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EFG Hermes came in second ranking on the ADX
19 January 04:47 PM EFG Hermes tops brokerage firms in Egypt, Kuwait, Dubai, Kenya
Cairo – Mubasher: EFG Hermes Securities Brokerage topped brokerage firms in Egypt, Kuwait, Dubai, and Kenya during 2020 and came in the second position in Abu Dhabi and Nigeria and the third place in Oman. The brokerage firm kept its leading …
19 January 04:25 PM Bank of America sees lower profits in Q4-20
Bank of America Corp recorded a decline in profits during the fourth quarter (Q4) of 2020.
19 January 02:41 PM Tesla starts delivering first Shanghai-made Model Y crossovers in China
Tesla began delivering locally-produced Model Y crossovers in China on 18 January.
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 …
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17 January 01:43 PM Emirates’ trade surplus with GCC hits AED 3bn in 9M
Dubai – Mubasher: The UAE’s trade surplus with GCC countries amounted to AED 3 billion ($817 million) during the first nine months of 2020. The achieved surplus excludes AED 35.601 billion worth of non-oil exports and AED 32.61 billion worth of …
14 January 03:38 PM PepsiCo plans to achieve net-zero emissions by 2040
PepsiCo seeks to achieve net-zero emissions across its production cycle system by 2040.
13 January 05:19 PM Chipmaker Qualcomm to acquire NUVIA for $1.4bn
Mubasher: Mobile-phone chipmaker Qualcomm Inc said an agreement to acquire NUVIA, a chip startup founded by three of Apple’s top executives, for about $1.4 billion.
The UAE’s Minister of State for Foreign Affairs, Anwar Gargash
7 January 01:44 PM UAE says trade, transport may resume with Qatar within week
Abu Dhabi – Mubasher: Trade and transportation could resume between Qatar and boycotting countries within a week, Reuters reported on Thursday citing the UAE’s Minister of State for Foreign Affairs, Anwar Gargash. “Some issues are easier to fix …
Qatar’s foreign reserves continued to rise for the 34th successive month in December 2020.
7 January 01:03 PM Standard Chartered expects Qatar’s economy to grow 3% this year
Doha – Mubasher: Standard Chartered expected Qatar’s economy to grow by 3% this year as the easing of a three-year-old regional dispute will help trade, tourism, and logistics, Reuters reported. The British lender had revised its previous 2.1% …
6 January 02:39 PM GM's 2020 China sales see third annual drop on pandemic
General Motors Co’s vehicle sales in China dropped by 6.2% in 2020, attributed to a prolonged sales slowdown in the world’s biggest auto market.
Saudi Arabia's Crown Prince Mohammed bin Salman signing the agreements.
5 January 04:44 PM Gulf leaders sign 41st GCC summit closing statement, Al ULA agreement
Riyadh – Mubasher: Gulf leaders on Tuesday have inked the closing statement of the 41st GCC summit and Al ULA agreement. The annual GCC summit kicked off today at Maraya Concert Hall in Saudi Arabia’s Al ULA city, with the presence of all member …
Egypt’s Foreign Minister, Sameh Shoukry, will also take part in the annual summit.
5 January 03:17 PM 41st GCC summit kicks off in Saudi Al ULA city
Riyadh – Mubasher: The 41st GCC summit has kicked off on Tuesday in Saudi Arabia’s Al ULA city. Earlier today, Gulf Arab leaders headed to Saudi Arabia to attend the summit. Egypt’s Foreign Minister, Sameh Shoukry, will also take part in the …
KSA achieved a trade surplus with Gulf nations of SAR 19 billion ($5.07 billion) in the January-October period.
5 January 02:05 PM Saudi, GCC trade exchange reaches SAR 97.9bn in 10M
Riyadh – Mubasher: Saudi Arabia’s trade exchange with GCC states plunged by 18.7% on an annual basis during the first ten months of 2020, pressured by the coronavirus pandemic.  The exchange value stood at SAR 97.89 billion ($26.1 billion) over …
Kuwait's Emir heading to KSA for the GCC summit earlier today.
