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BisB will continue to be listed on Bahrain Bourse
4 hours ago NBB acquires 78.8% stake in Bahrain Islamic Bank
Mubasher: The National Bank of Bahrain (NBB) on Saturday announced that its offer to acquire up to 100% of the paid-up ordinary shares of the Bahrain Islamic Bank (BisB) resulted in the control of a 78.8% stake in the Islamic bank, according to …
Non-oil exports grew 14% YoY in H1-19
18 January 07:50 PM UAE’s non-oil exports to total AED 240bn in 2019
UAE – Mubasher: The value of the UAE’s non-oil exports is expected to reach AED 240 billion in 2019, undersecretary of the Emirati economic ministry for foreign trade, Abdulla Al Saleh stated on Saturday. The country’s non-oil exports grew 14% …
18 January 07:12 PM Toshiba’s CEO to add title of president in April 2020
​​​​​​​Mubasher: CEO of Japanese multinational conglomerate Toshiba Corporation is set to add the title of president in April 2020, Bloomberg reported on Saturday.
Kuwaiti economy is still dependent on oil returns
18 January 04:26 PM S&P affirms Kuwait's credit rating at ‘AA’; Outlook stable
Mubasher: Standard and Poor's (S&P) has affirmed Kuwait's credit rating at (AA) with a stable outlook, the Kuwait News Agency reported on Saturday. The rating agency said that the Kuwaiti economy is still dependent on oil returns, which accounts …
17 January 08:39 PM Commercial, military satellites market to record $195.11bn in 8 years
Mubasher: The global commercial and military satellite market is expected to record a CAGR of 76.6% to $195.11 billion in 2020- 2028.
KIPCO's headquarters
17 January 06:00 PM Moody's affirms KIPCO's ratings at Baa3; Outlook revised to negative
Mubasher: Moody's Investors Service has affirmed Kuwait Projects Holding’s (KIPCO) Baa3 long-term issuer rating and P-3 short-term issuer rating, according to a statement. The international rating agency affirmed the provisional (P)Baa3/(P)P-3 …
17 January 04:44 PM Volkswagen to acquire $560m stake in Chinese EV battery maker
Mubasher: Volkswagen is nearing the closure of a deal to acquire a 20% stake in China’s electric vehicle battery maker Guoxuan High-tech Company.
The Main Market index increased by 40.5 points
17 January 04:09 PM Boursa Kuwait’s indices go up in week; Market cap gains KWD 679m
Mubasher: The Boursa Kuwait’s indices rose during the third week of January, with market capitalisation gained KWD 679 million. The All-Share Market index went up by 121 points, or 1.94%, to 6,351.2 points, while the Premier Market index added 160 …
16 January 09:18 PM Tesla considers building design & research centre in China
​​​​​​​Mubasher: Tesla is reportedly planning to open a design and research centre in China to make ‘Chinese-style’ vehicles, according to Reuters.
16 January 05:54 PM Package holiday market seen at $632bn by 2023 despite challenges
Mubasher: The global package holiday market has been experiencing several uncertainties since the collapse of the UK’s travel operator, Thomas Cook.
16 January 05:50 PM Isuzu partners with Honda for hydrogen fuel-cell technology
Mubasher: Isuzu and Honda have penned an agreement to conduct a joint research and development (R&D) on hydrogen fuel-cell powered heavy-duty trucks, according to GlobalData.
Participants stressed the crucial role of government support to achieve gender quality
16 January 05:13 PM WiSER forum highlights digitalisation’s role in women empowerment
Abu Dhabi – Mubasher: The global leading renewable energy company Masdar held its fifth annual Women in Sustainability, Environment and Renewable Energy (WiSER) Forum on Tuesday, January 14 at Abu Dhabi Sustainability Week (ADSW) 2020. During an …
16 January 04:31 PM US’ Southwest Airlines extends cancellation of Boeing 737 MAX flights
Mubasher: US-headquartered Southwest Airlines has announced that it will extend cancellations of Boeing 737 MAX flights until 6 June 2020, Reuters reported on Thursday.
