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24 November 04:59 PM Airlines to record $157bn losses in 2020, 2021 - IATA
The IATA warned of $157 billion losses expected to be witnessed by airlines in 2020 and 2021 due to COVID-19.
24 November 02:42 PM Elon Musk becomes world's second-richest person
Elon Musk has officially overtaken Bill Gates to become the world's second-richest person.
The assets of UAE banks rose by 3.2% QoQ in Q3-20
24 November 10:04 AM UAE's listed banks record highest growth in assets in GCC in Q3-20
UAE - Mubasher: The listed banks in the UAE achieved the highest quarter-on-quarter (QoQ) growth in assets across the GCC countries during the third quarter (Q3) of 2020, according to a report published by Kamco Invest. The assets of UAE banks, …
23 November 03:49 PM AstraZeneca-Oxford COVID-19 vaccine can be 90% effective
Mubasher: The UK’s pharmaceutical giant AstraZeneca announced that its coronavirus (COVID-19) vaccine could be about 90% effective.
Pfizer and BioNTech vaccine is called BNT162b2.
18 November 03:59 PM Pfizer says final data shows coronavirus vaccine is 95% effective
Mubasher: Pfizer and BioNTech said on Wednesday that a final data analysis found their coronavirus vaccine was 95% effective in preventing COVID-19 and appeared to fend off severe disease, according to CNBC. The drugmakers said the vaccine, called …
The Danish firm recorded a 39% quarterly rise in EBITDA.
18 November 01:10 PM Maersk sees faster-than-expected quarterly rebound
Mubasher: Maersk, the world’s largest container shipping firm, matched third-quarter profit expectations amid a stronger-than-expected upswing in demand, CNBC reported on Wednesday. The Danish firm recorded a 39% quarterly rise in earnings before …
17 November 04:59 PM Amazon enters online pharmacy business  
Mubasher: Amazon.com launched an online pharmacy called, allowing customers in the US to order prescription medications for home delivery.
This storage requirement is significantly below the standard for vaccines
17 November 04:01 PM Pfizer launches pilot delivery programme for COVID-19 vaccine in four US states
Mubasher: The US pharmaceutical company Pfizer has started a pilot delivery programme for its experimental coronavirus (COVID-19) vaccine in four US states, Reuters reported. This decision aims to face the challenges facing the ultra-cold storage …
The non-oil trade exchange between UAE and Oman amounted to AED 48bn
17 November 01:24 PM UAE's non-oil trade exchange with Oman records AED 48bn in 2019
UAE – Mubasher: The non-oil trade exchange between the UAE and Oman amounted to AED 48 billion ($13.06 billion) in 2019, the UAE Ministry of Finance announced. The value of real estate properties owned by 3,993 Omanis in the UAE reached AED 14 …
16 November 04:34 PM Moderna vaccine found 94.5% effective in preventing COVID-19
Moderna Inc on Monday said its experimental vaccine was 94.5% effective in preventing COVID-19 based on interim data from a late-stage trial.
16 November 03:44 PM OPEC+ starts meetings to support oil market amid COVID-19
OPEC+, are holding meetings starting on Monday to highlight ways to support the oil market in 2021 amid the surge of Coronavirus (COVID-19) again.
ABAX was acquired by Investcorp in 2017.
16 November 12:08 PM Investcorp's ABAX takes over Nordic-based Automile
Mubasher: Investcorp announced that its portfolio company ABAX, the leading telematics solutions provider in the Nordics, has acquired Automile, a Nordic-based provider of telematics and internet of things (IoT) services. The transaction …
Photo Archive
15 November 03:54 PM Investcorp invests in FreshToHome
Mubasher: Investcorp has invested in FreshToHome, one of the world’s largest fully integrated online brands in fresh fish and meat, as a part of a $121 million funding round alongside other prominent investors. Investcorp has been evaluating …
12 November 01:27 PM IEA says coronavirus vaccines unlikely to rescue oil market soon
The International Energy Agency said it does not expect the prospect of a coronavirus vaccine to significantly boost oil demand until well into next year.
12 November 11:47 AM Global M&A activity showcases improvement in September
The global mergers and acquisitions (M&A) deal landscape showcased improvement in September 2020, after it was affected by the coronavirus outbreak during the third quarter.
The lender’s total assets reached $26.91 billion by end of September 2020.
10 November 12:13 PM Al Baraka Banking Group maintains profit levels at $132m in 9M
Mubasher: The Bahrain-based Al Baraka Banking Group (ABG) achieved a total net income of $132 million during the first nine months of 2020, which is the same level of profits achieved during the last-year period. The group allocated 204% higher …
The USD registered EGP 15.59 for buying
9 November 04:38 PM EGP advances against USD to highest level since early March
Cairo – Mubasher: The Egyptian pound exchange rate advanced against the US dollar to its highest level since 8 March, according to data by the Central Bank of Egypt (CBE). The USD registered EGP 15.59 for buying and EGP 15.72 for selling, the CBE …
9 November 04:34 PM Pfizer, BioNTech's COVID-19 vaccine candidate over 90% effective
The mRNA-based vaccine candidate of Pfizer and BioNTech has shown over 90% efficacy in preventing coronavirus (COVID-19).
8 November 03:23 PM Biden calls for unity in US presidential victory speech 
Biden said that “it was time to heal” a divided America, while President Donald Trump rejected to concede.
The group's income from operations declined to OMR 939,000
8 November 12:27 PM Oman & Emirates Investment's losses deepen in 9M
Mubasher: Oman & Emirates Investment Holding Company (OEIHC) has logged net losses attributable to the owners of the parent of OMR 1.78 million ($4.62 million) during the first nine months of 2020, compared to OMR 319,212 ($825.91 million) in the …
5 November 03:28 PM Alibaba quarterly revenue more than expected
China's Alibaba Group Holding Ltd beat estimates for quarterly revenue, as its core e-commerce business continued to rise following China's emergence from the coronavirus lockdown.
The trade exchange with these countries amounted to AED 55.2bn
5 November 03:27 PM UAE records AED 5.37bn trade balance surplus with Gulf countries
UAE – Mubasher: The UAE's trade balance recorded around AED 5.37 billion ($1.46 billion) surplus with four Gulf countries during the first quarter (Q1) of 2020, according to the latest data by the Federal Competitiveness and Statistics …
5 November 01:53 PM Biden moves closer to winning US presidential race
Democrat Joe Biden on Thursday stepped closer to victory in the US presidential race.
The company's revenues decreased by 1.81%
5 November 01:32 PM Omantel's net profits down 12% in 9M
Mubasher: Oman Telecommunications (Omantel) reported an 11.95% decline in its net profits attributable to the shareholders to OMR 46.4 million ($120.13 million) during the first nine months of 2020 from OMR 52.7 million ($136.44 million) in the …
4 November 05:29 PM US trade deficit shrinks 4.7% in September on higher exports
Mubasher: The US trade deficit narrowed by 4.7% in September on the back of higher exports of farm crops, including soy beans.