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14 January 03:38 PM PepsiCo plans to achieve net-zero emissions by 2040
PepsiCo seeks to achieve net-zero emissions across its production cycle system by 2040.
13 January 05:19 PM Chipmaker Qualcomm to acquire NUVIA for $1.4bn
Mubasher: Mobile-phone chipmaker Qualcomm Inc said an agreement to acquire NUVIA, a chip startup founded by three of Apple’s top executives, for about $1.4 billion.
IFA has settled and rescheduled 86% of its total debt
13 January 02:58 PM IFA witnesses precautionary seizure by local bank
Mubasher: International Financial Advisors (IFA) has announced a precautionary seizure by one of the local banks on the company due to an owed amount of KWD 8.8 million ($29 million). The debt amount is subject to a dispute between the company and …
The oil price is predicted to stabilise at around $50 per barrel
12 January 04:02 PM Global Sukuk issuance expected to rise to $140-$155bn in 2021
Mubasher: Global Sukuk issuance is expected to rise to around $140-$155 billion in 2021, driven by a recovery in issuance in Malaysia, Indonesia, and the GCC countries, according to a report by S&P Global Ratings. In 2020, the global Sukuk …
The issued bonds and related Tawarruq have a return rate of 1.125%
11 January 04:36 PM CBK issues KWD 240m bonds
Mubasher: The Central Bank of Kuwait (CBK) has issued bonds and related Tawarruq at a total value of KWD 240 million, according to a press release on Monday. With a three-month maturity period, the issued bonds and related Tawarruq have a …
The UAE’s Minister of State for Foreign Affairs, Anwar Gargash
7 January 01:44 PM UAE says trade, transport may resume with Qatar within week
Abu Dhabi – Mubasher: Trade and transportation could resume between Qatar and boycotting countries within a week, Reuters reported on Thursday citing the UAE’s Minister of State for Foreign Affairs, Anwar Gargash. “Some issues are easier to fix …
Qatar’s foreign reserves continued to rise for the 34th successive month in December 2020.
7 January 01:03 PM Standard Chartered expects Qatar’s economy to grow 3% this year
Doha – Mubasher: Standard Chartered expected Qatar’s economy to grow by 3% this year as the easing of a three-year-old regional dispute will help trade, tourism, and logistics, Reuters reported. The British lender had revised its previous 2.1% …
The greenback slid to EGP 15.63 for purchasing
6 January 05:51 PM EGP continues to advance against USD on rising foreign reserves
Cairo – Mubasher: The US dollar exchange rate dropped against the Egyptian pound by EGP 0.04 in the first week of 2021 as foreign reserves rose to more than $40 billion. According to data by the Central Bank of Egypt (CBE), the average exchange …
6 January 02:39 PM GM's 2020 China sales see third annual drop on pandemic
General Motors Co’s vehicle sales in China dropped by 6.2% in 2020, attributed to a prolonged sales slowdown in the world’s biggest auto market.
Saudi Arabia's Crown Prince Mohammed bin Salman signing the agreements.
5 January 04:44 PM Gulf leaders sign 41st GCC summit closing statement, Al ULA agreement
Riyadh – Mubasher: Gulf leaders on Tuesday have inked the closing statement of the 41st GCC summit and Al ULA agreement. The annual GCC summit kicked off today at Maraya Concert Hall in Saudi Arabia’s Al ULA city, with the presence of all member …
KUFPEC holds a 25% interest in the West Mediterranean concession
5 January 03:54 PM KUFPEC inks exploration, production agreement with EGAS
Mubasher: Kuwait Petroleum Exploration Company (KUFPEC) signed an exploration and production agreement with the Egyptian Natural Gas Company (EGAS) in the offshore Ras Kanayes of Herodotus Basin in the West Mediterranean concession, Kuwait News …
Accounts receivable will decrease by KWD 2.249 million
5 January 03:49 PM Ekttitab Holding inks contract to settle KWD 2m debt
Mubasher: Ekttitab Holding, listed on the Dubai Financial Market (DFM) and Boursa Kuwait, has inked a contract to settle the KWD 2.25 million ($7.42 million) debt balance due from Investors Group Holding Company. To settle the debt, Ekttitab …
Egypt’s Foreign Minister, Sameh Shoukry, will also take part in the annual summit.
