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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 exclusivity period for the MoU is valid until 30 April
28 December 2020 03:37 PM Ooredoo inks exclusive, non-legally binding MoU with CK Hutchison
Mubasher: National Mobile Telecommunications Company (Ooredoo) has signed an exclusive and non-legally binding Memorandum of Understanding (MoU) with CK Hutchison Holdings Limited. Under the agreement, a potential transaction will be conducted to …
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 …
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 …
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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 …
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 …
Abdulaziz Yacoub Al Babtain is the new CEO of Ooredoo Kuwait
19 August 2020 03:21 PM Ooredoo appoints new CEO for Ooredoo Kuwait
Mubasher: National Mobile Telecommunications Company (Ooredoo) has appointed Abdulaziz Yacoub Al Babtain as the new CEO of Ooredoo Kuwait, according to the company's disclosure to the Abu Dhabi Securities Exchange (ADX) on Wednesday. With over …
Orascom was eyeing a stake in Bawabet Al Sharq Al Qahira Al Guedida
5 August 2020 00:30 PM Orascom Investment announces end of talks with Qatari Diar
Cairo – Mubasher: Orascom Investment Holding (OIH) announced the end of negotiations with Qatari Diar Real Estate Investment Company and Bawabet Al Sharq Misr For Real Estate Development. Orascom was eyeing the acquisition of a stake in Bawabet Al …
The Chicago properties are spread across nearly 700,000 square feet
14 July 2020 00:19 PM Investcorp exits $200m industrial real estate portfolio in US
Mubasher: Investcorp has sold a portfolio of industrial real estate properties located in the Boston and Chicago metropolitan areas in the US, through two separate transactions at a combined value of more than $200 million. Investcorp acquired the …
Aramco will decrease the August Arab Heavy crude supplies by about 10%
13 July 2020 10:44 AM Aramco slashes August heavy crude supplies to six Asian buyers
Riyadh - Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) will slash its August-loading shipments of medium and heavy crude grades to at least six Asian buyers, Reuters reported on Monday citing sources familiar with the matter. Buyers in …
Aramco raised August prices to all markets
6 July 2020 11:04 AM Saudi Aramco raises August oil prices
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has raised the August official selling prices (OSP) for its Arab light crude oil sold to all markets, Reuters reported on Monday. The oil giant set the August OSP for Asian customers …
The price for Octane 91 has been set at SAR 0.98 per litre
1 July 2020 10:45 AM Saudi Aramco adjusts fuel prices after latest VAT hike
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has adjusted the local fuel prices after the decision to increase the value-added tax (VAT) to 15% came into effect on Wednesday.     The oil giant has set the prices for the Octane …
Four refiners had smaller cuts in July when compared with June
15 June 2020 11:19 AM Saudi Aramco decreases July crude supplies to 5 Asia buyers
Riyadh - Mubasher: Saudi Aramco has reportedly decreased the July crude volume that it will supply to at least five Asian buyers, Reuters reported on Monday citing multiple sources. The reductions were primarily made for the medium and heavy …
Butane prices for June have been reduced to $330 a tonne
31 May 2020 01:21 PM Saudi Aramco raises propane price for June, lowers Butane
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has increased the price of its propane futures for June delivery to $350 a tonne from $340 in May, a pricing document reported by Reuters showed on Sunday. Butane prices for June have …
Saudi oil production in June is seen at 7.492 million b/d
11 May 2020 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 …