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19 June 12:07 AM

Middle east news

Minister Rania El-Mashat and Ambassador Ib Petersen
17 June 06:28 PM Egypt, UNFPA discuss cooperation on SDGs, Vision 2030
Cairo – Mubasher: The Egyptian Minister of International Cooperation, Rania El-Mashat, met with Ambassador Ib Petersen, Assistant Secretary-General of the United Nations (UN) and Deputy Executive Director of the United Nations Population Fund …
International Agreements
Tadawul approved listing new debt instruments of SAR 4.65 billion
17 June 05:33 PM Tadawul approves listing of government debt instruments
Riyadh – Mubasher: Saudi Tadawul Group has approved the listing of new debt instruments worth SAR 4.65 billion as of 21 June 2021, according to a disclosure on Thursday. Tadawul also announced the listing of debt instruments worth a total of SAR …
Macroeconomics
Friday will mark the entry into force of the new commercial chambers bylaw
17 June 05:20 PM Council of Saudi Chambers becomes federation
Riyadh – Mubasher: The Council of Saudi Chambers has officially changed its name to the Federation of Saudi Chambers, state-run news agency SPA reported on Thursday. Friday, 18 June 2021 will mark the entry into force of the new commercial …
Macroeconomics
Yansab will pay SAR 1.5 per share
17 June 05:08 PM Yansab to pay SAR 844m in dividends for H1-21
Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) will distribute cash dividends worth a total of SAR 843.75 million to the entitled shareholders for the first half (H1) of 2021. The company will pay SAR 1.5 per share, representing …
Cash Dividends
National Building is currently listed and trading on NomuC
17 June 04:51 PM National Building submits request to list on main market
Riyadh – Mubasher: National Building and Marketing Company has submitted its request to move to the main market of the Saudi Exchange (Tadawul) under the Tadawul All Share Index (TASI). The company is currently listed and trading on the parallel …
Management Decisions
The telecom segment led the decliners with 0.84%
17 June 04:41 PM TASI falls on Thursday; NomuC rises
Riyadh – Mubasher: The Tadawul All Share Index (TASI) of the Saudi Exchange (Tadawul) ended Thursday at 10,853.12 points, down by 0.03% or 2.83 points compared to the prior session. The turnover totalled SAR 14.11 billion through the exchange of …
Trading Activities
Emirates will operate 880 weekly services by the end of July
17 June 04:40 PM Emirates to resume almost 90% of pre-pandemic network by end of July
UAE - Mubasher: Emirates Airline will restore close to 90% of its pre-pandemic network by the end of July, as the company is gradually recovering its route networks and implementing its strategy to expand its presence in key markets. By the end of …
Companies Investments
Aramco completed on 17 June the Sukuk issuance of 30,000 notes
17 June 04:11 PM Aramco raises $6bn through USD-denominated Sukuk offering
Riyadh – Mubasher: Saudi Arabian Oil Company (Saudi Aramco) has raised $6 billion by issuing USD-denominated international trust certificates. Aramco completed on 17 June the Sukuk issuance of 30,000 notes at a par value of $200,000 each, …
Sukuk and Islamic Finance
A total of 11,387 new investors entered Dubai's real estate market
17 June 03:49 PM Dubai records AED 11bn real estate investments in May 2021
UAE - Mubasher: Dubai recorded 5,359 real estate investments worth more than AED 11 billion in May 2021, as shown by the real estate bulletin issued by Dubai Land Department (DLD). A total of 11,387 new investors entered Dubai's real estate …
Real estate
HAH will replace its old vehicles with electric ones
17 June 03:16 PM Hassan Allam joins forces with El Nasr to switch to electric cars
Cairo – Mubasher: Hassan Allam Holding Company (HAH) signed a cooperation agreement with El Nasr Automotive Manufacturing Company to replace part of its fleet with electric vehicles, according to a press release on Thursday. HAH will replace its …
Companies Investments
The main index of ADX inched down by 0.75%
17 June 03:11 PM DFM ends Thursday up; ADX down
UAE - Mubasher: The UAE stock markets have ended Thursday's trading session on a varied note. The benchmark index of the Dubai Financial Market (DFM) went up 0.79% to settle at 2,862.66 points by the end of Thursday's session. A total of 122.86 …
Trading Activities
About 86% of the elderly in Bisha were vaccinated
17 June 02:56 PM Saudi Arabia vaccinates 98% of elderly
Riyadh – Mubasher: Saudi Arabia’s Ministry of Health has vaccinated approximately 98% of the elderly, aged 60 years or older, against COVID-19. This percentage has been achieved after administering at least one dose of the vaccine, Saudi Press …
Sector Reports
The company will reduce the capital by EGP 10.88 million
17 June 02:31 PM United Housing's EGM approves capital cut
