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24 November 03:50 PM

Gulf news

Groceries, healthcare, apparel, and banking have seen the highest surge of online activity.
22 minutes ago 77% of Saudi consumers shop more online since pandemic began, shows study
Riyadh – Mubasher: A Mastercard study has revealed the exponential growth of online shopping, with nearly three out of four Saudi consumers shopping more online than they did before the pandemic. The study provides insights into how shoppers are …
Macroeconomics
The project includes the installation of 4,500 solar panels
30 minutes ago Al Ghurair Group partners with SirajPower to establish solar power systems
UAE - Mubasher: The UAE's SirajPower has signed a cooperation agreement with Al Ghurair Group to establish solar power systems in the group's facilities and establishments in the UAE. In the first phase of the project, SirajPower will design, …
Companies Investments
1 hour ago Elon Musk becomes world's second-richest person
Elon Musk has officially overtaken Bill Gates to become the world's second-richest person.
Global Reports
The board plans to expand its investment portfolio
1 hour ago Aman's board agrees on three-year growth plan
Dubai – Mubasher: The board of Dubai Islamic Insurance and Reinsurance Company (Aman) has approved a three-year growth plan to strengthen the company's financial position by focusing on operational expansion and investment performance. Under the …
Board of Directors
Gulf Navigation Holding posted the highest trading volume
2 hours ago DFM up on Tuesday; ADX down
UAE – Mubasher: The UAE stock markets have ended Tuesday's trading session on a varied note. The benchmark index of the Dubai Financial Market (DFM) rose by 1.92% to settle at 2,399.50 points by the end of Tuesday's trading session. A total …
Trading Activities
The Sukuk was oversubscribed 5.7 times
2 hours ago DIB lists $1bn Sukuk on Nasdaq Dubai
Dubai – Mubasher: Dubai Islamic Bank (DIB) has celebrated the listing of a $1 billion Sukuk on Nasdaq Dubai, according to a press release on Tuesday. With a profit rate of 4.625% per annum, the Sukuk was oversubscribed 5.7 times for attracting …
Banking and Finance
Jadwa acquired a stake in UEMedical in 2016.
2 hours ago Saudi Jadwa appoints HSBC to advise on exiting UEMedical
Riyadh – Mubasher: Saudi Arabia’s Jadwa Investment's private equity arm has hired HSBC to advise on the sale of its stake in Abu Dhabi healthcare group United Eastern Medical Services (UEMedical), Reuters reported on Tuesday citing two sources …
Mergers and Acquisitions
The agreement reinforces the airline's relations with CFM
3 hours ago Air Arabia signs nine-year agreement for LEAP-1A-powered aircraft
Dubai – Mubasher: Air Arabia has inked a comprehensive nine-year agreement with CFM International, which will provide time and material support to the airline’s fleet of six LEAP-1A-powered A321neo aircraft. The agreement reinforces the airline's …
Companies Investments
Over 73% of UAE consumers are shopping more online for groceries
3 hours ago UAE records surge in online shopping amid COVID-19
UAE - Mubasher: A total of 73% of UAE consumers has started to shop more online since the beginning of the coronavirus (COVID-19) pandemic, according to a Mastercard study. The study referred that the e-commerce sector in the UAE has witnessed …
Macroeconomics
Photo Archive
3 hours ago Makkah court orders SAR 2.2bn for State Properties General Authority
Riyadh – Mubasher: Makkah General Court has issued a ruling of SAR 2.2 billion in favour of the State Properties General Authority (SPGA) after the latter had paid the amounts for the confiscation of two real estate properties in Makkah.   …
Real estate
The move comes in continuation of SAMA’s efforts to enhance the FinTech sector.
4 hours ago SAMA licences three FinTech companies as payment institutions
Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) has licenced three financial technology (FinTech) companies as Payment Institutions (PI), bringing the total number of licenced companies to 11. Skyband and Foodics have been licenced …
Central Banks
Both companies will cooperate in mixing VLSFO with Neutral Fuels biofuel
4 hours ago Uniper Energy, Neutral Fuel collaborate to deliver maritime fuel in Fujairah
UAE - Mubasher: Uniper Energy DMCC (UED) and Neutral Fuel in Dubai have announced their collaboration to provide Fujairah in the UAE with maritime biofuel. The UED's businesses focus on supplying very low sulfur fuel oil (VLSFO), while Neutral …
Companies Investments
Photo Archive
4 hours ago Saudi Aramco's customers unaffected by Houthi attack on Jeddah facility
Riyadh – Mubasher: An official from the Saudi Arabian Oil Company (Saudi Aramco) said that customers were unaffected by an attack that came from Yemen's Houthi group at a petroleum products distribution plant in the north of Jeddah, Reuters …
Cairo Metro Line 4 will be constructed as a new underground line
5 hours ago Orascom Construction's consortium signs $800m contract for Cairo Metro Line 4
Mubasher: Orascom Construction PLC's consortium with Mitsubishi Corporation has inked an $800 million contract with Egypt's National Authority for Tunnels (NAT). Under the contract, the consortium will implement the railway systems, track and …
Companies Investments
Part of the contract signing ceremony.
