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5 December 05:04 PM DFM’s carbon credits pilot platform debuts at COP28 as trading commences; listed entities take part
Dubai – Mubasher: The carbon credits trading pilot programme by Dubai Financial Market (DFM) was launched on 5 December 2023, where institutional investors will be able to buy and sell until 11 December. Making its debut at the 28th UN Climate …
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22 November 01:40 PM CMA greenlights MBC Group's IPO on Tadawul
Riyadh – Mubasher: MBC Group plans to proceed with an initial public offering (IPO) and the listing of its ordinary shares on the Main Market of the Saudi Exchange (Tadawul). The Capital Market Authority (CMA) approved the group’s IPO on 21 …
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25 October 04:10 PM Infantino, Attias highlight football industry during FII7
Riyadh – Mubasher: The football industry amounts to $200 billion of gross domestic product (GDP) as of 2018, with 70% coming only from Europe, President of FIFA, Gianni Infantino, said on the first day of the seventh Future Investment Initiative …
Bijan Alizadeh and Munaf Ali, Co-Founders of Phoenix Group
15 October 08:56 AM UAE’s crypto solutions firm Phoenix Group eyes listing on ADX
UAE – Mubasher: Abu Dhabi-based blockchain and crypto solutions company Phoenix Group plans to float its shares on the Abu Dhabi Securities Exchange (ADX), according to a press release. Through its initial public offering (IPO), Phoenix Group …
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12 October 11:53 AM Egypt, Saudi Arabia, UAE, dominate MENA’s $3trn construction projects – JLL
Mubasher: The aggregated estimated value of the construction development pipeline in the MENA region has surpassed $3 trillion with Egypt, Saudi Arabia, and the UAE acquiring more than 60% of it, according to JLL’s Construction Market Intelligence …
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10 October 02:02 PM Shariah-compliant crypto Islamic Coin fuels global expansion via KuCoin listing
Mubasher: Shariah-compliant cryptocurrency Islamic Coin announced its listing on KuCoin, one of the world's biggest cryptocurrency exchanges, according to a press release. The launch, which took place on 10 October 2023, marks the first of a …
1st Investor
27 September 11:09 AM Mubasher Global launches 1st Investor competition in US market
Mubasher: Under the sponsorship of Mubasher Global, the 1st Investor Competition for traders in the US stock market will kick off next month, from 2 until 31 October 2023. Registration for Mubasher’s U.S. markets Virtual Stock Trading Competition …
1st Invstor
24 September 02:44 PM Mubasher Global launches 1st Investor contest to support investing in EGX
Mubasher: Mubasher Global is launching the Egyptian Exchange (EGX) Virtual Stock Trading Competition – Season 9, where participants will be getting a virtual amount equivalent to EGP 100,000 to start actual trading. The one-month contest, which …
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21 September 09:05 AM MENA-focused ADES Holding’s IPO implies over $4bn valuation
Riyadh – Mubasher: ADES Holding Company, a leading oil and gas drilling and production services provider in the MENA region, set the final offer price for its initial public offering (IPO) on the Saudi Exchange (Tadawul) at SAR 13.50 per share. …
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10 September 01:59 PM UAE Carbon Alliance plans $450m purchase of African carbon credits by 2030
UAE – Mubasher: The UAE Carbon Alliance intends to pledge an indicative intended purchase amounting to $450 million in African carbon credits by 2030. The targeted purchase is a result of a recent non-binding Letter of Intent between the UAE …
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3 August 04:54 PM UAE stock markets close Thursday down; Tadawul, EGX show mixed performance
Mubasher: The main index (DFMGI) of Dubai Financial Market (DFM) as well as FADGI, the benchmark index of Abu Dhabi Securities Exchange (ADX), ended Thursday’s session in the red zone. As for the Saudi Exchange (Tadawul), the main market’s All …
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23 July 04:10 PM Kuwait reportedly to establish sovereign fund Ciyada
Mubasher: Kuwait prepares to launch a state-owned sovereign fund to grow its local economy, finance megaprojects, and diversify its investment spectrum from foreign investors as well as the private sector, Reuters recently cited a government plan. …
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23 July 03:40 PM UAE rises to 29th place in UNIDO’s CIP Index, leads Arab countries
UAE - Mubasher: The UAE came first among Arab countries and 29th worldwide in UNIDO’s Competitive Industrial Performance Index (CIP), advancing two places from 2022 ranking, according to a press release. The index ranks 153 countries from across …
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28 June 03:44 PM Egypt launches digital platform EUG to boost petroleum sector
Cairo – Mubasher: Egypt’s Ministry of Petroleum and Mineral Resources announced the launch of Egypt Upstream Gateway (EUG), a digital platform to promote oil and gas opportunities in the country. Taking the local petroleum sector to a global …
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27 June 05:17 PM UAE-headquartered Bybit secures 2 licences
UAE – Mubasher: Bybit, headquartered in Dubai, has obtained a licence to operate a crypto exchange in addition to offering custody services in Cyprus. The acquired licence from the regulatory authorities in Cyprus will enable the platform to offer …
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14 June 06:12 PM Saudi oil giant Aramco tops Forbes ME's 100 Listed Companies 2023
Mubasher: Saudi Arabia has dominated Forbes Middle East’s Top 100 Listed Companies with 33 entries, followed by the UAE with 28, Qatar with 16, and Kuwait with nine. Stock markets have been under pressure amid high inflation and global unrest, as …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …
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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 …