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BHM Capital will enhance the liquidity of securities issued by NIH
10:04 AM National International Holding appoints BHM Capital as liquidity provider
Dubai – Mubasher: Kuwait-based National International Holding Company (NIH) has appointed BHM Capital as a liquidity provider for its shares traded on the Dubai Financial Market (DFM). As a liquidity provider, BHM Capital will enhance the …
The number of shares traded in EGP represents 68.4% of total shares
16 September 11:56 AM Egypt Kuwait Holding starts trading on EGP-denominated shares on Sunday
Cairo – Mubasher: Egypt Kuwait Holding (EKH) announced that trading on the company’s shares in the Egyptian pound for shareholders who converted the trading currency will come into effect on Sunday, 19 September. The number of shares traded in EGP …
14 September 10:03 AM AXA Med completes sale of stake in AXA GCIC to Gulf Insurance
Mubasher: AXA Mediterranean Holding (AXA Med) has completed the sale of its 28.05% stake in AXA Green Crescent Insurance Company (AXA GCIC) to Gulf Insurance Group (GIG). In early September, GIG has completed the acquisition of AXA’s operations in …
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13 September 04:54 PM NBK issues $1bn Senior Unsecured notes; first of kind across CEEMEA
Mubasher: The National Bank of Kuwait (NBK) has issued bonds worth $1 billion, marking the first callable structure for senior unsecured notes, fixed to floating, across the Central and Eastern Europe Middle East and Africa (CEEMEA) region. Final …
The facility will enable Aramex to expand its e-commerce fulfillment business
12 September 03:02 PM Aramex selects Agility Logistics Park for largest logistics warehouse in Kuwait
Dubai – Mubasher: Aramex has selected the Agility Logistics Park (ALP) in Sulaibiya as the location for its new 16,000 square metre e-fulfilment centre, the largest logistics warehouse in Kuwait. Aramex’s new warehouse facility is located in …
The acquired multifamily residential sites are located close to Las Vegas suburban areas
8 September 12:49 PM GFH acquires $200m multifamily residential sites in US
Mubasher: GFH Financial Group has inked a real estate deal with the US-based real estate specialist Carroll to acquire two multifamily residential sites in Las Vegas in exchange for $200 million. The company's investment in residential assets is …
The transaction included AXA Gulf and AXA Cooperative Insurance
7 September 11:52 AM Gulf Insurance completes acquisition of AXA in Gulf
Mubasher: Gulf Insurance Group (GIG) has completed the acquisition of AXA’s operations in the Gulf region in exchange for $474.75 million after obtaining the necessary regulatory approvals. The transaction included AXA Gulf and AXA Cooperative …
This step was made after Coast Investment had cancelled its treasury shares
5 September 03:37 PM National International Holding raises ownership in Coast Investment
Mubasher: National International Holding Company has raised its ownership in the associate company, Coast Investment and Development Company, to 31.65% from 29.59%. This step was made after Coast Investment had canceled its treasury shares, …
The pre-funding has been completed by several investors
30 August 01:06 PM Swvl completes PIPE's $35.5m pre-funding to support growth strategy
UAE - Mubasher: Dubai-based Swvl Inc. has announced the completion of the $35.5 million pre-funding of the aggregate private investment in public equity (PIPE) subscription secured in connection with the company's proposed business combination …
The company raised its direct and indirect stake in Alexandria Fertilizers Co
24 August 04:06 PM Egypt Kuwait Holding reveals updates on $300m investment plan
Cairo – Mubasher: Egypt Kuwait Holding (EKH) revealed the latest updates of its previously-announced $300 million investment plan for 2021 and 2022. The firm, listed on the Egyptian Exchange (EGX) and Boursa Kuwait, plans to invest $80 million in …
The new company will have an issued capital of EGP 50 million
24 August 01:04 PM EKH gets FRA's approval to launch micro-finance firm
Cairo – Mubasher: Egypt Kuwait Holding (EKH) has recently received the Financial Regulatory Authority's (FRA) approval to establish a micro-finance company called Bedayti. The decision for setting up the company with an issued capital of EGP 50 …
The company requested the license as part of its objective to launch digital initiatives
24 August 12:58 PM Agility requests license to establish digital bank in Kuwait
Mubasher: Agility Public Warehousing has requested a license to establish the first digital bank in Kuwait, the company announced to clarify some news published in this regard. The company requested the license as part of its objective to launch …
