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6 December 05:33 PM Fintactics launches new ventures, enters partnerships during Saudi Arabia’s World Fintech Show
Riyadh – Mubasher: The World Fintech Show has witnessed the launch of new ventures Holoul and Leza'am by Fintactics, which also signed partnership agreements with Aion Digital and Bitfy Holdings. The event, which kicked off on 5 December in …
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6 December 04:36 PM Seedstars to develop VC managers in emerging markets
Mubasher: Switzerland-based Seedstars has launched its investment arm Seedstars Capital for emerging venture capital (VC) fund managers across the Middle East and other emerging markets with the support of xMultiplied, a Swiss-based investment …
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6 December 12:54 PM Saudi Arabia cuts January oil prices to Asia to 10-month low
Riyadh – Mubasher: Saudi Arabia cut the January 2023 official selling price (OSP) for its flagship Arab Light crude for Asian buyers to a 10-month low, on concerns over a drop in demand and a potential increase in Russian competition. The Saudi …
Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank
5 December 05:38 PM Mobile apps see over $2.7 daily transactions – World Bank’s Abu Sulaiman
Riyadh – Mubasher: Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank, stated that transactions worth more than $2.70 billion are being traded on a daily basis through mobile applications. Abu Sulaiman highlighted that …
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5 December 04:07 PM World Fintech Show kicks off in Saudi Arabia
Riyadh – Mubasher: The World Fintech Show has launched today, 5 December, in Saudi Arabia’s capital Riyadh at InterContinental Riyadh.   The event aims to connect the world’s fintech innovators with enterprises, investors, policymakers, startups, …
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1 December 02:50 PM Egypt’s state grains buyer offers 10K tonnes of Russian wheat via EMX
Cairo - Mubasher: Egypt’s Ministry of Supply and Internal Trade said that the General Authority for Supply Commodities (GASC) offered on 30 November 2022 a total of 10,000 tonnes of imported Russian wheat, Ahram Gate reported on Thursday. The …
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1 December 11:07 AM OIC member states log $63bn trade deficit for halal economy products in 2021
Mubasher: The member states of the Organisation of Islamic Cooperation (OIC) have registered a trade deficit of $63 billion for halal economy products in 2021, according to the 2022 Annual OIC Halal Economy Report. Last year, total halal product …
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30 November 09:44 AM UAE’s strong economy to pull in more foreign investments - Al Tamimi Investments
Dubai - Mubasher: Robust investment flows to the UAE are expected in the coming years thanks to the country’s consistent strong economic performance, steady growth, and ambitious development plans in the next 50 years, says Al Tamimi Investments. …
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29 November 04:13 PM Bioventure, Minapharm, MiGenTra to commercialise multiple biosimilar candidates of Alvotech
Mubasher: Dubai-based Bioventure, Minapharm Pharmaceuticals, and MiGenTra GmbH have signed an exclusive licence agreement for the commercialisation of multiple biosimilar candidates developed and manufactured by Alvotech, in Egypt and eighteen …
Osmar Chohfi, President of ABCC
27 November 03:32 PM Brazilian exports to Arab world exceed $14bn in 10M-22
Mubasher: The Arab Brazilian Chamber of Commerce (ABCC) has announced an annual increase of 25.71% in Brazilian exports to the Arab countries during the first ten months (10M) of 2022 at $14.47 billion from $11.51 billion. Brazilian exports to the …
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27 November 09:51 AM Saudi Arabia becomes 1st Gulf state to chair UNWTO Executive Council
Mubasher: Saudi Arabia has become the first GCC country to chair the United Nations World Tourism Organization (UNWTO) Executive Council. The election took place at the UNWTO’s 117th Executive Council meeting in Marrakesh, Morocco. The move …
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23 November 04:43 PM DMCC digitises gold trading through tokenisation of Comtech Gold bullion
Dubai - Mubasher: DMCC announced a partnership with Comtech Gold to digitise the trading of gold by tokenising the precious metal backed by physical gold bars registered on DMCC Tradeflow. DMCC Tradeflow is an online platform for registering the …
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23 November 03:18 PM DFM launches new general index
