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The Late Sheikh Sabah Al Ahmad Al Jaber Al Sabah
29 September 07:44 PM Emir of Kuwait passes away aged 91 years
Mubasher: The Emir of Kuwait, Sheikh Sabah Al Ahmad Al Jaber Al Sabah has passed away on Tuesday, at 91 years of age. The late Emir has ruled Kuwait since 2006, before that he was the Minister of Foreign Affairs for around four decades. "With …
29 September 05:02 PM Nokia reaches 5G equipment deal with BT
Nokia has inked a 5G deal with BT to become BT’s largest equipment provider, extending its long-term strategic partnership with Britain's biggest telecoms group.
29 September 04:21 PM Walmart eyes $20-25bn investment in Tata’s super app
Mubasher: Walmart Inc is in negotiations with Tata Group over an investment of $20-25 billion in the Indian conglomerate’s proposed super app.
29 September 03:47 PM Musk intends IPO for SpaceX's Starlink business in several years
Elon Musk intends to list Starlink, SpaceX’s space internet venture, several years in the future when revenue growth is smooth and predictable.
The agreement’s financiers include Al Rajhi Bank and Arab National Bank (ANB).
29 September 09:30 AM Zain KSA signs deal to reschedule SAR 3.85bn Murabaha facility
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) signed an agreement to reschedule its existing five-year syndicated Murabaha facility valued at SAR 3.85 billion maturing on 30 September 2020 (originally SAR 5.9 billion, …
CMA has nodded to Al Bareeq Holding's listing on DFM
27 September 04:37 PM CMA approves Al Bareeq Holding's listing on DFM
Mubasher: Kuwait's Capital Market Authority (CMA) has nodded to Al Bareeq Holding's request to be listed on the Dubai Financial Market (DFM). The company should be committed to the regulations of securities activities and their amendments, …
A total of 40 tonnes of high-grade blue ammonia were dispatched to Japan
27 September 02:15 PM Saudi Aramco, Japan’s IEEJ ship world’s first blue ammonia
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) and Japan’s Institute of Energy Economics(IEEJ), in partnership with the Saudi Basic Industries Corporation (SABIC), demonstrated the production and shipment of blue ammonia from …
The company has not mentioned the reasons for the resignation
27 September 10:33 AM Kuwait Holding, Masader Al Ofoq resign from IFA's board
Mubasher: International Financial Advisors (IFA) has announced the resignation of Kuwait Holding Company and Masader Al Ofoq General Trading and Contracting Company from the company's board membership. The company has not mentioned the reasons for …
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27 September 10:27 AM Global Artificial Intelligence Summit to kick off next October
Riyadh – Mubasher: The Saudi Data and Artificial Intelligence Authority (SDAIA) will organise the Global Artificial Intelligence Summit (GAIS) on 21-22 October 2020, state-run Saudi Press Agency (SPA) reported on Sunday. Under the theme, “AI FOR …
The bank signed a SWAP agreement worth BHD 46.4m with GFH
24 September 02:16 PM Khaleeji Commercial Bank's OGM nods to agreements with GFH
Mubasher: The ordinary general meeting (OGM) of Khaleeji Commercial Bank has approved the agreements signed with GFH Financial Group, according to the bank's disclosure to Bahrain Bourse on Thursday. The bank signed a SWAP agreement worth BHD 46.4 …
The offer values AUB Egypt at EGP 29.78 per share
21 September 06:12 PM Egypt's FRA approves AUB Egypt acquisition offer
Cairo – Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the purchase offer submitted by Ahli United Bank – Bahrain (AUB Bahrain) and Misr Strategia Investment (MSI) to acquire Ahli United Bank - Egypt (AUB Egypt). AUB Bahrain …
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21 September 04:25 PM Saudi Arabia offers $48bn to support developmental projects worldwide
Riyadh – Mubasher: Saudi Arabia has provided around $48 billion in assistance to developmental projects around the world as part of financial contributions to international organisations and authorities. The kingdom granted $32.12 billion in aids …
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21 September 11:18 AM CPhI Middle East & Africa to kick off in Riyadh next year
Riyadh - Mubasher: This year’s edition of the leading regional pharmaceutical event CPhI Middle East & Africa will be held alongside the Global Health Exhibition (GHE) in Riyadh between 26 and 28 September 2021. Under the patronage of the Saudi …