The transaction would enhance the bank's financial position
22 August 11:12 AM KIB completes sale of exposure to NMC Healthcare
Mubasher: Kuwait International Bank (KIB) has completed the sale of its exposure to NMC Healthcare Company following the fulfillment of the relevant procedures. The KWD 3.98 million transaction would enhance the bank's financial position; however, …
Negotiations were extended until 23 September 2021
17 August 11:54 AM Ooredoo, CK Hutchison extend negotiation period to combine Indonesian businesses
Abu Dhabi - Mubasher: National Mobile Telecommunications Company (Ooredoo) and CK Hutchison Holdings Limited (CK Hutchison) have extended the period of exclusivity for the non-legally binding Memorandum of Understanding (MoU) for a possible …
The company plans to submit the firm intention in Q3-21
17 August 10:04 AM GFH submits letter of intent to KHCB for voluntary takeover offer
Dubai – Mubasher: GFH Financial Group has submitted a letter of intent to Khaleeji Commercial Bank's (KHCB) board for a voluntary takeover of the bank's issued shares. The company plans to submit the firm intention and offer documents during the …
Agility will acquire 19.3 million shares in DSV Panalpina
16 August 04:44 PM Agility concludes sale of GIL business to Danish firm for nearly $5bn
Mubasher: Agility Public Warehousing is expected to finalise the sale of its Global Integrated Logistics (GIL) business to Denmark’s DSV Panalpina on 16 August. The enterprise value of the transaction stands at $4.775 billion and the equity value …
Revenues increased annually by 13%
15 August 05:57 PM Agility records 216% jump in H1-21 profits
Mubasher: Agility Public Warehousing achieved net profits worth KWD 51.2 million ($170.1 million) in the first half (H1) of 2021, leaping by 215.9% when compared to H1-20. The Kuwaiti company, which is listed on the Dubai Financial Market (DFM), …
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15 August 03:45 PM Fujairah Cement Industries narrows losses in H1
Abu Dubai – Mubasher: Fujairah Cement Industries Company reported a decline in losses by 9% to AED 25.7 million in the first half (H1) of 2021, from AED 28.2 million in H1-20. The company attributed the decrease in losses to lower finance costs, …
The group's total income amounted to $181.01 million in H1-21
12 August 04:52 PM GFH reports 146% higher profits in H1-21
Mubasher: The net profits attributable to the shareholders of GFH Financial Group hiked by 146.1% to $37.04 million in the first half (H1) of 2021, compared to $15.05 million in the year-ago period. Higher profits are attributed to the increased …
The company's revenues surged to $349.3 million in the January-June period
10 August 05:42 PM Egypt Kuwait Holding's profit rises 36% in H1-21
Cairo - Mubasher: Egypt Kuwait Holding (EKH) reported net profits of $109.29 million in the first half (H1) of 2021, up by 36% year-on-year (YoY) from $80.24 million.  The company's revenues surged to $349.3 million in the January-June period, …
Saudi Arabia set Arab Light OSP to Northwest Europe at a discount of $1.70/barrel
4 August 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 company's revenues decreased to KWD 6.354 million
4 August 01:38 PM Al Mazaya Holding turns to profitability in H1-21
Mubasher: The net profits attributable to the shareholders of Al Mazaya Holding recorded KWD 84,233 during the first half (H1) of 2021, against net losses of KWD 4.949 million in the year-ago period, as shown by the company's interim consolidated …
The company will achieve operating profits from the contract
2 August 11:13 AM CGC's unit wins AED 195m tender for project in UAE
Mubasher: A subsidiary of Combined Group Contracting (CGC) has won a tender to develop and raise the efficiency of Sharjah E88 federal road in the UAE at a total value of AED 194.8 million (KWD 15.965 million). The project will take 730 days to be …
Aramco confirms that these claims are completely false
2 August 10:44 AM Aramco denies mining Bitcoin
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has refuted the news reporting that it would embark on Bitcoin mining activities, according to a press release on Monday. “Aramco confirms that these claims are completely false and …
Zain will invest $10 million in the newly entity between Swvl and Queen's Gambit
1 August 04:19 PM Kuwait's Zain Ventures invests in Pipe, Swvl to support their regional, global growth
Mubasher: Kuwait's Mobile Telecommunications Company (Zain) has launched Zain Ventures to explore future investment opportunities in the venture capital, financial technology (fintech), and the technology world, with a focus on digital innovations …