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23 May 04:39 PM

Banking

​Meras e-services are linked with 22 government agencies
4 hours ago Saudi e-commercial registrations surge 64% in 2018
Riyadh – Mubasher: The E-commercial registrations in Saudi Arabia have increased by 64% during 2018 compared to in 2017. The commerce and investment ministry of Saudi Arabia showed that E-commercial registrations in 2018 totalled about 3,190 when …
Sector Reports
NBK Research also predicts regional issuance to remain solid in 2019
11:32 AM GCC bond, sukuk issuance surges $32bn in Q1– NBK Research
Mubasher: The issuance of bonds and sukuk in the Gulf region has soared by $32 billion during the first quarter of 2019. The surge in Q1 bond and sukuk issuance in the GCC has raised outstanding debt in the region to $478 billion. Meanwhile, …
Macroeconomics
The USD-EGP exchange rate settled at EGP 16.9 for buying at NBE
11:07 AM USD stabilises against EGP early Thursday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Thursday at 18 banks. The USD rate remained stable at EGP 16.9 for buying and EGP 17 for selling at National Bank of Egypt (NBE), Banque Misr, and …
Banking and Finance
The agreement will provide finance for modern technology projects
22 May 11:17 PM Saudi telecom ministry, Social Development Bank to support tech projects
Riyadh – Mubasher: Saudi Arabian Ministry of Communication and Information Technology has signed a cooperation agreement with Social Development Bank (SDB). The agreement aims at supporting and incentivising projects and activities relevant to …
Companies Investments
Egypt’s foreign currency reserves registered $44.2 billion last April
21 May 02:21 PM EGP edges up against USD Tuesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian Pound slid by 1 to 2 piasters during Tuesday’s mid-trade at banks. The USD exchange rate fell by 2 piasters to EGP 17.01 for buying and EGP 17.09 for selling at Abu Dhabi Islamic …
Currencies
SAR 1 billion will be injected in Istidama [Sustainability] programme
21 May 12:41 PM Social Development Bank to inject SAR 5bn financing in projects
Riyadh – Mubasher: The Social Development Bank (SDB) plans to allocate around SAR 5 billion to finance projects across Saudi Arabia over the coming five years, Ibrahim Al Rashid, general manager of SDB, told Al Eqtisadiah newspaper. Up to 80% of …
Macroeconomics
The USD-EGP exchange rate settled at CIB at EGP 16.99 for buying
19 May 11:00 AM USD stabilises against EGP Sunday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Sunday at 18 banks. The USD has been steady against the EGP at National Bank of Egypt (NBE) and Arab African International Bank (AAIB) at EGP 16.99 …
Currencies
Saudi holdings of US government bonds levelled up 1.8% month-on-month in March
16 May 11:19 AM Saudi Arabia’s US Treasury holdings hit $170bn in March
Riyadh – Mubasher: Saudi Arabia raised its holdings of the US Treasuries by 12.4% year-on-year in March. The kingdom’s holdings of US debt instruments amounted to $170 billion by the end of March, compared to $151.2 billion in March 2018, …
Macroeconomics
The creditor objection period starts on Thursday, 16 May
16 May 11:06 AM Alawwal Bank’s board approves SABB’s merger offer
Riyadh – Mubasher: The extraordinary general assembly of Alawwal Bank approved the offer by the Saudi British Bank (SABB) in connection with the proposed merger. The merger will take place through the issuance of 0.48535396 new SABB shares for …
Mergers and Acquisitions
Autonomous transport something that the UAE is already actively involved in
16 May 10:44 AM Genomic medicine amid UAE’s goals in Fourth Industrial Revolution – Colliers
Mubasher: The Fourth Industrial Revolution (4IR) is becoming an endorsing factor for economies all over the world and it is currently being seen in various sectors such as real estate, banking, entertainment, healthcare, and the new trend of …
Companies Investments
The capital increase shall become effective upon the merger becoming effective
16 May 10:38 AM SABB’s EGM approves merger with Alawwal bank, 37% capital raise
Riyadh – Mubasher: The extraordinary general meeting (EGM) of the Saudi British Bank (SABB) approved the proposed merger of SABB and Alawwal bank through the issuance of 0.48535396 new SABB shares for every share in Alawwal bank subject to the …
Corporate Actions
The card will provide many advantages for SMEs
15 May 12:41 PM FAB launches ‘World’ credit card for SMEs
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB), in collaboration with global payments giant Mastercard, will launch “World” credit card, which is the first of its kind in the UAE, for small and medium enterprises (SMEs). The card will provide …
Banking and Finance
The USD-EGP exchange rate settled at EGP 17.06 for buying at CIB
