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The new investment will accelerate Ageras’ expansion into existing growth markets.
23 February 10:02 AM Investcorp’s portfolio company Ageras raises $73 million in new capital
Mubasher: Leading European technology investor, Investcorp Technology Partners, said its portfolio company, Ageras Group, has raised $73 million from Lugard Road Capital, the US-based alternative asset manager. The new investment will accelerate …
The rating captures STC’s commitment to adopt the best responsible and sustainable business practices.
14 February 03:17 PM STC ranked first in GCC on Dow Jones Sustainability Index
Riyadh – Mubasher: Saudi Telecom Company (stc) headed all telecom companies in the GCC region in terms of sustainability as per the Dow Jones Sustainability Index (DJSI). The company also ranked the second amongst all companies operating in Saudi …
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 …
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 …
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 …
The global CRO market is growing at approximately 10% per annum.
14 December 2020 11:59 AM Investcorp takes over Denmark-based Sanos Group
Mubasher: Investcorp has acquired Denmark-based Sanos Group, a leading provider of specialised clinical trial services to the global pharmaceutical and biotechnology industry. Sanos is a global Contract Research Organisation (CRO) providing …
The sale transaction is expected to close in the first quarter of 2021.
8 December 2020 02:00 PM Investcorp sells Avira to NortonLifeLock for $360m
Mubasher: Investcorp has entered into a definitive agreement to sell Avira to NortonLifeLock, a global leader in consumer Cyber Safety, for about $360 million. The transaction is expected to close in the first quarter (Q1) of 2021, subject to …
Aramco has set the January OSP of its Arab light crude oil to the US at plus $0.55 a barrel over ASCI.
6 December 2020 01:59 PM Saudi Aramco raises official January crude price to Asia
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has increased the January price for its Arab light crude to Asia to $0.30 a barrel over Oman/Dubai crude, up $0.80 from December, Reuters said on Sunday citing a company document. The …
The transaction is expected to close in the third quarter of 2021.
2 December 2020 03:42 PM Legal Advisors, Baker McKenzie advise on gig’s acquisition of AXA's Mideast business for $474.8m
Riyadh – Mubasher: Legal Advisors, Abdulaziz Alajlan & Partners alongside Baker McKenzie have advised Gulf Insurance Group (gig) on the acquisition of AXA’s insurance operations in the Gulf region for a value of $474.75 million. Under the terms of …
Kuwait's Gulf Insurance will acquire 100% of AXA Gulf
30 November 2020 01:45 PM Kuwait's Gulf Insurance to acquire AXA's operations in Gulf for $475m
Mubasher: Gulf Insurance Group (GIG) will acquire French insurer AXA Group's operations in the Gulf region and the share of Yusuf Bin Ahmed Kanoo (YBA Kanoo) in AXA Gulf for $474.75 million. Under the agreement, Kuwait's Gulf Insurance will …
ABAX was acquired by Investcorp in 2017.
16 November 2020 00:08 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 …
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15 November 2020 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 …
The lender’s total assets reached $26.91 billion by end of September 2020.
10 November 2020 00:13 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 group's income from operations declined to OMR 939,000
8 November 2020 00:27 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 …
The company's revenues decreased by 1.81%
5 November 2020 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 …
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3 November 2020 02:20 PM Muscat Gases posts 26.6% lower profit in 9M
Mubasher: The Muscat Gases Company (MGC), listed on the Muscat Stock Exchange (MSM), witnessed a decrease in its profits during the first nine months of 2020 by 26.6% year-on-year (YoY). The company’s preliminary financial results showed that it …
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25 October 2020 01:21 PM FAB is region's safest bank in 2020 - Global Finance
UAE – Mubasher: Global Finance has announced its 29th annual ranking of the World’s 50 Safest Banks for this year. The UAE's First Abu Dhabi Bank (FAB) secured the first spot regionally and the 32nd spot globally in Global Finance' ranking, …
The final Forbes list is composed of 750 multinational and large corporations headquartered in 45 countries.
19 October 2020 01:15 PM Saudi Aramco ranked 1st regionally in Forbes "World's Best Employers" list; 26th globally
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has secured the first spot regionally and the 26th spot globally on Forbes’ fourth-annual list of the World’s Best Employers for 2020. Forbes said it partnered with market research …
The company will be able to fulfill various investment objectives
4 October 2020 11:37 AM BH Mubasher obtains Investment Management license from SCA
Dubai – Mubasher: BH Mubasher, a leading company in the UAE’s financial market, has obtained an Investment Management license from the Securities and Commodities Authority (SCA). Through the license, the company will be able to fulfill various …
A total of 40 tonnes of high-grade blue ammonia were dispatched to Japan
27 September 2020 02:15 PM Saudi Aramco, Japan’s IEEJ ship world’s first blue ammonia
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) and Japan’s Institute of Energy Economics(IEEJ), in partnership with the Saudi Basic Industries Corporation (SABIC), demonstrated the production and shipment of blue ammonia from …
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6 September 2020 10:21 AM Saudi Aramco cuts October Arab light crude price to Asia
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) slashed the October official selling prices (OSPs) for the Arab light crude it sells to Asia by $1.40 a barrel, to 50 cents a barrel below the Oman/Dubai average, Reuters recently …
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31 August 2020 00:41 PM National Gas expects no impact on its Saudi operations after JV cancellation
Mubasher: Oman-based National Gas said it expects no negative effects on the company’s current core operations in Saudi Arabia after its proposed joint venture (JV) with the Tadawul-listed National Gas and Industrialization Company (GASCO) was …
DFM has approved BH Mubasher as a Market Maker
30 August 2020 04:50 PM DFM approves BH Mubasher as Market Maker
Dubai – Mubasher: The Dubai Financial Market (DFM) has approved BH Mubasher, a leading company in the UAE’s financial market, as a Market Maker. The move authorises BH Mubasher to provide liquidity to companies listed on the DFM, according to the …
The decision will have no financial impact on the company’s results
30 August 2020 11:19 AM GASCO cancels gas extension investment plan with Omani firm
Riyadh – Mubasher: National Gas and Industrialization Company (GASCO), listed on the Saudi Stock Exchange (Tadawul), announced that its board of directors decided not to proceed with plans with Oman-based National Gas to invest in a new gas …
The loss per share settled at OMR 0.018
9 August 2020 04:04 PM Oman & Emirates Investment Holding logs OMR 2m in H1-20
Mubasher: Oman & Emirates Investment Holding Company (OEIHC) has incurred OMR 2.166 million net losses attributable to the owners of the parent during the first six months of 2020, against net profits of OMR 374,132 in the same period of 2019. The …