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27 September 12:45 AM

Gulf news

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54 minutes ago CI maintains ADCB rating at A; outlook stable
Abu Dhabi - Mubasher: Capital Intelligence Ratings (CI) has affirmed the financial strength rating (FSR) of Abu Dhabi Commercial Bank (ADCB) at 'A', according to a report issued on Tuesday. The ratings agency also maintained the bank’s foreign and …
Ratings
The Central Bank of Kuwait
3 hours ago Financial stability cannot be in place of reforms - CBK
Mubasher: The governor of the Central Bank of Kuwait (CBK) said on Tuesday that the stability of the local currency market is not adequate nor is it a replacement for much needed structural and economic reforms. Mohammad Al-Hashel said during his …
Macroeconomics
Photo Archive
3 hours ago Kuwaiti government saved KWD1bn in 16/17 - Minister
Kuwait - Mubasher: The Kuwaiti deputy Prime Minister and minister of finance, Anas Al-Saleh said on Tuesday that despite challenges facing the Kuwaiti economy, over KWD 1 billion ($3.27 billion) were saved in the government’s expenditure between …
Macroeconomics
The company now has a total licensed capacity of about 700 beds
26 September 06:48 PM NMC acquires 3 hospitals in KSA, obtains all approvals
Abu Dhabi- Mubasher: NMC Health announced on Monday that it has received all regulatory approvals for its long-term care facility, Chronic Care Specialty Medical Center (CCSMC), in Jeddah, KSA. CCSMC is believed to be one of the first Greenfield …
Merging and Acquisitions
he new tower will be built over 39,000 square feet
26 September 06:46 PM RAK Properties launches new project in Hayat Island
Abu Dhabi – Mubasher: RAK Properties on Tuesday announced the launching of its new North Bay Residence Tower project in Hayat Island. The new tower will be built over 39,000 square feet, the company said in a bourse statement, noting that the …
Companies Investments
He noted that the construction works will be completed within 870 days, according to the newspaper
26 September 06:39 PM SZHP launches AED 1bn bids – Official
Abu Dhabi – Mubasher: Sheikh Zayed Housing Programme (SZHP) plans to offer two bids to launch two projects in Dubai and Ras Al-Khaimah in the first half of next October. The two bids cost more than AED 1 billion and comprise 884 housing units, …
Companies Investments
The Central Bank of Kuwait
26 September 06:37 PM CBK issues KWD140m t- bonds
Kuwait - Mubasher: The Central Bank of Kuwait (CBK) announced on Tuesday issuing six-month treasury bonds worth KWD 140 million. CBK said that the return on the bonds amounted to 1.87%, and that it was oversubscribed by 5700%, with total demand …
Central Banks
Taqi also stressed that cancellations and defaulting rates are below 5%
26 September 06:08 PM DAMAC aims to reduce debt to $1.3bn - CFO
By: Amr Adel Dubai – Mubasher: DAMAC Properties aims at reducing the current debt level from $1.4 billion (AED 5.1 billion) to $1.3 billion (AED 4.7 billion) by the end of 2017. The debt volume is less than half of the equity, which affirms the …
Companies Investments
The delisting decision is due to the incapability of raising its capital to KWD 10 million
26 September 05:42 PM Kuwait Gypsum to consider delisting late October
Mubasher: Kuwait Gypsum Manufacturing and Trading will hold its board meeting on 27 October to discuss its withdrawal from Boursa Kuwait (Parallel Market). On 21 February, the board members approved the recommendation of delisting from the stock …
Management Decisions
The board decided not to acquire Sweets and Restaurants Zalatimo
26 September 05:33 PM Ajwan board nods to KWD 1.2m takeover deals
Mubasher: The board of Ajwan Gulf Real Estate approved acquiring two companies for a total of KWD 1.2 million. The real estate firm will acquire International Expertise Catering Co and a 70% stake in Emaar Food Group Co., according to a bourse …
Merging and Acquisitions
Alwaleed has topped the same list for nine years in a row
26 September 04:48 PM Alwaleed tops list for most influential Arabs
Riyadh - Mubasher: Prince Alwaleed bin Talal has been ranked number one in Middle East Magazine’s 2017 list of the World’s 50 Most Influential Arabs, for the ninth consecutive year. The chairman of Kingdom Holding Company (KHC) and Alwaleed …
Global Economy
Tadawul’s turnover increased to SAR 2.81 billion ($749 million) on Tuesday
26 September 04:38 PM TASI closes Tuesday higher; NOMU falls
Mubasher: The benchmark Tadawul All Share Index (TASI) of the Saudi Stock Exchange (Tadawul) closed Tuesday’s trading session 0.22% or 15.97 points higher at 7,240.1 points. Tadawul’s turnover increased to SAR 2.81 billion ($749 million) on …
Trading Activities
This investment aims to develop the purchased land plots in the coming five years
26 September 03:36 PM United Real Estate injects KWD 19.8m in Hessah Al Mubarak
Mubasher: The board members of United Real Estate agreed on investing in a property firm owning a number of land plots of various purposes among the Hessah Al Mubarak project. The participation in this investment accounts for 33.3% or KWD 19.8 …
Companies Investments
The main index went up 1.42% or 119.79 points to 8,569.26 points.
