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The supercomputer is named after the first oil well discovered in Saudi Arabia.
19 January 01:26 PM Saudi Aramco, STC launch Dammam 7 supercomputer
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) and the Saudi Telecom Company (stc) on Tuesday announced launching “Dammam 7”, a new supercomputer and one of the world’s 10 most powerful computers. The supercomputer, which is named …
Companies Investments
Aramco has set the January OSP of its Arab light crude oil to the US at plus $0.55 a barrel over ASCI.
6 December 2020 01:59 PM Saudi Aramco raises official January crude price to Asia
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has increased the January price for its Arab light crude to Asia to $0.30 a barrel over Oman/Dubai crude, up $0.80 from December, Reuters said on Sunday citing a company document. The …
Macroeconomics
Photo Archive
24 November 2020 08:51 AM Saudi Amiantit sells investments in Morocco
Riyadh - Mubasher: ​Saudi Arabian Amiantit Company on 23 November 2020 signed two agreements to sell its investments in Morocco. The Saudi firm has sold its entire 50% stake in Amitech Morocco for EUR 2.7 million (SAR 12.03 million), achieving net …
Companies Investments
The unit's capital will be increased to MAD 582.161 million from MAD 470 million.
10 November 2020 10:06 AM SPIMACO’s Morocco affiliate approves capital raise
Riyadh - Mubasher: The Saudi Pharmaceutical Industries and Medical Appliances Corp (SPIMACO) said the extraordinary assembly of its 70.65%-owned subsidiary, SPIMACO Morocco for Pharmaceutical Industries, approved increasing the company’s capital …
Companies Investments
The final Forbes list is composed of 750 multinational and large corporations headquartered in 45 countries.
19 October 2020 01:15 PM Saudi Aramco ranked 1st regionally in Forbes "World's Best Employers" list; 26th globally
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has secured the first spot regionally and the 26th spot globally on Forbes’ fourth-annual list of the World’s Best Employers for 2020. Forbes said it partnered with market research …
Global Economy
The company will be able to fulfill various investment objectives
4 October 2020 11:37 AM BH Mubasher obtains Investment Management license from SCA
Dubai – Mubasher: BH Mubasher, a leading company in the UAE’s financial market, has obtained an Investment Management license from the Securities and Commodities Authority (SCA). Through the license, the company will be able to fulfill various …
Global Economy
A total of 40 tonnes of high-grade blue ammonia were dispatched to Japan
27 September 2020 02:15 PM Saudi Aramco, Japan’s IEEJ ship world’s first blue ammonia
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) and Japan’s Institute of Energy Economics(IEEJ), in partnership with the Saudi Basic Industries Corporation (SABIC), demonstrated the production and shipment of blue ammonia from …
Companies Investments
Photo Archive
6 September 2020 10:21 AM Saudi Aramco cuts October Arab light crude price to Asia
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) slashed the October official selling prices (OSPs) for the Arab light crude it sells to Asia by $1.40 a barrel, to 50 cents a barrel below the Oman/Dubai average, Reuters recently …
Commodities
Wafa Life Insurance Egypt has a paid-up capital of EGP 150 million
2 September 2020 04:36 PM Morocco’s Wafa Assurance obtains licence to operate in Egypt
Cairo – Mubasher: Morocco’s Wafa Assurance has obtained a licence from the Financial Regulatory Authority (FRA) to launch its new life and health insurance unit in Egypt. Currently, Wafa Assurance is operating in Morocco, Tunisia, Côte d'Ivoire, …
Companies Investments
DFM has approved BH Mubasher as a Market Maker
30 August 2020 04:50 PM DFM approves BH Mubasher as Market Maker
Dubai – Mubasher: The Dubai Financial Market (DFM) has approved BH Mubasher, a leading company in the UAE’s financial market, as a Market Maker. The move authorises BH Mubasher to provide liquidity to companies listed on the DFM, according to the …
Global Economy
Aramco will decrease the August Arab Heavy crude supplies by about 10%
13 July 2020 10:44 AM Aramco slashes August heavy crude supplies to six Asian buyers
Riyadh - Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) will slash its August-loading shipments of medium and heavy crude grades to at least six Asian buyers, Reuters reported on Monday citing sources familiar with the matter. Buyers in …
Commodities
Aramco raised August prices to all markets
6 July 2020 11:04 AM Saudi Aramco raises August oil prices
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has raised the August official selling prices (OSP) for its Arab light crude oil sold to all markets, Reuters reported on Monday. The oil giant set the August OSP for Asian customers …
Commodities
The price for Octane 91 has been set at SAR 0.98 per litre
1 July 2020 10:45 AM Saudi Aramco adjusts fuel prices after latest VAT hike
