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BeIN Sports shall return all financial gains it obtained as a result of the violation
14 July 04:09 PM KSA imposes SAR 10m fine on BeIN Sports; terminates licence permanently
Riyadh - Mubasher: Investigations conducted by the Saudi General Authority for Competition (GAC) against BeIN Sports indicated that the channel had abused its dominant position and committed several monopolistic practices related to potential …
Muqassa aims to support the growth of the Saudi capital market
14 July 11:45 AM Muqassa to commence operations on 30 August
Riyadh - Mubasher: The Securities Clearing Center Company (Muqassa) will begin its operations on 30 August 2020 after its establishment in 2018 and its licence earlier this year. Muqassa aims to support the growth of the Saudi capital market …
The launch will further develop the Saudi market
14 July 10:21 AM Tadawul to launch derivatives market in August
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) will launch the Derivatives Market on 30 August 2020 to start trading of the kingdom's first exchange-traded derivatives product. The launch is an important step to develop the Saudi market. …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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 …
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, …
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 …
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 …
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 …
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. …
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 …
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. …
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 …
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 …
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 …
Photo Archive
28 February 09:00 PM Egypt raises natural gas transport tariff
Cairo – Mubasher: Egypt’s gas market activities regulatory authority announced the new tariff for transporting natural gas through the national natural gas grid. The authority, chaired by Minister of Petroleum and Mineral Resources Tarek El Molla, …