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The price of 24-karat gold amounted to EGP 1,046 per gram
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 …
The Sukuk aims to reinforce the bank's capital
03:50 PM Khaleeji Commercial Bank finalises $159m Sukuk issuance
Dubai - Mubasher: Khaleeji Commercial Bank has closed $159 million Sukuk issuance fully covered by GFH Financial Group as the sole subscriber, according to a press release on Wednesday. Issued following the approval of regulatory authorities and …
Only the main index declined for the second session in a row
02:33 PM Boursa Kuwait closes Wednesday in green
Mubasher: Boursa Kuwait rose on Wednesday, as the all-share index added 0.16%, while the premiere market index increased by 0.35%. The BK 50 index levelled up by 0.06%, while the main index declined, for the second day in a row, by 0.36%. Trading …
02:02 PM Beirut explosion causes $3-5bn damages – Governor
Mubasher: The massive blast that shook the Lebanese capital on Tuesday caused between $3 billion and $5 billion worth of damage.
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4 August 04:55 PM Bahrain Kuwait Insurance’s profits up 11% in H1
Mubasher: Bahrain Kuwait Insurance Company gained KWD 2.301 million (approx. $6.06 million) in net profits during the first six months of 2020, 11% higher than KWD 2.073 million ($5.45 million) in the same period a year earlier. The annual rise in …
The sale will result in KWD 515,000 losses
4 August 03:53 PM Al Salam's unit sells 51.2% stake in House of Business
Mubasher: A subsidiary of Al Salam Group Holding has sold a 51.2% stake in House of Business Holding company at a total value of KWD 3.75 million ($12.3 million). Aldossor International Company For Trading and Construction has inked an agreement …
4 August 02:49 PM Nestlé reports 9.5% drop in H1 sales
Nestlé said its total sales fell 9.5% in the first six months of 2020 to stand at CHF 41.2 billion.
4 August 02:12 PM BP reports $16.8bn quarterly losses, slashes dividends
Energy giant BP on Tuesday reported losses of $16.8 billion for the second quarter (Q2) of 2020.
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4 August 12:42 PM Kuwaiti investor plans to buy A.S. Roma
Mubasher: Kuwaiti businessman Fahad Al Baker announced that he has submitted an offer to acquire A.S. Roma, a football club in Italy. “I can now confirm that we have submitted an offer to Mr. Pallotta for the acquisition of A.S. Roma,” the …
Alafco’s order book with Boeing was reduced to 20 aircrafts instead of 40
4 August 10:28 AM Alafco discontinues lawsuit filed against Boeing
Mubasher: Alafco Aviation Lease and Finance Company has discontinued its legal claim filed against The Boeing Company after reaching an agreement.  Alafco’s order book with Boeing was reduced to 20 aircrafts instead of 40 and the delivery dates …
Mabanee turned to losses in Q2-20
4 August 09:57 AM Mabanee’s profits shrink 94% in H1-20
Mubasher: The net profits of Mabanee Co plunged by 94.4% on a yearly basis during the first half (H1) ended on 30 June 2020, reaching KWD 1.56 million ($5.11 million) from KWD 27.8 million ($91.11 million) in H1-19 The drop in H1-20 earnings is …
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4 August 09:34 AM Saudi customs relaxes restrictions for GCC trucks
Riyadh – Mubasher: Saudi Customs has eased the precautionary measurements imposed on trucks arriving from GCC countries, allowing those carrying goods for the kingdom to enter via land ports. However, truck drivers will be checked for COVID-19 …
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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 …
The FDI inflow to the Arab region could shrink by more than 21% in 2020
3 August 12:09 PM Saudi Arabia is most attractive GCC destination for FDI in Q1
Riyadh – Mubasher: The number of new foreign direct investment (FDI) projects launched by GCC states to other countries went down by 8% in the first quarter (Q1) of 2020 to stand at 70 projects valued at $4.9 billion. The projects’ investment cost …
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, …
The transaction will significantly strengthen the lender’s financial position
3 August 09:31 AM Khaleeji Commercial Bank issues $159m Sukuk
Dubai - Mubasher: Khaleeji Commercial Bank has successfully issued Sukuk worth $159 million, subject to approvals from regulatory authorities and the extraordinary general meeting (EGM). Shareholders supported the bank to issue Additional Tier 1 …
2 August 06:02 PM Siemens Healthineers to acquire Varian for $16.4bn
Mubasher: German health group Siemens Healthineers signed a deal to acquire the US Varian Medical Systems Inc in an all-cash transaction worth $16.4 billion.
The ministry also recorded four new COVID-19 deaths
2 August 05:14 PM Kuwait records 463 new coronavirus cases
Mubasher: The Kuwaiti Ministry of Health reported 463 new coronavirus (COVID-19) cases, bringing the total to 67,911. The new cases include 319 Kuwaitis and 144 foreigners, according to a statement on Sunday. The ministry also recorded four new …
Kuwait decided to suspend its commercial flights from 31 countries
2 August 04:34 PM Kuwait to review ban on flights from Egypt – Minister
Mubasher: Kuwait will review the suspension of flights from Egypt, the Kuwaiti minister of foreign affairs, Sheikh Ahmad Nasser Al-Mohammad Al-Sabah, said in a phone call with his Egyptian counterpart Sameh Shoukry.  The ministers agreed that the …
30 July 04:31 PM TikTok to offer creators $2bn in next three years
TikTok is planning to give its creators over $2 billion in the next three years.
A death case was confirmed
30 July 03:23 PM Kuwait's COVID-19 cases total 66,529
Mubasher: Kuwaiti Ministry of Health announced on Thursday 626 new coronavirus (COVID-19) cases to bring the total number of cases to 66,529.  The total number of recovered coronavirus (COVID-19) cases has increased to 57,330 after 863 new …
The new plane is the last one of this model
30 July 11:25 AM EgyptAir receives eighth Airbus A320neo plane
Cairo – Mubasher: EgyptAir has received its eighth Airbus A320neo family plane at the Cairo International Airport, coming from the Airbus factory in Toulouse in France, the chairman of EgyptAir Holding Company, Mohamed Roshdy Zakaria, announced. …
29 July 05:57 PM GE posts wider than expected loss in Q2
General Electric Co (GE) lost less than expected cash in the second quarter (Q2) of the year.
29 July 05:55 PM Investors value TikTok at $50bn for takeover
TikTok has been valued at around $50 billion by some investors planning to control the social media application.
Traded values totalled KWD 29.73 million
29 July 03:32 PM Boursa Kuwait indices close Wednesday in red
Mubasher: Boursa Kuwait closed Wednesday in red, as the all-share and premiere market indices declined by 1% and 1.34%, while the main market and BK 50 decreased by 0.08% and 0.39%, respectively. Traded values totalled KWD 29.73 million, with a …