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Kuwaiti oil minister Khaled Al Fadel
1 hour ago Kuwait’s oil minister rebuffs reported OPEC agreement on supply cuts
Mubasher: Kuwaiti oil minister Khaled Al Fadel on Friday dismissed reports on an agreement among members of the Organization of the Petroleum Exporting Countries (OPEC) on cutting their collective supply by 500,000 barrels per day to 1.7 million …
Novak met his Saudi counterpart Prince Abdulaziz bin Salman
4 hours ago Saudi-Russian trade exchange grows 54% in 9M–Novak
Riyadh – Mubasher: Saudi-Russian trade exchange grew by 53.8% over the first nine months of 2019 on the prior year, Russian energy minister Alexander Novak said. The volume of trade exchange between Saudi Arabia and Russia amounted to $1.2 billion …
Sawiris owns 74.9% of Raiffeisen Touristik Group
5 December 02:11 PM Samih Sawiris acquires Thomas Cook’s German franchise network
Cairo – Mubasher: Raiffeisen Touristik Group, majority owned by the Egyptian billionaire Samih Sawiris, has acquired the German franchise network of Thomas Cook, Handelsblatt reported.  Sawiris owns 74.9% of Raiffeisen Touristik Group which …
Founder and CEO of ArabNet, Omar Christidis
4 December 05:54 PM Arabnet Riyadh 2019 is packed with initiatives – CEO Interview
By: Moslem Ali Riyadh – Mubasher: ArabNet Riyadh will feature multiple tracks delving into discussions across a range of industries and topics on 10 & 11 December, bringing together more than 6,000 attendees. The Founder and CEO of ArabNet, Omar …
Kuwait’s foreign reserves rose by 5.23% year-on-year
4 December 03:58 PM Kuwait’s FX reserves grow 5.23% in October
Mubasher: Kuwait’s foreign reserves rose by 5.23% year-on-year in October, the Central Bank of Kuwait’s (CBK) monthly statistics showed on Wednesday. The Gulf country’s foreign currency exchange reserves amounted to KWD 11.801 billion ($38.939 …
The confirmation came in a statement to Boursa Kuwait
3 December 10:26 AM Humaidi still committed to offer Ream Real Estate takeover
Mubasher: Abdullah Mohammed al Humaidi announced that he is committed to put forward an obligatory proposal to purchase all of Ream Real Estate Co’s shares by 1 March 2020 at most. The confirmation came in al Humaidi’s statement to Boursa Kuwait. …
Walid Farghal & Jihong Ding after signing MoU in presence of top officials
26 November 11:27 AM New UAE-Chinese business scope added via AIM’s partnership
UAE – Mubasher: The largest investment platform in the world, Annual Investment Meeting (AIM), has signed a memorandum of understanding (MoU) with China Venture Capital Research Institute (CVCRI). Within the Belt and Road Initiative (BRI), …
In the Middle East, geopolitical risks are a credit driver, says Moody's
21 November 01:33 PM Emerging market outlook for 2020 turns negative - Moody's
Mubasher: Gross domestic product (GDP) growth in emerging markets will average above 4.5% in 2020, according to Moody’s Investors Service. This pace remains sluggish compared to past peaks, as “emerging market growth slowed significantly in 2019 …
Gros will also be a member of the Renault Management Committee
19 November 02:17 PM Renault names SVR for communications, public affairs
Mubasher: Groupe Renault announced that Catherine Gros will be appointed as senior vice president for communications, public affairs, and social and sustainable impact as of 17 December.  The French automotive manufacturer revealed that Gros will …
Not only developed economies can benefit from intelligent connectivity
19 November 12:12 PM Intelligent connectivity catalyst for GDP growth – Huawei Report
Mubasher: A recent report by Huawei showed that countries with scores over 65 on the Global Connectivity Index (GCI) that made continuous investment in intelligent connectivity can expect a boost in the gross domestic product (GDP) by more than …
This decision does not change the fact that Huawei continues to be treated unfairly
19 November 11:58 AM 3rd US reprieve has no significant impact on Huawei’s business
