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moments ago Saudi Arabia leads OPEC+ to agree on more output cuts
Mubasher: OPEC+ agreed to adjust output target and redistribute production cuts between its members, Bloomberg reported on Friday.
The Main Market index went up by 56.32 points
45 minutes ago Boursa Kuwait’s indices see positive performance in week
Mubasher: The Boursa Kuwait’s indices grew in a week, as market capitalisation gained KWD 1.89 billion ($6.24 billion). The All-Share Market index increased by 110.08 points, or 1.86%, to 6,038.35 points, while Premier Market index rose by 136 …
The investment sector added 0.17%
56 minutes ago Bahrain Bourse rises over 20 pts in week
Mubasher: The Bahrain Bourse’s general index grew by 20.37 points, or 1.33%, to reach 1,547.31 points in a week. The investment sector added 0.17% and the services sector gained 0.66%, while the industrial sector stabilised. Trading volume …
Kuwaiti oil minister Khaled Al Fadel
2 hours ago Kuwait’s oil minister rebuffs reported OPEC agreement on supply cuts
Mubasher: Kuwaiti oil minister Khaled Al Fadel on Friday dismissed reports on an agreement among members of the Organization of the Petroleum Exporting Countries (OPEC) on cutting their collective supply by 500,000 barrels per day to 1.7 million …
4 hours ago Phoenix Group acquires Swiss Re’s UK unit for $4.3bn
Mubasher: Reinsurance company Swiss Re agreed to sell its UK subsidiary for pension giant Phoenix Group for GBP 3.25 billion in cash and shares.
Kuwaiti crude oil settled at $64.43 pb
5 hours ago Kuwaiti oil barrels settle 1.61% higher on Thursday
Mubasher: Kuwaiti crude oil surged by $1.61, settling at $64.43 per barrel (pb) on Thursday. This came after Kuwait barrels recorded $62.82 pb in the preceding session, Kuwait News Agency (KUNA) said, citing the Kuwait Petroleum Corporation (KPC). …
Novak met his Saudi counterpart Prince Abdulaziz bin Salman
11:53 AM Saudi-Russian trade exchange grows 54% in 9M–Novak
Riyadh – Mubasher: Saudi-Russian trade exchange grew by 53.8% over the first nine months of 2019 on the prior year, Russian energy minister Alexander Novak said. The volume of trade exchange between Saudi Arabia and Russia amounted to $1.2 billion …
10:35 AM Global food prices hit 2-year peak in November
Mubasher: Food prices worldwide surged in November, hitting their highest level since more than two years, mainly driven by meat and vegetable oil price increases.
5 December 07:53 PM Ten wild predictions that could change global economy in 2020
The KIA received 1.163 million passenger in November
5 December 06:14 PM Kuwait International Airport’s passenger traffic rises 10% in November
Mubasher: The number of passengers travelling through Kuwait International Airport (KIA) rose year-on-year by 10% in November, the Directorate General of Civil Aviation (DGCA) said on Thursday. Passengers travelling through the KIA amounted to …
5 December 05:42 PM Dubai, London, NY recognised 2019’s ‘Construction Mega Cities’ – GlobalData
The combined value of the project pipelines in those mega cities reaches $5.3 trillion
Saudi Capital Market Authority
5 December 05:23 PM CMA approves Anaam Holding capital reduction request
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Anaam International Holding Group’s request to reduce capital from SAR 196 million to SAR 15 million. The capital cut will reduce the number of shares from 19.6 million …
Photo Archive
5 December 05:14 PM Al Rajhi Capital discloses details on REIT IPO
Riyadh – Mubasher: Al Rajhi Capital announced that the subscription period for its real estate investment trust (Al Rajhi REIT) total asset value increase offering will begin on 12 December, until 18 December 2019. The initial public offering …
Saudi Stock Exchange
5 December 05:01 PM Tadawul resumes gains on Thursday
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Thursday’s trading session in the green zone, amidst the rise of major market sectors. The Tadawul All Share Index (TASI) added 0.44% or 34.31 points and closed at the level of 7,905.51 …
