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29 May 06:21 PM DFM launches futures contracts on general index
Dubai – Mubasher: The Dubai Financial Market (DFM) announced the listing and trading of futures contracts on its General Index (DFMGI) as of 29 May 2023 to provide investors with unique investment and hedging opportunities. DFMGI includes the most …
Global Economy
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15 May 03:20 PM Mubasher Trade allows investing in Egypt’s 1st gold Fund
Cairo – Mubasher: The Financial Regulatory Authority (FRA) has recently approved the launch of Azimut Precious Metals Fund under the name az-Gold, which marks the first gold investment fund in Egypt. Mubasher Trade, which is licensed by the …
Trading Activities
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23 April 05:22 PM UAE, Saudi Arabia among top lowest risk nations in MEA – GlobalData
Mubasher: The UAE has topped the 10 lowest risk countries across the Middle East and Africa (MEA) region in GlobalData Regional and Global Risk Index (GCRI) for the fourth quarter (Q4) of 2022. The region is seen affected by supply chain …
Macroeconomics
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9 April 04:05 PM GCC economies likely to grow at 3.9% in 2023 – Mubasher Capital
Mubasher: The six GCC economies are expected to grow at 3.9% throughout 2023, which marks twice the pace of the estimated world growth of 1.7%, according to a recent report by Mubasher Capital. As governments plan to boost the growth of their …
Sector Reports
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16 March 05:48 PM GCC countries to see slower economic growth in 2023 – Report
Mubasher: Economic growth among the GCC countries is forecast to be slower in 2023, following a sharp recovery in 2022, according to a recent report by S&P Global. The report attributed the sluggish economic growth to OPEC-related oil production …
Sector Reports
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8 March 05:18 PM Business travel in MEA hits $23bn in 2022, could return to pre-pandemic levels next year – Report
Mubasher: The business travel spending across the Middle East and Africa (MEA) region is projected to return to pre-pandemic levels by 2024, according to the Business Travel Index Outlook annual forecast and outlook 2022 from the Global Business …
Macroeconomics
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25 January 04:06 PM Kuwait raises discount rate as of Thursday
Mubasher: The Central Bank of Kuwait (CBK) decided to lift the discount rate by 0.50% to 4% from 3.50% starting from Thursday, 26 January 2023. The decision is part of recent developments in local and international economic conditions, in addition …
Sector Reports
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14 December 2022 03:23 PM Saudi DirectFN to link 7 African stock markets
Riyadh – Mubasher: Saudi Arabia’s DirectFN will be connecting seven African stock exchanges with a market value of $1.50 trillion through the online platform The AELP Trading Link under the African Stock Exchanges Linking Project. The first phase …
Global Economy
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8 December 2022 02:14 PM Economic growth in GCC seen more than double in 2022; reform momentum advised to be kept
Mubasher: The economic growth rate in the GCC region is expected to more than double to 6.5% in 2022, according to the latest report by the International Monetary Fund (IMF). It also advised the Gulf countries to maintain their reform momentum …
Macroeconomics
Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank
5 December 2022 05:38 PM Mobile apps see over $2.7 daily transactions – World Bank’s Abu Sulaiman
Riyadh – Mubasher: Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank, stated that transactions worth more than $2.70 billion are being traded on a daily basis through mobile applications. Abu Sulaiman highlighted that …
Global Economy
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5 December 2022 04:07 PM World Fintech Show kicks off in Saudi Arabia
Riyadh – Mubasher: The World Fintech Show has launched today, 5 December, in Saudi Arabia’s capital Riyadh at InterContinental Riyadh.   The event aims to connect the world’s fintech innovators with enterprises, investors, policymakers, startups, …
Global Economy
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23 November 2022 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 …
Macroeconomics
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10 November 2022 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 …
Global Economy
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3 November 2022 05:03 PM GCC firms' solid balance sheets ingest higher interest rates – Moody's
