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1 December 11:07 AM OIC member states log $63bn trade deficit for halal economy products in 2021
Mubasher: The member states of the Organisation of Islamic Cooperation (OIC) have registered a trade deficit of $63 billion for halal economy products in 2021, according to the 2022 Annual OIC Halal Economy Report. Last year, total halal product …
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30 November 09:44 AM UAE’s strong economy to pull in more foreign investments - Al Tamimi Investments
Dubai - Mubasher: Robust investment flows to the UAE are expected in the coming years thanks to the country’s consistent strong economic performance, steady growth, and ambitious development plans in the next 50 years, says Al Tamimi Investments. …
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29 November 04:13 PM Bioventure, Minapharm, MiGenTra to commercialise multiple biosimilar candidates of Alvotech
Mubasher: Dubai-based Bioventure, Minapharm Pharmaceuticals, and MiGenTra GmbH have signed an exclusive licence agreement for the commercialisation of multiple biosimilar candidates developed and manufactured by Alvotech, in Egypt and eighteen …
Osmar Chohfi, President of ABCC
27 November 03:32 PM Brazilian exports to Arab world exceed $14bn in 10M-22
Mubasher: The Arab Brazilian Chamber of Commerce (ABCC) has announced an annual increase of 25.71% in Brazilian exports to the Arab countries during the first ten months (10M) of 2022 at $14.47 billion from $11.51 billion. Brazilian exports to the …
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27 November 09:51 AM Saudi Arabia becomes 1st Gulf state to chair UNWTO Executive Council
Mubasher: Saudi Arabia has become the first GCC country to chair the United Nations World Tourism Organization (UNWTO) Executive Council. The election took place at the UNWTO’s 117th Executive Council meeting in Marrakesh, Morocco. The move …
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23 November 04:43 PM DMCC digitises gold trading through tokenisation of Comtech Gold bullion
Dubai - Mubasher: DMCC announced a partnership with Comtech Gold to digitise the trading of gold by tokenising the precious metal backed by physical gold bars registered on DMCC Tradeflow. DMCC Tradeflow is an online platform for registering the …
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23 November 03:18 PM DFM launches new general index
Dubai - Mubasher: Dubai Financial Market (DFM) has launched its new general index culminating the successful accomplishment of a comprehensive transformation of its indices’ methodology. The developed indices provide various market participants …
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21 November 01:27 PM Americana Restaurants doubles UAE’s IPO shares for ADX listing
Mubasher: Americana Restaurants International increased the size of its UAE’s retail tranche to 10% from 5% in its initial public offering (IPO) to match Saudi Arabia’s retail offer. Meanwhile, the institutional tranche has been reduced to 80% …
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16 November 12:48 PM Euromoney returns to Egypt this December; Mashreq Bank among lead sponsors
Cairo – Mubasher: Egypt will host the 25th edition of the Euromoney conference on 7 December 2022, under the auspices of Prime Minister Mostafa Madbouly, according to a press release. Mohamed Maait, Egypt’s Minister of Finance, as well as other …
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15 November 12:46 PM Egypt to host MENA’s first-of-kind Arab Actuarial Conference next year
Cairo – Mubasher: The Arab Actuarial Conference 2023 is scheduled to kick off in Cairo during 9-11 May 2023, for the first time in the MENA region, according to a press release. The three-day event will be held at the Four Seasons Hotel under the …
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14 November 12:19 PM PwC Middle East supports regional startups through Net Zero Future50 initiative
Mubasher: PwC Middle East has initiated a search for 50 innovative climate tech startups in the Middle East to benefit from PwC’s support and platform in order to scale up and grow, according to a press release. Through the launch of Net Zero …
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17 November 10:09 AM Egypt inks renewable energy agreements of $83bn
Cairo – Mubasher: Egypt's Minister of Planning, Hala El-said, witnessed the signing of a number of agreements and cooperation protocols between the Sovereign Fund of Egypt (TSFE) and a number of developers worth $83 billion in the renewable energy …
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13 November 04:58 PM Metaverse presents some $13trn opportunity for Midest telcos - Report
