Middle east news

The Saudi lender’s net profits totalled SAR 263.3 million in Q1-19
8 minutes ago Bank AlJazira’s profit grows 7% in Q1
Riyadh – Mubasher: Bank AlJazira reported a 7.3% year-on-year net profit increase in the first quarter of 2019. The Saudi lender’s net profits totalled SAR 263.3 million in Q1-19, compared to SAR 245.3 million in the prior-year period, according …
The revival of the tourism sector is also another large contributor to employment
28 minutes ago Growth towards new cities in Egypt is inevitable – JLL
Cairo – Mubasher: The Egyptian government has pumped approximately EGP 200.7 billion worth of investment in the implementation of projects in the new cities being established across the country, while the private sector has invested nearly EGP 400 …
Saudi German Hospital has no shareholding in this hospital
36 minutes ago Saudi German Hospital manages new facility in Ajman
UAE – Mubasher: Middle East Healthcare Company (Saudi German Hospital) on Sunday announced that it has opened a new facility at the emirate of Ajman, the UAE, according to a filing to the Saudi Stock Exchange (Tadawul). The new hospital, owned by …
GIB Saudi Arabia is equally owned by PIF and GIB
38 minutes ago GIB converts Saudi branches into SAR 7.5bn incorporated bank
Riyadh – Mubasher: Bahrain-based Gulf International Bank (GIB) on Sunday announced the completion of converting its branches in Saudi Arabia into a locally incorporated lender to be headquartered in the Saudi Eastern Province. The new bank, which …
The total value of Al Imtiaz’s financing portfolio amounts to KWD 713,000
56 minutes ago Al Imtiaz’s profit slumps 83% in Q1
Mubasher: Al Imtiaz Investment Group reported an 82.9% year-on-year decline in profits during the first quarter of 2019. The group’s profits amounted to KWD 1 million ($3.3 million) in Q1-19, compared to KWD 5.85 million ($19.3 million) in Q1-18, …
The event seeks to create a more favorable tax environment for enterprises
59 minutes ago UAE elected as new vice chairman in China’s BRITACOM forum
UAE – Mubasher: The UAE has been elected as a vice chairman of the Belt And Road Initiative Tax Administration Cooperation Forum (BRITACOM), which took place in China during the period between 18 April and 20 April. Khalid Ali Al Bustani, chairman …
The QR Code is an easy and safe way to conduct and accept e-payment
1 hour ago Eight banks approach CBE to get QR Code licences
By: Elam Fadl Cairo – Mubasher: Eight banks have approached the Central Bank of Egypt (CBE) to obtain a licence for introducing the QR Code technology, banking sources told Mubasher. These lenders include the National Bank of Egypt (NBE), Banque …
TASI’s liquidity edged down to SAR 2.84 billion on Sunday
1 hour ago TASI in green; Nomu loses 100 pts at Sunday’s close
Riyadh – Mubasher: The Saudi Stock Exchange’s (Tadawul) main Tadawul All Share Index (TASI) rose 43.14 points, or 0.47%, to close at 9,239.67 points on Sunday. TASI’s liquidity edged down to SAR 2.84 billion on Sunday, compared to SAR 2.87 billion …
The capital increase will be implemented through the issuance of 692.65m bonus shares
1 hour ago Elsaeed Contracting’s OGM approves EGP 69.3m capital hike
Cairo – Mubasher: Elsaeed Contracting and Real Estate Investment Company (SCCD) on Sunday announced that the ordinary general meeting (OGM) has approved to raise the company’s issued and paid-up capital to EGP 761.92 million from EGP 692.65 …
Boursa Kuwait will ditch existing orders in the automatic trading system on 28 April
1 hour ago Boursa Kuwait Securities names Al Humaidhi as new chairman
Mubasher: Boursa Kuwait Securities Company has elected a new board for the coming three years. Hamad Meshary Al Humaidhi was named as the new chairman, and Ahmed Altheneyan would be the company’s deputy chairman, according to a statement on …
The deal is expected to be sealed with the government ahead of end-April
2 hours ago El-Attal Holding seeks gov’t partnership to expand outside Cairo
By: Abdullah Bedeir Cairo – Mubasher: El-Attal Holding is currently in talks with the Egyptian government to build social housing units outside Cairo, the company’s chairman said. The real estate firm is negotiating with state-run entities to …
NCB Capital set Jarir Marketing's PT at SAR 157.8 a share
2 hours ago Jarir Marketing’s Q1 profit rises on top-line growth – NCB Capital
Riyadh – Mubasher: Jarir Marketing Co. reported a 6.7% year-on-year net profit increase for the first quarter of 2019, supported by robust top-line growth, according to a report released by NCB Capital (NCBC) on Sunday. Jarir’s net profits, after …
The number of rich migrants in the UAE increased by 2% in 2018
