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15 February 12:22 PM Oil begins Friday near stability
Mubasher: Oil went up on Friday, supported by the output cuts led by OPEC and the shutdown of a Saudi offshore oilfield.
13 February 05:29 PM German Thyssenkrupp unveils restructure plan for steel, industrial business
Mubasher: Germany’s Thyssenkrupp AG has announced a restructuring plan under which the company will split its steel and industrial business.
Circular mobility can lead to cumulative benefits of $69 billion in the GCC region within the next decade
12 February 05:06 PM GCC region can save $138bn by circular economy by 2030 – Report
Mubasher: The GCC region can save about $138 billion by 2030 by adopting a circular economic approach, corresponding to about 1% of the region’s cumulative gross domestic product (GDP) from 2020 to 2030, according to a new research. The existing …
12 February 12:02 PM Oil climbs on OPEC output curbs; US sanctions kick in
Oil prices rose on Tuesday as supply curbs by the Organization of Petroleum Exporting Countries and US sanctions against Iran and Venezuela bit.
OOMCO’s expansion plans include investing in Tanzania’s fuel retail market
11 February 01:17 PM Oman Oil Marketing eyes expansion in Saudi Arabia, Tanzania
Mubasher: Oman Oil Marketing Company (OOMCO) announced plans to further continue its global expansion in Saudi Arabia and Tanzania. OOMCO aims to achieve strategic growth by introducing its one-stop-shop service stations internationally, Times of …
The average interest rate on government treasury bills and bonds has been raised to 18.6% in this year’s estimates
11 February 11:20 AM Egypt raises average USD exchange rate in FY18/19 budget
Cairo – Mubasher: The Egyptian Ministry of Finance (MoF) has raised the average exchange rate of the US dollar to EGP 18 in its initial estimates of the state’s 2018/2019 budget, versus an earlier estimated average of around EGP 17.25. The average …
Castrol is currently investing around EGP 100 million ($5.69 million) per year in Egypt
10 February 05:16 PM Castrol eyes 2-7% stake in Egypt’s lubricant market in 2 yrs - VP
Cairo – Mubasher: The Egyptian unit of Castrol, the UK BP’s global lubricant brand, is looking to acquire a stake ranging between 2% and 7% of Egypt’s engine oil and lubricant market during the coming two years, the firm’s vice president for the …
Saudi robot Sophia to participate in MEA FinTech Forum in Bahrain
10 February 01:50 PM Saudi robot Sophia to participate in MEA FinTech Forum in Bahrain
Riyadh – Mubasher: Saudi Arabia on Sunday announced that its citizen robot Sophia will attend the upcoming Middle East and Africa (MEA) FinTech Forum which will start on Thursday, 21 February in Bahrain. The forum will explore how artificial …
The company’s profits after calculating Zakat and Tax plunged to SAR 1.8 billion for the full year 2018
6 February 10:02 AM SEC profit falls 74% in 2018
Riyadh – Mubasher: The Saudi Electricity Company (SEC) on Wednesday reported a 32% year-on-year decline in net losses during the fourth quarter of 2018, while profits slumped 74% for the full fiscal year of 2018. The Saudi electric utility’s …
20 January 04:22 PM Wyndham to launch 3 hotels in Dubai by 2021 -Interview
Wyndham Hotels and Resorts is planning to expand in Dubai through building three hotels over the coming two years
The facilities will be divided into two tranches
29 November 2018 09:44 AM Saudi Electric to ink $2.15bn credit facilities Thursday
Riyadh – Mubasher: Saudi Electricity Co. will sign an international syndicated revolving credit facilities agreement worth $ 2.15 billion (SAR 8.06 billion) on Thursday. The facilities will be divided into two tranches; the first values at $1.58 …
(Photo archive)
2 April 2017 03:52 PM Farm Superstores, NBK ink SAR 105m credit facility
Riyadh – Mubasher: Saudi Marketing (Farm Superstores) signed a credit facility agreement with the National Bank of Kuwait (NBK). The SAR 105 million financing will be dedicated to the company’s capital expenses, according to a bourse filing on …
(Photo Credit: Company website)
8 March 2017 04:02 PM Jabal Omar gets nod to boost investment spaces in Makkah project
Riyadh – Mubasher: Jabal Omar Development on Wednesday announced receiving an approval from the Makkah Region Development Authority to increase the number of investment spaces in its Makkah project. The new buildings will be added to the fifth, …