Mubasher: Several companies in the GCC region have a strong position to absorb interest-rate hikes which lower businesses' ability to repay debts, Moody's Investors Service stated in a recent report. Moody's predicted that investment-grade …
Sector Reports
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2 November 2022 10:00 PM Americana Restaurants mulls dual listing on ADX, Tadawul
Mubasher: Americana Restaurants International plans to proceed with the initial public offering (IPO) to list and trade its shares on the Abu Dhabi Securities Exchange (ADX) and the Saudi Exchange (Tadawul) through a concurrent dual listing …
Companies Investments
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13 October 2022 04:54 PM Oman Technology Fund invests $50m in MENA - Al Balushi
By: Mahmoud Gamal  Mubasher: Total investments of Oman Technology Fund (OTF) in the Middle East and North Africa (MENA) region exceeds $50 million at the moment, member of the board of directors of OTF, including ITHCA Group, Yousef bin Abdullah …
Global Economy
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13 October 2022 00:39 AM Higher oil prices reinforce Gulf’s economic growth in 2023 – UBS’ Bolliger
By: Malek Salama Mubasher: Higher oil and gas prices will boost the Gulf economies throughout 2022 and 2023, Michael Bolliger, Chief Investment Officer for Emerging Markets at UBS Global Wealth Management, told Mubasher. Bolliger stressed the need …
Commodities
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12 October 2022 03:34 PM Arab bourses’ market cap reaches $4.21trn by September – AMF
Mubasher: The market cap value of the Arab stock exchanges reached $4.21 trillion at the end of September 2022, according to a recent report by the Arab Monetary Fund (AMF). On a monthly basis, the 13 Arab bourses recorded a 3.24% decline in …
Global Economy
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11 October 2022 03:28 PM Egypt dominates Forbes Middle East 30 Under 30 list
Mubasher: Egyptians have reigned the 2022 list of Forbes Middle East 30 Under 30 with 12 entries of entrepreneurs, pioneers, creatives, and athletes. The UAE followed with 10, while Lebanon contributed with five and Saudi Arabia with three …
Sector Reports
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9 October 2022 03:15 PM ADX’s vibrant derivatives market welcomes 5 more single stock futures
Abu Dhabi - Mubasher: The Abu Dhabi Securities Exchange (ADX) introduced five more single stock futures in a further step to develop its derivatives market. Starting from 6 October, stock futures on Abu Dhabi Islamic Bank (ADIB), Abu Dhabi …
Macroeconomics
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29 September 2022 04:40 PM IHC’s unit launches global trading and digital onboarding platform
Abu Dhabi – Mubasher: International Securities has launched a new global trading and digital onboarding platform for local and international investors. The new digital platform will enable investors worldwide to generate national investor number …
Trading Activities
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15 September 2022 11:53 PM GCC asset managers forecast surge in AUM on higher oil prices – Moody's
Mubasher: Asset managers in the Gulf region expected that higher oil prices would boost their assets under management (AUM) and attract larger fund inflows, according to Moody's 2022 survey of chief investment officers (CIOs) from eight GCC fund …
Macroeconomics
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29 June 2022 02:20 PM Bitcoin, Ethereum most traded cryptocurrencies among MENA clients – Saxo Bank
Mubasher: Bitcoin and Ethereum have been the most traded digital currencies in the MENA region, multi-asset trading and investment specialist Saxo Bank said. Through its Crypto FX platform, Saxo Bank noted that the majority of transactions were …
Global Economy
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26 June 2022 07:15 PM Tadawul to launch Single Stock Futures in July; 10 listed firms chosen
Riyadh – Mubasher: The Saudi Exchange (Tadawul) will launch Single Stock Futures (SSFs) contracts on 4 July this year to enable the expansion of its Derivatives Market and products. The first tranche of the SSFs will be based on 10 listed …
Global Economy
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14 April 2022 06:49 PM Online broker FxPro enters Middle East through UAE office
UAE - Mubasher: FxPro, an international online forex broker, has opened its office in Dubai in the UAE, marking its entry into the Middle East market. This comes in line with the broker’s expansion plans to maintain and further develop close …
Companies Investments