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24 October 12:43 AM

Local Economy

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20 September 11:29 AM Saudi Arabia continues to be China’s top oil supplier in August
Riyadh – Mubasher: Saudi Arabia has retained its position as China's top crude oil supplier for the ninth month in a row during August, Reuters cited official data by China’s General Administration of Customs on Monday. Saudi oil exports to China …
Commodities
Photo Archive
16 September 04:56 PM Saudi oil exports hit six-month high in July
Riyadh – Mubasher: Saudi Arabia’s oil exports increased to 7.65 million barrels per day (bpd) in July, hitting the highest level in six months since recording 7.75 million bpd in January, according to official data on Thursday. The exports volume …
Commodities
Nihal El-Chami, Head of Programme and Marketing at Falak Startups
14 September 12:49 PM Startup Lounge: More VC investors now interested in Africa, Middle East – Nihal El-Chami
By: Marina Gamil Cairo – Mubasher: With the growing number of startups across different sectors, especially financial technology (FinTech), the dynamics of the venture capital (VC) landscape in Egypt have been changing with local and international …
Macroeconomics
Egypt will export gas to produce power in Jordan
8 September 01:55 PM Egypt looking to export gas to supply Lebanon with power
Cairo – Mubasher: Egypt aims to export natural gas as soon as possible to supply Lebanon with power, Reuters reported on Wednesday, citing the Minister of Petroleum and Mineral Resources, Tarek El-Molla, as saying.  This statement was …
Macroeconomics
The Egyptian payment portal myFawry has led Forbes Middle East list
31 August 10:58 AM Forbes Middle East releases region's top Fintech apps for 2021
Mubasher: Forbes Middle East has announced the region's 15 top Fintech apps 2021, with 9.5 million downloads and $6.9 billion worth of transactions in 2020. The Egyptian payment portal myFawry has been placed in the first position in the list with …
Macroeconomics
Saudi Arabia set Arab Light OSP to Northwest Europe at a discount of $1.70/barrel
4 August 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 …
Commodities
The Hajj season this year will witness a digitised journey from start to finish
13 July 01:37 PM How pilgrims benefit from digitisation when performing Hajj
By: Ingy ElSafy Mubasher: The COVID-19 pandemic has brought technology-enhanced methods that help authorities implement social distancing to preserve the health of people. Saudi Arabia will provide a digital Hajj (Muslim pilgrimage) this year and …
Sector Reports
GACA issued a circular to all airlines operating in Saudi Arabia
4 July 03:48 PM Saudi Arabia suspends flights to three destinations on COVID variant
Riyadh – Mubasher: Saudi Arabia’s General Authority of Civil Aviation (GACA) has suspended direct and indirect travel of citizens to the UAE, Ethiopia, and Vietnam without obtaining prior permission from the concerned authorities due to the …
Global Economy
Ahmed El-Alfi, Chairman of Sawari Ventures
22 June 04:46 PM Startup Lounge: Tech offers great opportunities for success – Interview with Ahmed El-Alfi
By: Moslem Ali Cairo - Mubasher: In the second instalment of our interview with the Founder and Chairman of Sawari Ventures, Ahmed El-Alfi, we discuss the future of technology and the opportunities of startups to succeed as technological …
Macroeconomics
Ahmed El-Alfi, Chairman of Sawari Ventures
21 June 01:01 PM Startup Lounge: High growth requires taking risks – Interview with Ahmed El-Alfi
By: Moslem Ali Cairo - Mubasher: Today’s guest in the Startup Lounge has played an integral role in developing the entrepreneurial scene in Egypt and the MENA region. He is one of the startup ecosystem leaders and investors who brought real …
Companies Investments
SAMA has claimed the Global Impact Award 2021 for Aber
16 June 03:21 PM SAMA says Aber project achieves main objectives
Riyadh – Mubasher: The Saudi Central Bank (SAMA) said the digital currency project Aber has succeeded to achieve its main objectives that mainly include understanding, experiencing, and analysing the maturity of the distributed ledger technology …
Macroeconomics
Dubai Health Authority (DHA)
13 June 04:29 PM Dubai says 80% of new COVID-19 cases were unvaccinated
UAE – Mubasher: The Dubai Health Authority (DHA) has revealed that vaccines against the coronavirus (COVID-19) reduce the risk of disease and hospitalization. The health authority has called upon everyone to get the vaccine, noting that eight out …
Macroeconomics
Plastic waste often impact marine life, ecosystems, and food chains
30 April 03:46 PM Egypt could soon ban single-use plastics amid COVID-19
By: Moslem Ali Cairo – Mubasher: Plastic bags that are often used for an average of 25 minutes could take more than 20 years to decompose, while other single-use plastic products, according to the World Wildlife Fund (WWF), might need between 400 …
