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FlyDubai announced signing a $27-billion
16 November 07:33 PM Dubai Airshow 2017 marks $113.8bn deals
By: Amr Adel Dubai – Mubasher: Deals and agreements signed during the 15th round of the Dubai Airshow 2017 which concluded on Thursday marked a record high of AED 417.6 billion ($113.8 billion). The event, which is held once every two years in …
Officials from Mubasher Financial Services receiving the award during the event
16 November 06:09 PM Mubasher Financial Services awarded Best Brokerage in Middle East
Dubai – Mubasher: Mubasher Financial Services (MFS) has been awarded the “Broker of the Year” in the Middle East. The announcement was made in an annual event sponsored by The Global Investor Group magazine which celebrates the top companies in …
Amman Municipality inked an agreement with the EBRD to transform the capital into a smart city
15 November 06:23 PM Jordan offers tax cuts to attract private investments in infrastructure
By: Moslem Ali Cairo - Mubasher: Jordan is currently trying to overcome the economic decline it witnessed since the Arab Spring, said the Jordanian minister of planning and international cooperation, Imad Najib Fakhoury. Jordan faced some of the …
Indigo Partners will receive upgraded narrow-body aircraft
15 November 01:18 PM Airbus reaches $50bn deal with USA’s Indigo Partners
By: Amr Adel Dubai – Mubasher: Airbus on Wednesday unveils the closing of a major deal to sell 430 A320neo jets to four companies in Indigo Partners’ investment portfolio in consideration of around $50 billion during Dubai Airshow 2017. Under the …
Global wealth increased by 27% in the last decade to a total $280 trillion
14 November 11:48 PM US dominates global wealth, Egyptians lost half theirs in year
Mubasher: Individual wealth surged 6.4% in a year, recording its highest annual increase since 2012, with Egypt leading the top losers due to the local currency flotation. Global wealth increased by 27% in the last decade to a total $280 trillion, …
Saudi Prince Alwaleed bin Talal is rumoured to be selling his hotels in Beirut
14 November 08:12 PM Bin Talal’s Beirut hotels go up for sale
Riyadh – Mubasher: Saudi Prince Alwaleed bin Talal is rumoured to have put its luxury hotels in Beirut up for sale. “A Lebanese commercial bank has been commissioned to find buyers for the posh Four Seasons Hotel Beirut and Movenpick Hotel …
EgyptAir and Bombardier officials signing the deal at the Dubai Airshow
14 November 05:58 PM EgyptAir inks $2.2bn 24-jet deal with Canada’s Bombardier
By: Amr Adel Dubai – Mubasher: National carrier EgyptAir on Tuesday signed a letter of intent (LOI) with Canada’s Bombardier to purchase 24 CS300 jets at a total value of $2.2 billion. The deal, which was signed during the third day of the Dubai …
The UAE Armed Forces inked a contract with Abu Dhabi-based Etihad Airways
14 November 05:08 PM UAE’s MOD closes 8 new deals at Dubai Airshow
By: Amr Adel Dubai – Mubasher: The UAE’s Ministry of Defence (MOD) on Tuesday announced the signing of eight deals in the third day of the Dubai Airshow. The new deals worth AED 3.34 billion were closed with three local and five international …
The GDP of the Eurozone has registered a growth of 0.6% in Q3-17
14 November 01:53 PM Eurozone economy growth slows in Q3
Mubasher: The economy growth in the euro area has slowed down in the third quarter of 2017; however it came in line with the analyst’s expectations. On Tuesday, Eurostat published data on the gross domestic product (GDP) of the euro area, in …
Oman’s minister of energy Mohammed Hamad Al Rumhy
13 November 12:55 PM Oman oil minister forecasts oil output cut extension
By: Amr Adel Abu Dhabi – Mubasher: Oman’s minister of energy Mohammed Hamad Al Rumhy told reporters on Monday that he was confident that members within and outside of the Organization of Petroleum Exporting Countries (OPEC) will agree to another …
I am optimistic about oil market’s performance in 2018
13 November 11:49 AM Global oil market to see recovery – UAE energy minister
By: Amr Adel Abu Dhabi – Mubasher: The UAE’s minister of energy and industry Suhail bin Mohammed Al-Mazroui on Monday said he expects that the global oil market to continue its recovery during 2018. The decision to cut oil production has helped in …
Saudi Aramco is the largest oil company in the world
12 November 11:15 PM Aramco yet to choose int’l market for IPO
Riyadh - Mubasher: Although preparations for the awaited Saudi Aramco initial public offering (IPO) are proceeding, the stock market where it will take place is yet to be decided, the company’s CEO said in a TV interview on Sunday. Amin Nasser …
GCC oil, gas projects hit $331bn in November – Report
12 November 12:01 PM GCC oil, gas projects hit $331bn in November – Report
