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13 January 01:40 PM Forbes Middle East’s most-funded startups secure $3bn in funding
Mubasher: The 50-most funded startups in MENA have raised a total of around $3 billion in funding, with the top 10 startups securing $1.9 billion combined, as shown by the annual list of Forbes Middle East. Forbes Middle East's list has …
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13 January 11:32 AM GCC banks' asset quality expected to see slight decline in 2022
Mubasher: GCC banks' asset quality indicators are expected to record a slight decline in 2022 because of regulatory forbearance measures that have enabled the corporate sector to tackle the coronavirus (COVID-19) repercussions, S&P Global Ratings …
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27 December 2021 07:01 PM Egypt endorses international cooperation through several committee, ministerial meetings
Cairo – Mubasher: Egypt’s Ministry of International Cooperation held joint committee meetings as well as tripartite meetings during 2021 to boost bilateral relations and cooperation across different sectors with several countries. The joint …
Founder and Executive Chairman of Ivanhoe Mines, Robert Friedland
27 December 2021 04:55 PM Saudi Arabia's mineral potential seen enormous – Ivanhoe Mines’ Friedland
Mubasher: Saudi Arabia's mineral potential is considered enormous, due to the recent positive change in government policy, Founder and Executive Chairman of Ivanhoe Mines, Robert Friedland, remarked in a recent press release. Friedland said: “[I] …
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21 December 2021 09:40 AM National Industries' EGM approves capital increase to KWD 300m
Mubasher: The extraordinary general meeting (EGM) of National Industries Group Holding, listed on the Dubai Financial Market (DFM) and Boursa Kuwait, has approved an increase in the authorised, issued, and paid-up capital to KWD 300 million from …
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13 December 2021 10:44 AM UAE dominates Forbes Middle East's top real estate, construction companies in MENA
Mubasher: The UAE-based real estate companies have accounted for more than a third of Forbes Middle East's "Top 50 Real Estate Developers In MENA 2021" list with 17 companies. The list was based on financials, reputation, company’s age, the value …
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7 December 2021 06:03 PM Gulf banks' outlook seen stable amid regional economic recovery, higher oil prices
Mubasher: Moody's Investors Service expected the outlook for GCC banks to be stable over the coming 12 to 18 months, backed by economic recovery in the region as well as higher oil prices, according to a report on Tuesday. The Gulf lenders’ credit …
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1 December 2021 01:03 PM Saudi Arabia's 1st Future Minerals Forum to kick off next month
Riyadh – Mubasher: Saudi Arabia will debut its first-ever Future Minerals Forum during 11-13 January 2022 in the capital Riyadh, the Ministry of Industry and Mineral Resources announced on Wednesday. A ministerial roundtable before the forum will …
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30 November 2021 03:10 PM No cases of Omicron variant detected in Egypt – Official
Cairo – Mubasher: Egypt has not registered any cases of the Omicron variant until the current times, Acting Minister of Health, Khaled Abdel Ghaffar, who is the Minister of Higher Education and Scientific Research, stated on Tuesday. Abdel Ghaffar …
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28 November 2021 02:17 PM Kuwait’s C.bank, CMA initiate campaign on crypto assets
Mubasher: The Central Bank of Kuwait (CBK) has collaborated with the Capital Markets Authority (CMA) to launch a joint financial literacy campaign on investing or dealing in crypto assets in the state, according to a press release on Sunday. …
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23 November 2021 04:45 PM Saudi consumers plan more spending amid optimism over vaccine rollout – Report
Mubasher: Saudi Arabia’s consumers have been increasing their spending over the past months more than the global average, while 20% of Saudis intend to spend more on an ongoing basis post-pandemic, a report by AlixPartners unveiled on Tuesday. The …
ADIA has ranked fourth among the world's top largest sovereign wealth funds
2 November 2021 01:07 PM ADIA ranks fourth among world's largest sovereign wealth funds
UAE - Mubasher: Abu Dhabi Investment Authority (ADIA) has ranked fourth among the world's top 100 largest sovereign wealth funds in terms of total assets, with $649.175 billion assets, according to SWF Institute. Norway Government Pension Fund …
The updated ratings reflect the group’s sound liquidity
7 October 2021 08:43 AM CI upgrades GFH's corporate ratings; outlook stable
