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28 May 11:54 AM e&, Bespin Global boost cloud services in MEA via new JV
Mubasher: e& and Bespin Global concluded the establishment of a joint venture (JV) that aimed to secure public cloud-managed and professional services across the Middle East, Turkey, Africa, and Pakistan (METAP). The ADX-listed company holds a 65% …
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25 May 06:49 PM EFG Hermes concludes rebranding; foundation name changed
Cairo – Mubasher: Egyptian Financial Group Hermes Holding (EFG Hermes Holding) has successfully rebranded to EFG Holding to ensure the brand evolves in line with the group’s expansion across three verticals: EFG Hermes the investment bank, EFG …
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25 May 05:20 PM AAN Digital delists from UAE stock exchange
Mubasher: The Kuwaiti AAN Digital Services Holding Company announced the delisting of its shares from Dubai Financial Market (DFM) upon the Kuwaiti Capital Markets Authority (CMA) resolution to delist from Boursa Kuwait. Delisting AAN Digital’s …
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11 May 05:23 PM GFH’s profits to owners jump 25.5% in Q1-23
Mubasher: The net profits attributable to shareholders of GFH Financial Group were valued at $24.01 million in the first quarter (Q1) of 2023, up 25.60% from $19.12 million in Q1-22. The higher net profits were backed by growth across the group’s …
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11 May 03:59 PM e&, Vodafone team up to boost services across Europe, MEA
Abu Dhabi – Mubasher: e&, formerly known as Etisalat Group, has entered into a strategic agreement with Vodafone Group to join forces in certain key areas of their businesses across Europe as well as the Middle East and Africa (MEA) region. The …
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7 May 03:17 PM Jazeera Airways endorses regional footprint with new route to Egypt
Mubasher: Kuwait-listed Jazeera Airways will commence operating direct flights to the Sphinx International Airport in Egypt on 16 May 2023. With the new route, the airline currently flies direct flights to seven cities in Egypt. This brings the …
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4 May 02:01 PM Ooredoo sees 43% higher profits to shareholders in Q1-23
Mubasher: National Mobile Telecommunications Company (Ooredoo) posted net profits attributable to the owners valued at QAR 961 million in the first quarter (Q1) of 2023, an annual hike of 43% from QAR 671 million. The firm generated revenues worth …
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26 April 10:32 AM EIC announces SAR 79m deal with Kuwaiti government
Riyadh – Mubasher: Saudi Transformers Company, a subsidiary of Electrical Industries Company (EIC), won a SAR 79 million project contract on 20 April, according to a bourse disclosure. The deal covers the provision of distribution transformers for …
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16 April 05:58 PM ADIB becomes 1st Islamic bank to go live on KYC Blockchain Platform
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has become the first Islamic bank that went live on the UAE’s KYC (Know Your Customer) Blockchain Platform. Through the platform, which is a national ecosystem for the exchange of verified KYC …
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12 April 12:08 PM RAK White Cement announces new Chairman, Vice Chairman
Abu Dhabi – Mubasher: Ras Al Khaimah Company for White Cement and Construction Materials (RAK White Cement) appointed Himanshu Kapania as the new Chairman of the board. The firm also named Mohammed Abdullatif Khalifa Al Shehhi as the Vice …
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11 April 02:14 PM Jarir launches new showroom in Kuwait at SAR 25m investment
Riyadh – Mubasher: Jarir Marketing Company (Jarir Bookstores) inaugurated a new showroom in Kuwait at a total investment of SAR 25 million, according to a bourse disclosure. Located in the Avenues Mall in the Al Rai area, the showroom spans 1,394 …
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2 April 12:59 PM Amanat Holdings launches platform to boost healthcare in GCC
Dubai – Mubasher: Amanat Holdings has launched its new healthcare platform called Amanat Healthcare, according to a recent press release. The new entity runs its business across the UAE, Saudi Arabia, and Bahrain, holding an expected total …
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29 March 12:57 PM AD Ports to distribute Celularity’s products across GCC