Mubasher: The Chinese technology giant Huawei said that the US Department of Commerce’s decision to extend the temporary general licence for 90 days will have no significant impact on the businesses of the telecommunications firm. However, Huawei …
Bundesbank
18 November 05:38 PM No signs for recession in Germany - Bundesbank
Mubasher: Economic growth in Germany is expected to remain weak during the fourth quarter (Q4) of 2019, according to the German central bank (Bundesbank), Reuters reported. Nevertheless, Bundesbank sees no reason to fear a recession with signs …
Visitors will be allowed to test new services at the new concept store
18 November 03:03 PM Renault City debuted in France
Mubasher: French automobile manufacturer Groupe Renault has opened its debut ‘Renault City’ concept store in the heart of a major shopping area in partnership with the Sofibrie Group (Havard family). Situated in Val d'Europe shopping centre in …
Report available online on MAGNiTT and ADGM's websites
24 October 05:42 PM MAGNiTT, ADGM launch first of kind MENA FinTech Venture Report
Mubasher: The leading startup data platform in the region, MAGNiTT, has teamed up with Abu Dhabi Global Market (ADGM) to launch the first-of-its-kind 2019 MENA FinTech Venture Report. The full report can be found online on the websites of MAGNiTT …
Alibaba Cloud has the third-largest share of the global cloud computing market
21 October 04:56 PM UAE’s startup RIZEK inks 1st of kind deal with Alibaba Cloud in region
Mubasher: The UAE tech start-up, RIZEK has signed a memorandum of understanding (MoU) with Alibaba Cloud for cloud-computing services, as a way to continue soaring high. Based on this agreement, Alibaba Cloud will support RIZEK in creating …
Algorand’s ecosystem is now open to Islamic institutions using the platform
21 October 04:10 PM Algorand’s blockchain platform certified for sharia financing
Mubasher: The Algorand Foundation announced on Monday the certification of its blockchain platform in compliance with sharia financing, according to the organisation’s press release. Algorand enlisted Bahrain’s Shariyah Review Bureau (SRB), …
surveillance cameras may represent 70% of the 5G IoT endpoint installed base in 2020
21 October 11:37 AM Outdoor surveillance cameras may be largest market for 5G IoT Solutions - Gartner
Mubasher: Gartner Inc. expected outdoor surveillance cameras to become the biggest market for 5G Internet of Things (IoT) solutions across the world during the coming three years.     Surveillance cameras are forecast to represent 70% of the 5G …
Communications satellite TIBA-1 was sent to French Guiana, before its launch from Kourou
18 October 01:16 PM Egypt’s TIBA-1 satellite leaves Airbus’ clean rooms
Mubasher: Airbus said that Egypt’s communications satellite TIBA-1 left its defence and space clean rooms in Toulouse, according to the European aeronautics giant’s website. The spacecraft, developed by Airbus and Thales Alenia Space (TAS), a …
Grand Union is Developed by St George PLC, Berkeley Group
17 October 05:13 PM Major trending investments in London include Battersea Power Station – Savills
Mubasher: Companies invest into the real estate market in London, so too are developers, by offering increasingly attractive opportunities, the leading real estate advisor, Savills Middle East, said. In a high-profile event at the UK Embassy in …
Prime London residential property values are forecast to show recovery
17 October 04:28 PM Savills: Outbound investment in real estate from Middle East rises 62%
Mubasher: Investment in the global real estate market is showing faster growth than any other region, while outbound investment in properties from the Middle East region has soared by 62% during the first half of 2019, Savills said. In a …
MBZUAI Board of Trustees launching the world’s first graduate level AI university
17 October 11:17 AM UAE launches ‘MBZUAI’ as 1st research-based AI university in world
Mubasher: Abu Dhabi has announced the establishment of the first graduate level, research-based artificial intelligence (AI) university in the world. UAE’s Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), located in Masdar City, …