Stocks News

The service is expected to be completely restored gradually within a few days
2 January 11:29 AM TE works to solve internet problem in Egypt, other countries
Cairo – Mubasher: Telecom Egypt (TE) has announced that it is working on resolving a problem regarding the internet efficiency in Egypt and some neighbouring countries. The service is expected to be completely restored gradually within a few days, …
SABIC reopens its office in Iraq
5 December 2017 05:19 PM SABIC reopens its office in Iraq
Riyadh – Mubasher: Saudi Basic Industries Corp (SABIC) on Tuesday said it reopened its office in Iraq. SABIC, and delegations from the Kingdom's public and private sectors are participating in Basra International Oil and Gas Conference and …
Emaar Properties will commence the construction of the project in 2018
27 November 2017 10:14 AM Emaar Properties to execute AED 37bn project in Iraq
Dubai – Mubasher: Central Bank of Iraq’s governor Ali Mohsen Al-Alaq on Monday unveiled an agreement with the UAE’s Emaar Properties to implement the new Al-Rasheed Residential City Project with total investments of $10 billion (AED 36.8 billion). …
Emaar Properties’ unit eyes global hotel portfolio expansion
19 November 2017 10:48 AM Emaar Properties’ unit eyes global hotel portfolio expansion
Dubai - Mubasher:  Oliver Harnisch, CEO of Emaar Hospitality Group, has said that the group intends to double its hotel portfolio four times by 2021. Harnisch explained that the Emaar Properties subsidiary  has 30 hotels under development in the …
Saudi Prince Alwaleed bin Talal is rumoured to be selling his hotels in Beirut
14 November 2017 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 …
Kingdom Holding Company’s (KHC) stocks dropped by 7.6% on Sunday before sliding by 5.6% on Monday
7 November 2017 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 project will be the first major scheme involving the two state giants
25 October 2017 09:47 PM Aramco, SABIC receive bids for $20bn petrochemicals project
Riyadh - Mubasher: Saudi Aramco and Saudi Basic Industries Corp (SABIC) have reportedly received project management consultancy bids for a planned joint venture oil-to-chemicals project, industry sources told Reuters on Wednesday. The two Saudi …
Aramco is the biggest oil company in the world
24 October 2017 11:46 PM Aramco to decide on COTC with SABIC by year-end
Riyadh - Mubasher: Saudi Aramco expects to decide on the plans for a joint oil-to-chemicals project with Saudi Basic Industries Corp (SABIC) by the end of 2017, as reported by the Reuters. “We finished the feasibility. We are at a stage where we …
All of the company’s employees are on site and carrying out their duties normally
19 October 2017 00:08 PM Dana Gas affirms usual operations in Kurdistan
Abu Dhabi – Mubasher: Dana Gas, listed on Abu Dhabi Securities Exchange (ADX), on Thursday affirmed that its operations and production in the Kurdistan Region of Iraq (KRI) are proceeding as usual. “The Company continues to supply gas to the power …
The company aims by establishing these new subsidiaries to enter the Jordanian, Iraqi, and Asian markets
19 October 2017 11:44 AM SIEC launches subsidiaries in UAE, Jordan
Riyadh – Mubasher: Saudi Industrial Export Company (SIEC) on Wednesday announced the launching of two 100%-owned subsidiaries in the UAE and Jordan. The company aims by establishing these new subsidiaries to enter the Jordanian, Iraqi, and Asian …
This acquisition step is expected to expand Investcorp’s geographic footprint
18 October 2017 05:06 PM Investcorp acquires UK Kee Safety in $370m deal
Mubasher: Investcorp announced its agreement on acquiring Dunedin’s stake in the UK-based Kee Safety for a total value of GBP 280 million ($370 million), according to a recent statement. Investcorp is a leading provider and manager of alternative …
The project would include 70,000 units and villas
19 September 2017 02:58 PM Emaar to invest $17bn in Baghdad
Dubai – Mubasher: Minister of industry and minerals Mohammed Shia' Al Sudani announced that Emaar Properties is planning to establish a residential complex in Baghdad downtown, costs $17 billion. The project would include 70,000 units and villas, …
Emaar recently unveiled the Cove 1 in the region
18 September 2017 09:31 AM Emaar launches Address Harbour Point