5 hours ago IMC partners with InterSystems, adds digital services
Riyadh – Mubasher: The International Medical Center (IMC) penned a strategic partnership with creative data technology provider InterSystems to implement InterSystems TrakCare® electronic medical record system across its hospital and clinics in …
Companies Investments
The assets of UAE banks rose by 3.2% QoQ in Q3-20
10:04 AM UAE's listed banks record highest growth in assets in GCC in Q3-20
UAE - Mubasher: The listed banks in the UAE achieved the highest quarter-on-quarter (QoQ) growth in assets across the GCC countries during the third quarter (Q3) of 2020, according to a report published by Kamco Invest. The assets of UAE banks, …
Banking and Finance
The sale of the project includes an initial payment of 10%
09:34 AM Deyaar awards AED 370m construction contract
Dubai – Mubasher: Deyaar Development has awarded a AED 370 million contract to the primary contractor Gammon & Billimoria to construct the third and fourth phase within Midtown community. Phase three named 'Noor District' was opened for sale, and …
Companies Investments
Photo Archive
09:22 AM Sadara Chemical fulfils lenders’ conditions for project completion date
Riyadh – Mubasher: Sadara Basic Services Company said that its parent company, Sadara Chemical Company (Sadara), has fulfilled the conditions specified by the lenders to achieve the Project Completion Date (PCD) of Sadara project. The PCD is a key …
Companies Investments
Photo Archive
08:51 AM Saudi Amiantit sells investments in Morocco
Riyadh - Mubasher: ​Saudi Arabian Amiantit Company on 23 November 2020 signed two agreements to sell its investments in Morocco. The Saudi firm has sold its entire 50% stake in Amitech Morocco for EUR 2.7 million (SAR 12.03 million), achieving net …
Companies Investments
The materials sector led the risers with 0.67%
23 November 04:54 PM TASI ends Monday on positive note
Riyadh - Mubasher: The Tadawul All Share Index (TASI) went up by 0.26% or 22.67 points to end Monday's trading session at 8,610.84 points. The materials sector led the risers with 0.67%, while the telecommunication services segment topped the …
Trading Activities
The 16-week programme was created by Nawah
23 November 04:00 PM Nawah celebrates first Emiratis' graduation from Barakah Plant Certification programme
UAE - Mubasher: Nawah Energy Company (Nawah) has celebrated the graduation of the first UAE National leaders from its Barakah Nuclear Energy Plant Management Certification programme. The graduates comprise seven Emiratis approved by the Nawah …
Event
23 November 03:49 PM AstraZeneca-Oxford COVID-19 vaccine can be 90% effective
Mubasher: The UK’s pharmaceutical giant AstraZeneca announced that its coronavirus (COVID-19) vaccine could be about 90% effective.
Global Reports
The terminal will tackle the shortage of storage facilities
23 November 03:42 PM AquaChemie to construct AED 150m petrochemical terminal in Jebel Ali Port
UAE – Mubasher: AquaChemie Middle East, a part of the UAE-based AquaChemie Group, has laid the foundation stone for its AED 150 million ($40 million) petrochemical terminal in DP World’s Jebel Ali Port in Dubai. The project of AquaChemie Middle …
Companies Investments
The benchmark index of the DFM rose by around 1.27%
23 November 02:40 PM UAE stock markets maintain upward performance on Monday
UAE - Mubasher: The UAE stock markets have maintained their upward performance by the end of Monday's trading session. The benchmark index of the Dubai Financial Market (DFM) rose by around 1.27% to end Monday's trading session at 2,354.24 points. …
Trading Activities
The ministry has conducted 81,558 additional COVID-19 tests
23 November 01:54 PM UAE registers 1,065 new COVID-19 cases
UAE – Mubasher: The UAE has reported 1,065 new coronavirus (COVID-19) cases to bring the total number of cases to 160,055, the UAE Ministry of Health announced on Monday. The ministry has conducted 81,558 additional COVID-19 tests to detect new …