Abu Dhabi – Mubasher: Nasdaq-listed biotechnology firm Celularity has entered into an exclusive distribution agreement with AD Ports Logistics (ADPL), a subsidiary of AD Ports Group's Logistics Cluster, according to a press release. The UAE group …
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27 March 01:24 PM GFH to pay 6% cash dividends for 2022
Mubasher: The annual general meeting (AGM) of GFH Financial Group (GFH) agreed to distribute a cash dividend of $0.01 (AED 0.05) per share for 2022, excluding treasury shares. Meanwhile, the dividends account for 6% of the share nominal value, …
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21 March 01:13 PM Egypt Kuwait Holding hikes stake in BKH to nearly 85%
Cairo – Mubasher: Egypt Kuwait Holding raised its equity ownership in Bawabet Al Kuwait Holding Company (BKH) by 13.12%, making the total shareholding in the closed Kuwaiti firm reach 84.79%. The EGX-listed company purchased the additional stake …
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15 March 03:27 PM Hassan Allam Utilities joins Kuwait’s Agility for world-class logistics parks in Egypt
Cairo – Mubasher: Hassan Allam Utilities has teamed up with the Kuwaiti Agility Public Warehousing Company to form Yanmu as a joint venture (JV) that will allow the development, construction, and operation of modern logistics parks and Grade A …
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15 March 12:41 PM Kuwait’s Jazeera Airways unveils plans for Saudi aviation sector
Mubasher: Kuwait-based airline Jazeera Airways announced the potential establishment of a low-cost airline in Saudi Arabia. The new entity will be founded along with Saudi partners and will be based at the King Fahad International Airport in …
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6 March 06:14 PM ADQ partners with IHC to establish MENA’s biggest independent investment manager
Abu Dhabi – Mubasher: Investment and holding company ADQ has teamed up with International Holding Company to create the largest multi-asset class investment manager in the MENA region. The investment manager, which will be headquartered in Abu …
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13 February 10:28 AM GFH records higher profits to equityholders in 2022; dividends proposed
Mubasher: GFH Financial Group achieved net profits attributable to the shareholders worth $90.25 million in 2022, an annual growth of 7.20% from $84.22 million. Total income jumped by 10.80% to $441.67 million during the January-December 2022 …
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5 February 11:06 AM RAK White Cement’s profits fall in 2022 initial financials
Abu Dhabi – Mubasher: Ras Al Khaimah Company for White Cement and Construction Materials (RAK White Cement) recorded net profits of AED 21.08 million in 2022, down from AED 32.87 million a year earlier. The UAE-based firm witnessed an annual …
Head of Debt at SHUAA Capital, Natasha Hannoun
24 January 04:36 PM Venture debt funding in MENA surpasses $260m in 2022 – Report
Mubasher: Venture debt investments in the MENA region have exceeded $260 million through 18 financing deals during 2022, according to a report by Shuaa Capital and MAGNiTT. The report indicated that the high value came despite a backdrop of …
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16 January 05:57 PM Al Seer Marine unveils world’s largest maritime 3D printer
Abu Dhabi - Mubasher: Al Seer Marine, a subsidiary of the International Holding Company (IHC), has announced MEGA II to be the biggest maritime 3D printer in the world, according to a press release. The giant 3D printer will offer several …
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15 January 05:57 PM GFH’s Infracorp rolls out 1st co-investment in EU infrastructure sector
Mubasher: Infracorp, a sustainable infrastructure platform launched by GFH Financial Group, has teamed up with UK-based Equitix to invest in Aurora Infrastructure Oy, a Finnish electricity network. Through the partnership, Infracorp plans to …
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9 January 06:17 PM Ooredoo names Al Thani as new CEO in Qatar
Mubasher: National Mobile Telecommunications Company (Ooredoo) has appointed Ali bin Jabor Al Thani as the new CEO of Ooredoo Qatar, according to a press release. Before his new role, Al Thani served as the Chief Legal, Regulatory, and Governance …
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9 January 05:59 PM Agility secures new facility deal worth KWD 50m
Mubasher: Agility Public Warehousing, listed on Dubai Financial Market (DFM) as well, has signed a new credit facility agreement with a local bank at a value of KWD 50 million. Meanwhile, the company has secured nearly $3 billion (KWD 915 million) …