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13 August 11:56 AM

Local Economy

How the pandemic changed the e-payments outlook in MENA?
12 August 07:27 PM The future of e-payment solutions after COVID-19
By: Moslem Ali Cairo – Mubasher: “Stay Home” is a global call that spread across the world over the past months, signalling not only a new public policy and a health precaution against an infectious disease but a turning point in how markets …
Macroeconomics
Egypt's Minister of International Cooperation, Rania El-Mashat
9 August 05:54 PM Egypt launches first platform for closing the gender gap accelerator
Cairo – Mubasher: The Egyptian Ministry of International Cooperation and the National Council for Women with the World Economic Forum hosted the first multi-stakeholder platform on “Closing the Gender Gap Accelerator”, the first in Africa and MENA …
International Agreements
The joined members can now provide brokerage services for derivatives trading
9 August 05:11 PM Tadawul welcomes five members to derivatives market
Riyadh - Mubasher: The first group of the derivatives exchange members has joined the Saudi Stock Exchange’s (Tadawul) derivatives market after completing all necessary regulatory and technical requirements and procedures. The list includes NCB …
Markets Regulations
The third stage will be conducted on 5,000 participants in the kingdom
9 August 09:37 AM Saudi Arabia starts phase three clinical trial of COVID-19 vaccine
Riyadh – Mubasher: The Saudi Ministry of Health announced it began clinical trials for a coronavirus (COVID-19) vaccine in the kingdom, within the framework of a cooperation agreement between the kingdom and China, according to an official …
Global Economy
The price of 24-karat gold amounted to EGP 1,046 per gram
5 August 04:05 PM Egypt's gold prices rise to all-time high
Cairo – Mubasher: Gold prices continued its rising trend in the Egyptian market, reaching an all-time high on Wednesday, according to the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC). The price of 24-karat gold …
Commodities
Photo Archive
3 August 01:56 PM Average Dubai crude oil price rises to $43.278 pb in July
Dubai – Mubasher: The average Dubai crude price, as quoted by price-reporting agency S&P Global Platts, marked its highest since February after rising by 2.487% in July 2020, Reuters reported on Monday citing sources in the oil industry as …
Commodities
Forbes launched the list last year
3 August 11:02 AM Fashion sector represents 42% of Forbes’ Women Behind Middle Eastern Brands 2020 list
Mubasher: This year’s Women Behind Middle Eastern Brands 2020 featured female trailblazers who managed to sustain their successful brands and push the boundaries despite the COVID-19 pandemic. The list, launched initially last year by Forbes, …
Macroeconomics
The price of 24-karat gold stood at EGP 958.85 per gram
23 July 03:12 PM Gold prices register new record high in Egypt
Cairo - Mubasher: Gold prices in the Egyptian market recorded on Thursday its highest level ever, according to the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC). The higher gold prices in the Egyptian market came …
Macroeconomics
Kuwaiti oil settled at $44.45 per barrel
23 July 02:24 PM Kuwaiti oil gains $0.23 on Wednesday
Mubasher: The price of the Kuwait crude oil increased by 23 cents on Wednesday, according to data by the Kuwait Petroleum Corporation (KPC). Yesterday, Kuwaiti oil settled at $44.45 per barrel (pb), compared with $44.22 pb on Tuesday, Kuwait News …
Commodities
G42 Healthcare has partnered with Sinopharm CNBG
19 July 12:18 PM UAE begins world's first phase III trial for COVID-19 vaccine
UAE - Mubasher: Abu Dhabi is hosting the first WHO-enlisted global clinical phase III trial of Sinopharm CNBG’s inactivated vaccine to fight the coronavirus (COVID-19) outbreak. Abu Dhabi-based G42 Healthcare has partnered with Sinopharm CNBG, the …
Global Economy
BeIN Sports shall return all financial gains it obtained as a result of the violation
14 July 04:09 PM KSA imposes SAR 10m fine on BeIN Sports; terminates licence permanently
Riyadh - Mubasher: Investigations conducted by the Saudi General Authority for Competition (GAC) against BeIN Sports indicated that the channel had abused its dominant position and committed several monopolistic practices related to potential …
Markets Regulations
Egypt paid EGP 16 billion to farmers
14 July 03:46 PM Egypt buys EGP 3.5m tonnes of local wheat
Cairo – Mubasher: Egypt has purchased 3.5 million tonnes of wheat from local farmers during the current harvest season which began on 15 April and will end on 15 July. The government managed to reach its goal by achieving the highest supply level, …
Macroeconomics
Muqassa aims to support the growth of the Saudi capital market
14 July 11:45 AM Muqassa to commence operations on 30 August
