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19 February 01:02 AM

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Part of the signing ceremony
12 February 08:51 PM Egyptian gov’t signs MoU with Saudi ACWA Power
Cairo – Mubasher: Egypt’s housing and electricity ministries on Wednesday signed a memorandum of understanding (MoU) with Saudi Arabia’s ACWA Power to conduct primary and feasibility studies for water desalination plants powered by renewable …
Companies Investments
Photo Archive
30 January 01:46 PM Aramco lowers propane, butane prices for February
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has set propane price for February delivery at $505 per tonne, Reuters reported. The prices for next month are less than the $565 per tonne price set for January shipments. Aramco’s …
Breakbulk Middle East Exhibition
30 January 01:35 PM DP World to host Breakbulk Middle East for second year in row
Dubai – Mubasher: DP World, UAE Region will host the fifth edition of Breakbulk Middle East (BBME), the largest project cargo and breakbulk event in the GCC, for the second year in a row. With the aim of strengthening the UAE’s position in …
Event
The self-driving bus was presented at the King Abdulaziz Telecom Complex
28 January 04:18 PM stc launches region's first self-driving 5G bus
Riyadh – Mubasher: Saudi Telecom Company (stc) has launched the region’s first 5G-supported self-driving bus at the King Abdulaziz Telecommunication Complex in Riyadh. The bus, launched in collaboration with Ericsson, will help smooth the movement …
Companies Investments
Photo Archive
22 January 01:10 PM Aramco agrees LNG sale to S-Oil
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has reportedly sold a liquefied natural gas (LNG) cargo to South Korea’s S-Oil Corporation, through its trading arm Aramco Trading Company. The cargo was sold at around $4.40-$4.60 …
Companies Investments
CAFU delivers quality petrol in both Super 98 and Special 95
21 January 04:06 PM Fuel delivery app CAFU expands int’l business to Oman
Dubai – Mubasher: The MENA’s first on-demand fuel delivery app CAFU has signed an agreement with Oman's Al Maha Petroleum to provide its services in the Sultanate, as part of its international expansion plan. Firstly, the Dubai-based tech firm's …
Companies Investments
BisB will continue to be listed on Bahrain Bourse
18 January 09:48 PM NBB acquires 78.8% stake in Bahrain Islamic Bank
Mubasher: The National Bank of Bahrain (NBB) on Saturday announced that its offer to acquire up to 100% of the paid-up ordinary shares of the Bahrain Islamic Bank (BisB) resulted in the control of a 78.8% stake in the Islamic bank, according to …
Banking and Finance
OEIHC losses amounted to OMR 971,000
15 January 09:37 AM Oman & Emirates Investment reports OMR 1.4m losses in 2019
Abu Dhabi – Mubasher: Oman & Emirates Investment Holding Company (OEIHC) incurred a net loss of OMR 971,000 during the fiscal year (FY) ended 31 December 2019, compared with a net loss of OMR 68,000 in 2018. The parent company’s annual losses …
Financial Results
Abha will be Jazeera Airways's sixth destination in KSA
14 January 03:48 PM Jazeera Airways launches direct flights to Abha
Mubasher: Jazeera Airways announced that it prepares to launch a new direct service to Abha, making the capital of the Asir Region its sixth destination in Saudi Arabia. The new destination will be served with three weekly return flights every …
Companies Investments
Chief Global Business Officer, Adel Al Daylami
9 January 04:46 PM Batelco boosts global connectivity solutions via ‘Google Cloud Interconnect’
Mubasher: Bahrain’s leading digital solutions provider, Batelco, has unveiled 'Google Cloud Interconnect', a new development that strengthens the company’s cloud services and bolsters its global connectivity solutions through a secure, reliable, …
Macroeconomics
The new station includes various eco-friendly features
8 January 04:34 PM Oman Oil Marketing Company launches sultanate’s 1st green service station
Mubasher: Oman Oil Marketing Company (OOMCO) has launched the sultanate’s first green service station, according to a statement released on Wednesday. Located in Rusayl in northeastern Oman, the new station includes various eco-friendly features, …
Macroeconomics
The facility will enable OSC to promote its debt position
5 January 01:06 PM ADIB unveils 1st Sharia-compliant financing to Omani firm at $80m
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) will provide an $80 million Sharia-compliant Ijarah facility to Oman Shipping Company (OSC), a member of the ASYAD Group, to finance two Very Large Crude Carriers (VLCC) tankers within the OSC …
Macroeconomics
Unlimited fixed Ooredoo minutes will be given to subscribers
2 January 01:43 PM Omani Ooredoo to provide Ruwi with Super Fibre Network