Dubai – Mubasher: The total value of 361 oil and gas projects in the GCC reached AED 1.21 trillion ($331.4 billion) in November, Trade Arabia reported, citing a report of BNC as saying. The number of oil and gas projects in the GCC nations …
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11 November 11:25 PM Emirates to order up to 38 new Airbus jets
Dubai - Mubasher: Emirates is set to purchase around 36 to 38 Airbus A380 superjumbo jets, in a deal that will total around $16 billion, Reuters reported on Saturday, citing an unnamed source. The deal could be completed on the sidelines of the …
Boeing had around 630 purchase orders in Middle East
11 November 05:31 PM Boeing sees Middle East as key market for growth - VP
Dubai - Mubasher: Boeing is expecting an increase in demand on commercial airplanes in the Middle East, said the company’s vice president of sales in the Middle East, Russia and Central Asia. Marty Bentrott added in a press conference in Dubai on …
Kuwaiti oil barrel price decline 4 cents on Thursday
10 November 12:57 PM Kuwaiti oil barrel price decline 4 cents on Thursday
Mubasher: The price of Kuwaiti oil barrel dropped four cents in Thursday’s trading activities to reach $60.31, against $60.35 on Wednesday, data of Kuwait Petroleum Corporation (KPC) showed. In the international markets, crude oil prices rose in …
The UK government is considering a $2 billion loan guarantee to Saudi Aramco
9 November 08:21 PM UK may nod to $2bn loan guarantee for Saudi Aramco
Riyadh – Mubasher: The UK government is considering a $2 billion loan guarantee to Saudi Aramco, as the London Stock Exchange (LSE) eyes hosting the flotation of the 5% stake in country’s mega oil company. The UK Treasury on Thursday said it had …
bin Talal has sold his remaining stake in Rupert Murdoch’s 21st Century Fox Inc
9 November 06:08 PM Bin Talal sells stake in Murdoch's 21st Century Fox
Riyadh – Mubasher: Saudi billionaire Al-Waleed bin Talal has sold his remaining stake in Rupert Murdoch’s 21st Century Fox Inc., according to Bloomberg. Bin Talal had been a shareholder in Murdoch’s companies for about 20 years, the news agency …
Kingdom Holding Company’s (KHC) stocks dropped by 7.6% on Sunday before sliding by 5.6% on Monday
7 November 07:35 PM Global markets take a hit on Saudi arrests - Report
By: Mohamed Soliman Mubasher: The recent wave of surprising Saudi resolutions, which involved the arrest a number of princes and ministers through the government’s new anti-corruption campaign has negatively impacted global markets. King …
The London Stock Exchange made a strong case to Aramco
6 November 05:26 PM LSE tries to attract Aramco listing - PM
Riyadh - Mubasher: The London Stock Exchange (LSE) has made a very strong proposal for Saudi Aramco to lists its shares in Britain, Reuters cited a spokesman for Prime Minister Theresa May said on Monday. “Obviously there are lots of big stock …
The new transit system passed three tests in stimulated weather conditions
5 November 09:43 PM Netherlands’ 2getthere to launch Dubai's driverless buses in 2020
Dubai – Mubasher: The Dutch firm 2getthere announced that its first operational test of its automated vehicle system in Dubai, which will connect Dubai’s Bluewaters Island with the city’s metro stations’ grid, has succeeded in simulated desert …
Majid Al Futtaim ranked fourth across the Arab world
1 November 02:33 PM UAE’s Majid Al Futtaim tops billionaires list; KSA’s bin Talal tops Arab world
Dubai - Mubasher: The Bloomberg Billionaires Index included three UAE businessmen in the list of the world’s 500 richest people by the end of October. Majid Al Futtaim ranked fourth across the Arab world and 205th globally with a wealth valued at …
Saudi Aramco’s IPO is expected to be the largest in the world
1 November 01:08 PM UK’s FCA denies gov’t pressure for possible Aramco IPO on LSE
Riyadh – Mubasher: Britain’s Financial Conduct Authority (FCA) has denied allegations that it suggested changes to listing rules in order to facilitate the listing of sovereign-controlled companies, Reuters reported on Wednesday. Media reported …
The IMF expected that GCC economies will achieve 5% growth in 2017
31 October 05:54 PM GCC economies to slow down in 2017 - IMF
Mubasher: The International Monetary Fund (IMF) on Tuesday announced that economic growth across GCC member states may see a slowdown in 2017, weighed down by the agreement to cut oil production as part of the Organization of Petroleum Exporting …
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30 October 06:15 PM Saudi Arabia to extract uranium for its nuclear power programme
Riyadh - Mubasher: Saudi Arabia is planning to extract uranium domestically as part of its nuclear power programme, as reported by Reuters on Monday. The move is seen as a step towards self-sufficiency in producing atomic fuel, according to the …