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07 April 11:55 AM

Levant news

Emaar Properties’ unit eyes global hotel portfolio expansion
19 November 2017 10:48 AM Emaar Properties’ unit eyes global hotel portfolio expansion
Dubai - Mubasher:  Oliver Harnisch, CEO of Emaar Hospitality Group, has said that the group intends to double its hotel portfolio four times by 2021. Harnisch explained that the Emaar Properties subsidiary  has 30 hotels under development in the …
Companies Investments Global Indices
Saudi Prince Alwaleed bin Talal is rumoured to be selling his hotels in Beirut
14 November 2017 08:12 PM Bin Talal’s Beirut hotels go up for sale
Riyadh – Mubasher: Saudi Prince Alwaleed bin Talal is rumoured to have put its luxury hotels in Beirut up for sale. “A Lebanese commercial bank has been commissioned to find buyers for the posh Four Seasons Hotel Beirut and Movenpick Hotel …
Companies Investments Global Indices
Kingdom Holding Company’s (KHC) stocks dropped by 7.6% on Sunday before sliding by 5.6% on Monday
7 November 2017 07:35 PM Global markets take a hit on Saudi arrests - Report
By: Mohamed Soliman Mubasher: The recent wave of surprising Saudi resolutions, which involved the arrest a number of princes and ministers through the government’s new anti-corruption campaign has negatively impacted global markets. King …
Politics Global Indices
The project will be the first major scheme involving the two state giants
25 October 2017 09:47 PM Aramco, SABIC receive bids for $20bn petrochemicals project
Riyadh - Mubasher: Saudi Aramco and Saudi Basic Industries Corp (SABIC) have reportedly received project management consultancy bids for a planned joint venture oil-to-chemicals project, industry sources told Reuters on Wednesday. The two Saudi …
Global Economy Global Indices
Aramco is the biggest oil company in the world
24 October 2017 11:46 PM Aramco to decide on COTC with SABIC by year-end
Riyadh - Mubasher: Saudi Aramco expects to decide on the plans for a joint oil-to-chemicals project with Saudi Basic Industries Corp (SABIC) by the end of 2017, as reported by the Reuters. “We finished the feasibility. We are at a stage where we …
Companies Investments Global Indices
This acquisition step is expected to expand Investcorp’s geographic footprint
18 October 2017 05:06 PM Investcorp acquires UK Kee Safety in $370m deal
Mubasher: Investcorp announced its agreement on acquiring Dunedin’s stake in the UK-based Kee Safety for a total value of GBP 280 million ($370 million), according to a recent statement. Investcorp is a leading provider and manager of alternative …
Company News Global Indices
Emaar recently unveiled the Cove 1 in the region
18 September 2017 09:31 AM Emaar launches Address Harbour Point
Dubai – Mubasher: Emaar Properties launched the two-tower Address Harbour Point in the heart of Dubai Creek Harbour, according to Al Bayan newspaper. The first tower is made up of 65 storeys and the second has 53 storeys, featuring a total of 202 …
Commodities Global Indices
Dana Gas Egypt’s production output grew by 13% during the first half of 2017
15 August 2017 04:02 PM Dana Gas to drill 3 new wells in Egypt
Abu Dhabi – Mubasher: Dana Gas on Tuesday said its receivables from the Egyptian government contributed to its profit growth during the first half of 2017. The Sharjah-based gas company also announced plans to drill three exploration wells on …
Companies Investments Global Indices
Photo Archive
16 July 2017 10:05 PM KFH is world’s biggest in Sukuk issuance - Chairman
Kuwait - Mubasher: The chairman of Kuwait Finance House (KFH) said that the group is the biggest Sukuk issuer in the world, as demand is rising on the sharia-compliant product. Hamad Abdulmohsen Al Marzouk added in a statement issued on Sunday …
Banking and Finance Global Indices
The port has a draft of up to 11 metres (tide free) and three 400-metre berths that can accommodate cruise vessels
6 July 2017 04:03 PM DP World Limassol to open new terminal
Dubai – Mubasher: A new terminal is scheduled to open in the summer at DP World Limassol port in Cyprus, according to a statement. Designed to accommodate the largest operating cruise vessels, the new terminal consists of seven pods with an …
Commodities Global Indices
QAR last recorded EGP 4.64 for selling and EGP 4.93 for buying on the bank's list
5 July 2017 09:14 PM ADIB - Egypt lifts QAR from its currencies
Cairo - Mubasher: Abu Dhabi Islamic Bank (ADIB) - Egypt has removed the Qatari Riyal from its exchange rates screen, as shown by the bank’s website. The QAR registered EGP 4.64 for selling and EGP 4.93 for buying in the bank’s trade on Tuesday. …
Central Banks Global Indices
Photo Credit: Company Website
27 May 2017 06:57 PM DP World negotiates acquiring stake in Russian ports operator
