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Fidu Properties saw a 172% jump in real estate deals in UAE
2 hours ago China’s Fidu sees 289% YoY jump in Emaar’s projects sales
Dubai – Mubasher: Fidu Properties, one of the leading UAE-based Chinese developers, recorded a 289% year-to-year (YoY) surge in the sales of projects by Emaar Properties in the UAE during 2019. Fidu Properties saw a 172% jump in real estate deals …
Toyota Land Cruiser features new design and intelligent technologies
3 hours ago Al Futtaim Toyota’s sales witness strong performance in 2019
Dubai – Mubasher: Al Futtaim Toyota in the UAE has posted strong sales during 2019 because of its new innovative models joining its portfolio, according to a press release on Sunday. Its Toyota Land Cruiser, featuring new design and intelligent …
Each tanker has a storage capacity of 1,750 tonnes
3 hours ago Egypt launches 2 oil tankers with $14m investments
Cairo – Mubasher: The Egyptian ministry of petroleum and mineral resources has launched two oil tankers in Port Said and Suez to supply vessels with fuel with total investment of $14 million (EGP 221 million), Ahram Gate reported on Sunday. The …
Al Sorayai Trading and Industrial Group topped the gainers
3 hours ago TASI ends Sunday in red; turnover falls to SAR 3.47bn
Riyadh – Mubasher: The Saudi Stock Exchange’s (Tadawul) benchmark Tadawul All Share Index (TASI) fell for the fourth session in a row at the end of Sunday’s trading session, shedding 59.38 points or 0.17% to 8,326.97 points.   The market’s trading …
Merchandise exports decreased to around SAR 79.83 billion
3 hours ago Saudi Arabia’s trade surplus down 23.5% in November
Riyadh – Mubasher: Saudi Arabia’s trade surplus declined by 23.54% to around SAR 42 billion ($11.2 billion) in November 2019, compared to SAR 54.95 billion in the same period in 2018. The kingdom’s merchandise exports and imports reached around …
Saudi Arabia is the UAE’s most prominent partner in the GCC
3 hours ago Saudi citizens, banks invest AED 10.93bn in UAE in 2018
UAE – Mubasher: The value of investments by Saudi citizens and banks in the UAE reached AED 10.93 billion in 2018, including AED 6.35 billion in joint stock companies and AED 4.58 billion in Saudi investors’ transactions in the UAE. This …
Dubai welcomed the highest number of investors in Q4-19
4 hours ago Dubai’s new investors increase 86% in 2019
UAE - Mubasher: The number of new investors in Dubai surged by 86% to more than 60,700 in different economic sectors during 2019 when compared to 32,600 in 2018, according to official data by Dubai's Department of Economic Development (DED). …
The nomination is effective from 26 January until 25 January 2023
4 hours ago Tabuk Cement unveils new board; Al Juhni named chairman
Riyadh – Mubasher: Tabuk Cement Company on Sunday announced the appointment of Saoud bin Solaiman Al Juhni as the new chairman. Moreover, the company appointed new board members, including Abdulaziz bin Abdelrahman Al khamis as the deputy …
Riyad Bank’s total revenue increased by 24.47% in FY19
4 hours ago Riyad Bank posts 81.2% increase in FY19 net profits
Riyadh – Mubasher: Riyad Bank’s net profits jumped by 81.2% to SAR 5.60 billion in 2019 from SAR 3.09 billion in 2018, according to the bank’s annual financial results for the period ended on 31 December 2019. The surge in the bank’s net profits …
Market cap lost about EGP 270 million
4 hours ago EGX30 edges down at Sunday's close amid foreign sell-offs
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Sunday’s trading session with a sideways-to-declining performance amid foreign sell-offs. The benchmark EGX30 index edged down by 0.05%, ending the session at 13,721 points. Meanwhile, the …
Union Properties is in the final stages of signing Autodrome deal
4 hours ago Union Properties to ink AED 200m deal to expand Autodrome
Dubai – Mubasher: Union Properties is in the final stages of signing a memorandum of understanding (MoU) with China National Chemical Engineering Group Corporation (CNCEC) to expand Dubai Autodrome at a value of around AED 200 million. The …
Loss per share amounted to SAR 3.03 in 2019
4 hours ago Herfy Food sees lower annual profits at SAR 196m in 2019
Riyadh – Mubasher: Herfy Food Services Company on Sunday reported a net profit, after zakat and tax, worth SAR 196.08 million during the fiscal year ended 31 December 2019, down by 3.96% year-on-year (YoY) from SAR 204.16 million, the company’s …
The total value of dividends amounted to SAR 246 million
4 hours ago Bank Aljazira’s board proposes SAR 0.30/shr dividends for H2-19
