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09 August 05:29 PM

Middle east news

The agreement comes in line with Dubai Tourism's objective
30 minutes ago 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
39 minutes ago 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
The market’s turnover amounted to EGP 1.18 billion
42 minutes ago EGX gains EGP 5.3bn in market cap at Sunday's close
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Sunday’s trading session on a positive note on the back of local purchases. The main EGX30 index climbed by 1.34%, ending the session at 10,962 points. Similarly, the small- and mid-cap EGX70 …
Trading Activities
Photo Archive
1 hour ago 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
Qalyubia has about 1.2 million electricity subscribers
1 hour ago Egypt invests EGP 470m in upgrading Qalyubia's electricity network
Cairo – Mubasher: The Egyptian Ministry of Electricity and Renewable Energy has invested EGP 470 million in raising the efficiency of the electricity network in Qalyubia in fiscal year 2019/2020. Medium-voltage overhead power lines reached …
Macroeconomics
The loss per share settled at OMR 0.018
1 hour ago 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
1 hour ago 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)
2 hours ago 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 current cooperation portfolio between EIB and Egypt has reached EUR 4.8 billion
3 hours ago Egypt explores activating EUR 1.13bn deal with EIB
Cairo – Mubasher: The Egyptian minister of international cooperation Rania Al-Mashat explored the means for activating a EUR 1.13 billion funding agreement previously approved for the National Authority for Tunnels with senior officials of the …
International Agreements
The UAE reported a death case
3 hours ago 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
3 hours ago 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
3 hours ago 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
3 hours ago ADX closes Sunday on red territory
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
3 hours ago 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
The transaction involved the purchase of 5.87 million shares
4 hours ago Hassan Allam ups stake in SODIC
Cairo – Mubasher: Hassan Allam Properties raised its stake in Six of October Development and Investment (SODIC) to 3.9% from 2.22%. The transaction involved the purchase of 5.87 million shares for EGP 76.05 million at an average price of EGP 12.95 …
Insider Trading & Treasury Stocks
Central Bank of Kuwait
4 hours ago 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 …
Central Banks
The deal could have a positive impact on Saudi Re’s sales and financials
4 hours ago 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
4 hours ago 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
The deal will raise EMPC’s stake in the Arabian Hospitality Company to 97.55%
4 hours ago EMPC's board approves acquisition of stakes in Arabian Hospitality Co.
Cairo – Mubasher: The board of directors of the Egyptian Media Production City Co (EMPC) approved the acquisition of several stakes in the Arabian Hospitality Company. EMPC acquired the stakes of the National Bank of Egypt (NBE), Banque Misr, Mir …
Mergers and Acquisitions
Photo Archive
5 hours ago 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
Egytrans generated sales of EGP 101.42 million
5 hours ago Egytrans reports 60% profit decline in H1-20 initial results
Cairo – Mubasher: The financial indicators of the Egyptian Transport and Commercial Services Co (Egytrans) showed a 59.6% year-on-year (YoY) drop in its net profits to EGP 9.57 million in the first half (H1) of 2020 from EGP 23.73 million. …
Financial Results
Dar Al Takaful acts as the holding company
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 company’s sales rose to EGP 231.8 million
12:22 PM EMPC’s profit rises 7% in H1-20 unaudited financials
Cairo – Mubasher: The unaudited financial results of the Egyptian Media Production City Co (EMPC) showed net profits of EGP 51.67 million in the first half (H1) of 2020, up by 7.36% year-on-year (YoY) from EGP 48.13 million. The company’s sales …
Financial Results
Elsewedy will build a high voltage distribution substation in the city of Kasmbalesa
11:56 AM Elsewedy Electric's unit inks $38.6m deal to build substation in Congo
Cairo – Mubasher: Elsewedy Electric Co announced that its 99.8%-owned subsidiary Elsewedy Electric for Transmission and Distribution of Energy signed a new agreement worth $38.6 million with Congo’s Societe Nationale d'Electricite (SNEL). Under …
Companies Investments
The reoffering process will take place from 11 to 12 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