2 hours ago UAE welcomes over 2,000 millionaires in 2018 – Report
UAE – Mubasher: The UAE attracted more than 2,000 millionaires from outside the GCC country, each with at least $1 million worth of net assets, during the full-year 2018, according to a report released by AfrAsia Bank and New World Wealth. The …
Egypt is keen on coordinating with the Chinese company in AI
2 hours ago China’s Huawei to trial 5G network in Egypt next June
Cairo – Mubasher: China-based Huawei Technologies Company Ltd. will launch the first 5G network services trial in Egypt at the Cairo International Stadium during the period of hosting the 2019 Africa Cup of Nations, the Egyptian telecommunication …
The project’s total cost amounted to AED 280.7 million
2 hours ago Musanada completes ‘Z35 Project’ road, infrastructure works
UAE – Mubasher: Abu Dhabi General Services Company (Musanada) unveiled the completion of the “Z35 Roads and Infrastructure Project” at Mohamed bin Zayed City in Abu Dhabi, state-run news agency WAM stated. The project’s total cost amounted to AED …
NBK reported a 15.1% y-on-y profit increase to KWD 107.73m in Q1-19
2 hours ago NBK eyes bigger market share in Egypt – CEO
Mubasher: The National Bank of Kuwait (NBK) plans to increase its market share in the Egyptian market, mainly in the retail banking sector by providing cutting-edge solutions, the CEO of the NBK Group said. NBK’s new branches in Saudi Arabia have …
UAEPASS comes along with the UAE’s strategy for comprehensive digital transformation
2 hours ago Smart Dubai completes 1st phase of UAEPASS Initiative
UAE – Mubasher: Smart Dubai, in collaboration with the Telecommunication Regulatory Authority (TRA), announced the completion of the first phase of the UAEPASS initiative, a nation-wide programme for digital identity, a recent statement said. The …
Porto Group and Amer Group announced split-up in 2015
2 hours ago Amer Group, Porto Group unveil projects’ progress after split-up
Cairo – Mubasher: Porto Group Holding and Amer Group Holding Co have mentioned the latest updates pertaining to their projects after split-up in 2015. The two firms’ subsidiaries reached 11 in 2015 and 2016, while they totaled 12 and 13 in 2017 …
NCB Capital set Alinma Bank's PT at SAR 23.8/shr
2 hours ago Alinma Bank tops Q1 profit estimates on lower provisions – NCB Capital
Riyadh – Mubasher: Alinma Bank recorded stronger-than-expected results in the first quarter of 2019, according to a report released by NCB Capital (NCBC) on Sunday. The Saudi lender’s profits rose 21.8% year-on-year to SAR 709 million in Q1-19, …
TMG Holding reported EGP 1.77 billion in consolidated profits for FY18
3 hours ago TMG Holding seeks to amend five-star hotel deal with Egoth
Cairo – Mubasher: Talaat Mostafa Group Holding (TMG Holding) is looking at amending its agreement with the Egyptian General Co. for Tourism & Hotels (Egoth) through one of its subsidiaries. Upon the deal, the Cairo-based real estate firm will …
Market capitalisation added AED 5.5 billion
3 hours ago ADX ends Sunday in green
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) closed Sunday’s trading session in green territory, encouraged by the announcement of first-quarter financial statements. The general index increased by 54.30 points, or 1.03%, ending …
Boursa Kuwait’s trading value tumbled 32.7% to KWD 28.7 million
3 hours ago Boursa Kuwait ends Sunday with mixed performance
By: Mohamed Farouk Mubasher: The indices of Boursa Kuwait finished Sunday’s trading session on a mixed note after the All-Share and Main markets inched down 0.09% and 0.52%, respectively, while the Premier Market index edged up 0.07%. The stock …
Dividends will be distributed on 8 May
3 hours ago Budget Saudi to pay SAR 1.5/shr dividends for 2018
Riyadh – Mubasher: United International Transportation Company (Budget Saudi) announced that the company’s shareholders had approved distributing a cash dividend of SAR 1.5 per share for 2018 during an ordinary general meeting (OGM) held on …
The ADGM's court-annexed mediation service is free of charge
3 hours ago ADGM Courts launch new mediation service
Abu Dhabi - Mubasher: The Abu Dhabi Global Market Courts (ADGM Courts) have launched the court-annexed mediation service to better meet the increasing demand for mediation solutions and services for ADGM entities and litigants before the ADGM …
Market capitalisation gained AED 669 million
3 hours ago Emaar props up DFM at Sunday’s close
Dubai – Mubasher: The Dubai Financial Market (DFM) ended Sunday’s trading session with positive performance, pushed up by of Emaar’s stock, in addition to the approaching distribution of cash dividends.   The DFM’s general index levelled up 0.24%, …