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Kuwait Airways operated a flight to Beirut at 8:55 a.m. local time
25 March 12:00 PM Kuwait charters flights to evacuate citizens from 3 countries
Mubasher: Kuwait's Directorate General of Civil Aviation (DGCA) announced that three chartered flights to Egypt, Lebanon, and Bahrain will take off on Wednesday, 25 March, from the Kuwait International Airport to bring back Kuwaiti citizens. …
The new decision will support the company’s operation once the travel halt is lifted
23 March 09:37 AM Jazeera Airways cancels 2019 dividends amid COVID-19 uncertainties
Mubasher: The board of Jazeera Airways has cancelled the proposed cash dividends distribution and recommended not to distribute any dividends for the fiscal year (FY) ended on 31 December 2019 in an attempt to curb the fallout from the coronavirus …
Amin Nasser, President and CEO of Aramco - (Photo Archive)
22 March 01:08 PM Aramco closely monitoring coronavirus situation – CEO
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) is closely monitoring the situation of the coronavirus (COVID 19) outbreak on a daily basis, Saudi Press Agency (SPA) reported. Aramco has developed emergency and prevention plans …
Company's gas sale contracts not affected by fluctuating oil prices
22 March 09:56 AM Dana Gas operations remain stable despite COVID-19
Abu Dhabi - Mubasher: Dana Gas has confirmed that the coronavirus (COVID-19) outbreak has not impacted its exploration and production operations and facilities in the Kurdistan Region of Iraq (KRI) and Egypt.   Sold under long term gas sale …
Aramco enjoys the lowest oil production cost per barrel in the world
18 March 06:34 PM KSA orders Aramco to set output at 12.3m b/d
Riyadh – Mubasher: The Saudi Ministry of Energy has directed the Saudi Arabian Oil Company (Saudi Aramco) to continue to supply crude oil at a level of 12.3 million barrels per day (b/d) over the coming months, Saudi Press Agency (SPA) reported. …
The Bridge offers access to major European cities, including Paris and London
16 March 10:37 AM Investcorp takes over Coca-Cola Belgium HQ for EUR 88m
Mubasher: Investcorp announced that its European real estate business has acquired The Bridge, a single let office and research and development (R&D) asset in Brussels, from a wholly-owned subsidiary of the Coca-Cola Company for EUR 88 million …
Jazeera Airways' fleet includes 14 aircrafts
15 March 04:53 PM Jazeera Airways puts entire fleet at disposal of Kuwait
Mubasher: Jazeera Airways has placed its 14-aircraft fleet of at the disposal of the Kuwaiti government, as part of its national duty as the country faces the outbreak of the new coronavirus (COVID-19). The Gulf state can use the airline’s fleet …
The move helps efforts across the kingdom to limit the spread of the new coronavirus
15 March 02:17 PM stc employees to work remotely for two weeks
Riyadh – Mubasher: The Saudi Telecom Company (stc) announced that 3,000 employees will start working remotely as of Sunday for two weeks, in line with efforts to combat the spread of the new coronavirus (COVID-19). The initiative is also part of …
DXB Entertainments has closed its parks till the end of the month
15 March 10:30 AM DXB Entertainments halts operations over coronavirus fears
Dubai – Mubasher: DXB Entertainments has temporarily closed all its theme parks until 31 March to face the coronavirus (COVID-19) outbreak and re-evaluate the situation globally. The closure of the theme parks comes in line with the direction of …
The MSC is determined by the government as per the Hydrocarbons Law
11 March 11:07 AM Saudi energy ministry directs Aramco to raise oil output to 13m bpd
Riyadh – Mubasher: The Saudi Ministry of Energy directed the Saudi Arabian Oil Company (Saudi Aramco) to increase its maximum sustainable capacity (MSC) to 13 million barrels per day (bpd) from 12 million bpd. The MSC is determined by the …
Aramco will provide its customers with 12.3m bpd
10 March 12:52 PM Aramco to raise crude oil supply to 12.3m bpd in April
Riyadh – Mubasher: Saudi oil giant Aramco will increase its crude oil production by 300,000 million barrels per day (bpd) over the company’s maximum sustained capacity (MSC) of 12 million bpd.  Therefore, the company will provide its customers …
Dana Gas’ natural gas constitutes 75% of production
9 March 09:53 AM Natural gas accounts for 75% of Dana Gas’ production
Abu Dhabi – Mubasher: Dana Gas’ natural gas constitutes 75% of the company’s production, according to a press release on Monday. Sold at fixed prices under long term gas sale contracts with host governments, Dana Gas' natural gas generates half of …
A three-year deal between OPEC and Russia collapsed on Friday
8 March 01:39 PM Aramco cuts April crude oil prices as OPEC-Russia talks collapse
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) reduced its official selling price (OSP) for April for all its crude grades to all destinations following the collapse of OPEC’s oil output cut deal with Russia on Friday, according …
The board also proposed reducing operational capacity
5 March 11:02 AM Jazeera Airways plans lower dividends on coronavirus fears
Mubasher: The board of Jazeera Airways has lowered its recommended cash dividends to KWD 7 million or 35 fils per share, representing 35% of capital, down from a previous recommendation of 67.5%. The recommendation is due to the potential impact …
The bond was issued in May 2017
3 March 04:26 PM Fitch assigns BBB- rating to ACWA Power bonds
Riyadh – Mubasher: ACWA Power Investment and Management One Ltd. (APMI One) announced that Fitch Ratings has assigned a BBB- rating to its $814 million 5.95% senior secured bond, with a stable outlook. The bond, issued in May 2017 by ACWA Power’s …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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, …