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Local Economy

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1 December 01:03 PM Saudi Arabia's 1st Future Minerals Summit to kick off next month
Riyadh – Mubasher: Saudi Arabia will debut its first-ever Future Minerals Summit during 11-13 January 2022 in the capital Riyadh, the Ministry of Industry and Mineral Resources announced on Wednesday. A ministerial roundtable before the summit …
Global Economy
Photo Archive
30 November 03:10 PM No cases of Omicron variant detected in Egypt – Official
Cairo – Mubasher: Egypt has not registered any cases of the Omicron variant until the current times, Acting Minister of Health, Khaled Abdel Ghaffar, who is the Minister of Higher Education and Scientific Research, stated on Tuesday. Abdel Ghaffar …
Sector Reports
Photo Archive
28 November 02:17 PM Kuwait’s C.bank, CMA initiate campaign on crypto assets
Mubasher: The Central Bank of Kuwait (CBK) has collaborated with the Capital Markets Authority (CMA) to launch a joint financial literacy campaign on investing or dealing in crypto assets in the state, according to a press release on Sunday. …
Central Banks
Photo Archive
23 November 04:45 PM Saudi consumers plan more spending amid optimism over vaccine rollout – Report
Mubasher: Saudi Arabia’s consumers have been increasing their spending over the past months more than the global average, while 20% of Saudis intend to spend more on an ongoing basis post-pandemic, a report by AlixPartners unveiled on Tuesday. The …
Global Economy
Photo Archive
20 September 11:29 AM Saudi Arabia continues to be China’s top oil supplier in August
Riyadh – Mubasher: Saudi Arabia has retained its position as China's top crude oil supplier for the ninth month in a row during August, Reuters cited official data by China’s General Administration of Customs on Monday. Saudi oil exports to China …
Commodities
Photo Archive
16 September 04:56 PM Saudi oil exports hit six-month high in July
Riyadh – Mubasher: Saudi Arabia’s oil exports increased to 7.65 million barrels per day (bpd) in July, hitting the highest level in six months since recording 7.75 million bpd in January, according to official data on Thursday. The exports volume …
Sector Reports
Nihal El-Chami, Head of Programme and Marketing at Falak Startups
14 September 12:49 PM Startup Lounge: More VC investors now interested in Africa, Middle East – Nihal El-Chami
By: Marina Gamil Cairo – Mubasher: With the growing number of startups across different sectors, especially financial technology (FinTech), the dynamics of the venture capital (VC) landscape in Egypt have been changing with local and international …
Macroeconomics
Saudi Arabia set Arab Light OSP to Northwest Europe at a discount of $1.70/barrel
4 August 03:14 PM Aramco raises September crude official selling prices for Asia
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has increased the September official selling prices (OSPs) for its Arab light crude to $3 per barrel above the Oman/Dubai average for Asia, Reuters reported on Wednesday. The Kingdom has …
Commodities
The Hajj season this year will witness a digitised journey from start to finish
13 July 01:37 PM How pilgrims benefit from digitisation when performing Hajj
By: Ingy ElSafy Mubasher: The COVID-19 pandemic has brought technology-enhanced methods that help authorities implement social distancing to preserve the health of people. Saudi Arabia will provide a digital Hajj (Muslim pilgrimage) this year and …
Global Economy
GACA issued a circular to all airlines operating in Saudi Arabia
4 July 03:48 PM Saudi Arabia suspends flights to three destinations on COVID variant
Riyadh – Mubasher: Saudi Arabia’s General Authority of Civil Aviation (GACA) has suspended direct and indirect travel of citizens to the UAE, Ethiopia, and Vietnam without obtaining prior permission from the concerned authorities due to the …
Global Economy
Ahmed El-Alfi, Chairman of Sawari Ventures
22 June 04:46 PM Startup Lounge: Tech offers great opportunities for success – Interview with Ahmed El-Alfi
By: Moslem Ali Cairo - Mubasher: In the second instalment of our interview with the Founder and Chairman of Sawari Ventures, Ahmed El-Alfi, we discuss the future of technology and the opportunities of startups to succeed as technological …
Banking and Finance
Ahmed El-Alfi, Chairman of Sawari Ventures
21 June 01:01 PM Startup Lounge: High growth requires taking risks – Interview with Ahmed El-Alfi
By: Moslem Ali Cairo - Mubasher: Today’s guest in the Startup Lounge has played an integral role in developing the entrepreneurial scene in Egypt and the MENA region. He is one of the startup ecosystem leaders and investors who brought real …
Banking and Finance
SAMA has claimed the Global Impact Award 2021 for Aber
16 June 03:21 PM SAMA says Aber project achieves main objectives
