Middle east news

Kuwaitis have purchased 135 houses in August
5 minutes ago Kuwaitis’ property buys in Turkey up 4.9% in August
Mubasher: The volume of properties sold in Turkey to Kuwaiti citizens decreased by 4.9% in August compared to July; however, Kuwaiti buyers have remained the third largest purchasers of real estate in Turkey. Kuwaitis have purchased 135 houses in …
EGX closed Monday’s session on a mixed noted
36 minutes ago Blue chips boost EGX30 above 13,600 pts; market cap gains EGP 2.3bn
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Monday’s session on a mixed noted amid Egyptian and Arab buying. The benchmark EGX30 index rose 0.49% or 67.23 points to the level of 13,674.42 points. The EGX70 index slipped 0.11% to 770.76 …
Imdaad is negotiating with three companies specialised in integrated facility management systems
2 hours ago Imdad to use AED 100m for new acquisitions
By: Amr Adel Dubai – Mubasher:  Imdaad, a Dubai-based facility management company, announced that it appropriated AED 100 million to finance new acquisitions in 2017, according to the company’s CEO Jamal Lootah on Monday. Currently, Imdaad is …
The main index closed at its lowest level since 20 August
2 hours ago TASI sees highest decline in two months
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended Monday’s trading session in red, witnessing its highest daily loss since last July. The Tadawul All Shares Index (TASI) declined by 1.39% or 102.19 points, and closed at the level of …
This is the kingdom’s second bond issuance in 2017
2 hours ago KSA names 5 banks to manage USD-bond sale
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) on Monday said that it has authorised several domestic and international banks to manage the sale of the government’s US dollar-denominated sale. Reports forecast that the new issue of …
Brent futures rose by 1.4% to $57.67 per barrel
2 hours ago Brent surges to highest level since mid-2015
Mubasher: Brent crude oil expanded its gains during Monday trade, reaching its highest level in more than two years, with investors showing a positive sentiment regarding the output limitation agreement. Brent futures rose by 1.4% to the level of …
Sales of the residential real estate segment in Kuwait improved by 23% in 8 months
2 hours ago Kuwait property sales decline 5.4% in 8M – NBK
Mubasher: The sales of the real estate sector in Kuwait shrank by 5.4% since the beginning of this year until August on an annual basis, with expectations for a further fluctuation in the investment and residential real estate segments for the …
Egypt is working on the development of oil refineries with investment worth $12.6 billion
2 hours ago EGPC to develop Egypt’s oil refineries for $12.6bn
Cairo – Mubasher: Egypt is working on the development of oil refineries with investment worth $12.6 billion, an official at the Egyptian General Petroleum Corporation (EGPC) told Reuters on Monday. Developing Egypt’s oil refineries aims to …
du Telecommunications Company on Monday announced that it has joined the Amazon Web Services Partner Network (APN), according to a company statement
3 hours ago du joins Amazon’s APN
Dubai – Mubasher: du Telecommunications Company on Monday announced that it has joined the Amazon Web Services Partner Network (APN), according to a company statement. du’s customers will have a rapid access to Amazon Web Service’s (AWS) Cloud …
Shell Egypt posted new partnership with FCA Egypt
3 hours ago Shell Egypt to be main Fiat Chrysler supplier in Egypt
Cairo – Mubasher: Shell Egypt on Monday announced a new partnership with Fiat Chrysler Automobiles (FCA) Egypt Ltd to be FCA’s single supplier in Egypt. This partnership will give Shell the opportunity to reinforce the usage of its motor oils in …
The main index went up 0.64% or 53.95 points to 8,449.47 points.
3 hours ago QSE ends Monday up for 5 consecutive sessions
Doha – Mubasher: The Qatar Stock Exchange (QSE) closed Monday in green, on the back of collective rise in all sectors. The main index went up 0.64% or 53.95 points to 8,449.47 points. The banks sector led the gainers with 0.87%, supported by the …
Egypt will renew its contract with Iraq over importing crude oil
3 hours ago Egypt to renew crude oil import from Iraq deal
Cairo – Mubasher: Egypt will renew its contract with Iraq over importing crude oil, CEO of the Egyptian General Petroleum Corporation (EGPC) Abed Ezz El-Regal told Reuters. Last August, the EGPC said that it was aiming to start negotiations with …
Prime Views project comprise 151 residential units situated on 225,000 square feet, according to a company statement
3 hours ago Prescott Properties launches AED 165m project in Dubai
Dubai – Mubasher: Prescott Real Estate Development on Monday revealed an AED 165 million large-scale residential and commercial project in Dubai Meydan city called Prime Views. Prime Views project comprise 151 residential units situated on 225,000 …
Nine firms see IPOs in H1-17 at SAR 3.2bn – CMA
3 hours ago Nine firms see IPOs in H1-17 at SAR 3.2bn – CMA
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) on Monday said that the initial public offerings (IPOs) of the companies on the Saudi Stock Exchange (Tadawul) reached nine at a value of SAR 3.173 billion during the first half of 2017. …
The banks segment led eight decliners with 1.12%
4 hours ago Boursa Kuwait indices close Monday lower
By: Mohamad Farouk Mubasher: The indices of Boursa Kuwait closed Monday’s trading session in the red zone, for the third session in a row. The price index lost 0.41% or 27.75 points to close at 6,767.52 points; the weighted index retreated 1.21% …
The general index fell for the fourth day in row by0.86% or 30.9 points to 3,569.42 points.