Riyadh - Mubasher: The Securities Clearing Center Company (Muqassa) will begin its operations on 30 August 2020 after its establishment in 2018 and its licence earlier this year. Muqassa aims to support the growth of the Saudi capital market …
Derivatives
The launch will further develop the Saudi market
14 July 10:21 AM Tadawul to launch derivatives market in August
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) will launch the Derivatives Market on 30 August 2020 to start trading of the kingdom's first exchange-traded derivatives product. The launch is an important step to develop the Saudi market. …
Event
The EGP appreciated by 10.8% against the US dollar
13 July 05:28 PM Egypt leads emerging market currencies in 3 yrs – Cabinet
Cairo – Mubasher: The Egyptian pound has become the top performing currency among emerging markets during the last three years despite the coronavirus (COVID-19) crisis, according to data released by the cabinet’s media centre. From 30 June 2017 …
Currencies
The USD declined to EGP 15.09 for purchasing at AAIB
13 July 02:08 PM EGP rises against USD at local banks on Monday
Cairo – Mubasher: The US dollar exchange rate slid against the Egyptian pound at seven local banks on Monday. The greenback fell to EGP 15.89 for buying and EGP 15.99 for selling at Commercial International Bank (CIB) and Suez Canal Bank. …
Banking and Finance
Aramco will decrease the August Arab Heavy crude supplies by about 10%
13 July 10:44 AM Aramco slashes August heavy crude supplies to six Asian buyers
Riyadh - Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) will slash its August-loading shipments of medium and heavy crude grades to at least six Asian buyers, Reuters reported on Monday citing sources familiar with the matter. Buyers in …
Macroeconomics
Domestic consumption of LPG fell by 2.5% YoY in 2019
12 July 04:23 PM Saudi Arabia consumes 1.5bn barrels of oil in 2019
Riyadh - Mubasher: Saudi Arabia’s local consumption of refined petroleum products, crude oil, liquefied petroleum gas (LPG), and natural gas showed marginal annual growth during 2019.  The kingdom’s domestic consumption of petroleum products …
Macroeconomics
The decision was made after reviewing Brent prices from April to June
9 July 11:08 AM Egypt keeps fuel prices on hold for 3M
Cairo – Mubasher: The Egyptian fuel pricing committee decided to maintain the prices of fuel unchanged for three months until the end of September.  The per-litre prices of 80-octane, 92-octane, and 95-octane gasoline are left at EGP 6.25, EGP …
Macroeconomics
The shipment is expected to take place between 8 and 18 August.
8 July 11:21 AM Egypt buys 230,000 tonnes of Russian wheat
Cairo – Mubasher: The Egyptian General Authority for Supply Commodities (GASC) has purchased 230,000 tonnes of Russian wheat in an international tender on Tuesday, Reuters reported. The shipment is expected to take place between 8 and 18 August. …
Commodities
This is NEOM’s first partnership with leading renewable energy partners
7 July 03:47 PM NEOM, ACWA Power, Air Products ink $5bn agreement
Riyadh - Mubasher: Air Products has signed an agreement with ACWA Power, and NEOM for a $5 billion world-scale green hydrogen-based ammonia production facility powered by renewable energy. The project, equally owned by the three partners, will be …
Companies Investments
The airline aims to operate nearly 45% of its pre-COVID capacity by August
7 July 12:54 PM Etihad Airways to expand services to 58 cities worldwide
Abu Dhabi - Mubasher: Etihad Airways announced the gradual expansion of normal scheduled services to more cities across its global network following the relaxation of COVID-19 travel restrictions on outbound and inbound travel for citizens and …
Global Economy
The offers will be received on Tuesday 12:00 pm
7 July 10:49 AM Egypt launches int’l wheat tender
Cairo – Mubasher: The Egyptian General Authority for Supply Commodities (GASC) launched on Monday a global tender to import an unspecified amount of wheat during the period from 8 to 18 August, Reuters reported. The offers will be received on …
Commodities
Fields in the zone could produce around 500,000 b/d
6 July 11:32 AM Saudi Arabia, Kuwait resume oil output from Al Wafra, Khafji
Mubasher: Saudi Arabia and Kuwait have resumed crude oil production from Al Wafra oilfield on 1 July after it has been halted for five years, the Kuwaiti Ministry of Oil announced on Monday. Meanwhile, crude oil production from Khafji oilfield, …
Commodities
Aramco raised August prices to all markets
6 July 11:04 AM Saudi Aramco raises August oil prices
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has raised the August official selling prices (OSP) for its Arab light crude oil sold to all markets, Reuters reported on Monday. The oil giant set the August OSP for Asian customers …
Macroeconomics