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24 July 02:22 PM Egypt reportedly launches tender to purchase 5 liquefied gas shipments
Cairo – Mubasher: Egypt has launched a new tender to import five shipments of liquefied gas next August and September, as part of its efforts to end the electricity outage crisis in the Arab Republic. A government official, who spoke to Asharq …
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24 July 08:50 AM Saudi Arabia to host Middle East LPG Expo 2024
Riyadh – Mubasher: Middle East LPG Expo - Saudi Arabia 2024 is set to take place during 10-11 September 2024, according to a press release. LPG Expo, a leading exhibition and conference organiser in the liquefied petroleum gas (LPG) industry, …
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23 July 09:19 AM Saudi Flynas announces new destinations to Bahrain, Doha
Riyadh – Mubasher: Flynas has launched direct flights from its main base in Madinah to Bahrain and Doha as of September 10, according to a press release. Bahrain and Doha join the network of global destinations operated by flynas from Medina, …
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22 July 02:30 PM Saudi Arabia launches Kingdom's most extensive mineralised belts to date
Riyadh – Mubasher: The Saudi Ministry of Industry and Mineral Resources has initiated its most extensive mineralised belts to date that cover an expansive 4,788 square kilometres over five exploration licences, according to a press release. The …
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22 July 03:18 PM MENA-focused OTO closes SAR 30m funding round led by PIF’s Sanabil
Riyadh – Mubasher: OTO, MENA’s leading shipping gateway and logistics platform, secures SAR 30 million ($8 million) in a Series A funding round led by Sanabil Investments, a wholly-owned company by the Saudi Public Investment Fund (PIF). The …
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21 July 04:52 PM GCC fixed income markets see $75.5bn issuances in H1-24 – Report
Mubasher: Primary debt issuances of bonds and sukuk in the Gulf Cooperation Council (GCC) countries surged to $75.50 billion in the first half (H1) of 2024, marking a 38% year-on-year (YoY) increase from $54.80 billion. Saudi Arabia led the GCC …
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21 July 10:09 AM RAKBANK issues 1st publicly traded Social Bond in GCC
Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) has completed the issuance of its five-year Euro Medium-Term Note (EMTN) bond under its Social Finance Framework. The lender offered a $600 million issue, which was oversubscribed …
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21 July 08:37 AM MENA’s Majarra expands into AI sector via acquisition of Lableb
UAE – Mubasher: MENA’s leading digital content provider Majarra has acquired Lableb, AI-based search engine that deals with the nature of Arabic content online. This strategic transaction anchors Majarra's position at the forefront of Arabic …
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18 July 02:22 PM ADGM to reduce fee for commercial licences starting 2025
UAE – Mubasher: Abu Dhabi Global Market (ADGM) will implement major reductions of 50% or more for obtaining non-financial and retail licences within its jurisdiction as of 1 January 2025, according to a press release. This initiative comes in line …
Abdo Khoury, Managing Director of Sharikat Mubasher
18 July 02:30 PM Mubasher Info lunches Sharikat Mubasher to support Saudi ecosystem
Mubasher: “Mubasher Info”, the Middle East and North Africa’s most preferred Arabic-language news agency for equity market news, data, analysis, and investor tools, with expertise spanning over twenty years, today announced the official launch of …
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15 July 11:09 AM ADES Holding secures $3bn dual-currency debt facility from local, regional listed entities
Riyadh – Mubasher: Oil and gas drilling services provider ADES Holding Company has amended its existing syndicated facility, obtaining an additional $3 billion multi-tranche dual-currency financing on 14 July 2024. The majority of existing lenders …
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17 July 10:16 AM IMF downgrades 2024, 2025 growth forecasts for Egypt, MENA
Cairo – Mubasher: The International Monetary Fund (IMF) has cut its expectations for Egypt’s real GDP growth for 2024 and 2025 by 0.3% for each year. The IMF reduced its expectations for the country’s growth in 2024 and 2025 to 2.70% and 4.10%, …
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16 July 04:31 PM CBRE names new Managing Director for MENA