Automated Systems came on top of the red zone with 10%
16 January 02:57 PM Boursa Kuwait closes Thursday on collective decline
Mubasher: The indices of Boursa Kuwait collectively retreated by the end of Thursday’s trading session, as the All-Share, Premier, and Main indices declined by 0.01% each. Liquidity decreased by 34.5% to KWD 35.17 million from KWD 53.69 million on …
Headquarters of Kuwait Fire Service Directorate
16 January 11:56 AM KGL’s unit offers lowest bids in KWD 7.9m tender
Mubasher: Kuwait and Gulf Link Transport (KGL) announced that one of its subsidiaries has offered the lowest bids for a tender valued at KWD 7.894 million ($26.08 million) by Kuwait Fire Service Directorate. The expected return of the tender, …
The reclassification will have no relation to GFH’s performance
16 January 10:27 AM GFH’s shares on Boursa Kuwait reclassified to main market
Dubai – Mubasher: GFH Financial Group announced that Boursa Kuwait has reclassified the segment of GFH’s shares on it from the premier market to the main market. The reclassification coincides with the bourse’s recent market segmentation plans …
The Sukuk issuance will have a tenor of five years
16 January 09:29 AM GFH confirms Reuters news on $500m Sukuk issue
Dubai – Mubasher: GFH Financial Group on Thursday confirmed to its shareholders the news published by Reuters on 13 January 2020. GFH clarified that it plans to issue five-year-tenor Sukuk. The issuance builds on the shareholders’ resolution, …
15 January 10:45 PM US, China seal deal to ease trade tensions
Mubasher: President Donald Trump on Wednesday signed a trade agreement with China which puts an end to the trade war between the two major economies.
15 January 07:31 PM General Motors to move 1,350 temporary workers to full-time jobs
Mubasher: General Motors announced plans to move over 1,350 hourly employees in the US to 1,350 hourly employees at its assembly plants in Q1-20.
Iron prices have dropped by EGP 300 per tonne since the beginning of the week
15 January 03:28 PM Iron prices to further decline as EGP levels up
By: Abdullah Bedeir Cairo – Mubasher: Iron prices are expected to further decline in the coming period, Ahmed El-Zeiny, the head of chamber of building materials at the Federation of Egyptian Chambers of Commerce (FEDCOC) told Mubasher. With the …
Kuwait Real Estate Holding (Al Aqaria) was the top riser
15 January 03:23 PM Boursa Kuwait’s indices end Wednesday mixed
Mubasher: The indices of Boursa Kuwait closed Wednesday’s trading session on a mixed board, as the All-Share index and Premier markets rose by 0.29% and 0.4%, respectively, while the Main Market index declined by 0.05%. Liquidity decreased by …
15 January 02:59 PM Amazon orders 40 EVs for deliveries in Germany
Amazon.com has ordered 40 electric vans from Germany’s StreetScooter for deliveries in Munich, Reuters reported.
15 January 02:34 PM Prologic First rolls out 1st comprehensive hospitality cloud solution  
Mubasher: The leading technology solutions provider for the hospitality industry Prologic First has launched the first comprehensive hospitality cloud solution for hotel management.
The shipment reflects the success of KNPC’s international marketing sector
15 January 02:07 PM KNPC exports first low-sulfur diesel shipment
Mubasher: Kuwait National Petroleum Company (KNPC) announced that the first shipment of low-sulfur diesel (ULSD 10ppm) has been exported through Mina Abdullah refinery to global markets after fulfilling al requirements. The exported 40,000-tonne …
15 January 01:45 PM Volvo Cars, China Unicom join forces on 5G technology
Volvo Cars and telecom provider China Unicom have partnered on using fifth-generation (5G) mobile network technology for communication between cars and infrastructure.