5 January 11:42 AM Gulf leaders head to 41st GCC summit in KSA
Mubasher: Kuwait’s Emir, Sheikh Nawaf al-Ahmad al-Jaber al-Sabah, headed to Saudi Arabia on Tuesday to attend the 41st GCC summit, which will be hosted in Al ULA city.  On Monday, Qatar said that its Emir, Sheikh Tamim bin Hamad al-Thani, will …
Kuwait’s Foreign Minister, Ahmad Nasser al-Sabah
5 January 10:42 AM KSA reopens airspace, land border to Qatar
Riyadh – Mubasher: Saudi Arabia has reopened its airspace and land and sea border to Qatar as of Monday, 4 January, Reuters said citing Kuwait’s Foreign Minister, Ahmad Nasser al-Sabah. “An agreement has been reached to open airspace and land and …
4 January 03:09 PM US airlines’ 2020 losses could top $35bn on pandemic
The Covid-19 pandemic has been brutal for US airlines, with carriers’ 2020 net losses likely topped $35 billion.
4 January 02:20 PM Peugeot owner's top shareholders nod to merger with Fiat
The top shareholders in Peugeot owner PSA have approved the group’s merger with Fiat Chrysler (FCA).
4 January 01:55 PM Eurozone manufacturing growth at fastest pace since May 2018
Mubasher: The eurozone manufacturing sector ended 2020 on a high note, with output growing at its fastest pace in the last three years.
4 January 01:05 PM Pandemic sends Singapore’s economy to worst ever recession in 2020
Singapore’s economy contracted by less than expected in 2020 as activity levelled up further in the fourth quarter (Q4) following the easing of COVID-related restrictions.
Sukuk maturities are predicted to be at $115.7 billion over the next five years.
30 December 2020 02:58 PM GCC governments could see $157.1bn in fixed income maturities in 5 yrs
Riyadh – Mubasher: GCC governments are expected to see $157.1 billion in fixed income maturities over the next five years (2021-2025) whereas corporate maturities stand at $164.3 billion, Kamco Invest said in a report on Wednesday. A majority of …
(Photo Credit: https://mecei.org/)
29 December 2020 01:46 PM MENA holds strong potential for low, zero-carbon energy sources - Report
Riyadh – Mubasher: The Arab Petroleum Investments Corporation (APICORP) highlighted in its MENA Power Investment Outlook 2020-2024 key regional developments and prevalent trends in the power sector over the short and medium terms. Among the …
The kingdom’s trade exchange with Arab countries fell by 18.97% in the January-October period.
28 December 2020 04:32 PM Saudi trade exchange with Arab states hits SAR 150.4bn in 10M
Riyadh – Mubasher: Saudi Arabia’s trade exchange with Arab states declined in the first ten months of 2020 given the impact of the COVID-19 pandemic on trade movement. The kingdom’s merchandise trade exchange with Arab countries fell by 18.97% in …
The resumption came after a one-week hiatus
28 December 2020 00:31 PM EgyptAir resumes flights to Oman on Monday
Cairo – Mubasher: EgyptAir announced the resumption of flights between Cairo and Muscat starting from the evening of 28 December. Travellers will be asked to show a negative PCR test issued within 72 hours before arrival, according to a statement …
Mirna Arif, General Manager of Microsoft Egypt
21 December 2020 00:02 PM Reimagining Egypt’s economy through digital transformation – Interview with Mirna Arif
By: Marina Gamil Cairo – Mubasher: In its recovery phase, Egypt has taken several initiatives to increase the contribution of digitalisation in its economic growth by advancing information technology (IT) infrastructure, supporting startups and …
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17 December 2020 09:21 PM Identifying investment opportunities post-COVID – Interview with Huda Al-Lawati
By: Moslem Ali Mubasher: In a time when the region’s markets continue to cope with the impacts of the Coronavirus (COVID-19) crisis, it is always important to listen to the experts’ opinion as we review our broader outlook for the region’s markets …