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17 April 11:32 AM

Middle east news

The market cap value grew by EGP 412.3 million
15 April 04:01 PM EGX ends Thursday mixed
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Thursday’s trading session on a varied note. The main EGX30 index rose by 0.27% to 10,143 points, while the small- and mid-cap EGX70 EWI fell by 0.68% to 1,820 points. Meanwhile, the EGX100 EWI …
Trading Activities
Minister of Supply and Internal Trade, Ali El-Moselhy
15 April 03:51 PM Egypt's strategic reserve of key commodities enough for four months
Cairo – Mubasher: The Egyptian Minister of Supply and Internal Trade, Ali El-Moselhy, announced that the country’s strategic reserve of key commodities is sufficient for four to six months, the Middle East News Agency (MENA) reported on Thursday. …
Macroeconomics
15 April 03:36 PM CNG car sales in India up on rising fuel prices
Global Reports
SRC reportedly completed a dual tenor of seven- and 10-year sukuk issuances
15 April 03:13 PM Fitch assigns Saudi Real Estate Refinance first-time 'A' IDR
Riyadh – Mubasher: Fitch Ratings has placed Saudi Real Estate Refinance Company (SRC) a long-term issuer default rating (IDR) of 'A', with negative outlook. As for the company’s operating performance, Fitch expected SRC's capitalisation to remain …
Real estate
The transaction included the purchase of 6.15 million shares
15 April 02:58 PM Asmak ups stake in Porto Group Holding
Cairo – Mubasher: Asmak Co raised its stake in Porto Group Holding to 12.04% from 11.51%, HC Brokerage said. The transaction included the purchase of 6.15 million shares for EGP 4.246 million, averaging EGP 0.69 apiece, according to a bourse …
Insider Trading & Treasury Stocks
The total number of recovered cases reached 475,012
15 April 02:44 PM UAE registers 1,928 new COVID-19 cases
UAE - Mubasher: The UAE Ministry of Health announced on Thursday 1,928 coronavirus (COVID-19) cases to raise the total number of cases to 491,423. The ministry conducted 225,031 COVID-19 tests to detect cases. The total number of recovered cases …
The total number of passengers at Dubai airport increased by about 21.5%
15 April 02:28 PM Dubai International Airport records 6m passengers in Q1-21
UAE - Mubasher: The total number of passengers at the Dubai International Airport reached more than 5.7 million during the first quarter (Q1) of 2021, according to Dubai Civil Aviation Authority (DCAA). In March, the total number of passengers …
Macroeconomics
Jarir’s store expansion plan will likely drive its market share
15 April 02:22 PM Jarir’s TP raised to SAR 231/shr on expansion
Riyadh – Mubasher: Al Rajhi Capital Research has revised its outlook for Jarir Marketing Company (Jarir Bookstores) and raised the target price (TP) to SAR 231 per share. The research entity said Jarir’s store expansion plan will likely drive its …
Companies Investments
The revenues reached EGP 758.82 million in six months
15 April 02:21 PM CIRA logs EGP 246m profit in six months
Cairo – Mubasher: The consolidated net profits of Cairo for Investment and Real Estate Development (CIRA) rose by 9.97% year-on-year (YoY) to EGP 246.05 million in the six-month period ended 28 February, compared to EGP 223.734 million, including …
Financial Results
The two entities will roll out a joint servicing model
15 April 02:09 PM Riyad Capital partners with BNP Paribas Securities for asset services
Riyadh – Mubasher: Saudi closed joint stock firm Riyad Capital entered into an agreement with BNP Paribas Securities Services to provide global custody, as well as fund and consolidated data management services across Saudi Arabia. The two …
Companies Investments
The company generated revenues of AED 149.2 million in Q1-21
15 April 01:57 PM Deyaar reports higher profits in Q1-21 preliminary results
Dubai – Mubasher: The net profits of Deyaar Development jumped to AED 15.1 million during the first three months of 2021, compared to AED 2.6 million in the year-ago period, according to the company's preliminary financial results. The company …
Financial Results
15 April 01:44 PM Eastern Europe’s construction industry likely to grow 3.6% in 2021
Global Economy
The activities in oil-exporting coutries are expected to recover in 2021
15 April 01:33 PM IMF expects MENA real GDP to grow 4% in 2021
Mubasher: The International Monetary Fund (IMF) has upgraded its outlook for the real gross domestic product (GDP) growth in the MENA region to 4% in 2021, compared to its October projection of 3.2%. The real GDP growth of the GCC countries is …
Macroeconomics
15 April 01:14 PM Dell to get up to $9.7bn following VMWare stake spinoff
Mubasher: Dell Technologies Inc plans to spin off its 81% equity ownership in cloud computing and virtualization software firm VMware.