Mubasher: Global real estate firm CBRE Middle East has appointed Michael Young as its new Managing Director for the MENA region as of 1 July 2024. With over two decades of experience across Asia Pacific, the UK, and MENA, Young brings proven …
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15 July 04:09 PM Liquid C2's Cloudmania expands Middle East partner ecosystem with Egypt launch
Cairo – Mubasher: Liquid C2, a subsidiary of African technology group Liquid Intelligent Technologies, has announced the expansion of its Cloudmania business into Egypt's channel partner ecosystem. The launch in Egypt demonstrates Cloudmania's …
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15 July 10:29 AM Eaton Middle East launches anti-counterfeit Asset Manager application
Mubasher: Intelligent power management company Eaton Middle East has introduced the innovative Eaton Asset Manager application to assist the commercial and construction industries in ensuring the use of genuine electrical products. This …
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11 July 10:10 AM Stride Ventures makes 1st GCC investment of $1m in Maalexi
Riyadh – Mubasher: Stride Ventures, a global venture debt firm from India, marked a key milestone in its international strategy by announcing its first $1 million venture debt investment in Maalexi as part of a broader GCC commitment. The funding …
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10 July 03:06 PM Servme, MyFatoorah partner to enhance digital payments in Middle Eastern restaurants
Mubasher: Servme, the leading reservation and guest CRM platform for restaurants and hospitality operators, had entered into a partnership with MyFatoorah, a leading payments platform, to boost payment adoption for restaurants across the Middle …
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10 July 12:27 PM Saudi Arabia tops MENA's VC funding in H1-24 – Report
Riyadh – Mubasher: Saudi Arabia ranked first in MENA in terms of the value of venture capital (VC) investments during the first half (H1) of 2024, attracting $412 million, down 7% year-on-year (YoY), according to a report by MAGNiTT. Around 32% of …
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9 July 04:29 PM GCC’s project awards drop 20% YoY in Q2-24 – Report
Mubasher: The GCC saw a notable decline in project awards during the second quarter (Q2) of 2024, with total awards dropping by 19.70% year-on-year (YoY) to $51.70 billion from $64.30 billion in the same period last year. This downturn was …
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9 July 08:47 AM NOW Money, Mastercard partner to foster payment in GCC
UAE - Mubasher: The UAE-based NOW Money partnered with global tech firm Mastercard to boost the payments industry across the GCC region, according to a press release. Through Mastercard payment cards, NOW Money customers will have secure and …
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8 July 02:44 PM EMX introduces EMX International to facilitate e-commerce delivery in GCC
UAE - Mubasher: EMX, a 7X logistics provider, launched EMX International to streamline e-commerce parcel delivery across the GCC region. The new service consolidates shipments to GCC, allowing companies to utilise Dubai as a gateway and optimise …
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8 July 12:54 PM NBK seals 5-year deal to deploy Super iPaaS solution in Middle East
Mubasher: The National Bank of Kuwait (NBK) has entered into a five-year strategic partnership agreement with Software AG, a leading technology solutions company, to utilise its Super iPaaS solution as a unified platform for integrating …
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8 July 11:46 AM Saudi Arabia ranks 3rd in EMEA 5G download speeds – Opensignal
Riyadh – Mubasher: Saudi Arabia held the third position in 5G Download Speed among key markets in the EMEA region, according to a report released by Opensignal. The report highlighted that the Kingdom witnessed a significant improvement in 5G …
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8 July 10:42 AM Riyadh ranks among world’s top 15 fastest-growing cities by 2033 – Report
Riyadh – Mubasher: The Saudi Arabian capital, Riyadh, has ranked among the world’s top 15 fastest-growing cities by 2033 based on economy, population, and wealth in the Savills Growth Hubs Index. Riyadh’s population is anticipated to grow by 26% …
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2 July 04:43 PM Act Financial seeks stakes in real estate, logistics companies – Managing Partner
By: Abdel Razek El-Showeikhy Cairo – Mubasher: Act Financial is planning to acquire stakes in real estate, healthcare, and logistics companies, Managing Partner Mostafa Abdelaziz told Mubasher in an interview. The company is finalising procedures …