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18 January 12:31 AM

Middle east news

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17 January 05:11 PM Egypt's non-oil exports rise 27% in Q3-21
Cairo – Mubasher: Egypt's non-oil exports increased by 27.1 % year-on-year (YoY) to $7.7 billion in the third quarter (Q3) of 2021, according to the quarterly report of the Cabinet's Information and Decision Support Centre. The country's non-oil …
Macroeconomics
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17 January 04:20 PM EGX ends Monday's session on varied note
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday's trading session on a varied note with the small- and mid-cap EGX70 EWI declining alone by 0.04% to 2,195.63 points. The main EGX30 index inched up 0.24% to close Monday's session …
Trading Activities
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17 January 03:53 PM TASI closes Monday's trading session up
Riyadh – Mubasher: The Tadawul All Share Index (TASI) inched up 0.46% or 55.69 points to end Monday's trading session at 12,165.84 points. A total of 192.857 million shares were traded at a total value of SAR 8.54 billion. The diversified …
Trading Activities
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17 January 03:24 PM Al Rajhi Bank completes SAR 6.5bn Sukuk issuance
Riyadh – Mubasher:  Al Rajhi Bank has completed the issuance of its Saudi riyal-denominated Tier 1 Sukuk at a value of SAR 6.5 billion. The settlement issuance was set on 23 January 2021, according to a bourse filing on Monday. The number of Sukuk …
Banking and Finance
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17 January 02:55 PM UAE stock markets close Monday's session in red zone
UAE - Mubasher: The UAE stock markets have ended Monday's trading session in the red zone. The benchmark index of the Dubai Financial Market (DFM) went down 0.70% to settle at 3,179.35 points by the end of Monday's trading session. Turnover …
Trading Activities
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17 January 02:33 PM Egypt secures $10.27bn development financing for economic sectors in 2021
Cairo - Mubasher: The Egyptian Ministry of International Cooperation has secured around $10.27 billion of development financing for various economic sectors in the country during 2021. In line with Egypt's Vision 2030, the Ministry allocated $8.71 …
Macroeconomics
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17 January 01:45 PM Giza Contracting wins EGP 752m project in 10th of Ramadan City
Cairo - Mubasher: Giza General Contracting and Real Estate Investment Company has been awarded a new project with an estimated value of EGP 752 million.  The company will construct multiple buildings in the 10th of Ramadan City, according to a …
Companies Investments
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17 January 01:12 PM Tabreed’s unit acquires AED 65m district cooling plants in Oman
Dubai - Mubasher: Tabreed Oman, a 60.54%-owned subsidiary of National Central Cooling Company (Tabreed), has signed an agreement with Al Mouj Muscat (Al Mouj) to acquire the district cooling plants and related assets in Muscat Oman at a value of …
Companies Investments
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17 January 12:30 PM HD Bank sees EGP 13m block trading deal
Cairo – Mubasher: The Egyptian Exchange (EGX) has announced a block trading deal worth EGP 13.44 million on the shares of the Housing and Development Bank (HD Bank). The block trading deal was implemented on 280,000 of HD Bank's shares, according …
Banking and Finance
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17 January 12:16 PM Mubadala seeks to exit Rota das Bandeiras highway in Brazil
UAE - Mubasher: Mubadala Investment Company (Mubadala) seeks to sell Rota das Bandeiras highway in Sao Paulo in Brazil, according to Reuters citing O Globo columnist Lauro Jardim. Mubadala has hired the investment bank Banco BTG Pactual SA as an …
Companies Investments
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17 January 11:50 AM Mulkia Gulf REIT to distribute 2% dividends for Q4-21
Riyadh - Mubasher: Mulkia Investment Company announced the distribution of SAR 12.259 million cash dividends to the unitholders of Mulkia Gulf Real Estate REIT Fund for the fourth quarter (Q4) in 2021. To be distributed over 68.1 million existing …
Cash Dividends
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17 January 11:13 AM Orascom Construction adds $785m awards to backlog in Q4-21
Mubasher: Orascom Construction Plc, listed on the Egyptian Exchange (EGX) and Nasdaq Dubai, has added new contracts worth $785 million to its backlog in the fourth quarter (Q4) of 2021. This step has raised the total number of new awards by 22% …
Companies Investments
