Middle east news

Gulf Cable closed Thursday’s session at 420 fils
16 minutes ago Gulf Cable’s subsidiary wins $6.3m tender in Jordan
Mubasher: Gulf Cable and Electrical Industries Co – Jordan, a 94.5%-owned subsidiary of the Kuwaiti company Gulf Cable and Electrical Industries, was awarded a tender offered by Jordan Electric Power Co. The tender contract is valued at KWD 2.77 …
The real estate sector went down 1.24%
29 minutes ago Blue chips drag ADX down Thursday
Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange’s (ADX) general index fell 4.07 points, or 0.09%, to 4,579.6 points on Thursday. The ADX’s trading volume rose to 51.5 million shares from 46.1 million on Wednesday, while the market’s …
32 minutes ago Australia’s Qantas marks record turnaround in 6M
Qantas Airways reported record profits in the six months ended December 2017
Embassy of Belgium in Cairo
42 minutes ago Belgian trade delegation to visit Egypt next March
Cairo – Mubasher: A Belgian trade delegation is getting ready to visit Egypt next March in a bid to discover investment opportunities in the North Arab nation and the possibility of partnering up with local institutions in different industries. …
The kingdom will start establishing a world-class opera house
53 minutes ago KSA to inject SAR 240bn into recreation sector
Riyadh – Mubasher: Saudi Arabia will invest SAR 240 billion (about $64 billion) in the recreation sector over the coming ten years, as these funds will be raised from the Saudi public and private sector, head of General Entertainment …
Boursa Kuwait’s trading value shrank by 9% to KWD 10.56 million on Thursday
60 minutes ago Boursa Kuwait closes week in green amid lower liquidity
By: Mohamad Farouk Mubasher: The indices of Boursa Kuwait closed Thursday’s session with a grouped rise for the second session in a row; the benchmark price index went up 0.82% or 55.23 points to 6,756.54 points. Similarly, both the weighted and …
The general index inched down 22.65 points, or 0.25%, to 9,096.36 points.
1 hour ago Blue chips pull QSE down Thursday
Mubasher: The Qatar stock exchange (QSE) ended Thursday in the red, dragged down by the fall of three sectors. The general index inched down 22.65 points, or 0.25%, to 9,096.36 points. By the end of the week’s last session, market capitalisation …
The transportation sector grew 0.29%
1 hour ago DFMGI hits 2nd straight high Thursday
By: Mahmoud Gamal Dubai – Mubasher: The Dubai Financial Market’s (DFM) general index inched up 0.9 points, or 0.03%, to 3,286.54 points, on Thursday for the second successive session. The DFM recovered in the last couple of sessions, which is a …
The bank has retained EGP 2.05 billion for 2017
1 hour ago NBK Egypt proposes EGP 188m dividends for 2017
Cairo – Mubasher: National Bank of Kuwait of Egypt on Thursday said that total proposed cash dividends for shareholders amounted to EGP 187.5 million for 2017 profits. Meanwhile, the proposed dividends for employees stood at EGP 150.31 million, …
These projects will create 30,000 job opportunities for Iraqi citizens
1 hour ago 20 Saudi, Egyptian firms team up for Iraq's reconstruction
Riyadh – Mubasher: Twenty Saudi and Egyptian companies have formed a consortium to implement reconstruction projects in Iraq. These projects will create 30,000 job opportunities for Iraqi citizens, especially in construction projects, Okaz …
1 hour ago China may surpass US as top nuclear energy nation –IEA
China is likely to overtake the US as the world's largest producer of nuclear energy by 2030, according to an IEA official
Total dividends for shareholders amount to EGP 316.26 million
2 hours ago HDB proposes EGP 2.5/shr dividends for 2017
Cairo – Mubasher: Housing and Development Bank (HDB) proposed a cash dividend distribution of EGP 2.5 per share for 2017 profits. Total dividends for shareholders amount to EGP 316.26 million, versus dividends worth EGP 253 million for 2016, the …
2 hours ago Banque de France, IMF ink $2.9bn loan to low-income countries
The Banque de France and the International Monetary Fund (IMF) have signed a contract with the aim of funding nations suffering from low income
This will not delay the ministry’s plan to raise electricity tariffs by next July
2 hours ago Egypt to totally lift electricity subsidy by FY20/21- Minister
Cairo – Mubasher: The Egyptian electricity ministry is planning to completely phase out electricity subsidy by the beginning of fiscal year 2020/2021, instead of FY19/20, minister Mohamed Shaker said in a seminar organised by the American Chamber …
2 hours ago Fed bears out optimism about higher growth
Mubasher: The US Federal Reserve expects higher growth rates than it previously forecast, which could allow for higher interest rates, according to BBC World News.
