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10 July 05:54 AM

News Analysis

The airline aims to operate nearly 45% of its pre-COVID capacity by August
7 July 12:54 PM Etihad Airways to expand services to 58 cities worldwide
Abu Dhabi - Mubasher: Etihad Airways announced the gradual expansion of normal scheduled services to more cities across its global network following the relaxation of COVID-19 travel restrictions on outbound and inbound travel for citizens and …
Global Economy
Committed investments in the GCC region increased by 2.3%
16 June 01:09 PM Investments in MENA estimated at $792bn in 5 yrs – APICORP
Mubasher: The Arab Petroleum Investments Corporation (APICORP) estimates that planned and committed investments in the Middle East and North Africa (MENA) region will exceed $792 billion over the next five years from 2020 to 2024. The estimated …
Macroeconomics
The GCC region could witness an over $40 billion loss in tourism returns
14 June 03:59 PM UAE's int'l tourism revenue expected to drop by 70% on COVID-19
UAE - Mubasher: The UAE's international tourism returns will slump by $15 billion to $6.4 billion in 2020, compared to $21.4 billion in 2019 due to the coronavirus (COVID-19) outbreak, decreasing by 70%. The number of tourists arriving in GCC …
Macroeconomics
Saudi Arabia’s maritime needs are set to significantly grow
10 June 02:51 PM Shipbuilding expected to boom on GCC energy ambitions
Mubasher: As regional energy companies try to solidify their oil and gas market share over the long term, competition in the Arabian Gulf region amongst national oil companies (NOCs) to establish global energy dominance has paved the way for a …
Macroeconomics
KPMG - Saudi Arabia
2 June 04:53 PM M&A deals in GCC expected to grow amidst COVID-19 – Report
Riyadh – Mubasher: A recent report by KPMG is expecting merger and acquisition (M&A) deals in Saudi Arabia and other Arabian Gulf countries to increase amid the coronavirus disease (COVID-19) pandemic. With many small and medium-sized enterprises …
Global Economy
Photo Archive
31 May 04:01 PM Tadawul lists AlBilad Gold ETF
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced the listing and trading units of “AlBilad Gold ETF” as an exchange-traded fund (ETF). on Tuesday 2 June 2020. The units if the fund will be traded under the symbol 9405. The Saudi …
Markets Regulations
The UAE's oil production in May came in line with the OPEC+ agreement
31 May 10:19 AM UAE delivers 2.4m bpd in May
UAE - Mubasher: The UAE has produced 2.40 million crude oil barrels per day (bpd) in May, a source told Reuters. The UAE's oil production in May came in line with OPEC+ agreement to cut oil supply by 9.7 million bpd as of 1 May, due to a decrease …
Commodities
Saudi Aramco is currently the most profitable company worldwide
26 May 11:02 AM World's top 2,000 list includes 40 Arab companies; Aramco ranked 5th
By: Amal A. Wahaab Mubasher: This year's Forbes Global 2000 list saw the inclusion of 40 companies from the Arab world in the magazine's ranking of the world's top 2,000 companies, based on assets, profits, revenues, and market value.  Oil giant …
Global Economy
Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla
25 May 01:41 PM Egypt plans EGP 19bn investments in petrochemical projects
Cairo - Mubasher: The Egyptian Ministry of Petroleum and Mineral Resources is considering the implementation of 11 new petrochemical projects at a total value of around EGP 19 billion, Minister of Petroleum and Mineral Resources Tarek El-Mulla …
Commodities
Hotels in five governorates could reopen after receiving the safety certificate
24 May 11:13 AM Egypt grants health safety certificates to over 70 hotels
Cairo - Mubasher: More than 70 hotels in Egypt last week have received the health safety certificate, which is necessary for resuming their operations, according to Egypt’s tourism and antiquities minister. Receiving the certificate came after …
Macroeconomics
Egypt's production of natural gas increased to 7 bcf in September
24 May 10:41 AM Egypt's natural gas production reaches 7.2 bcf per day
Cairo - Mubasher: Egypt's daily production capacity of natural gas reached an average of 7.2 billion cubic feet (bcf), Reuters reported citing a recent statement by the Egyptian cabinet. In September, Egypt's production of natural gas increased to …
Commodities
(Photo Credit: cafecredit)
21 May 11:39 AM GCC sees growing trend for fintech platforms amid COVID-19 crisis
Mubasher: The GCC region is set for a big leap in the use of financial technology applications amid the coronavirus (COVID-19) outbreak with the Middle East and Africa (MEA) region witnessing a 70% growth in the use of contactless payments, …
