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Committed gas investments will likely plunge by $9.5 billion
4 May 02:39 PM MENA energy investments likely to surpass $805bn by 2025
Mubasher: Total planned and committed investments in MENA’s energy sector are expected to exceed $805 billion over the coming five years, the Arab Petroleum Investments Corporation (APICORP) said. This will mark an increase of $13 billion from the …
Middle East Energy Dubai will kick off on 17 May
3 May 03:10 PM Middle East seen as market leader in renewable, clean energy
Mubasher: The MENA region is projected to see 83 GW of renewable and clean energy capacity, mainly from solar and wind power, by 2035, according to a research from Informa Markets. In addition, over AED 55 billion worth of solar power projects …
The MEA region had the lowest number of corporate debt defaults in 2020
3 May 02:51 PM EM corporate debt likely to remain resilient in 2021 – Report
Mubasher: Companies in the Middle East and Africa (MEA) region recorded the least number of debt defaults in 2020 amid the coronavirus (COVID-19) pandemic. Despite the challenges posed by the pandemic, investment experts at Aberdeen Standard …
Plastic waste often impact marine life, ecosystems, and food chains
30 April 03:46 PM Egypt could soon ban single-use plastics amid COVID-19
By: Moslem Ali Cairo – Mubasher: Plastic bags that are often used for an average of 25 minutes could take more than 20 years to decompose, while other single-use plastic products, according to the World Wildlife Fund (WWF), might need between 400 …
Noor Sweid, Founder and General Partner, Global Ventures
29 April 12:57 PM Startup Lounge: Health, edutech investments to flourish after pandemic – Noor Sweid
By: Ingy ElSafy Mubasher: The Middle East carries plenty of appeal for regional and international investors due to the favourable macroeconomic fundamentals that underpin these markets. Meanwhile, the sectors that have witnessed increased …
Egypt's Minister of International Cooperation, Rania El-Mashat
26 April 01:41 PM Egypt to build greener more inclusive economy after COVID - Rania El-Mashat
By: Moslem Ali and Ahmed Allam Cairo – Mubasher: Egypt was the only country in the region to achieve positive economic growth last year, despite the coronavirus (COVID-19) pandemic. Now, the country aims at taking the recovery as a chance to …
The basic and diluted losses per share settled at KWD 2.86 last year
28 April 11:56 AM Ekttitab Holding records 101% higher losses in 2020
Mubasher: The net losses of Ekttitab Holding hiked by 101% to KWD 911,256 in 2020, compared to KWD 452,523 in 2019. Higher net losses are driven by provisions for expected credit losses, according to a bourse filing on Wednesday. The basic and …
The basic EPS settled at 0.07 fils in Q1-21
27 April 12:43 PM Al Mazaya Holding turns to profitability in Q1-21
Mubasher: Al Mazaya Holding has reported KWD 41,649 net profits attributable to the shareholders of the parent company during the first quarter (Q1) of 2021, against net losses of KWD 3.46 million in the year-ago period, according to the company's …
Agility will become the second largest shareholder in DSV
27 April 11:32 AM Agility to sell global integrated logistics to Danish firm for $4.1bn
Mubasher: The board of Agility Public Warehousing has approved to sign an agreement with Denmark-based DSV Panalpina to sell its global integrated logistics business for an equity value of $4.1 billion (KWD 1.2 billion). Under the agreement, DSV …
The capital will be reduced to KWD 62.956 million
26 April 11:12 AM Al Mazaya's EGM approves 8.5% capital cut
Mubasher: The extraordinary general meeting (EGM) of Al Mazaya Holding has approved to decrease the capital at a nominal value of treasury shares, amounting to KWD 5.872 million, by 8.53%. The capital will be reduced to KWD 62.956 million from …
UN in 2015 led its member states to adopt the 2030 Agenda for Sustainable Development
