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Finastra's solutions cover 90% of banks’ needs
20 January 11:19 AM Interview: We look to repeat Finastra Egypt Digital Trade Forum – Serge Tohme
Mubasher: Finastra was founded in 2017 from the merger of two fintech giants, D+H, a leading financial technology provider and Misys, which provides software solutions focused on retail and corporate banking services. Serge Tohme, Managing …
US Department of the Treasury
19 January 01:35 PM Saudi Arabia raises investments in US treasury bonds
Riyadh – Mubasher: Saudi Arabia has increased investments in US treasury bonds by 5.77% year-on-year (YoY) last November, as shown by official data. Saudi investments in US treasury bonds amounted to $179.7 billion, compared with SAR 169.9 billion …
Iron prices have dropped by EGP 300 per tonne since the beginning of the week
15 January 03:28 PM Iron prices to further decline as EGP levels up
By: Abdullah Bedeir Cairo – Mubasher: Iron prices are expected to further decline in the coming period, Ahmed El-Zeiny, the head of chamber of building materials at the Federation of Egyptian Chambers of Commerce (FEDCOC) told Mubasher. With the …
The benchmark index of the Saudi exchange lost 74.86 points today
8 January 05:11 PM TASI loses 0.91% at Wednesday's close on geopolitical risks
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Wednesday’s trading session in decline, on the back of a positive performance by most market sector due to rising geopolitical tensions across the region. The Tadawul All Share Index …
The Industrial Production (IIP) recorded 125.12 points
8 January 04:01 PM Saudi Arabia’s IIP down 4.3% in November – GaStat
Riyadh – Mubasher: The Saudi Index of Industrial Production (IIP) declined by 4.3% on a monthly basis during last November. The monthly bulletin by the General Authority for Statistics (GaStat) for November showed that the index recorded 125.12 …
Bank credit recorded SAR 1.532 trillion by the end of last November
8 January 12:34 PM Bank credit in Saudi Arabia up 5.3% in November
Riyadh – Mubasher: Bank credit in Saudi Arabia grew by 5.3% year-on-year (YoY) by the end of November, increasing by SAR 77.42 billion to SAR 1.532 trillion, compared with SAR 1.455 trillion in November 2018. On a monthly basis, bank credit …
Bahrain launched Cloud First Policy in 2017
7 January 03:58 PM Pakiza Abdulrahman: Gov’t leads cloud adoption in Bahrain; private sector is following – Interview
By: Ingy ElSafy & Moslem Ali Mubasher: Startup Bahrain is a national initiative launched in 2016 for the purpose of facilitating all tools required for small business to build and establish themselves while growing into international and regional …
Photo Archive
7 January 12:05 PM Saudi consumer spending rises by SAR 40bn in 11M
Riyadh – Mubasher: Consumer spending in Saudi Arabia rose during the first eleven months of last year by 4.5% or SAR 39.92 billion, on the back of the increased point of sales (POS) operations. Saudi consumer spending reached SAR 934.37 billion in …
TASI ended the session at the level of 8,206.13 points
6 January 04:59 PM TASI rises 0.15% at Monday’s close
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Monday’s trading in the green zone, after a mixed performance that was impacted by the rising geopolitical tensions, before closing the session in gains supported by the rise of the …
PIF aims to raise its assets to more than $2 trillion by 2030
5 January 04:56 PM Saudi Arabia’s global investments exceed $1.1trn
Riyadh – Mubasher: Saudi investment assets abroad grew by 8.86% or SAR 346.94 billion ($92.5 billion) to reach SAR 4.26 trillion ($1.14 trillion) by the end of the third quarter (Q3) of 2019, as shown by the Saudi Arabian Monetary Authority’s …
Bank investments in bonds reached SAR 379.95 billion by the end of November
2 January 11:48 AM Saudi Banks increase investments in gov’t bonds
Riyadh – Mubasher: Banks operating in Saudi Arabia increased its investments in government-issued bonds during November by 25.2% on an annual basis, equivalent to SAR 76.56 billion. The banking sector investments in bonds reached SAR 379.95 …
Private sector contribution to GDP increased to 41.9% in Q3
2 January 11:11 AM Saudi private sector achieves highest growth in 5 years
Riyadh – Mubasher: The Saudi private sector maintained growth in 2019, supported by government initiatives to raise its contribution to the Kingdom’s gross domestic product (GDP) in line with the goals of Vision 2030. During the third quarter (Q3) …
TASI achieved gains in 2019 for the fourth year in a row
1 January 02:29 PM The year 2019 was special for Tadawul - Analysts
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) achieved gains in 2019, rising for the fourth consecutive year, with a more than SAR 7 trillion ($1.9 trillion) leap in market capitalization supported by newcomer Saudi Aramco, which joined …
