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10 August 08:52 AM

Gulf news

Egypt's Minister of International Cooperation, Rania El-Mashat
9 August 05:54 PM Egypt launches first platform for closing the gender gap accelerator
Cairo – Mubasher: The Egyptian Ministry of International Cooperation and the National Council for Women with the World Economic Forum hosted the first multi-stakeholder platform on “Closing the Gender Gap Accelerator”, the first in Africa and MENA …
Macroeconomics
The joined members can now provide brokerage services for derivatives trading
9 August 05:11 PM Tadawul welcomes five members to derivatives market
Riyadh - Mubasher: The first group of the derivatives exchange members has joined the Saudi Stock Exchange’s (Tadawul) derivatives market after completing all necessary regulatory and technical requirements and procedures. The list includes NCB …
Markets Regulations
The agreement comes in line with Dubai Tourism's objective
9 August 04:59 PM Dubai Tourism partners with Microsoft for cloud solutions
UAE – Mubasher: Dubai’s Department of Tourism and Commerce Marketing (Dubai Tourism) has signed an agreement with Microsoft to provide cloud technology solutions to stakeholders and present Dubai as a must-visit destination. Under the partnership, …
Sector Reports
A total of 282.12 million shares were traded on Sunday
9 August 04:50 PM Tadawul ends Sunday's session in green for sixth day
Riyadh – Mubasher: The Tadawul All Share Index (TASI), the main index of the Saudi Stock Exchange (Tadawul), closed Sunday higher by 0.40% or 30.34 points, backed by three gaining sectors. The index settled at the level of 7,530.31 points and …
Trading Activities
Photo Archive
9 August 04:21 PM Saudi Cable reschedules more than SAR 180m facility
Riyadh – Mubasher: Saudi Cable Company (SCC) sealed on Sunday an agreement with a noncommercial creditor to reschedule a material supply facility offered by Noble Resources International. The total value of the credit facility is SAR 180.78 …
Banking and Finance
The loss per share settled at OMR 0.018
9 August 04:04 PM Oman & Emirates Investment Holding logs OMR 2m in H1-20
Mubasher: Oman & Emirates Investment Holding Company (OEIHC) has incurred OMR 2.166 million net losses attributable to the owners of the parent during the first six months of 2020, against net profits of OMR 374,132 in the same period of 2019. The …
Financial Results
The Saudi firm recorded the highest dividend payout ratio in the past 12 months
9 August 04:02 PM Arriyadh Development ranks 1st amongst Tadawul-listed real estate developers
Riyadh – Mubasher: Arriyadh Development Company held the first spot among real estate developers listed on the Saudi Stock Exchange (Tadawul) as per the evaluation issued by Bloomberg L.P. on 20 July 2020. The Saudi firm generated the highest …
Real estate
The UAE has attracted international brands - (Photo Archive)
9 August 03:34 PM UAE attracts 1,047 trademarks in July
UAE - Mubasher: The UAE has registered 1,047 trademarks during July 2020, reflecting the sector's continuous growth and the country's leading position as a regional business centre, according to the Emirates News Agency (WAM). Last month, the UAE …
Macroeconomics
The UAE reported a death case
9 August 02:32 PM UAE registers 225 new COVID-19 cases
UAE – Mubasher: The UAE Ministry of Health announced on Sunday 225 new coronavirus (COVID-19) cases to raise the total number of cases to 62,525. The UAE has conducted 61,544 tests to detect new cases. Meanwhile, the total number of recovered …
Photo Archive
9 August 02:23 PM Elm signs agreement to acquire Tabadul’s entire shares from PIF
Riyadh – Mubasher: Al Elm Information Security Company (Elm) has signed a share purchase agreement to take over the entire shares of the Saudi Company for Exchanging Digital Information (Tabadul) from the Public Investment Fund (PIF), in a step to …
Companies Investments
Traded volumes registered 196.43 million shares
9 August 02:21 PM Boursa Kuwait ends Sunday in gains
Mubasher: Boursa Kuwait closed Sunday’s trading session in green, as the all-share and premiere market indices added 0.39% and 0.51%, while the main and BK main 50 indices added 0.06% and 0.34%, respectively. Traded volumes increased by 31% on a …
Trading Activities
The market cap decreased by about AED 4.72bn
9 August 02:17 PM ADX closes Sunday in red
Abu Dhabi – Mubasher: The main index of the Abu Dhabi Securities Exchange (ADX) ended Sunday's trading session in the red zone after losing 0.64% or 28.10 points to stand at 4,331.49 points. Turnover amounted to AED 69.99 million after 52.33 …
Trading Activities
The real estate sector led the losers
9 August 02:02 PM DFM loses 14 pts on Sunday