Riyadh – Mubasher: The Saudi Central Bank (SAMA) said the digital currency project Aber has succeeded to achieve its main objectives that mainly include understanding, experiencing, and analysing the maturity of the distributed ledger technology …
Macroeconomics
Dubai Health Authority (DHA)
13 June 04:29 PM Dubai says 80% of new COVID-19 cases were unvaccinated
UAE – Mubasher: The Dubai Health Authority (DHA) has revealed that vaccines against the coronavirus (COVID-19) reduce the risk of disease and hospitalization. The health authority has called upon everyone to get the vaccine, noting that eight out …
Macroeconomics
Egyptian companies will also take part in the reconstruction efforts
18 May 03:46 PM Egypt allocates $500m for reconstruction efforts in Gaza
Cairo – Mubasher: President Abdel Fattah El-Sisi has ordered the allocation of $500 million as part of an Egyptian initiative for reconstructing the Gaza Strip, following Israeli air strikes. Egyptian companies will also take part in the …
Macroeconomics
Plastic waste often impact marine life, ecosystems, and food chains
30 April 03:46 PM Egypt could soon ban single-use plastics amid COVID-19
By: Moslem Ali Cairo – Mubasher: Plastic bags that are often used for an average of 25 minutes could take more than 20 years to decompose, while other single-use plastic products, according to the World Wildlife Fund (WWF), might need between 400 …
Macroeconomics
Noor Sweid, Founder and General Partner, Global Ventures
29 April 12:57 PM Startup Lounge: Health, edutech investments to flourish after pandemic – Noor Sweid
By: Ingy ElSafy Mubasher: The Middle East carries plenty of appeal for regional and international investors due to the favourable macroeconomic fundamentals that underpin these markets. Meanwhile, the sectors that have witnessed increased …
Global Economy
Egypt's Minister of International Cooperation, Rania El-Mashat
26 April 01:41 PM Egypt to build greener more inclusive economy after COVID - Rania El-Mashat
By: Moslem Ali and Ahmed Allam Cairo – Mubasher: Egypt was the only country in the region to achieve positive economic growth last year, despite the coronavirus (COVID-19) pandemic. Now, the country aims at taking the recovery as a chance to …
International Agreements
UN in 2015 led its member states to adopt the 2030 Agenda for Sustainable Development
22 April 12:06 PM Are MENA countries on track with achieving SDGs?
By: Ingy ElSafy Mubasher: The United Nations (UN) led its member states in 2015 to adopt the 2030 Agenda with 17 Sustainable Development Goals (SDGs) that include 169 specific targets, covering social, economic, and environmental dimensions, in …
Sector Reports
The currency will not replace cash and bank deposits
19 April 03:47 PM UK mulls creating new digital currency
Mubasher: The UK Treasury and Bank of England (BoE) announced the creation of a joint taskforce to explore a potential central bank digital currency (CBDC). The currency “would be a new form of digital money issued by the Bank of England and for …
Global Economy
Eng. Mohammed Al Ballaa, Chairman, Mubasher Financial Group
29 March 01:47 PM We aim at increasing investors in Arab markets - Mubasher Chairman
Riyadh – Mubasher: The Chairman of Mubasher Financial Group, Eng. Mohammed Al Ballaa, said on Monday that the use of financial technology (FinTech) has played a significant role in the success and growth of Mubasher companies. More than 10 years …
Macroeconomics
AFE Saudi Arabia 2021 will be held on 29-30 March
25 March 03:09 PM Saudi Arabia to host Arab Exchanges Federation Conference next week: Tadawul
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul), in partnership with the Arab Federation of Exchanges (AFE), is hosting the AFE Annual Conference Saudi Arabia 2021 from 29 to 30 March. The conference aims at creating a platform for …
Event
The 100 CEOs represent 24 nationalities and 21 sectors.
7 March 12:10 PM Forbes unveils “Top CEOs in the Middle East” ranking
Dubai - Mubasher: Forbes Middle East has released its first annual "Top CEOs in the Middle East" ranking, recognising the executives making significant contributions to the region's economies. The 100 CEOs represent 24 nationalities and 21 …
Global Economy
Photo Archive
3 March 01:49 PM S&P launches ratings for Saudi local currency debt
Riyadh – Mubasher: S&P Global Ratings said it is providing GCC National Scale Ratings for entities in Saudi Arabia issuing local currency debt, Reuters reported on Wednesday. Over the past few years, Saudi Arabia, the GCC region’s largest economy, …
Currencies
Abu Dhabi National Oil Company (ADNOC) - (Photo Archive)
2 March 12:34 PM ADNOC to ease output cuts in April
Mubasher: Abu Dhabi National Oil Company (ADNOC) is expected to increase crude shipments next month, Reuters reported, citing Asian refiners. ADNOC reportedly plans to ease output cuts by 5% in April, compared with curbs of 10-15% in March. On …
Macroeconomics