Dubai – Mubasher: Capital Intelligence Ratings has upgraded the long-term and short-term corporate ratings of GFH Financial Group at 'BB-' and 'B', respectively, with a stable outlook. The updated ratings reflect the group’s sound liquidity, …
The segment brings the total length of the 2Africa cable system to over 45,000 km
28 September 2021 03:47 PM 2Africa consortium extends subsea cable system to Arabian Gulf, India, Pakistan
Mubasher: The 2Africa consortium, comprised of China Mobile International, Facebook, MTN GlobalConnect, Orange, Saudi Telecom Company (stc), Telecom Egypt, Vodafone, and WIOCC, announced that a new segment has been added to the 2Africa subsea …
Rania El-Mashat in a meeting with Marwan Al Ghanim
27 September 2021 05:49 PM Egypt's ongoing cooperation portfolio with KFAED amounts to $1.5bn
Cairo – Mubasher: Egypt's Minister of International Cooperation, Rania El-Mashat, met with the Director General of the Kuwait Fund for Arab Economic Development (KFAED), Marwan Al Ghanim, to explore the possible means of enhancing mutual …
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20 September 2021 11:29 AM Saudi Arabia continues to be China’s top oil supplier in August
Riyadh – Mubasher: Saudi Arabia has retained its position as China's top crude oil supplier for the ninth month in a row during August, Reuters cited official data by China’s General Administration of Customs on Monday. Saudi oil exports to China …
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16 September 2021 04:56 PM Saudi oil exports hit six-month high in July
Riyadh – Mubasher: Saudi Arabia’s oil exports increased to 7.65 million barrels per day (bpd) in July, hitting the highest level in six months since recording 7.75 million bpd in January, according to official data on Thursday. The exports volume …
Nihal El-Chami, Head of Programme and Marketing at Falak Startups
14 September 2021 00:49 PM Startup Lounge: More VC investors now interested in Africa, Middle East – Nihal El-Chami
By: Marina Gamil Cairo – Mubasher: With the growing number of startups across different sectors, especially financial technology (FinTech), the dynamics of the venture capital (VC) landscape in Egypt have been changing with local and international …
ITFC approved for its member countries more than $58 billion since 2008
8 September 2021 05:45 PM ITFC supports members with $605m under COVID-19 Response Program
Mubasher: The International Islamic Trade Finance Corporation (ITFC) has provided the member countries with $605 million as financial support under its COVID-19 Response Program, CEO of ITFC, Hani Sonbol, announced. The corporation aimed to help …
The Kuwaiti airline will operate two daily flights between Kuwait and Cairo
5 September 2021 04:23 PM Kuwait Airways resumes commercial flights to Cairo after one-year halt
Mubasher: Kuwait Airways has launched its first commercial flight to Egypt's Cairo on Sunday after about a one-year suspension.  The Kuwaiti airline will operate two daily flights between Kuwait and Cairo starting from 5 September, according to a …
The Egyptian payment portal myFawry has led Forbes Middle East list
31 August 2021 10:58 AM Forbes Middle East releases region's top Fintech apps for 2021
Mubasher: Forbes Middle East has announced the region's 15 top Fintech apps 2021, with 9.5 million downloads and $6.9 billion worth of transactions in 2020. The Egyptian payment portal myFawry has been placed in the first position in the list with …
There was a decline in the capital investment to $12.4 billion
26 August 2021 02:24 PM FDI projects in region decline 7%, capital investment shrinks 17% in H1-21
Mubasher: The number of foreign direct investment (FDI) projects in the Arab countries has decreased by 6.9% to 285 during the first half (H1) of 2021, according to a report by The Arab Investment & Export Credit Guarantee Corporation (Dhaman) on …
Saudi Arabia set Arab Light OSP to Northwest Europe at a discount of $1.70/barrel
4 August 2021 03:14 PM Aramco raises September crude official selling prices for Asia
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has increased the September official selling prices (OSPs) for its Arab light crude to $3 per barrel above the Oman/Dubai average for Asia, Reuters reported on Wednesday. The Kingdom has …
The CBK focused on employee development
27 July 2021 05:01 PM C. bank’s FY20/21 has undoubtedly been an exceptional year – Al Hashel
Mubasher: The fiscal year (FY) 2020/2021 has undoubtedly been an exceptional year for the Central Bank of Kuwait (CBK), as the COVID-19 pandemic was a true test to the robust monetary and regulatory policies the CBK worked to implement over the …
The debt instruments carry a three-month maturity
26 July 2021 02:38 PM CBK offers debt instruments worth SAR 200m
Mubasher: The Central Bank of Kuwait (CBK) has issued bonds and related Tawarruq at a total value of KWD 200 million, according to a press release on Monday. The debt instruments carry a three-month maturity, with a 1.125% rate of return. Last …