Law
Noor Sweid, Founder and General Partner, Global Ventures
29 April 12:57 PM Startup Lounge: Health, edutech investments to flourish after pandemic – Noor Sweid
By: Ingy ElSafy Mubasher: The Middle East carries plenty of appeal for regional and international investors due to the favourable macroeconomic fundamentals that underpin these markets. Meanwhile, the sectors that have witnessed increased …
Initial Public Offerings
Egypt’s exports to Jordan increased to $495.4 million last year
27 April 02:58 PM Bilateral trade between Egypt, Jordan amounts to $616m in 2020
Cairo – Mubasher: Trade exchange between Egypt and Jordan grew to $616.3 million in 2020, compared to $567.5 million in 2019, the Head of the Egyptian Commercial Service Office in Amman, Mona Abboud, was cited as saying by the Middle East News …
Macroeconomics
Egypt's Minister of International Cooperation, Rania El-Mashat
26 April 01:41 PM Egypt to build greener more inclusive economy after COVID - Rania El-Mashat
By: Moslem Ali and Ahmed Allam Cairo – Mubasher: Egypt was the only country in the region to achieve positive economic growth last year, despite the coronavirus (COVID-19) pandemic. Now, the country aims at taking the recovery as a chance to …
Central Banks
The Kom Ombo solar plant is expected to serve 130,000 households
22 April 02:48 PM Egypt's largest solar plant secures $114m funding
Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD), the OPEC Fund for International Development (the OPEC Fund), the African Development Bank (AfDB), the Green Climate Fund (GCF), and Arab Bank signed a financing package …
Macroeconomics
UN in 2015 led its member states to adopt the 2030 Agenda for Sustainable Development
22 April 12:06 PM Are MENA countries on track with achieving SDGs?
By: Ingy ElSafy Mubasher: The United Nations (UN) led its member states in 2015 to adopt the 2030 Agenda with 17 Sustainable Development Goals (SDGs) that include 169 specific targets, covering social, economic, and environmental dimensions, in …
Global Economy
The currency will not replace cash and bank deposits
19 April 03:47 PM UK mulls creating new digital currency
Mubasher: The UK Treasury and Bank of England (BoE) announced the creation of a joint taskforce to explore a potential central bank digital currency (CBDC). The currency “would be a new form of digital money issued by the Bank of England and for …
Global Economy
Ibrahim El-Araby, Chairman of the Egyptian-Japanese Business Council
1 April 04:48 PM Japan invests $10m in new industrial complex in SCZone
Cairo – Mubasher: Ibrahim El-Araby, Chairman of the Egyptian-Japanese Business Council, announced the launch of the first Japanese investments in the Suez Canal Economic Zone (SCZone) through the establishment of a new industrial complex. With …
Companies Investments
Egypt's food exports to Jordan fell by 9% to $169 million in 2020
31 March 02:04 PM Egypt’s food exports to Jordan exceed $1bn between 2014-2020
Cairo – Mubasher: Egypt’s food exports to Jordan amounted to $1.047 billion from 2014 until 2020, the Deputy Executive Director at the Egyptian Food Export Council, Tameem El-Dawy, was cited by the Middle East News Agency (MENA) as saying. The …
Macroeconomics
Eng. Mohammed Al Ballaa, Chairman, Mubasher Financial Group
29 March 01:47 PM We aim at increasing investors in Arab markets - Mubasher Chairman
Riyadh – Mubasher: The Chairman of Mubasher Financial Group, Eng. Mohammed Al Ballaa, said on Monday that the use of financial technology (FinTech) has played a significant role in the success and growth of Mubasher companies. More than 10 years …
Macroeconomics
The ministers proposed the export of Egyptian and Jordanian products to Iraq without trade barriers
25 March 03:47 PM Egypt, Jordan, Iraq explore cooperation in energy, industry, other sectors
Cairo – Mubasher: The Minister of International Cooperation, Rania El-Mashat, chaired the Egyptian Ministerial Group in the ministerial coordination meeting virtually between Egypt, Jordan, and Iraq. The meeting was held to complete discussions on …
Macroeconomics
AFE Saudi Arabia 2021 will be held on 29-30 March
25 March 03:09 PM Saudi Arabia to host Arab Exchanges Federation Conference next week: Tadawul
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul), in partnership with the Arab Federation of Exchanges (AFE), is hosting the AFE Annual Conference Saudi Arabia 2021 from 29 to 30 March. The conference aims at creating a platform for …
Event
Minister of International Cooperation, Rania El-Mashat
24 March 03:13 PM Egypt, Jordan sign seven cooperation agreements
Cairo – Mubasher: The Egyptian Minister of International Cooperation, Rania El-Mashat, confirmed that the ministry will work on following up with the cooperation documents and agreements signed during the Joint Higher Committee meetings, in …
Macroeconomics