Top News

AFE Saudi Arabia 2021 will be held on 29-30 March

25 March 03:09 PM Saudi Arabia to host Arab Exchanges Federation Conference next week: Tadawul

Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul), in partnership with the Arab Federation of Exchanges (AFE), is hosting the AFE Annual Conference Saudi Arabia 2021 from 29 to 30 March. The conference aims at creating a platform for …

Event

The ministers proposed the export of Egyptian and Jordanian products to Iraq without trade barriers

25 March 03:47 PM Egypt, Jordan, Iraq explore cooperation in energy, industry, other sectors

Cairo – Mubasher: The Minister of International Cooperation, Rania El-Mashat, chaired the Egyptian Ministerial Group in the ministerial coordination meeting virtually between Egypt, Jordan, and Iraq. The meeting was held to complete discussions on …

11 March 03:21 PM BMW 2020 profit falls on pandemic impact, despite China-lead rebound

BMW said its operating profit for 2020 fell due to the COVID-19 pandemic.

9 March 03:20 PM China's EV trio plan to list in Hong Kong

The US-listed Chinese electric vehicle (EV) companies, Li Auto, Nio, and Xpeng, seek to list in Hong Kong in 2021.

8 March 04:45 PM EU approves Microsoft's $7.5bn acquisition of ZeniMax Media

The European Commission has approved Microsoft's $7.5 billion acquisition of ZeniMax Media.

8 March 01:11 PM Panasonic set to acquire US Blue Yonder for $6.5bn

Panasonic is arranging for acquiring Blue Yonder, a US software company focusing on supply chain management.

7 March 04:33 PM US Senate passes Biden's $1.9 trn relief plan

The US Senate has passed President Joe Biden’s $1.9 trillion coronavirus (COVID-19) relief plan.

The 100 CEOs represent 24 nationalities and 21 sectors.

7 March 12:10 PM Forbes unveils “Top CEOs in the Middle East” ranking

Dubai - Mubasher: Forbes Middle East has released its first annual "Top CEOs in the Middle East" ranking, recognising the executives making significant contributions to the region's economies. The 100 CEOs represent 24 nationalities and 21 …

3 March 12:43 PM Samsung considers four sites in US for $17bn chip plant

Samsung Electronics Co is considering two sites in Arizona and two others in New York and Texas’ Austin for a new $17 billion chip plant.

2 March 03:05 PM Target earnings exceed estimates as sales grow 21%

Earnings of Target surpassed Wall Street’s estimates, as its sales were boosted by a strong holiday season and stimulus checks.

25 February 03:51 PM Airline industry to remain cash negative in 2021 - IATA

The airline industry is forecast to continue witnessing negative cash flow in 2021 due to COVID-19.

25 February 02:59 PM EU leaders meet to accelerate vaccine production, rollout

European Union leaders will meet to try to accelerate the production and rollout of COVID-19 vaccines in a race against the emergence of new variants.

23 February 02:38 PM HSBC annual profit beats estimates

HSBC reported full-year earnings for 2020 that exceeded expectations and announced a dividend payout for the first time since the Covid-19 pandemic.

22 February 05:20 PM Dozens of Boeing 777 jets grounded after Denver incident

Mubasher: Airlines in the US, South Korea, and Japan have grounded dozens of Boeing 777 airplanes after a United Airlines plane suffered engine failure.

18 February 03:17 PM Airbus announces EUR 1.133bn losses in 2020

Airbus announced consolidated net losses of EUR 1.133 billion in 2020, compared to EUR 1.362 billion in 2019.

The Middle East and Africa witnessed the highest level in percentage terms

18 February 01:35 PM Middle East insurance M&A defies COVID-19-driven dip in 2020; expected to surge in 2021

Mubasher: The insurance sector across the world has registered 407 completed merger and acquisition (M&A) deals in 2020, lower than 419 in 2019. This record was mentioned by finding opportunity in adversity, the latest edition of global law firm …

18 February 12:37 PM Barclays sees 38% lower annual earnings, resumes dividend payouts

Barclays logged a profit of £1.53 billion ($2.11 billion) in 2020, down by 38% from 2019.

18 February 11:41 AM Credit Suisse moves to fourth-quarter loss

Credit Suisse turned to a better-than-expected loss in last year’s fourth quarter (Q4), driven by higher provisions for legal disputes.

17 February 02:08 PM Ford targets all-electric car lineup in Europe by 2030

Ford Motor Co will invest $1 billion in converting its vehicle production facility in Cologne, Germany.

17 February 01:49 PM Maersk to launch world's first carbon-neutral liner vessel in 2023

Maersk will accelerate plans to decarbonise sea-borne container shipping by putting the world’s first carbon-neutral vessel into operation in 2023.

The kingdom’s decision will apply only to contracts offered by the government.

16 February 12:16 PM KSA to cease contracting with foreign firms without regional HQ from 2024

Riyadh – Mubasher: Saudi Arabia will no longer sign contracts with foreign companies that do not have a regional headquarters in the kingdom after 2023, Reuters reported citing the Saudi Press Agency (SPA). The policy, which comes into effect on 1 …

14 February 02:21 PM Oxford University to test Covid-19 vaccine response among children

The University of Oxford launched a study to assess the safety and immune response of the Oxford/AstraZeneca vaccine in children for the first time.

10 February 01:58 PM Global trade's recovery expected to slow down in Q1-21

The recovery in global trade is expected to slow down again during Q1-2021.

10 February 01:43 PM Maersk helped by trade recovery, but misses expectations

A hike in demand for goods from locked-down consumers has sparked a jump in shipping rates, boosting Maersk’s profits.

9 February 12:26 PM Total records 66% lower profits in 2020 due to COVID-19

The net profits of France's Total plunged by 66% to $4.059 billion in 2020, compared to $11.828 billion in 2019.