Dubai - Mubasher: Metaverse represents a major new market for telcos with early estimates of the overall size of the metaverse opportunity to be around $13 trillion by 2030, according to a report by Arthur D. Little (ADL).   Ericsson for example …
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13 November 03:35 PM Saudi minister unveils climate action projects during COP27
Cairo – Mubasher: The Saudi Minister of Energy, Prince Abdulaziz bin Salman, announced the inauguration of three new projects to enhance the kingdom’s national and regional climate action.  The minister's remarks were made during the second day of …
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10 November 07:04 PM ADX derivatives market announces AED 1bn in trades
Abu Dhabi – Mubasher: The derivatives market of the Abu Dhabi Securities Exchange (ADX) has recorded AED 1 billion in traded value during the first year of its launch. More than 1 million contracts were traded with over 100% above peers in the …
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9 November 06:05 PM Abu Dhabi Airports to launch advanced biometric technology
UAE – Mubasher: Abu Dhabi Airports plans to set up advanced biometric technology, which provides a touchless boarding experience that uses a passenger’s facial features as their passport, according to a recent press release. The passengers …
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9 November 03:37 PM Almosafer to fuel inbound tourism growth in region
Riyadh - Mubasher: Almosafer and Visit Oman have signed a partnership agreement at World Travel Market to boost leisure tourism to Oman from Saudi Arabia, Kuwait, and the UAE.   Under the agreement, Almosafer’s consumer business will run a 360 …
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9 November 12:41 PM Saudi CMA approves capital raise requests worth over SAR 100bn in about 5 years
Riyadh – Mubasher: The Capital Market Authority (CMA) approved some 116 capital increase requests by listed companies from January 2018 to the end of the first half (H1) of 2022, with a value surpassing SAR 100 billion. This reflects CMA's role in …
Rania El-Mashat, Egypt’s Minister of International Cooperation
8 November 11:39 PM Egypt’s international cooperation minister chosen for Generation Unlimited
Cairo – Mubasher: Rania El-Mashat, Egypt’s Minister of International Cooperation, has been selected to be part of the Global Leaders' Council of the United Nations Initiative (Generation Unlimited). Kevin Frey, Executive Director of the Generation …
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8 November 05:28 PM Commissioning of Africa’s 1st integrated green hydrogen plant starts
Cairo - Mubasher: Fertiglobe, the strategic partnership between ADNOC and OCI, announced the start of the commissioning of the first phase of the green hydrogen plant in Egypt's Ain Sokhna, during an event at COP27.  The event was attended by …
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8 November 02:59 PM ACWA Power considers bringing on Oman as investor for Suez wind energy project
Cairo – Mubasher: ACWA Power Company signed a memorandum of understanding (MoU) with Oman Investment Authority (OIA) to explore bringing the sovereign wealth fund on as an investor for the 1.1GW Suez wind energy project in Egypt.  According to the …
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8 November 02:02 PM New crypto, blockchain association inaugurates in Abu Dhabi
Abu Dhabi – Mubasher: The Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA) has launched its business in Abu Dhabi, a pivotal step forward in the development of accessible, transparent, and compliant crypto-blockchain …
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8 November 10:07 AM Forbes Middle East reveals 10th annual Global Meets Local ranking
Dubai – Mubasher: The tenth annual Global Meets Local ranking of Forbes Middle East was unveiled, celebrating 51 executives leading the regional offices for 50 Forbes Global 2000 companies.   The executives in this ranking represent a diverse …
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8 November 09:32 AM DP World to invest $500m to reduce CO2 emissions
Dubai – Mubasher: DP World plans to invest up to $500 million to cut CO2 emissions from its operations by nearly 700,000 tonnes over the next five years, Emirates News Agency (WAM) cited the company’s Chairman and Group CEO, Sultan Ahmed bin …
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7 November 09:16 PM Saudi Arabia to host 2nd Future Minerals Forum early next year
Mubasher: The Saudi Ministry of Industry and Mineral Resources recently announced that the second edition of the Future Minerals Forum (FMF) will take place during 10-12 January 2023. To be held at the King Abdulaziz International Conference …