2 hours ago German business morale drops in February
Gross domestic product (GDP) of Europe's biggest economy is expected to increase 0.7% in the first quarter of 2018
Italy’s Salini Impregilo wins SAR 4.87bn construction contract in KSA
2 hours ago Italy’s Salini Impregilo wins SAR 4.87bn construction contract in KSA
Riyadh – Mubasher: Salini Impregilo on Thursday said that it has won a SAR 4.87 billion ($1.3 billion) contract from Saudi Arabia National Guard. The contract entails building 6,000 villas, as well as providing urban planning and housing services …
Bahrain Kuwaiti Insurance has a capital of BHD 7.2 million
2 hours ago Bahrain Kuwaiti Insurance proposes dividends, bonus
Mubasher: The board members of Bahrain Kuwaiti Insurance recommended distributing cash dividends and bonus shares for fiscal year 2017. Bahrain Kuwaiti Insurance proposed 25% and 100% of paid-up capital as a cash dividend and a bonus share, …
Unionaire Group has selected CI Capital to manage its potential IPO
2 hours ago Unionaire Group to float stake on EGX in H1-18
Cairo – Mubasher: The Egypt-based Unionaire Group is planning to be listed on the Egyptian Exchange (EGX) this year to pave the way for floating a stake on the local stock market in the second half of 2018. The electronics manufacturing firm has …
3 hours ago UK GDP rises 0.4% in Q4
The UK has revised its gross domestic product (GDP) for the fourth quarter of 2017 to an increase of 0.4%
3 hours ago Host Hotels to acquire 3 hotels in US for $1bn
The contract comes with a $25 million deposit at-risk
Net profit amounted to EGP 1.08 billion last year
3 hours ago HDB profits rise 68% in 2017
Cairo – Mubasher: The unaudited financial indicators of Housing and Development Bank (HDB) on Thursday showed a 67.7% year-on-year surge in standalone profits for 2017. Net profit amounted to EGP 1.08 billion last year, versus EGP 644 million …
NBK Egypt logs 77% increase in 2017 profits
3 hours ago NBK Egypt profits hike 77% in 2017
Cairo – Mubasher: National Bank of Kuwait of Egypt (NBK) on Thursday reported a 77% year-on-year surge in standalone profits for 2017. Net profit totalled EGP 1.5 billion last year, compared to EGP 848.9 million at the end of 2016, the bank said …
The UAE-based company launched ADbase
3 hours ago ADNOC, Swiss Chemlube ink oil sales agreement
Abu Dhabi – Mubasher: The Abu Dhabi National Oil Company (ADNOC) has concluded an exclusive agreement with Switzerland’s Chemlube S.A. to appoint it as the exclusive seller of its Group III Base Oil product in Europe, the UAE-based energy group …
ENPPI will offer a 24% stake on the EGX by the end of 2018
3 hours ago Enppi to float 24% stake on EGX end-2018
Cairo – Mubasher: Engineering for the Petroleum & Process Industries (ENPPI) will offer a 24% stake on the Egyptian Exchange (EGX) by the end of 2018, chairperson Mohamed Hathout told Alborsa News. The state-owned company is currently completing …