In only 11 months, POS sales already hit a new annual record at SAR 275.4 billion
31 December 2019 00:29 PM Saudi POS sales up 30% in November to new record
Riyadh – Mubasher: Sales transaction through points of sale (POS) across Saudi Arabia continued to rise during November, reaching its second-highest level in 2019. POS sales increased by 30.1% or SAR 5.98 billion and amounted to SAR 25.85 billion …
Remittances reached SAR 113.97 billion by the end of November
30 December 2019 04:15 PM KSA expat remittances down to $30.4m in 11M
Riyadh – Mubasher: Remittances by expatriates living in Saudi Arabia decreased during the first 11 months of 2019 by around 8.9% or SAR 11.15 billion to a total of SAR 113.97 billion ($30.39 billion). Last month, expat remittances levelled up by …
Investments amounted to SAR 1.739 trillion in Q3
30 December 2019 02:07 PM Foreign investments in Saudi Arabia grow 14%
Riyadh – Mubasher: Foreign investments in Saudi Arabia grew 13.7% year-on-year (YoY), by the end of the third quarter (Q3) of 2019. Foreign direct investment (FDI), alongside portfolio and other foreign investments, increased by SAR 210.13 billion …
Startups do not repay the funding since it is a grant by Tamkeen
26 December 2019 05:31 PM How can non-local startups get grants in Bahrain? – Interview with Pakiza Abdulrahman
 By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Startups endure several challenges in obtaining financing rounds, but this may not be an issue for a foreign startup if it decides to set up in Bahrain. Pakiza Abdulrahman, Manager of Business …
Total Saudi non-oil exports to GCC reached SAR 3.82 billion in October
26 December 2019 02:11 PM Saudi non-oil exports to GCC rise 5% in October
Riyadh – Mubasher: Non-oil exports from Saudi Arabia to member countries of the Arabian Gulf Cooperation Council (GCC) increased by SAR 133 million ($35.5 million) or 5.2% year-on-year (YoY) during October 2019. Saudi exports of national origin to …
Salma is the Arabic version of Google Home and Amazon Alexa
26 December 2019 02:08 PM Story behind first Arabic voice assistant ‘Salma’ – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Salma, the first Arabic personal digital assistant developed by Mawdoo3, was among tech startup success stories featured in the recent RiseUp Summit, held in Cairo on 5-7 December. Mubasher visited …
Pakiza Abdulrahman, Manager of Business Development for Startups at EDB
22 December 2019 00:20 PM Pakiza Abdulrahman: We encourage Egyptian startups to set up in Bahrain – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Bahrain is opening its arms for Egyptian startups with flexible and progressive sentiment, and is keen on doing what is best for organizations, startups, and regulators, as described by Pakiza …
Vera Futorjanski during a panel at RiseUp Summit 2019
22 December 2019 10:50 AM Vera Futorjanski: Startups must focus on solving local challenges – Interview
By: Ingy ElSafy & Moslem Ali Cairo – Mubasher: Vera Futorjanski, Director of Innovation and Partnerships at 500 Startups, recently participated in the RiseUp Summit 2019, held in the American University in Cairo (AUC) on 5-7 December, where she …
The price of flight tickets soared more than 70%
21 December 2019 04:22 PM UAE hotels to see record occupancy levels on Christmas holidays
By: Mahmoud Gamal UAE – Mubasher: Emirati airports and hotels are preparing to receive a record level of occupancy and bookings with the beginning of the New Year’s holidays. Emirates Group, Dubai Airports Company, and Dubai’s Roads and Transport …
The Kingdom’s total imports reached SAR 138.23 billion
19 December 2019 05:54 PM Saudi Arabia records SAR 98bn trade surplus in Q3
Riyadh – Mubasher: Saudi trade balance surplus narrowed during the third quarter (Q3) of 2019, as shown by the most recent data of the Saudi General Authority for Statistics (GaStat). Trade surplus amounted to SAR 97.85 billion, decreasing by …
Saudi crude exports increased by 388,000 b/d in October
19 December 2019 09:44 AM Saudi crude exports at 6M high in October
Riyadh – Mubasher: Saudi oil exports increased in October to its highest level in six months, as shown by the Joint Organisations Data Initiative (JODI) numbers. The Kingdom’s crude exports increased by around 388,000 barrels per day (b/d) to …
Average steel prices decreased 0.99% in November compared with October
18 December 2019 06:26 PM Saudi steel prices down 1%; cement hits 3-year high
Riyadh – Mubasher: Steel prices in Saudi Arabia maintained its downward trend during November, for the seventh consecutive month, reaching its second-lowest level during 2019. Recent data by the Saudi General Authority for Statistics …