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17 January 10:52 AM SPIMACO inks SAR 240m agreements with Switzerland-based Vifor Pharma
Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) has inked an eight-year agreement with the Swiss Company, Vifor Pharma, to localise the manufacturing for Ferinject injection. Meanwhile, an agreement …
Companies Investments
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17 January 10:34 AM ACWA Power names new Chairman, Vice Chairman
Riyadh - Mubasher: The board of the International Company for Water and Power Projects (ACWA Power) has appointed Mohammed Abdullah Abunayyan as the company's new Chairman. The board also named Suntharesan Padmanathan as Vice Chairman, according …
Management Decisions
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17 January 10:17 AM TAQA, EWEC price first green bonds for UAE solar plant
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) and Emirates Water and Electricity Company (EWEC) have announced the pricing of green senior secured bonds for an aggregate principal amount of $700.8 million (AED 2.6 billion). The …
Companies Investments
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17 January 09:49 AM GFH to spin out infrastructure, real estate assets under Infracorp
Mubasher: GFH Financial Group will spin out its infrastructure and real estate assets under the recently-launched company Infracorp to boost the growth of sustainable and environmental infrastructure assets across the Gulf and global markets. The …
Companies Investments
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16 January 05:03 PM FRA approves Al Shams Housing’s capital increase
Cairo – Mubasher: The Financial Regulatory Authority (FRA) approved the publication of a disclosure form submitted by Al Shams Housing and Urbanization to increase its capital. The listed company's disclosure includes an EGP 45.37 million rise in …
Companies Investments
Minister of Petroleum and Mineral Resources, Tarek El-Molla
16 January 04:46 PM Egypt allocates EGP 30bn to develop oil companies in FY22/23
Cairo – Mubasher: Egypt has allocated EGP 30 billion to develop public oil companies, as part of the fiscal year (FY) 2022/2023 budget, the Minister of Petroleum and Mineral Resources, Tarek El-Molla, stated. El-Molla said that the Ministry seeks …
Macroeconomics
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16 January 04:13 PM EGX's indices close Sunday's session down
Cairo – Mubasher: The EGX30 benchmark index of the Egyptian Exchange (EGX) declined by 1.51% to close Sunday's trading session at 11,830.94 points. The EGX50 EWI retreated by 1.53% to 2,057.9 points, while the small- and mid-cap EGX70 EWI lost …
Trading Activities
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16 January 03:45 PM TASI ends Sunday's session in green zone
Riyadh – Mubasher: The Tadawul All Share Index (TASI) went up 0.26% or 31.14 points to end Sunday's trading session at 12,110.15 points. Turnover amounted to SAR 8.786 billion after 229.036 million shares had been exchanged. The diversified …
Trading Activities
Photo Archive
16 January 03:09 PM Knowledge Economic City awards SAR 49m contract for project in Madinah Gate
Riyadh – Mubasher: Knowledge Economic City Company has awarded Mohammed Al Rashed Trading and Contracting Company (MARCO) a SAR 48.884 million contract to execute the bus station in the Madinah Gate Project. As per the contract, MARCO will …
Companies Investments
Photo Archive
16 January 02:33 PM Egypt records $31bn exports in 2021
Cairo – Mubasher: The total value of Egypt's exports has exceeded $31 billion in 2021, the Egyptian Minister of Trade and Industry, Nevine Gamea, announced on Sunday. Gamea said that the Ministry of Trade and Industry has launched a number of …
Macroeconomics
Photo Archive
16 January 02:06 PM Mohammed bin Rashid Solar Park sees production raise in fifth phase's first project
UAE - Mubasher: The Dubai Electricity and Water Authority (DEWA) has raised the production capacity of the first project of the Mohammed bin Rashid Al Maktoum Solar Park's fifth phase to 330 megawatts (MW)  from 300MW, the Dubai media office …
Companies Investments
Photo Gallery
16 January 01:25 PM Egypt receives 3m doses of Pfizer vaccine
Cairo – Mubasher: Egypt has received three million doses of Pfizer COVID-19 vaccine from the US as part of the COVAX facility, the Acting Minister of Health and Minister of Higher Education and Scientific Research, Khaled Abdel Ghaffar,  announced …
Sector Reports
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16 January 01:00 PM Arab Polvara's losses retreat 38% in 2021
Cairo – Mubasher: Arab Polvara Spinning and Weaving (APSW) recorded a 38.4% decline in net losses to EGP 11.48 million in 2021, compared to EGP 18.66 million in 2020. The company generated revenues of EGP 41.8 million in 2021, up 39.92% from …
Financial Results