Riyadh – Mubasher: The board of directors of Bank Aljazira recommended a cash dividend distribution of SAR 0.30 per share for the earnings of the second half of 2019. The total value of dividends amounted to SAR 246 million, excluding applicable …
The two loans will be disbursed over 24 semi-annual payments
5 hours ago Egypt’s parliament approves EUR 1.016bn loan to buy 1,300 railroad cars
Cairo – Mubasher: The Egyptian parliament approved the presidential decree no. 14 of 2020 regarding a credit facility for the purchase of 1,300 railroad cars, the Middle East News Agency (MENA) reported on Sunday. Valued at EUR 1.016 billion, the …
Egypt's electricity and renewable energy minister - Mohamed Shaker
03:41 PM Egypt seeks to take part in building Congo’s Inga Dam
Cairo – Mubasher: Egypt is looking to take part in establishing the Inga Dam project in Congo and operating a joint electricity grid with the African country.  Moreover, the most populous Arab nation's minister of electricity and renewable energy …
A total of 18.65 million shares were exchanged
03:20 PM ADX down on Sunday; market cap exceeds AED 542bn
Abu Dhabi – Mubasher: The main index of Abu Dhabi Securities Exchange (ADX) went down by 0.28% or 14.67 points to 5,230.01 points by the end of Sunday’s trading session, compared to its upward performance on Thursday, 23 January. A total of 18.65 …
The bank’s authorised capital will be increased by $200 million
03:13 PM Egypt’s parliament approves IBRD’s capital raise
Cairo – Mubasher: The Egyptian parliament approved the presidential decree no 662 of 2019 regarding a capital increase of the International Bank for Reconstruction and Development (IBRD), Ahram Gate reported on Sunday. The bank’s authorised …
Marakez’s stake in Antaradus amounts to 10%
03:12 PM Marakez receives $21m offer to exit stake in Syria’s Antaradus
Mubasher: Real Estate Trade Centers (Marakez) has received an offer to sell its stake in Syria’s Antaradus for Touristic Development Company at a value of $21 million.  Marakez’s stake in the Syrian firm represents 10%, according to a bourse …
GFH was the most active stock with 11.54 million traded shares
03:02 PM DFM maintains negative performance on Sunday
Dubai – Mubasher: The benchmark index of Dubai Financial Market (DFM) retreated by 0.58% or 16.53 points to 2,821.46 points by the end of Sunday’s trading session, maintaining its downward performance on Thursday, 23 January. A total of 68.09 …
A total of EGP 24.926 billion was allocated to GASC
02:38 PM Egypt approves EGP 28.2bn urgent allocations in H1-19/20
Cairo – Mubasher: The Egyptian Ministry of Finance approved urgent allocations of EGP 28.17 billion for seven state-owned bodies for the first half of fiscal year 2019/2020. The government approved an allocation of EGP 24.926 billion to the …
Rameda’s stock started trading on the EGX on 11 December
02:16 PM Rameda's revenue rises to EGP 890m in 2019 unaudited financials
Cairo – Mubasher: Tenth of Ramadan for Pharmaceutical Industries and Diagnostic Reagents (Rameda) expects generating earnings before interest, taxes, depreciation, and amortisation (EBITDA) of EGP 255 million in 2019, up by 11.7% year-on-year from …
The banks segment headed six losers with 0.87%
02:05 PM Boursa Kuwait down on Sunday
Mubasher: The Main Market Index of Boursa Kuwait levelled down by 0.67% at Sunday’s close, followed by the All-Share and Premier indices with 0.56% and 0.53%, respectively. Liquidity shrank to KWD 34.07 million, compared to KWD 41.53 in the …
Total Saudi merchandise exports slipped by 14.9% in November 2019
01:50 PM Saudi oil exports dip 15.4% in November - GaStat
Riyadh – Mubasher: Recent data from the Saudi Arabia General Authority for Statistics (GaStat) showed a 15.4% year-on-year (YoY) decrease in Saudi oil exports in November 2019. Oil exports retreated to SAR 62.3 billion in November last year from …
The Egyptian company generated EGP 2.58 billion in sales
01:12 PM Obour Land logs EGP 295m profit in 2019; dividends proposed
Cairo – Mubasher: Obour Land for Food Industries posted a 24% year-on-year profit growth during 2019, the company’s consolidated financial statements showed. The company’s net profits hiked to EGP 295.28 million last year, compared to EGP 238 …
Telecom Egypt logged a net profit of EGP 3.2 billion in nine months
12:36 PM Telecom Egypt denies Vodafone stake sale reports
Cairo – Mubasher: Telecom Egypt denied reports about receiving offers for the sale of its stake in Vodafone Egypt Telecommunications. The state-run telecom operator confirmed that it has no intent to sell its stake in Vodafone Egypt in the current …