26 September 03:35 PM QSE closes Tuesday up 1.42%
Mubasher: The Qatar Stock Exchange (QSE) ended the Tuesday’s session in green, backed by the rise in all sectors. The main index went up 1.42% or 119.79 points to 8,569.26 points. The industrial sector topped the gainers with 2.53%, backed by the …
Trading Activities
If the index falls below 3,555 points, it will most likely reach 3,515 points then decline to 3,465 points, Diab explained
26 September 03:07 PM DFM falls 0.2% weighed by Emaar, Emirates NBD
By: Mahmoud Gamal Dubai – Mubasher: The Dubai Financial Market (DFM) closed in the red on Tuesday weighed by selling of some leading shares. The main index retreated by 0.23% or 8.37 points to 3561.05. The investment sector led losers, shedding …
Macroeconomics
Boursa Kuwait’s turnover shrank by 47.3% to KWD 15.15 million on Tuesday
26 September 03:03 PM Boursa Kuwait indices mixed at Tuesday close
By: Mohamad Farouk Mubasher: The indices of Boursa Kuwait closed Tuesday’s session with a mixed performance; the price index went down 0.04% or 2.82 points to close at 6,764.7 points. Meanwhile, both the weighted and Kuwait-15 indices gained 0.18% …
Trading Activities
The Abu Dhabi General Index (ADI) rose 0.07% or 3.16 points to 4,413.79 points.
26 September 02:47 PM ADX returns to green on Tuesday
By: Enas Bahgat Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Tuesday trading rising, after declining in three consecutive sessions. The Abu Dhabi General Index (ADI) rose 0.07% or 3.16 points to 4,413.79 points. ADX saw …
Stock Evaluations
Zain and Mobily continue to work on controlling costs
26 September 02:12 PM STC remains defensive pick as telecom earnings drop in Q3 – Report
Riyadh – Mubasher: Al Rajhi Capital on Tuesday said that the Saudi telecommunications sector is likely to witness a drop in earnings for the third quarter of 2017. Factors that lead to this decline include; longer than usual school holidays, …
Stock Evaluations
The existing offshore concession is being operated by ADMA-OPCO
26 September 01:31 PM Statoil in talks with ADNOC on stake in offshore oil
Abu Dhabi – Mubasher: Statoil is in discussions with Abu Dhabi National Oil Co (ADNOC) to join offshore production in Abu Dhabi, according to a Norwegian diplomatic dispatch published by Bloomberg. The Norwegian embassy confirmed in a statement …
Companies Investments
He revealed that the Water’s Edge was sold out in less than two days, noting that the project “appealed to investors”
26 September 01:18 PM Aldar to exhibit Yas Island projects in Riyadh
Abu Dhabi – Mubasher: Aldar Properties announced Tuesday that it will exhibit its Water’s Edge development, located in Yas Island Abu Dhabi, at the Restatex Cityscape Riyadh. The real estate event will be held in the Saudi capital from 27 to 30 …
Companies Investments
For shipments up to 300 kilograms in the UAE, the average rate will increase by 4.9%, DHL explained
26 September 01:09 PM DHL to hike delivery rates in MENA
Dubai – Mubasher: International logistics and delivery company DHL Express has announced that it will raise its annual rates in the Middle East and North Africa (MENA). This rise will be effective as of 1 January 2018, according to a company …
Management Decisions
The trading volumes reached 89.7 million shares, generating AED 135.1 million through 1788 transactions
26 September 01:00 PM Arabtec gains 1% to 2.9 in Tuesday’s morning
Dubai – Mubasher: Arabtec Holding’s stock leveled up 1.04% to AED 2.91 at 12:13 am UAE time in Dubai Financial Market (DFM), with a trading volume of 794.19 million shares, generating AED 2.3 million. Real estate sector saw 0.41% growth, leading …
Trading Activities
SIECO will export Wafrah's products to Iraq, Jordan, and North Africa.
26 September 12:27 PM Wafrah, SIECO sign 1Y distribution contract
Riyadh – Mubasher: Wafrah for Industry and Development on Monday signed a sales and distribution agreement with Saudi Industrial Export company (SIECO) to export its products to Iraq, Jordan, and North Africa. The agreement term is one year, …
Companies Investments
The price of Brent crude oil rose by 4%
26 September 12:08 PM Kuwait crude oil up 56 cents Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 56 cents to reach $54.06 per barrel (pb) on Monday compared to $53.50 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). The price of Brent crude oil …
Macroeconomics
This one-day event is held in partnership with the finance ministry
26 September 11:39 AM Kuwait hosts 9th Euromoney Kuwait Conference
Mubasher: The ninth installment of the Euromoney Kuwait Conference will start on Tuesday, under the theme of “Establishing New Kuwait”. This one-day event is held in partnership with the finance ministry, offering various discussions and debates …
Event