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has adjusted the local fuel prices after the decision to increase the value-added tax (VAT) to 15% came into effect on Wednesday.     The oil giant has set the prices for the Octane …
Macroeconomics
The loan has a seven-year term
29 June 2020 11:16 AM Edita's Moroccan unit borrows $8.2m from Arab Bank
Cairo – Mubasher: Edita Food Industries announced that its subsidiary Edita Food Industries-Morocco received a loan worth MAD 80 million (about $8.2 million) from Arab Bank – Morocco. The seven-year loan will be used to finance the establishment …
Banking and Finance
Four refiners had smaller cuts in July when compared with June
15 June 2020 11:19 AM Saudi Aramco decreases July crude supplies to 5 Asia buyers
Riyadh - Mubasher: Saudi Aramco has reportedly decreased the July crude volume that it will supply to at least five Asian buyers, Reuters reported on Monday citing multiple sources. The reductions were primarily made for the medium and heavy …
Macroeconomics
Butane prices for June have been reduced to $330 a tonne
31 May 2020 01:21 PM Saudi Aramco raises propane price for June, lowers Butane
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has increased the price of its propane futures for June delivery to $350 a tonne from $340 in May, a pricing document reported by Reuters showed on Sunday. Butane prices for June have …
Macroeconomics
Saudi oil production in June is seen at 7.492 million b/d
11 May 2020 03:33 PM KSA orders voluntary additional oil output cut
Riyadh – Mubasher: Saudi Arabia’s Ministry of Energy has directed Saudi Aramco to reduce crude oil production in June, Saudi Press Agency (SPA) reported. The output will include an extra voluntary amount of one million barrels per day (b/d), in …
Commodities
Phoenix Commodities Pvt was recently placed in liquidation
11 May 2020 10:58 AM CBI denies financial exposure to Phoenix Commodities
Abu Dhabi – Mubasher: Commercial Bank International (CBI) has negated any financial exposure to Phoenix Commodities Pvt or its related parties, according to the bank's disclosure to the Abu Dhabi Securities Exchange (ADX) on Monday. Founded 20 …
Banking and Finance
Air Arabia Abu Dhabi becomes the fifth UAE national operating airline
23 April 2020 00:56 PM Air Arabia Abu Dhabi receives air operating certificate
UAE – Mubasher: Air Arabia Abu Dhabi, a joint venture between Etihad Airways and Air Arabia, has obtained its Air Operating Certificate (AOC), becoming the fifth UAE national operating airline. To operate from Abu Dhabi, Air Arabia Abu Dhabi has …
Sector Reports
Special flights will be operated from Mumbai and Delhi to Sharjah on 20 April
20 April 2020 01:43 PM Air Arabia to run repatriation flights from India this week
Dubai – Mubasher: Air Arabia will operate new repatriation flights from four cities in India to Sharjah to bring Emirati nationals back home. The special flights will operate from Mumbai and Delhi to Sharjah International Airport on Monday, 20 …
Global Economy
All returning citizens underwent testing procedures at a well-equipped centre
20 April 2020 10:12 AM Jazeera Airways runs 15 rescue flights Sunday
Mubasher: Jazeera Airways has operated 15 flights last Sunday as part of the first phase of the air bridge flights to repatriate Kuwaiti citizens from abroad in light of the coronavirus (COVID-19) outbreak. The airline operated four flights from …
Global Economy
The first flights were operated by Kuwait Airways and Jazeera Airways
19 April 2020 11:05 AM Kuwait launches air bridge to evacuate its citizens from abroad
Mubasher: Kuwait International Airport on Sunday received two passenger flights from Dubai and Abu Dhabi as part of the air bridge flights to evacuate Kuwaiti nationals from abroad amid the coronavirus (COVID-19) pandemic. The flights were …
Global Economy
Photo Archive
12 April 2020 03:02 PM Aramco delays May prices pending OPEC+ talks
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has decided to delay its pricing decision for crude exports for May delivery, in anticipation for OPEC+ talks. Aramco is expected to announce its crude prices for May on Monday, …
Macroeconomics
Aramco has set the selling price of propane for April futures at $230 per tonne
31 March 2020 02:55 PM Saudi Aramco lowers propane price to $230/ton in April
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has set the selling price of propane for April futures at $230 per tonne, down from $430 per tonne in March. Aramco further announced, as cited by Reuters, that the selling price of …
Commodities
Kuwait Airways operated a flight to Beirut at 8:55 a.m. local time
25 March 2020 00:00 PM Kuwait charters flights to evacuate citizens from 3 countries
Mubasher: Kuwait's Directorate General of Civil Aviation (DGCA) announced that three chartered flights to Egypt, Lebanon, and Bahrain will take off on Wednesday, 25 March, from the Kuwait International Airport to bring back Kuwaiti citizens. …
Global Economy