Dubai – Mubasher: Emaar Properties launched the two-tower Address Harbour Point in the heart of Dubai Creek Harbour, according to Al Bayan newspaper. The first tower is made up of 65 storeys and the second has 53 storeys, featuring a total of 202 …
The payment was received on 30 August 2017
5 September 2017 05:54 PM Kurdistan pays $1bn to Dana Gas
Abu Dhabi – Mubasher: The Kurdistan Regional Government of Iraq (KRG) paid $1 billion to Pearl Petroleum, a 35%-owned subsidiary of Dana Gas, as part of a recent settlement agreement. The payment was received on 30 August 2017, the same day the …
Dana Gas Egypt’s production output grew by 13% during the first half of 2017
15 August 2017 04:02 PM Dana Gas to drill 3 new wells in Egypt
Abu Dhabi – Mubasher: Dana Gas on Tuesday said its receivables from the Egyptian government contributed to its profit growth during the first half of 2017. The Sharjah-based gas company also announced plans to drill three exploration wells on …
Dana generated $142 million in free cash flow in H1-17
15 August 2017 00:27 PM UAE’s Dana Gas gets $135m in dues from Egypt
Abu Dhabi – Mubasher: Dana Gas on Tuesday said its receivables from the Egyptian government contributed to its profit growth during the first half of 2017. Dana generated $142 million in free cash flow in the period between January and June from …
Photo Archive
16 July 2017 10:05 PM KFH is world’s biggest in Sukuk issuance - Chairman
Kuwait - Mubasher: The chairman of Kuwait Finance House (KFH) said that the group is the biggest Sukuk issuer in the world, as demand is rising on the sharia-compliant product. Hamad Abdulmohsen Al Marzouk added in a statement issued on Sunday …
The port has a draft of up to 11 metres (tide free) and three 400-metre berths that can accommodate cruise vessels
6 July 2017 04:03 PM DP World Limassol to open new terminal
Dubai – Mubasher: A new terminal is scheduled to open in the summer at DP World Limassol port in Cyprus, according to a statement. Designed to accommodate the largest operating cruise vessels, the new terminal consists of seven pods with an …
QAR last recorded EGP 4.64 for selling and EGP 4.93 for buying on the bank's list
5 July 2017 09:14 PM ADIB - Egypt lifts QAR from its currencies
Cairo - Mubasher: Abu Dhabi Islamic Bank (ADIB) - Egypt has removed the Qatari Riyal from its exchange rates screen, as shown by the bank’s website. The QAR registered EGP 4.64 for selling and EGP 4.93 for buying in the bank’s trade on Tuesday. …
TAQA owns a 39.9% stake in the Atrush field
3 July 2017 06:14 PM TAQA starts oil production in Atrush field
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) on Monday announced starting oil production from its Atrush field in Kurdistan region of Iraq. Located 85 kilometres northwest of Erbil, the Atrush field is expected to produce more …
Photo Credit: Company Website
27 May 2017 06:57 PM DP World negotiates acquiring stake in Russian ports operator
 Dubai - Mubasher: DP World is in talks to buy a stake in a Russian transport operator company, the Financial Times reported. Summa Group is discussing selling a stake in Fesco, Russia’s largest ports and rail transport operator, to a consortium …
Photo Archive
27 May 2017 11:40 AM Agility to pay $95m to settle US contracts
Mubasher: Agility announced on Friday reaching an agreement to pay $95 million (KWD 28.8 million) in cash to settle a civil lawsuit accusing it of defrauding the United States military on food supply contracts, according to Reuters. On Wednesday …
Photo Credit: Press Release
20 May 2017 02:57 PM Egyptian new refinery to begin production in 2018
Cairo - Mubasher: The Egyptian minister of petroleum and mineral resources said that the Egyptian Refining Company’s (ERC) project is expected to be begin operating by the end of 2017. The minister added on the sidelines of his visit to the Cairo …
Photo Credit: Arabianeye-Reuters
16 May 2017 04:10 PM Crédit Agricole collected $1bn in 6M
By: Mostafa Adel Cairo - Mubasher: The managing director of Credit Agricole - Egypt said that the bank US dollar inflows from its customers reached $1 billion since the pound flotation until now. Francois Edouard Drion told Mubasher on Tuesday …
(Photo Credit: Arabianeye - Reuters)
11 May 2017 00:04 PM Dana collects $30m from Kurdistan in Q1
Abu Dhabi - Mubasher: Dana Gas collected $31 million from the Kurdistan Region of Iraq in the first quarter of 2017, representing approximately 119% of total billings, according to a bourse statement. This was due to direct sales of liquid …