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07 December 12:04 PM

Oman news

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2 hours ago Morni invests $10m in Egypt to acquire mobility startups
Cairo – Mubasher: Saudi Arabia-based mobility solutions platform Morni is planning to invest $10 million to target new acquisitions in Egypt in the mobility space through Exists.me, an acquisition and mergers (M&A) advisory firm.  The new buy-side …
Mergers and Acquisitions
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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 …
Macroeconomics
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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 …
Companies Investments
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6 December 03:29 PM OneOrder raises $3m seed round; total investment tops $10m
Cairo – Mubasher: Egypt-based B2B marketplace connecting restaurants to suppliers, OneOrder, announced closing a $3 million seed round led by Nclude as well as returning investor A15. This brings the company’s total investment to $10.50 million. …
Companies Investments
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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 …
Commodities
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 …
Sector Reports
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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, …
Event
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4 December 01:36 PM Dividend Gate Capital to develop, enhance healthcare outlook in GCC
Mubasher: Dividend Gate Capital (DGC) seeks to strengthen its healthcare portfolio in the GCC region through acquisitions and partnerships of fast-growing healthcare institutions, including Specialized Eye Centers, Medical Residency Screening …
Macroeconomics
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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 …
Commodities
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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 …
Global Economy
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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. …
Global Economy
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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 …
Macroeconomics
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 …
Macroeconomics
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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 …
Macroeconomics
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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 …
Macroeconomics
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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 …
Macroeconomics
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21 November 01:27 PM Americana Restaurants doubles UAE’s IPO shares for ADX listing
Mubasher: Americana Restaurants International increased the size of its UAE’s retail tranche to 10% from 5% in its initial public offering (IPO) to match Saudi Arabia’s retail offer. Meanwhile, the institutional tranche has been reduced to 80% …
Global Economy
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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 …
Global Economy
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16 November 12:48 PM Euromoney returns to Egypt this December; Mashreq Bank among lead sponsors
Cairo – Mubasher: Egypt will host the 25th edition of the Euromoney conference on 7 December 2022, under the auspices of Prime Minister Mostafa Madbouly, according to a press release. Mohamed Maait, Egypt’s Minister of Finance, as well as other …
Global Economy
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15 November 12:46 PM Egypt to host MENA’s first-of-kind Arab Actuarial Conference next year
Cairo – Mubasher: The Arab Actuarial Conference 2023 is scheduled to kick off in Cairo during 9-11 May 2023, for the first time in the MENA region, according to a press release. The three-day event will be held at the Four Seasons Hotel under the …
Event
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14 November 12:19 PM PwC Middle East supports regional startups through Net Zero Future50 initiative
Mubasher: PwC Middle East has initiated a search for 50 innovative climate tech startups in the Middle East to benefit from PwC’s support and platform in order to scale up and grow, according to a press release. Through the launch of Net Zero …
Global Economy
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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 …
Global Economy
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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 …
Macroeconomics
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10 November 07:04 PM ADX derivatives market announces AED 1bn in trades
Abu Dhabi – Mubasher: The derivatives market of the Abu Dhabi Securities Exchange (ADX) has recorded AED 1 billion in traded value during the first year of its launch. More than 1 million contracts were traded with over 100% above peers in the …
Trading Activities
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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 …
Global Economy