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The deals' impact will reflect on the income statement as of Q2-20
9 February 10:50 AM Integrated wins KWD 5m Qatari deal, inks KWD 7m contract with KOC
Mubasher: Integrated Logistics Qatar, a fully owned subsidiary of Integrated Holding Company, was awarded a contract by Qatar Petroleum (QP) to provide equipment services in Ras Laffan Port and other areas in Ras Laffan Industrial City. The …
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 …
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 …
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 …
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, …
The new station includes various eco-friendly features
8 January 04:34 PM Oman Oil Marketing Company launches sultanate’s 1st green service station
Mubasher: Oman Oil Marketing Company (OOMCO) has launched the sultanate’s first green service station, according to a statement released on Wednesday. Located in Rusayl in northeastern Oman, the new station includes various eco-friendly features, …
Aramco set the January price for butane at $590 per ton
31 December 2019 04:39 PM Saudi Aramco raises propane prices for January 2020
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has set the price for January propane shipments at $565 per ton, up from $440 in December. Meanwhile, Aramco set the January price for butane at $590 per ton, compared with $455 in …
Credit Agricole is still developing SMEs portfolio and getting some resources
18 December 2019 02:09 PM Antoine Paliard talks fintech innovation, startup contests – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Credit Agricole has chosen Infini Systems, an India-based startup, as the winner of the Fintech Hackathon 2019 during the RiseUp Summit, held in Cairo from 5 to 7 December. A total of 30 teams …
Mohamed Okasha, Managing Director of Fawry
15 December 2019 03:18 PM Interview: Fawry will use blockchain technology – Mohamed Okasha
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Fawry has been in the Egyptian market for over a decade, and recently listed on the Egyptian Exchange (EGX). During this time, the leading e-payment network proved itself as an “enabler”, said …
MSC Bellissima will make 17 calls and spend 35 days in Dubai
11 December 2019 00:40 PM DP World, MSC Cruises ink long-term deal to promote tourism
Dubai – Mubahser: DP World has entered into a long-term agreement with MSC Cruises for preferential berthing rights at Mina Rashid in Dubai, strengthening the Geneva, Switzerland-based cruise line’s position as a top passenger cruise operator in …
Booking for the new flights is available on Jazeera Airways’ website
4 December 2019 03:01 PM Jazeera Airways to start direct flights to Dammam, expands other connections
Mubasher: The leading economy airline in Kuwait Jazeera Airways announced a new flight service to Dammam in Saudi Arabia. Starting on 19 December this year, the flights will head to the capital of the Eastern Province three times a week; Tuesdays, …
The confirmation came in a statement to Boursa Kuwait
3 December 2019 10:26 AM Humaidi still committed to offer Ream Real Estate takeover
Mubasher: Abdullah Mohammed al Humaidi announced that he is committed to put forward an obligatory proposal to purchase all of Ream Real Estate Co’s shares by 1 March 2020 at most. The confirmation came in al Humaidi’s statement to Boursa Kuwait. …
KIB will manage QIIB’s $300 million sukuk issuance
2 December 2019 04:42 PM KIB named as manager of QIIB’s $300m sukuk issuance
Mubasher: Kuwait International Bank (KIB) was chosen to manage for Qatar International Islamic Bank’s (QIIB) Sukuk issuance, the first of its kind in Qatar, according to the Kuwaiti lender’s press release. KIB will manage QIIB’s $300 million …
28 November 2019 05:38 PM DAMAC Chairman’s private firm acquires Italy’s brand icon Roberto Cavalli
Dubai – Mubasher: Hussain Sajwani, the chairman of the Dubai-based DAMAC Properties has sealed a takeover deal of the Italian fashion group Roberto Cavalli SpA.
NBK provides products and services through large network
26 November 2019 02:52 PM NBK becomes 1st bank in MENA to adopt 3D Secure 2.0 system
Mubasher: National Bank of Kuwait (NBK) has become the first bank in the Middle East and North Africa (MENA) region to adopt Visa’s 3D Secure 2.0, which provides merchants and issuers with a seamless way to authenticate cardholders for eCommerce …
5G roaming speeds reach 500 Mbps
26 November 2019 10:52 AM Zain rolls out 1st 5G roaming service in MENA between Kuwait, KSA
Mubasher: Mobile Telecommunications (Zain) announced that its operations in Saudi Arabia and Kuwait have launched the first fifth-generation (5G) roaming service across the Middle East and North Africa (MENA) region. This move is aimed at …
Kuwait has a large pipeline of planned projects worth about $166 billion
25 November 2019 06:37 PM NBK eyes further diversification, digital transformation - Al Fulaij
Mubasher: Kuwait has successfully shielded itself against recent geopolitical tensions and lower global oil prices as the country’s gross domestic product (GDP) is still solid, the National Bank of Kuwait (NBK) – Kuwait’s CEO Salah Al Fulaij said. …
The bonds are valued at $500 million
21 November 2019 10:56 AM Ooredoo Group's unit to pay $9.38m interest payment in December
Abu Dhabi – Mubasher: Ooredoo Group said that its fully-owned subsidiary, Ooredoo International Finance Limited (OIFL), will pay an interest payment worth of $9.375 million for its Global Medium Term Note (GMTN) holders on 23 December 2019. The …
Blockchain enables completion of the transaction in a single day
20 November 2019 02:52 PM Oman Oil & Orpic Group, HSBC execute 1st blockchain transaction in Oman
Mubasher: Oman Oil & Orpic Group and HSBC Bank Oman have successfully executed the first blockchain trade finance transaction in Oman. The transaction included the shipment of polypropylene and a thermoplastic polymer to Abu Dhabi National Carpet …
The raise is subject to approvals from relevant regulators
17 November 2019 04:37 PM ADIB’s board proposes 40% higher limit on foreign ownership
Abu Dhabi - Mubasher: The board of Abu Dhabi Islamic Bank (ADIB) has submitted a recommendation to the shareholders’ general assembly to increase the maximum limit of non-UAE national's ownership of ADIB's shares to 40%.  Therefore, the clause No. …
By 2020, 150 Spot locations may be provided in KSA & the UAE
17 November 2019 00:00 PM Aramex expands delivery options via Aramex Spot in KSA, UAE
Dubai – Mubasher: Aramex has launched Aramex Spot, the latest last-mile delivery solution, in multiple locations across Saudi Arabi and the UAE, in collaboration with retail outlets to use their locations as convenient Pick-Up and Drop-Off (PUDO) …
The rating supports confidence in the bank
14 November 2019 02:38 PM S&P assigns ‘A’ credit rating to Boubyan Bank; Outlook stable
Mubasher: Standard and Poor’s rating agency has assigned ‘A’ long-term credit ratings to Boubyan Bank, with a stable outlook. The bank’s anchor and stand-alone credit profile (SACP) was assigned ‘bbb’ rating, according to a bourse statement …
Moody’s assigned Ba1 rating to Arabian Centres
8 November 2019 10:46 PM Moody’s assigns Ba2 rating to Arabian Centres’ dollar sukuk; Outlook stable
Riyadh – Mubasher: Moody’s Investors Service has assigned Ba1 corporate family rating to Arabian Centres Company, according to a statement released on Friday. The international rating agency assigned a Ba2 instrument rating to the benchmark sized …
Part of the signing ceremony
6 November 2019 11:01 AM Bahrain’s Investcorp partners with China Everbright Limited
Mubasher: Bahraini Investcorp and Hong Kong-based alternative investment firm China Everbright Limited have signed a partnership agreement to combine their investment teams in the Chinese technology sector. The combined team will jointly manage …