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) went down by 0.66% or 14.01 points to settle at 2,093.63 points by the end of Sunday's trading session, reversing the upward performance on Thursday, 6 August. A total …
Trading Activities
Central Bank of Kuwait
9 August 01:43 PM Kuwait’s foreign reserves up 21% in June
Mubasher: Kuwait’s foreign reserves increased by 20.99% during June, maintaining an upward trend for the third consecutive month, according to the monthly bulletin data by the Central Bank of Kuwait (CBK). The reserve assets amounted to KWD 13.92 …
Macroeconomics
The deal could have a positive impact on Saudi Re’s sales and financials
9 August 01:43 PM Saudi Re signs exclusive reinsurer deal with Malath
Riyadh – Mubasher: Saudi Re for Cooperative Reinsurance Company has signed an exclusive agreement with Malath Cooperative Insurance Company to provide reinsurance coverage on the Inherent Defects Coinsurance Programme managed by Malath on behalf …
Companies Investments
The measures will be effective until 31 December 2021
9 August 01:40 PM CBUAE announces more measures in economic support scheme
UAE - Mubasher: The board of the Central Bank of the UAE (CBUAE) has added more measures in the Targeted Economic Support Scheme (TESS) to enable the banking sector to support the economy amid coronavirus (COVID-19). Under the new measures, the …
Banking and Finance
Photo Archive
9 August 12:59 PM Saudi Aramco sees biggest single day crude production in April
Riyadh - Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has achieved its highest single-day crude oil production of 12.1 million barrels on 2 April 2020. The oil giant continues to expand its gas business to meet future global and domestic …
Companies Investments
Dar Al Takaful acts as the holding company
9 August 12:22 PM Dar Al Takaful appoints new CEO after acquiring Noor Takaful
Dubai – Mubasher: Dar Al Takaful has completed the acquisition of Noor Takaful and appointed Rajesh Sethi as a new CEO of the newly formed joint entities, according to a press release on Sunday. With a 30-year experience in the banking, investment …
Mergers and Acquisitions
The reoffering process will take place from 11 to 12 August
9 August 11:43 AM Tihama’s rights issue 86.78% subscribed
Riyadh – Mubasher: Tihama Advertising and Public Relations Company on Sunday said a total of 8.677.641 million shares of the newly offered shares have been subscribed at a value of SAR 86.776 million. The company’s rights issue was subscribed by …
Companies Investments
The company completed a three-year strategic plan
9 August 11:38 AM Union Properties to launch 'Motor City' project in 2021
Dubai – Mubasher: Union Properties will launch a new project 'Motor City Hills' during the first quarter (Q1) of 2021, according to the company's disclosure to Dubai Financial Market (DFM) on Sunday. The project is part of the company's three-year …
Companies Investments
One of the companies will specialise in medical supplies and equipment
9 August 11:20 AM National Building to set up three new firms in Riyadh
Riyadh – Mubasher: The National Building and Marketing Company has begun procedures to establish three closed joint-stock companies based in Riyadh that operate in the fields of education, information technology, and medical supplies. The first …
Board of Directors
ADSB has transferred 105.91m of its shares to Edge
9 August 11:00 AM Abu Dhabi Ship Building transfers 106m shares to Edge
Abu Dhabi – Mubasher: Abu Dhabi Ship Building (ADSB) has transferred 105.91 million of its shares registered in the name of Emirates Defence Industries Company to Edge Platforms and Defense Systems. The transfer of the shares to Edge, an advanced …
Companies Investments
Revenues shrank by 57.03% in Q2-20
9 August 10:38 AM Saudi Aramco’s profits down 73% in Q2; dividends approved
Riyadh - Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) gained SAR 24.62 billion in net profits during the second quarter (Q2) of 2020, down by 73.41% from SAR 92.59 billion in the corresponding quarter a year earlier. The decrease in …
Financial Results
Al Yafei occupied several leadership roles
9 August 10:35 AM TAQA appoints new CEO for unit
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) has appointed Afif Saif Al Yafei as a new CEO for its subsidiary Abu Dhabi Transmission and Despatch Company (TRANSCO). Al Yafei occupied several roles, including executive vice …
Board of Directors
The portfolio comprises 7 schools located in Riyadh, Jeddah, Yanbu, and AlKhobar
9 August 10:19 AM Al Khaleej Training inks MoU with Alkhabeer Capital to acquire firms
Riyadh – Mubasher: Al Khaleej Training and Education Company signed a non-binding Memorandum of understanding (MoU) with Alkhabeer Capital to acquire a portfolio of educational firms owned by private funds managed by Alkhabeer. In case a final …
Mergers and Acquisitions