 Dubai - Mubasher: DP World is in talks to buy a stake in a Russian transport operator company, the Financial Times reported. Summa Group is discussing selling a stake in Fesco, Russia’s largest ports and rail transport operator, to a consortium …
Mergers and Acquisitions Global Indices
Photo Archive
27 May 2017 11:40 AM Agility to pay $95m to settle US contracts
Mubasher: Agility announced on Friday reaching an agreement to pay $95 million (KWD 28.8 million) in cash to settle a civil lawsuit accusing it of defrauding the United States military on food supply contracts, according to Reuters. On Wednesday …
Law Global Indices
Photo Credit: Press Release
20 May 2017 02:57 PM Egyptian new refinery to begin production in 2018
Cairo - Mubasher: The Egyptian minister of petroleum and mineral resources said that the Egyptian Refining Company’s (ERC) project is expected to be begin operating by the end of 2017. The minister added on the sidelines of his visit to the Cairo …
Macroeconomics Global Indices
Photo Credit: Arabianeye-Reuters
16 May 2017 04:10 PM Crédit Agricole collected $1bn in 6M
By: Mostafa Adel Cairo - Mubasher: The managing director of Credit Agricole - Egypt said that the bank US dollar inflows from its customers reached $1 billion since the pound flotation until now. Francois Edouard Drion told Mubasher on Tuesday …
Currencies Global Indices
Photo Credit: Arabianeye-Reuters
22 April 2017 08:02 PM Saudi Arabia to launch biggest goldmine Monday
Riyadh - Mubasher: Saudi Prince Khalid al-Faisal Al Saud, the Governor of Makkah, will officially inaugurate on Monday Al Dawaihi goldmine and factory, the biggest goldmine in Saudi Arabia. The goldmine is owned by the Saudi Arabian Mining Company …
Companies Investments Global Indices
The agreement aims at enhancing retail appeal - (Photo Credit: Press Release)
8 April 2017 04:27 PM DGCX, DMCC signs MoU with RAK Bank to develop precious metals products
Mubasher: The Dubai Gold and Commodities Exchange (DGCX), the Dubai Multi Commodities Centre (DMCC) and the National Bank of Ras Al Khaimah (RAK Bank) signed a Memorandum of Understanding (MoU) on Saturday for the development of bullion products, …
Companies Investments Global Indices
Oil prices saw its first monthly drop since October 2016 - (Photo Credit: Arabianeye-Reuters)
7 February 2017 08:55 PM Al-Rajhi Capital rise TP for Yansab, SAFCO
Riyadh - Mubasher: Al-Rajhi Capital increased their target price (TP) for Yansab and SAFCO up to SAR 58 and 62 per share, respectively, and reiterated their ratings and target prices for most Saudi petrochemicals companies. According to a recent …
Stock Evaluations Global Indices
Qatargas will supply 1.1 million tonnes of Liquefied Natural Gas - (Photo Credit: Arabianeye-Reuters)
19 October 2016 04:51 PM Qatargas, Petronas ink new deal
Doha - Mubasher: Qatargas announced on Wednesday that it has signed a new deal with Petronas UK Limited (PLUK), to supply 1.1 million tonnes of liquefied natural gas until 31 December 2023, according to the company’s statement. The new five-year …
International Agreements Global Indices
The temporary closing of the station will affect the company's revenues - (Photo Credit: Arabianeye-Reuters)
21 September 2016 00:19 AM Oula Fuel Marketing to renew Al Fintas station
Kuwait - Mubasher: Oula Fuel Marketing said it will close its gas station no 49 in Al Fintas area for maintenance, renewal and development. Al Sharjah International has been assigned to redevelop the station, the operation will be carried out in a …
Commodities Global Indices
In mid-June 2016, the Fed left its benchmark interest rate steady at 0.5% (Photo credit: Arabianeye - Reuters)
11 September 2016 10:57 PM US interest rates to remain unchanged -NBK
Mubasher: The Federal Reserve is expected to keep interest rates unchanged amid the decline of the US dollar against major currencies, in addition to low employment rate and slowdown in US services sector, according to a report by the National …
Commodities Global Indices
The bank may raise about $500 million this year- (Photo Credit: Arabianeye-Reuters)
13 August 2016 00:06 PM ABK to issue dollar bonds for 1st time – Agency
Kuwait – Mubasher: Al Ahli Bank of Kuwait (ABK) is considering the issuance of dollar-dominated bonds for the first time to get long-term financials to boost growth. The bank may raise about $500 million this year, Bloomberg reported on Thursday. …
Macroeconomics Global Indices
Photo Credit: Arabianeye - Reuters
30 August 2015 11:30 AM China maintains commitment to reforms
Mubasher: Chinese officials announced last Tuesday policy measures that would reduce liquidity tensions in the country and boost economic growth, Asiya Investments said in a report. The country’s benchmark lending and deposit rates were cut by 25 …
Macroeconomics Global Indices