Mubasher: Oman Qatari Telecommunications (Ooredoo Oman) will extend its Super Fibre Home Internet service to Ruwi City Centre in Muscat next week to provide its residents with up to 1Gbps starting from OMR 28 per month. The Super Fibre service’s …
Companies Investments
Aramco set the January price for butane at $590 per ton
31 December 2019 04:39 PM Saudi Aramco raises propane prices for January 2020
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has set the price for January propane shipments at $565 per ton, up from $440 in December. Meanwhile, Aramco set the January price for butane at $590 per ton, compared with $455 in …
Commodities
Photo Archive
23 December 2019 00:52 PM ACWA Power to build solar plants in Ethiopia
Riyadh – Mubasher: ACWA Power has signed two long-term power purchase agreements (PPA) with Ethiopia’s state-owned Ethiopian Electric Power Company (EEP) for two 125-megawatt (MW) solar photovoltaic (PV) projects. The agreement sets a tariff of …
Macroeconomics
Credit Agricole is still developing SMEs portfolio and getting some resources
18 December 2019 02:09 PM Antoine Paliard talks fintech innovation, startup contests – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Credit Agricole has chosen Infini Systems, an India-based startup, as the winner of the Fintech Hackathon 2019 during the RiseUp Summit, held in Cairo from 5 to 7 December. A total of 30 teams …
Central Banks
The exit is expected to take place by the end of Q1-2020
16 December 2019 11:07 AM National Bank of Oman exits Egypt
Mubasher: The National Bank of Oman (NBO), listed on the Muscat Securities Market (MSM), decided to exit from the Egypt market and shut down all its operations there.  The Omani bank has already obtained regulatory approvals to close its last …
Banking and Finance
Mohamed Okasha, Managing Director of Fawry
15 December 2019 03:18 PM Interview: Fawry will use blockchain technology – Mohamed Okasha
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Fawry has been in the Egyptian market for over a decade, and recently listed on the Egyptian Exchange (EGX). During this time, the leading e-payment network proved itself as an “enabler”, said …
Global Economy
MSC Bellissima will make 17 calls and spend 35 days in Dubai
11 December 2019 00:40 PM DP World, MSC Cruises ink long-term deal to promote tourism
Dubai – Mubahser: DP World has entered into a long-term agreement with MSC Cruises for preferential berthing rights at Mina Rashid in Dubai, strengthening the Geneva, Switzerland-based cruise line’s position as a top passenger cruise operator in …
Companies Investments
Booking for the new flights is available on Jazeera Airways’ website
4 December 2019 03:01 PM Jazeera Airways to start direct flights to Dammam, expands other connections
Mubasher: The leading economy airline in Kuwait Jazeera Airways announced a new flight service to Dammam in Saudi Arabia. Starting on 19 December this year, the flights will head to the capital of the Eastern Province three times a week; Tuesdays, …
The confirmation came in a statement to Boursa Kuwait
3 December 2019 10:26 AM Humaidi still committed to offer Ream Real Estate takeover
Mubasher: Abdullah Mohammed al Humaidi announced that he is committed to put forward an obligatory proposal to purchase all of Ream Real Estate Co’s shares by 1 March 2020 at most. The confirmation came in al Humaidi’s statement to Boursa Kuwait. …
28 November 2019 05:38 PM DAMAC Chairman’s private firm acquires Italy’s brand icon Roberto Cavalli
Dubai – Mubasher: Hussain Sajwani, the chairman of the Dubai-based DAMAC Properties has sealed a takeover deal of the Italian fashion group Roberto Cavalli SpA.
Global Reports
The solar complex was completed with 100% Saudisation rate in first year
27 November 2019 11:46 AM Acwa Power completes KSA’s first solar project
Riyadh – Mubasher: ACWA Power announced the successful connection of the Sakaka Solar PV Plant, Saudi Arabia’s first renewable energy project, to the national grid. The SAR 1.2 billion solar energy project has commenced initial production under a …
Companies Investments
NBK provides products and services through large network
26 November 2019 02:52 PM NBK becomes 1st bank in MENA to adopt 3D Secure 2.0 system
Mubasher: National Bank of Kuwait (NBK) has become the first bank in the Middle East and North Africa (MENA) region to adopt Visa’s 3D Secure 2.0, which provides merchants and issuers with a seamless way to authenticate cardholders for eCommerce …
Companies Investments
5G roaming speeds reach 500 Mbps
26 November 2019 10:52 AM Zain rolls out 1st 5G roaming service in MENA between Kuwait, KSA
Mubasher: Mobile Telecommunications (Zain) announced that its operations in Saudi Arabia and Kuwait have launched the first fifth-generation (5G) roaming service across the Middle East and North Africa (MENA) region. This move is aimed at …
Companies Investments