Global Reports
The first bond issuance is expected to take place in Q1-22
15 April 01:00 PM Aramco’s oil pipeline investors to refund loans with bonds in 2022
Riyadh – Mubasher: EIG Global Energy Partners will lead a consortium to issue billions of dollars in bonds over two or three transactions to refinance loans for investment in the Saudi Arabian Oil Company’s (Saudi Aramco) oil pipeline assets, …
Banking and Finance
Alinma Fund’s termination agreement was signed on 12 November 2020
15 April 12:30 PM Al Akaria liquidates Alinma Fund within two months
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) is working on liquidating and terminating Alinma Fund within two months, according to a disclosure to Tadawul on Thursday. The company is also planning to transfer the ownership of …
Management Decisions
The agreement was signed on 13 August 2020
15 April 12:25 PM El-Sisi approves EUR 1.88bn loan for monorail lines
Cairo – Mubasher: Egyptian President Abdel Fattah El-Sisi issued decree no. 642 of 2020 for the approval of a EUR 1.88 billion loan agreement to finance the construction of two monorail lines, the Middle East News Agency (MENA) reported on …
Macroeconomics
The cash dividends stand at 8 fils per share
15 April 12:22 PM RAK Insurance approves 8% dividends for 2020
Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Ras Al Khaimah National Insurance Company (RAK Insurance) has approved a cash dividends distribution, equivalent to 8% of the capital, to shareholders for 2020. The cash dividends stand …
General Assembly
The Aldar-led alliance offered to acquire at least 51% of SODIC
15 April 12:03 PM SODIC hires financial advisors to study acquisition offer by Aldar Properties
Cairo – Mubasher: The board of directors of Six of October Development and Investment (SODIC) approved the appointment of EFG Hermes and an international investment bank as financial advisors to study the preliminary acquisition offer submitted by …
Mergers and Acquisitions
The outstanding orders for Aldrees will be cancelled
15 April 12:01 PM Tadawul announces fluctuation limit for Aldrees
Riyadh – Mubasher: The Saudi Exchange (Tadawul) said the fluctuation limit for Aldrees Petroleum and Transport Services Company’s stock will be based on a share price of SAR 60.8, according to a disclosure on Thursday. The outstanding orders will …
Markets Regulations
The WPI was higher by 0.8% on a monthly basis
15 April 11:56 AM Saudi wholesale price index up 8.7% YoY in March
Riyadh – Mubasher: Saudi Arabia’s Wholesale Price Index (WPI) for March 2021 rose 8.7% year-on-year (YoY), according to the Saudi General Authority for Statistics (GaStat). The WPI was also higher by 0.8% compared with its 7.3% reading for …
Macroeconomics
The Sukuk is listed on Euronext Dublin and Nasdaq Dubai
15 April 11:51 AM DIB closes lowest pricing on $500m Sukuk issuance
Dubai – Mubasher: Dubai Islamic Bank (DIB) has priced a perpetual non-call five and a half year Additional Tier 1 (AT1) Sukuk issuance worth $500 million with a 3.375% profit rate per annum. This transaction records the lowest pricing closed by a …
Banking and Finance
The transaction involved the sale of 8.21 million shares
15 April 11:35 AM Al Ahly Capital trims stake in AMOC for EGP 24m
Cairo – Mubasher: Al Ahly Capital Holding Company reduced its stake in Alexandria Mineral Oils Co (AMOC) to 23.82% from 24.46%. The transaction involved the sale of 8.21 million shares at a value of EGP 23.78 million, averaging EGP 2.89 per share, …
Insider Trading & Treasury Stocks
Consumer prices continue to reflect the VAT increase
15 April 11:32 AM Saudi Arabia’s inflation registers nine-month low at 4.9% in March
Riyadh – Mubasher: The consumer price index (CPI) of Saudi Arabia registered a 4.9% increase in March 2021 up from the same month last year, official data showed on Thursday. The inflation rate eased compared with its 5.2% reading in February and …
Macroeconomics
Board says greater returns can be achieved from the current growth strategy
15 April 11:11 AM UAE's Tristar Transport to withdraw from planned IPO on DFM
Mubasher: The board and shareholders of the UAE-based Tristar Transport, a 65.12%-owned subsidiary of Agility Public Warehousing, have decided to withdraw from the planned initial public offerings (IPO) on the Dubai Financial Market (DFM). This …
Initial Public Offerings