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The project is slated for completion by Q3-2020
1 hour ago UAE’s ICT, Musanada complete 60% of Umm Lafina project
UAE – Mubasher: The Integrated Transport Centre (ICT) and Abu Dhabi General Services Company (Musanada) have announced that work is progressing according to the agreed construction plan in the AED 1.131 billion Sheikh Zayed bin Sultan Road …
Part of the signing ceremony
2 hours ago Egypt’s NOMP inks deal with Chinese company for new tyre plant
Cairo – Mubasher: Egypt’s National Organization for Military Production (NOMP) has signed an agreement with China Poly Group Corporation for the building of a tyre manufacturing plant in Egypt. Under the contract, both parties will cooperate in …
Part of the groundbreaking ceremony
3 hours ago MAG Development launches $2bn Mag City in Dubai
UAE – Mubasher: MAG Holding Group’s real estate unit, MAG Development, has broken ground on its $2-billion mixed-use project ‘Mag City’, according to a company statement released on Saturday. Located at Mohammed Bin Rashid City’s Meydan District 7 …
Contracts are set to be signed before year-end
13 December 08:22 PM Saudi Mawani announces joint contracts with DP World, Red Sea Gateway
Riyadh – Mubasher: Saudi Arabia’s Supervisory Committee for Privatization of Transport Sector has approved signing concession contracts with global port operator DP World and regional port operator the Red Sea Gateway Terminal (RSGT) to develop …
KAMCO is the merging company
12 December 05:54 PM KAMCO finalises merger with Global Investment House
Mubasher: KAMCO Investment on Thursday announced the finalisation of the merger with Global Investment House, according to the company’s Boursa Kuwait disclosure. The merger was implemented through exchanging 138.878 million Global capital shares, …
KAMCO's assets will fall by $83.8 million
12 December 05:11 PM KAMCO sells major stakes in overseas special-purpose entities
Mubasher: Kuwait-based KAMCO Investment announced on Thursday the sale of major stakes in overseas special purpose entities. KAMCO also acquired, through the stake sale, an administrative building fully leased to mortgage loan giant Freddie Mac, …
Boubyan sold nearly 3.326 million Saudi Aramco shares
12 December 03:05 PM Boubyan Petrochemical exits stake in Aramco
Mubasher: Boubyan Petrochemical Company has sold its entire shares in Saudi Arabian Oil Co (Saudi Aramco), just after two sessions, profiting KWD 1.6 million ($5.3 million), according to a bourse statement. Boubyan sold nearly 3.326 million Saudi …
The offering price is set at SAR 10 per share
12 December 12:07 PM Saudi Cable publishes capital hike prospectus
Riyadh – Mubasher: Saudi Cable Company has released the prospectus of its capital hike through the issuance of pre-emptive rights worth SAR 250 million. The offering price is set at SAR 10 per share in order to increase the capital to SAR 360.61 …
Tribal Credit recently closed a $5.5 million Seed round
12 December 12:04 PM How startups benefit from blockchain at Tribal Credit – Interview with Mohamed ElKasstawi
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Startups nowadays should look for new ways to boost their business, and one of these ways is using blockchain technologies and digital money. The US-based Tribal Credit, headquartered in Silicon …
Tawuniya shall provide co-insurance services for foreign pilgrims
12 December 12:02 PM Tawuniya signs Umrah insurance contract
Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) has signed an agreement with the Saudi Ministry of Hajj and Umrah. The four-year contract, which was approved by the Saudi Arabian Monetary Agency (SAMA), involves providing …
AMOC logged a net profit of EGP 31.8 million in Q1 of FY19/20
12 December 10:27 AM AMOC contracted to export 2 fuel oil shipments
Cairo – Mubasher: Alexandria Mineral Oils Co (AMOC) announced contracting to export two fuel oil shipments at the international prices of low-sulfur fuel oil. The first shipment has already been exported, while the second shipment is expected to …
Khalid Al Ballaa, Senior Director and Board Member of Mubasher during ArabNet Riyadh 2019
11 December 07:19 PM Mubasher shares success stories, ambitions at ArabNet Riyadh
Riyadh – Mubasher: ArabNet Riyadh 2019 hosted Khalid Al Ballaa, senior director and board member of Mubasher Financial Services Group, to discuss the company’s success stories, ambitions and the challenges it has faced since the late 1990s. The …
The sold shares represent around 29.9% of RAK Cement
11 December 03:44 PM Invest Bank sells 151m shares of RAK Cement