4 hours ago DFM closes Monday in red, pressured by Emaar
By: Mahmoud Gamal Dubai – Mubasher: The Dubai Financial Market (DFM) closed Monday’s session in red, pressured by the real estate, banks, and investment sectors. The general index fell for the fourth day in row by0.86% or 30.9 points to 3,569.42 …
Telecommunication sector lost 1.13% after Etisalat decline by the same percentage
4 hours ago Etisalat sheds 1.1% on Monday
Abu Dhabi – Mubasher: the main index of Abu Dhabi Securities Exchange (ADX) retreated on Monday’s close weighed by leading shares. The main index dropped 0.67% or 29.62 points to 4410.63 points. Telecommunication sector lost 1.13% after Etisalat …
The prospectus will be disclosed long enough before starting the IPO of Awazel
4 hours ago Saudi CMA nods to Boubyan Petrochemical’s associate IPO
Mubasher: Boubyan Petrochemical said that the Saudi Capital Market Authority (CMA) approved on 21 September issuing 8.19 million of Arabian Waterproofing Industries Co.’s (Awazel) shares for the initial public offering (IPO). This stake represents …
There were 47,000 transactions in the real estate market in 8 months
4 hours ago UAE real estate deals rise to AED 203bn in 8M
Dubai – Mubasher: Sultan Butti Bin Mejren, general director of Dubai Land Department, announced that the total value of real estate transactions in the emirate exceeded AED 203 billion in eight months, ending August 2017. There were 47,000 …
“Our new set of appointees will play crucial roles in driving more productivity and growth for the company,” he added
5 hours ago DSI announces key Management Appointments
Dubai - Mubasher: Drake & Scull International (DSI) on Monday announced key Management appointments and changes.  Ziad Makhzoumi was appointed as an Advisor to the Board of Directors and Muin El Saleh was appointed as the new Managing Director of …
France’s Vallourec, Egypt's Shell ink contract to supply 'Bapetco' project
5 hours ago France’s Vallourec to supply Bapetco project in Egypt
Cairo – Mubasher: The French company Vallourec has signed a contract with Badr Petroleum Company (Bapetco), a subsidiary of Shell, to supply approximately 60 to 70 gas wells of ‘Bapetco’ project in Egypt’s western desert with steel pipes. The …
The two funds have been developed entirely within the DFSA’s Collective Investment Fund Regime
12:49 PM Arqaam Capital launches 2 fixed income funds at DIFC
Dubai – Mubasher: Arqaam Capital on Monday announced the launch of two “specialist fixed income funds” at Dubai International Financial Centre (DIFC), following approval from the Dubai Financial Services Authority (DFSA). The two funds are Arqaam …
Governor of the CBE Tarek Amer
12:38 PM Egypt pays $5.2m to Afreximbank prior to end-2017 - CBE
Cairo – Mubasher: Egypt will pay $5.2 billion for the African Export-Import Bank (Afreximbank) before the end of December 2017, the Governor of the Central Bank of Egypt (CBE) Tarek Amer told Almal News. Paying the required dues to the Afreximbank …
KSA’s imports, exports reach SAR 9bn in 17 days – Al-Eisa
12:37 PM KSA’s imports, exports reach SAR 9bn in 17 days – Al-Eisa
Riyadh – Mubasher: Saudi Arabian imports reached 909,000 tonnes worth SAR 4.2 billion, whereas exports reached 1.6 million tonnes amounting to SAR 4.8 billion until 9 September, aleqtisadiah newspaper on Monday said, citing Saudi Customs’ …
EGX opens Monday up amid Egyptian, Arab buying
12:05 PM Local, Arab buying push EGX up early Monday
Cairo – Mubasher: The Egyptian Exchange (EGX) rose early Monday, bolstered by Egyptian and Arab buying. By: 10:33 am Cairo time, the benchmark EGX30 index inched up 0.21% or 28.75 points to the level of 13,635.94 points. The EGX20 index added …