The former Chairman caused severe damage to the company
21 September 10:25 AM Investors Holding Group sues former Chairman of Egyptian unit
Mubasher: Investors Holding Group has filed a lawsuit against the former Chairman of its subsidiary Grand Real Estate Projects – Egypt, Ahmed Abdel Fattah Bayoumi Badr. The Kuwaiti firm said that the former Chairman violated his duties and caused …
Saudi imports from Arab countries tumbled by 17.65% yearly in H1-20
17 September 02:56 PM Saudi trade surplus with Arab states nears $6bn in H1
Riyadh – Mubasher: Saudi Arabia registered a trade surplus with Arab countries worth SAR 22.47 billion ($5.99 billion) in the first half (H1) of 2020, a yearly decrease of 37.5% when compared to SAR 35.93 billion ($9.58 billion) in the year-ago …
The company will pay KWD 6m as a settlement for the entire value of the loan
17 September 09:40 AM IFA agrees on settling KWD 25m loan
Mubasher: International Financial Advisors (IFA) has reached an agreement with a bank to settle a loan valued at KWD 24.98 million ($81.9 million), excluding the interest rate due on 30 May 2019. The company, listed on Boursa Kuwait and the Dubai …
One of the agreements was reached with the Arab Monetary Fund
15 September 04:10 PM Egypt inks $885m agreements with Arab funds in 8M
Cairo - Mubasher: The Egyptian Ministry of International Cooperation has penned three agreements worth around $885 million with Arab funds during the January-August period, the Minister of International Cooperation, Rania Al-Mashat, announced on …
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15 September 03:47 PM Fitch affirms KIB’s long-term A+ rating, with stable outlook
Mubasher: Fitch Ratings has affirmed Kuwait International Bank’s (KIB) long-term issuer default rating (IDR) at 'A+' and viability rating (VR) at “bb-”, with a stable outlook. KIB is exposed to slower domestic economic growth due to the …
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15 September 02:04 PM Egypt's FRA studies offer to acquire AUB Egypt
Cairo – Mubasher: Egypt’s Financial Regulatory Authority (FRA) said an optional purchase offer draft was submitted by Ahli United Bank – Bahrain (AUB Bahrain) and an Egyptian investment firm to invest on the shares of Ahli United Bank - Egypt (AUB …
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15 September 01:27 PM Saudi ranks third in MENA by startup deals, funding – MAGNiTT
Riyadh – Mubasher: Various economic sectors in Saudi Arabia generate growing interest in startups in implementation of the Kingdom’s Vision 2030, boosting the GCC nation to take the third spot in terms of the number of deals and total …
The loan is guaranteed by a promissory note
14 September 10:33 AM MIS extends, amends SAR 84.6m loan with NBK
Riyadh – Mubasher: Al Moammar Information Systems (MIS) Company has amended and extended a Sharia-compliant credit facility agreement with the National Bank of Kuwait (NBK) to finance projects and issue letters of guarantee. The loan is valued at …
The last day for the trading of the company's shares will be on 14 December
13 September 04:51 PM CMA agrees on Gulf Cement's withdrawal from Boursa Kuwait
Mubasher: Gulf Cement Co., dually listed on Boursa Kuwait and the Abu Dhabi Securities Exchange (ADX), has obtained approval from the Capital Markets Authority (CMA) in Kuwait to withdraw from Boursa Kuwait. The last day for the trading of the …
The new projects are added to the programme's inaugural cohort of 25
13 September 10:12 AM Expo 2020 reveals 20 new projects in Global Best Practice Programme
UAE - Mubasher: Expo 2020 Dubai has selected 20 new innovative projects under the second stream of projects of the Global Best Practice Programme, according to a recent press release. The new projects are added to the programme's inaugural cohort …
Boursa Kuwait
7 September 01:04 PM Boursa Kuwait shares to begin trading on Premier Market next week
Mubasher: The shares of Boursa Kuwait Company will commence trading on the Premier Market as of Monday, 14 September 2020, according to an official statement on Monday. This comes following the approval of the Kuwaiti Capital Markets Authority …
10 September 04:50 PM Amazon may acquire $20bn stake in India’s Reliance Retail
Mubasher: India’s Reliance Industries Ltd is looking to offer to sell about $20 billion stake in its retail business to Amazon, Bloomberg reported.