Abu Dhabi – Mubasher: Invest Bank, listed on the Abu Dhabi Securities Exchange (ADX), has sold 150.9 million shares of Ras Al Khaimah Cement Company (RAK Cement) on behalf of A&K International Investment Company.      The sold shares represent …
Khalid Al Ballaa, Assem El-Bassal, and Michel Malkoun
11 December 03:17 PM DMS named Exclusive Media Representatives for Mubasher.info
Riyadh – Mubasher: Digital Media Services (DMS), the digital arm of Choueiri Group, has been recently appointed as the ‘Exclusive Media Representatives’ for Mubasher.info, the Middle East and North Africa’s (MENA) most preferred Arabic-language …
The financial impact of the contract will appear in Q4
11 December 02:58 PM Jarir Marketing signs service contact with Rubeen
Riyadh – Mubasher: Jarir Marketing Company announced a contract sign off with Rubeen Al Arabia Company, according to a statement to the Saudi Stock Exchange (Tadawul). The contract provides management, operation and maintenance services, not …
The deal is valued at SAR 12.2 million
11 December 02:50 PM Dallah Healthcare acquires 10% stake in Meras
Riyadh – Mubasher: Dallah Healthcare Company has signed a purchase agreement for a 10% stake in Meras Arabia Medical Holding Company. The deal is valued at SAR 12.2 million, according to a company statement to the Saudi Stock Exchange (Tadawul). …
Dokkan Afkar sells homegrown and innovative gadgets and gifts
11 December 01:41 PM Saudi startup Dokkan Afkar secures SAR 19m funding round
Riyadh – Mubasher: E-commerce marketplace Dokkan Afkar finalised a funding round of SAR 19 million ($5.6 million) led by the Business Incubators and Accelerators Company (BIAC), the startup said in a press release. Dokkan Afkar, which …
Officials from Emirates NBD and LuLu Group
11 December 01:28 PM Emirates NBD, LuLu Group unveil Emirates NBD LuLu 247 Mastercard credit card
Dubai – Mubasher: Emirates NBD has partnered with LuLu Group to introduce the Emirates NBD LuLu 247 Mastercard Credit Card, offering customers around rewards of up to 7% on spending at LuLu stores and web store. The co-branded card program works …
MNHD logged a net profit of EGP 630.98 million in nine months
11 December 12:55 PM MNHD approves EGP 150m credit facility from United Bank
Cairo – Mubasher: The board of directors of Madinet Nasr Housing and Development (MNHD) approved the development of a land inside Taj City under partnership scheme. The real estate developer has also approved a credit facility worth EGP 150 …
MSC Bellissima will make 17 calls and spend 35 days in Dubai
11 December 12:40 PM DP World, MSC Cruises ink long-term deal to promote tourism
Dubai – Mubahser: DP World has entered into a long-term agreement with MSC Cruises for preferential berthing rights at Mina Rashid in Dubai, strengthening the Geneva, Switzerland-based cruise line’s position as a top passenger cruise operator in …
The final investment cost of the project is currently being determined
11 December 12:21 PM Sidpec’s capital raise depends on polypropylene facility’s cost
Cairo – Mubasher: Sidi Kerir Petrochemicals (Sidpec) is currenlty looking to select general contractors for its propylene and polypropylene production facility. The final investment cost of the project is currently being determined and based on …
Customers can conclude any routine transaction through Smartbanking at once
11 December 11:36 AM ADIB launches “Smartbanking” for millennial customers
Abu Dhabi – Mubahser: Abu Dhabi Islamic Bank (ADIB) has introduced, Smartbanking, a new digital banking proposition for millennial customers, representing a new banking paradigm in the UAE. The new solution features digital onboarding along with a …
The company’s board of directors will convene on 18 December
11 December 11:07 AM CI Capital mulls contributing to Egyptian Commodity Exchange
Cairo – Mubasher: CI Capital Holding for Financial Investments currently considers contributing to establishing the Egyptian Commodity Exchange. The company’s board of directors, set to convene on 18 December, will discuss the potential …
The three investments will realise rewarding commercial returns
11 December 11:03 AM Abu Dhabi Catalyst Partners invests $225m with 3 int'l firms
Abu Dhabi – Mubasher: Abu Dhabi Catalyst Partners has unveiled its three initial investments that will position Abu Dhabi as a reputable international financial and business hub during the SALT Abu Dhabi conference which began on 9 December and …
The world’s largest oil company will begin trading on Tadawul tomorrow
10 December 07:22 PM Numbers behind world’s largest IPO revealed
Riyadh – Mubasher: Samba Capital and Investment Management Company (Samba Capital), the lead manager of the initial public offering (IPO) of the Saudi Arabian Oil Company (Saudi Aramco), announced the completion of the world’s largest IPO. The …