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28 June 02:15 PM DIFC initiates 1st Open Finance Lab in region; listed banks participate
UAE – Mubasher: Dubai International Financial Centre (DIFC) has launched the first Open Finance Lab in the region on Tuesday, 28 June this year, according to a press release. The initiative is a six-month programme in which four banks and a …
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26 June 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 …
25 April 07:12 PM DAMAC’s parent company unveils $100m plans to enter metaverse
UAE - Mubasher: UAE-based DAMAC Group, the parent company of the listed Damac Properties Dubai Copmany, has announced plans to launch its digital products including virtual homes, property, and jewellery in the metaverse world. The group intends …
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20 January 12:59 AM IHC sets up subsidiary to launch Rebound Plastic Exchange
Abu Dhabi – Mubasher: International Holding Company (IHC) has established a new subsidiary, dubbed Rebound Ltd, to launch Rebound Plastic Exchange as an innovative solution that aims to reduce the world’s plastic pollution. Rebound Plastic …
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14 December 2021 03:54 PM Aramex, Virtuzone to provide regional e-commerce startup programme with solutions
Mubasher: Aramex has teamed up with Virtuzone to offer logistics and shipping solutions to the members of AMP, an e-commerce startup accelerator programme in the MENA region. Under the partnership, Aramex will provide AMP members with special …
A committee has been formed to study investment opportunities in these countries
4 October 2021 01:33 PM Talaat Moustafa Group considers expansion in Saudi Arabia, Iraq
Cairo – Mubasher: Talaat Moustafa Group Holding (TMG Holding) is planning to expand in Saudi Arabia and Iraq, CEO and Managing Director Hisham Talaat Mostafa said.  The CEO pointed out that there is a great opportunity for major real estate …
The segment brings the total length of the 2Africa cable system to over 45,000 km
28 September 2021 03:47 PM 2Africa consortium extends subsea cable system to Arabian Gulf, India, Pakistan
Mubasher: The 2Africa consortium, comprised of China Mobile International, Facebook, MTN GlobalConnect, Orange, Saudi Telecom Company (stc), Telecom Egypt, Vodafone, and WIOCC, announced that a new segment has been added to the 2Africa subsea …
The substations have a capacity to power about 1.3 million households.
6 September 2021 01:26 PM Elsewedy Electric, Toyota Tsusho complete four GIS substations in Iraq
Cairo – Mubasher: Elsewedy Electric Co and Toyota Tsusho Corporation (TTC) announced the completion of the engineering, procurement, and construction (EPC) contract of four gas-insulated switchgear (GIS) substations for the Iraqi Ministry of …
Saudi Arabia set Arab Light OSP to Northwest Europe at a discount of $1.70/barrel
4 August 2021 03:14 PM Aramco raises September crude official selling prices for Asia
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has increased the September official selling prices (OSPs) for its Arab light crude to $3 per barrel above the Oman/Dubai average for Asia, Reuters reported on Wednesday. The Kingdom has …
Aramco confirms that these claims are completely false
2 August 2021 10:44 AM Aramco denies mining Bitcoin
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has refuted the news reporting that it would embark on Bitcoin mining activities, according to a press release on Monday. “Aramco confirms that these claims are completely false and …
Dana Gas collected $98 million from Egypt
15 July 2021 10:55 AM Dana Gas collects $185m from KRI, Egypt in H1-21
Abu Dhabi - Mubasher: Dana Gas has collected $185 million (AED 678 million) in collections from the Kurdistan Region of Iraq (KRI) and Egypt in the first half (H1) of 2021, rising by 106% year-on-year (YoY). Collections registered a record high …
Tabuk will hold the marketing authorisation for the COVID-19 vaccine
13 June 2021 01:11 PM Astra Industrial’s unit partners with Moderna to commercialise vaccine
Riyadh – Mubasher: Astra Industrial Group said its subsidiary Tabuk Pharmaceutical Manufacturing Company has signed a contract with Moderna to commercialise the latter’s COVID-19 vaccine and future variant-specific booster candidates in Saudi …
The deal offers a repayment period of up to 36 months
30 May 2021 02:48 PM SFD signs $10m agreement with National Bank of Iraq
Riyadh- Mubasher: The Saudi Fund for Development (SFD) has penned an agreement with the National Bank of Iraq (NBI) to provide credit facilities worth $10 million to Iraqi investors willing to import Saudi products. The five-year deal offers a …
Seera will be the exclusive partner of Klook in the Kingdom
17 May 2021 03:57 PM Seera, Klook to boost digital transformation of tourism sector
Riyadh – Mubasher: Seera Group has entered into a strategic partnership with travel and leisure booking platform Klook to enhance the digital transformation and growth of Saudi Arabia’s tourism sector, according to a press release on Monday. Seera …