22 April 12:06 PM Are MENA countries on track with achieving SDGs?
By: Ingy ElSafy Mubasher: The United Nations (UN) led its member states in 2015 to adopt the 2030 Agenda with 17 Sustainable Development Goals (SDGs) that include 169 specific targets, covering social, economic, and environmental dimensions, in …
Roebuck acquired the property in May 2017
25 April 10:14 AM GFH's unit sells UK-based logistics centre for $123m
Mubasher: The UK-based Roebuck Asset Management, the subsidiary of GFH Financial Group, has completed an off-market sale of Accolade Park, a prime logistics centre in the UK, to Tritax Big Box REIT in exchange for $123 million.  Spanning over an …
The termination of the agreements will be effective from 23 May
22 April 11:26 AM GFH terminates market making, liquidity provider agreement with SICO
Mubasher: GFH Financial Group has announced the termination of the market making and Liquidity Provision agreements with SICO for GFH’s shares on Bahrain Bourse and Dubai Financial Market (DFM). The termination of the agreements will be effective …
The activities in oil-exporting coutries are expected to recover in 2021
15 April 01:33 PM IMF expects MENA real GDP to grow 4% in 2021
Mubasher: The International Monetary Fund (IMF) has upgraded its outlook for the real gross domestic product (GDP) growth in the MENA region to 4% in 2021, compared to its October projection of 3.2%. The real GDP growth of the GCC countries is …
The currency will not replace cash and bank deposits
19 April 03:47 PM UK mulls creating new digital currency
Mubasher: The UK Treasury and Bank of England (BoE) announced the creation of a joint taskforce to explore a potential central bank digital currency (CBDC). The currency “would be a new form of digital money issued by the Bank of England and for …
The investment will also support Malaysia's economy
19 April 03:06 PM Microsoft to invest $1bn in establishing data centre in Malaysia
UAE - Mubasher: Microsoft Corporation will allocate $1 billion in establishing data centres in Malaysia over the next five years, Reuters reported, citing the Malaysian Prime Minister. This investment is part of a new partnership programme with …
15 April 03:36 PM CNG car sales in India up on rising fuel prices
15 April 01:44 PM Eastern Europe’s construction industry likely to grow 3.6% in 2021
15 April 01:14 PM Dell to get up to $9.7bn following VMWare stake spinoff
Mubasher: Dell Technologies Inc plans to spin off its 81% equity ownership in cloud computing and virtualization software firm VMware.
Board says greater returns can be achieved from the current growth strategy
15 April 11:11 AM UAE's Tristar Transport to withdraw from planned IPO on DFM
Mubasher: The board and shareholders of the UAE-based Tristar Transport, a 65.12%-owned subsidiary of Agility Public Warehousing, have decided to withdraw from the planned initial public offerings (IPO) on the Dubai Financial Market (DFM). This …
The cash dividends stand at 10 fils per share
15 April 10:07 AM Agility's board proposes 10% dividends for 2020
Mubasher: The board of Agility Public Warehousing has recommended distributing cash dividends, equivalent to 10% of the share's nominal value for 2020. After deducting treasury shares, the cash dividends stand at 10 fils per share, according to a …
The company’s issued and paid-up capital will be increased by $25.61 million
14 April 11:12 AM EGX approves listing Egypt Kuwait Holding’s capital raise shares
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the listing of Egypt Kuwait Holding’s (EKH) capital raise shares. The company’s issued and paid-up capital will be increased by $25.61 million to $281.72 million from …
The company's income reached KWD 19.66 million in 2020
14 April 10:32 AM IFA turns to profitability in 2020
Mubasher: International Financial Advisors (IFA) has achieved KWD 8.229 million net profits attributable to the shareholders of the parent company in 2020, against net losses of KWD 18.4 million in 2019. The company's income reached KWD 19.66 …
Online shopping has become more of a long-term behavior change
13 April 03:18 PM Online shopping in KSA, UAE likely to grow during Ramadan – Report
Riyadh – Mubasher: A greater surge in online shopping is expected to be witnessed during the month of Ramadan, which has just started today on 13 April, a recent survey Checkout.com unveiled. Online spending by consumers in the UAE and Saudi …
Musanada has offered the lowest bids in a tender
12 April 01:34 PM CGC's unit in UAE offers lowest bid in KWD 16m tender
Mubasher: Abu Dhabi General Services (Musanada), a subsidiary of Combined Group Contracting (CGC), has offered the lowest bids in a tender for the infrastructure construction of Al Mirfa Industrial Area in Abu Dhabi, with a total value of …