13 May 11:55 AM USD stable against EGP at 18 national banks Monday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Monday at 18 national banks. The USD has stabilised against the EGP at National Bank of Egypt (NBE) and Arab African International Bank (AAIB) at …
Banking and Finance
The USD rate inched down at NBE
10 May 12:20 AM US dollar rate declines 4 piasters against EGP
Cairo – Mubasher: The Egyptian pound exchange rate grew against the US dollar at some Egyptian banks on Thursday. The USD rate inched down EGP 0.03 to EGP 17.08 for buying and EGP 17.15 for selling at National Bank of Egypt (NBE) and Arab African …
Currencies
The new finance aims at supporting Alfanar’s renewables energy projects
8 May 02:33 PM APICORP inks $75m Murabaha facility with Alfanar Co
Riyadh – Mubasher: The Arab Petroleum Investments Corporation (APICORP) has signed a five-year Murabaha financing facility with the Saudi-based Alfanar Company (Alfanar), one of the leading developers and engineering, procurement and construction …
Banking and Finance
The USD has stabilised against the EGP at NBE and AAIB
8 May 11:46 AM USD stable against EGP at 18 national banks Wednesday
Cairo – Mubasher: The US dollar exchange rate against the Egyptian pound has stabilised earlier on Wednesday at 18 national banks. The USD has stabilised against the EGP at National Bank of Egypt (NBE) and Arab African International Bank (AAIB) at …
Banking and Finance
The revolving credit facility will be renewed annually
8 May 12:16 AM MEPCO secures SAR 169m loan from NCB
Riyadh – Mubasher: Middle East Paper Co. (MEPCO) has secured SAR 169 million sharia-compliant credit facility from National Commercial Bank (NCB). The revolving credit facility will be renewed annually on 31 August, according to a bourse statement …
Companies Investments
NCB’s profit grew 19.6% QoQ
7 May 09:00 PM Tadawul-listed banks post over SAR 14bn profit in Q1
By: Mahmoud Gamal Riyadh – Mubasher: Banks listed on the Saudi Stock Exchange (Tadawul) saw positive performance during the first quarter of 2019. A number of 12 Tadawul-listed banks reported a 12.7% year-on-year profit increase in Q1-19, …
Banking and Finance
EXtra will provide a wide variety of services including instalment sales.
7 May 02:16 PM Saudi eXtra’s unit obtains consumer finance licence
Riyadh – Mubasher: United Electronics Company (eXtra) said that its subsidiary, United Company for Financial Services, has obtained the Saudi Arabian Monetary Authority’s (SAMA) approval to provide consumer finance services in the kingdom. The …
Central Banks
Alawwal bank’s total assets amounted to SAR 79.6 billion in Q1-19
7 May 09:47 AM Alawwal Bank logs SAR 220m profit in Q1
Riyadh – Mubasher: Alawwal Bank posted a 23.3% year-on-year fall in its profits for the first quarter of 2019, recording SAR 219.5 million. The decline in Q1-19 profit was attributed to higher cost of risk, up by 31.4% compared to Q1-18, according …
Financial Results
The total number of sold shares reached 119,138
7 May 09:31 AM Bank Albilad completes selling fractions of shares
Riyadh – Mubasher: Bank Albilad has completed the selling of the fractions of shares arising out of the bank’s capital increase into shareholders’ portfolios. The move was taken based on the approval of the bank’s extraordinary general assembly, …
Banking and Finance
International reserves stood at $44.218 billion at the end of April
6 May 01:12 PM Egypt’s foreign reserves rise to $44.2bn in April
Cairo – Mubasher: Egypt’s foreign reserves increased by around $106 million in April, data by the Central Bank of Egypt (CBE) showed. The country’s international reserves stood at $44.218 billion at the end of April, versus $44.112 billion in …
Banking and Finance
Marassi Al Bahrain will feature 6,000 residences
5 May 02:14 PM Eagle Hills inks $374m syndicated financing to build Marassi Galleria
Mubasher: Eagle Hills Diyar has signed a $374 million financing agreement with a syndicate of banks from UAE and Bahrain to finance the construction of Marassi Galleria, Address Hotel and VIDA Hotel. “The syndicated financing underscores the …
Banking and Finance
The 10-year sukuk carries a return of 3.890%
5 May 12:39 PM STC closes $1.25bn 1st US dollar sukuk issue
Riyadh – Mubasher: The Saudi Telecom Co (STC) announced that its subsidiary, STC Sukuk Company Limited, has completed the offering of its first international US dollar-denominated sukuk worth $1.25 billion (SAR 4.7 billion). The issue comprises …
Sukuk and Islamic Finance
FAB is looking forward to boosting its footprint across the kingdom
2 May 04:42 PM FAB opens 1st branch in Saudi Arabia
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has officially opened its first branch in Saudi Arabia in Al Cayan Tower, Riyadh, the UAE's biggest bank by assets said in a statement on Thursday. The new branch comes along with FAB’s expansion …
Macroeconomics