Banking and Finance
Saudi oil production in June is seen at 7.492 million b/d
11 May 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 …
Macroeconomics
Air Arabia Abu Dhabi becomes the fifth UAE national operating airline
23 April 12:56 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
Domestic M&A registered a 92% annual drop in Q1-20
16 April 11:42 AM MENA M&A deals record $14.8bn in Q1-20 – Report
Dubai – Mubasher: Investment banking fees in the Middle East and North Africa (MENA) region rose by 11% year-on-year (YoY) to an estimated $188.8 million during the first quarter (Q1) of 2020, with three-figure gains recorded across mergers and …
Global Economy
The per-litre price of Super 98 recorded AED 2.16
30 March 10:56 AM UAE to lower fuel prices in April
Dubai – Mubasher: The fuel prices follow-up committee of the UAE energy ministry announced a decrease in fuel and diesel prices in April compared to March. The per-litre prices of Super 98, Special 95, diesel, and E-Plus 91 will stand at AED 1.91, …
Sector Reports
All inbound and outbound passenger flights will be halted for two weeks
23 March 09:48 AM UAE halts passenger flights for 2 weeks
Abu Dhabi – Mubasher: The National Emergency Crisis and Disasters Management Authority (NCEMA) and the General Civil Aviation Authority (GCAA) have announced the suspension of all inbound and outbound passenger flights in the UAE for two …
Global Economy
Buses, trains, and taxis will be suspended for 14 days
20 March 02:34 PM Saudi Arabia halts transportation services on coronavirus fears
Riyadh – Mubasher: Saudi Arabia has suspended the operations of various components across the transportation sector for two weeks, as part of efforts to control the spread of the new coronavirus (COVID-19). The move comes in line with …
Global Economy
Revenues amounted to KWD 14.31 billion in 11M
17 March 02:31 PM Kuwait’s oil revenues down 17% in 11M
Mubasher: Kuwait’s oil revenues decreased by 16.7% on an annual basis during the first 11 months of the fiscal year (FY) 2019/2020, according to recent data by the Ministry of Finance. Revenues for the period amounted to KWD 14.31 billion ($46.46 …
Commodities
DFM has closed its trading hall
16 March 10:28 AM DFM closes trading hall to contain coronavirus
Dubai – Mubasher: Dubai Financial Market (DFM) has temporarily closed its trading floor and customer affairs counter, starting from Monday and until further notice, as part of precautionary measures to contain the coronavirus (COVID-19) pandemic. …
Trading Activities
Kuwaiti government aims to combat the new coronavirus epidemic
15 March 06:06 PM Kuwait orders restaurants not to serve more than five at a time
Mubasher: The Kuwaiti Public Authority for Food and Nutrition (PAFN) has asked restaurants, coffeehouse, bakeries and other food businesses not to serve more than five customers at once. The measurement includes organizing lines with a space of at …
Markets Regulations
ADX has closed its trading halls across the UAE
15 March 12:28 PM ADX closes trading halls amid coronavirus outbreak
UAE – Mubasher: The Abu Dhabi Securities Exchange (ADX) has closed its trading halls across the UAE starting from Sunday until further notice, as part of the precautionary measures taken in the country to face the coronavirus (COVID-19) outbreak. …
Trading Activities
Boursa Kuwait
14 March 02:00 PM Boursa Kuwait to resume trading on Sunday with new limits
Mubasher: Boursa Kuwait is set to resume operations as of Sunday 15 March, as approved by the Capital Markets Authority (CMA). However, the transfer of ownership, mandatory execution, off market trade, and over the counter (OTC) trading will all …
Global Economy
The bourse will provide any new details in due course
12 March 12:22 PM Boursa Kuwait shuts down on Thursday amid coronavirus fears
Mubasher: The Kuwaiti stock market announced the suspension of all trading activities after closing on Thursday, 12 March, as a part of precautionary measures against the fast-spreading coronavirus (COVID-19). Any developments in this regard will …
Trading Activities
The surge in the trading came amidst rising economic uncertainty
2 March 04:50 PM DGCX gold futures trading jumps 774% year-to-date
Dubai – Mubasher: The trading of gold futures on the Dubai Gold and Commodities Exchange (DGCX) has registered an around 773.6% year-to-date hike, when compared to the same period of 2019, driven by a multi-year record during January. The surge in …
Trading Activities