Dubai - Mubasher: Dubai Financial Market (DFM) has launched its new general index culminating the successful accomplishment of a comprehensive transformation of its indices’ methodology. The developed indices provide various market participants …
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17 November 10:09 AM Egypt inks renewable energy agreements of $83bn
Cairo – Mubasher: Egypt's Minister of Planning, Hala El-said, witnessed the signing of a number of agreements and cooperation protocols between the Sovereign Fund of Egypt (TSFE) and a number of developers worth $83 billion in the renewable energy …
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13 November 04:58 PM Metaverse presents some $13trn opportunity for Midest telcos - Report
Dubai - Mubasher: Metaverse represents a major new market for telcos with early estimates of the overall size of the metaverse opportunity to be around $13 trillion by 2030, according to a report by Arthur D. Little (ADL).   Ericsson for example …
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13 November 03:35 PM Saudi minister unveils climate action projects during COP27
Cairo – Mubasher: The Saudi Minister of Energy, Prince Abdulaziz bin Salman, announced the inauguration of three new projects to enhance the kingdom’s national and regional climate action.  The minister's remarks were made during the second day of …
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9 November 06:05 PM Abu Dhabi Airports to launch advanced biometric technology
UAE – Mubasher: Abu Dhabi Airports plans to set up advanced biometric technology, which provides a touchless boarding experience that uses a passenger’s facial features as their passport, according to a recent press release. The passengers …
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9 November 03:37 PM Almosafer to fuel inbound tourism growth in region
Riyadh - Mubasher: Almosafer and Visit Oman have signed a partnership agreement at World Travel Market to boost leisure tourism to Oman from Saudi Arabia, Kuwait, and the UAE.   Under the agreement, Almosafer’s consumer business will run a 360 …
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9 November 12:41 PM Saudi CMA approves capital raise requests worth over SAR 100bn in about 5 years
Riyadh – Mubasher: The Capital Market Authority (CMA) approved some 116 capital increase requests by listed companies from January 2018 to the end of the first half (H1) of 2022, with a value surpassing SAR 100 billion. This reflects CMA's role in …
Rania El-Mashat, Egypt’s Minister of International Cooperation
8 November 11:39 PM Egypt’s international cooperation minister chosen for Generation Unlimited
Cairo – Mubasher: Rania El-Mashat, Egypt’s Minister of International Cooperation, has been selected to be part of the Global Leaders' Council of the United Nations Initiative (Generation Unlimited). Kevin Frey, Executive Director of the Generation …
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8 November 05:28 PM Commissioning of Africa’s 1st integrated green hydrogen plant starts
Cairo - Mubasher: Fertiglobe, the strategic partnership between ADNOC and OCI, announced the start of the commissioning of the first phase of the green hydrogen plant in Egypt's Ain Sokhna, during an event at COP27.  The event was attended by …
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8 November 02:59 PM ACWA Power considers bringing on Oman as investor for Suez wind energy project
Cairo – Mubasher: ACWA Power Company signed a memorandum of understanding (MoU) with Oman Investment Authority (OIA) to explore bringing the sovereign wealth fund on as an investor for the 1.1GW Suez wind energy project in Egypt.  According to the …
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8 November 02:02 PM New crypto, blockchain association inaugurates in Abu Dhabi
Abu Dhabi – Mubasher: The Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA) has launched its business in Abu Dhabi, a pivotal step forward in the development of accessible, transparent, and compliant crypto-blockchain …
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8 November 09:32 AM DP World to invest $500m to reduce CO2 emissions
Dubai – Mubasher: DP World plans to invest up to $500 million to cut CO2 emissions from its operations by nearly 700,000 tonnes over the next five years, Emirates News Agency (WAM) cited the company’s Chairman and Group CEO, Sultan Ahmed bin …
CEO of APICORP, Khalid Ali Al-Ruwaigh
7 November 02:25 PM APICORP, Hartree ink $75m Islamic facility for voluntary carbon offsets
Riyadh - Mubasher: The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral financial institution, announced the signing of a $75 million Murabaha agreement in favor of Hartree Partners Power & Gas Company (UK) Limited, …