Cairo – Mubasher: The extraordinary general meeting (EGM) of United Company for Housing and Development has approved to cut the company's issued and paid-up capital to EGP 343.11 million from EGP 354 million. The company will reduce the capital by …
General Assembly
Net sales amounted to EGP 282.63 million in Q1-21
17 June 02:12 PM Sinai Cement’s Q1 losses widen 40%
Cairo – Mubasher: Sinai Cement incurred consolidated net losses after tax worth EGP 147.97 million in the first quarter (Q1) of 2021, higher 40% than EGP 105.8 million in Q1-20. Loss per share stood at EGP 2.17 in Q1-21, compared to EGP 1.55 in …
Financial Results
The UAE banks provided AED 1.6 billion facilities to the business and industrial sectors
17 June 01:56 PM UAE banks grant AED 1.6bn facilities to business, industrial sectors in April
UAE - Mubasher: The banks operating in the UAE have provided AED 1.6 billion facilities to the business and industrial sectors during April 2021, up from March, according to the latest data by the Central Bank of the UAE (CBUAE), the Emirates News …
Central Banks
AMOC targets revenues of EGP 10 billion
17 June 01:25 PM AMOC eyes EGP 227m investments next year
Cairo – Mubasher: Alexandria Mineral Oils Company (AMOC) intends to invest EGP 227 million as proposed in the budget plan for fiscal year (FY) 2021/2022. The board of AMOC approved the budget plan that indicates a net profit after tax worth EGP …
Board of Directors
The UAE has advanced in 120 global indicators
17 June 01:18 PM UAE leads globally 20 development indicators
UAE – Mubasher: The UAE has topped the world in 20 development indicators in the IMD World Competitiveness Ranking 2021, released by Switzerland's International Institute for Management Development. This announcement was made by Sheikh Mohammed …
Macroeconomics
The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders
17 June 12:37 PM Kuwait's Ahli United Bank lists $600m Sukuk on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of a $600 million Sukuk by Ahli United Bank (AUB), a Kuwaiti financial institution. The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders, according to a press release on …
Banking and Finance
The Middle East could be having a few more unicorns
17 June 12:25 PM Middle East could be seeing more billion-dollar startups – Careem CEO
Mubasher: The Middle East is not far from seeing more billion-dollar startups in the coming months, and it could be having “a few more unicorns in the region,” CEO of ride-hailing company Careem Mudassir Sheikha stated during a CNBC event The …
Macroeconomics
The new base rate set by the central bank is 15 basis points
17 June 12:10 PM CBUAE raises overnight base rates 5 basis points
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has increased the base rate applicable to the overnight deposit facility (ODF) by five basis points, effective from 17 June 2021. The new base rate set by the central bank is 15 basis points, …
Central Banks
The company has achieved EGP 1.187 billion net profits
17 June 11:48 AM Ezz Steel's exports hit $269m in Q1-21
Cairo – Mubasher: The total exports of Ezz Steel jumped by 47% year-on-year (YoY) to $269 million during the first quarter (Q1) of 2021, compared to $183 million. These exports comprise $208 million in flat steel and $61 million in coiled rebar, …
Financial Results
Tadawul remained the MENA region’s top listing venue in Q1-21
17 June 11:27 AM Saudi Arabia continues to lead MENA’s IPO market – EY
Mubasher: Saudi Arabia witnessed the most active initial public offering (IPO) transactions across the MENA region, topping the regional listing venue in the first quarter (Q1) of 2021, a recent report by Ernst & Young (EY) unveiled. The Saudi …
Initial Public Offerings
The shareholder has offered 164 million shares in the bank
17 June 11:05 AM ADCB investor exits with AED 1.1bn stake sale
Abu Dhabi – Mubasher: An investor in Abu Dhabi Commercial Bank (ADCB) has exited from its investments in the lender by selling its entire stake in exchange for around AED 1.1 billion ($300 million), Bloomberg reported. The shareholder has offered …
Banking and Finance
SASCO will later announce the distribution date
17 June 10:44 AM SASCO to distribute dividends worth SAR 12m for 2020
Riyadh – Mubasher: The shareholders of Saudi Automotive Services Company (SASCO) approved the board’s recommendation of paying an additional cash dividend of SAR 0.2 per share for 2020. SASCO will pay a total of SAR 12 million, representing 2% of …
General Assembly
The Chinese trucking startup aims to raise $1.57 billion in an IPO
17 June 10:29 AM UAE's Mubadala to invest $100m in Chinese trucking startup
UAE - Mubasher: Abu Dhabi-based Mubadala Investment Company seeks to invest $100 million in Class A ordinary shares of Full Truck Alliance Co, an Uber-like trucking startup, Bloomberg reported. The Chinese trucking startup aims to raise $1.57 …
Companies Investments