5 January 03:17 PM 41st GCC summit kicks off in Saudi Al ULA city
Riyadh – Mubasher: The 41st GCC summit has kicked off on Tuesday in Saudi Arabia’s Al ULA city. Earlier today, Gulf Arab leaders headed to Saudi Arabia to attend the summit. Egypt’s Foreign Minister, Sameh Shoukry, will also take part in the …
KSA achieved a trade surplus with Gulf nations of SAR 19 billion ($5.07 billion) in the January-October period.
5 January 02:05 PM Saudi, GCC trade exchange reaches SAR 97.9bn in 10M
Riyadh – Mubasher: Saudi Arabia’s trade exchange with GCC states plunged by 18.7% on an annual basis during the first ten months of 2020, pressured by the coronavirus pandemic.  The exchange value stood at SAR 97.89 billion ($26.1 billion) over …
Kuwait's Emir heading to KSA for the GCC summit earlier today.
5 January 11:42 AM Gulf leaders head to 41st GCC summit in KSA
Mubasher: Kuwait’s Emir, Sheikh Nawaf al-Ahmad al-Jaber al-Sabah, headed to Saudi Arabia on Tuesday to attend the 41st GCC summit, which will be hosted in Al ULA city.  On Monday, Qatar said that its Emir, Sheikh Tamim bin Hamad al-Thani, will …
Kuwait’s Foreign Minister, Ahmad Nasser al-Sabah
5 January 10:42 AM KSA reopens airspace, land border to Qatar
Riyadh – Mubasher: Saudi Arabia has reopened its airspace and land and sea border to Qatar as of Monday, 4 January, Reuters said citing Kuwait’s Foreign Minister, Ahmad Nasser al-Sabah. “An agreement has been reached to open airspace and land and …
The short term margin trading was recently added to the DFM
4 January 04:42 PM DFM licenses BH Mubasher as first short term margin trading provider
Dubai – Mubasher: The Dubai Financial Market (DFM) has granted BH Mubasher Financial Services a license to become the first short term margin trading provider on the market. The short term margin trading was recently added to the DFM, as part of …
4 January 03:09 PM US airlines’ 2020 losses could top $35bn on pandemic
The Covid-19 pandemic has been brutal for US airlines, with carriers’ 2020 net losses likely topped $35 billion.
4 January 02:20 PM Peugeot owner's top shareholders nod to merger with Fiat
The top shareholders in Peugeot owner PSA have approved the group’s merger with Fiat Chrysler (FCA).
4 January 01:55 PM Eurozone manufacturing growth at fastest pace since May 2018
Mubasher: The eurozone manufacturing sector ended 2020 on a high note, with output growing at its fastest pace in the last three years.
4 January 01:05 PM Pandemic sends Singapore’s economy to worst ever recession in 2020
Singapore’s economy contracted by less than expected in 2020 as activity levelled up further in the fourth quarter (Q4) following the easing of COVID-related restrictions.
This reduction will be reflected in the shareholders' portfolio accounts
31 December 2020 11:47 AM ADX announces 50% capital cut for Gulf Cement in CSD department
Mubasher: The Abu Dhabi Securities Exchange (ADX) has announced a 50% capital cut for Gulf Cement Co. in the Clearing, Settlement, Depository, and Registry Services Department (CSD). This reduction will be reflected in the shareholders' portfolio …
The agreement will generate KWD 10.224m net profits
31 December 2020 10:48 AM IFA reschedules KWD 20m debt over five years
Mubasher: International Financial Advisors (IFA) has reached an agreement with a foreign bank, under which a related company has replaced the bank in the company's debt worth KWD 20.06 million ($65.5 million). The company has agreed with the new …
The transaction will generate expected profits of KWD 107,555
30 December 2020 03:58 PM Al Madina for Finance's unit sells stake in Tatweer Capital for KWD 2m
Mubasher: A wholly-owned subsidiary of Al Madina for Finance and Investment has sold a 7% stake in 55%-owned Tatweer Capital Real Estate Company in exchange for KWD 1.98 million ($6.5 million). The transaction will generate expected profits of …
The GCC governments have issued $47.5 billion bonds
30 December 2020 03:19 PM GCC records $142bn bond, Sukuk issuances in 11M
Mubasher: The total value of issuances in the GCC region reached about $142 billion year-to-date (YTD)-November-2020, almost in line with last year's levels. The full-year 2020 issuances are forecast to marginally exceed last year's …