Al Deera's debts totalled KWD 12.82 million
5 December 04:55 PM Al Deera proposes KWD 12.8m debt settlement plan
Mubasher: Al Deera Holding’s board of directors on Thursday discussed a proposal to settle its due debts, which totalled KWD 12.82 million. The debt settlement was suggested to be carried out through the issuing of Al Deera shares, the company …
The tender is worth KWD 19.89 million
5 December 04:21 PM Combined Group wins $65.6m contract in UAE
Mubasher: Combined Group Contracting (CGC) was awarded tender worth AED 240.46 million (KWD 19.89 million) ($65.6 million), the company said on Thursday in a bourse filing. The tender is related to the construction of internal roads and …
City Centre Almaza has created about 40,000 direct and indirect jobs
5 December 04:14 PM Sahar Nasr inaugurates City Centre Almaza with $580m investments
By: Abdullah Bedeir Cairo – Mubasher: The Egyptian minister of investment and international cooperation Sahar Nasr and the UAE’s minister of climate change and environment Thani Al Zeyoudi on Thursday inaugurated City Centre Almaza with …
The UAE leads Saudi Arabia's trade partners in the region
5 December 04:08 PM KSA trade with Arab countries nears $29bn in 9M
Riyadh – Mubasher: Trade exchange between Saudi Arabia and other Arab countries registered marginal growth during the first nine months of 2019, increasing to 9.51% of Saudi total foreign trade from 9.48% in the same period last year. The …
New biogas and organic fertilisers will be built
5 December 03:45 PM NBK Egypt agrees with ILO to build biogas, fertilisers units
Cairo – Mubasher: National Bank of Kuwait – Egypt (NBKE) inked a cooperation deal with the International Labor Organization (ILO) and Bioenergy for Sustainable Rural Development to establish 60 new biogas and organic fertilisers units in the …
Majid Al Futtaim created about 7,500 direct jobs in Egypt
5 December 03:38 PM Majid Al Futtaim eyes raising investments in Egypt to EGP 44bn
By: Abdullah Bedeir Cairo – Mubasher: Majid Al Futtaim aims to increase its investments in Egypt to EGP 44 billion, the company’s CEO Alain G. Bejjani said. Egypt has received EGP 26 billion in investments from the UAE-based leading integrated …
he IPO was subscribed 1.27 times
5 December 03:00 PM Shamal Az Zour’s IPO subscribed 1.27 times; allotment concluded
Mubasher: Kuwait Authority for Partnership Projects (KAPP) announced the final results for Shamal Az Zour Al Oula Power and Water Company’s initial public offering (IPO), which was wrapped up on 29 November. The IPO was subscribed 1.27 times by …
The banking sector edged down 0.09%
5 December 02:19 PM ADX ends Thursday near stability
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index slipped 1.35 points, or 0.03%, at the end of Thursday’s session. Market capitalisation grew to AED 516.41 billion, compared to AED 516.10 billion in the previous …
Kuwait’s equities settled higher on Thursday
5 December 02:11 PM Boursa Kuwait ends Thursday in green
Mubasher: Kuwait’s equities settled higher on Thursday, having started the session with declines led by telecoms and bank stocks. The All-Share Market index shed 0.23%, or 13.6 points to 6,038.35 points, as the Premier Market and Main Market …
Sawiris owns 74.9% of Raiffeisen Touristik Group
5 December 02:11 PM Samih Sawiris acquires Thomas Cook’s German franchise network
Cairo – Mubasher: Raiffeisen Touristik Group, majority owned by the Egyptian billionaire Samih Sawiris, has acquired the German franchise network of Thomas Cook, Handelsblatt reported.  Sawiris owns 74.9% of Raiffeisen Touristik Group which …
The consumer staples sector shed 1.61%
5 December 02:11 PM DFM stabilises at Thursday’s close
Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index close near stability at the end of Thursday’s session, pressured by blue chips. The general index inched down 0.91 points, or 0.03%, to close at 2,694.71 points. Market …