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6 December 05:33 PM Fintactics launches new ventures, enters partnerships during Saudi Arabia’s World Fintech Show
Riyadh – Mubasher: The World Fintech Show has witnessed the launch of new ventures Holoul and Leza'am by Fintactics, which also signed partnership agreements with Aion Digital and Bitfy Holdings. The event, which kicked off on 5 December in …
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6 December 04:36 PM Seedstars to develop VC managers in emerging markets
Mubasher: Switzerland-based Seedstars has launched its investment arm Seedstars Capital for emerging venture capital (VC) fund managers across the Middle East and other emerging markets with the support of xMultiplied, a Swiss-based investment …
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6 December 04:16 PM Saudi TDF inks financing deal for development project in Asir
Riyadh - Mubasher: Saudi Tourism Development Fund (TDF) has inked a financing agreement with Nama Alamal to develop a five-star hotel managed by IHG Group. To be established under the Intercontinental brand, the scheme includes 163 hotel units …
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6 December 02:13 PM Saudi Arabia’s PMI jumps to 58.5 in November
Riyadh – Mubasher: Saudi Arabia’s headline seasonally adjusted Purchasing Managers’ Index (PMI) increased for the second month in a row during November 2022 to 58.5 from 57.2 last October, according to Riyad Bank’s data. The PMI, which was above …
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6 December 12:54 PM Saudi Arabia cuts January oil prices to Asia to 10-month low
Riyadh – Mubasher: Saudi Arabia cut the January 2023 official selling price (OSP) for its flagship Arab Light crude for Asian buyers to a 10-month low, on concerns over a drop in demand and a potential increase in Russian competition. The Saudi …
Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank
5 December 05:38 PM Mobile apps see over $2.7 daily transactions – World Bank’s Abu Sulaiman
Riyadh – Mubasher: Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank, stated that transactions worth more than $2.70 billion are being traded on a daily basis through mobile applications. Abu Sulaiman highlighted that …
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5 December 05:15 PM Saudi Arabia launches initiative to stimulate investment in local industrial sector
Riyadh – Mubasher: Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Al Khorayef, announced launching an initiative to encourage the local industry with the aim of stimulating investment in the industrial sector and increasing …
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5 December 04:57 PM Riyadh Chamber of Commerce contributed to building over 40 fintech startups – Official
Riyadh – Mubasher: Riyadh Chamber of Commerce has been part of setting up more than 40 startups in the financial technology (fintech) sector since 2016 until the present time, said Mansour Al Obaid, who serves as the Chairman of Information and …
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5 December 04:07 PM World Fintech Show kicks off in Saudi Arabia
Riyadh – Mubasher: The World Fintech Show has launched today, 5 December, in Saudi Arabia’s capital Riyadh at InterContinental Riyadh.   The event aims to connect the world’s fintech innovators with enterprises, investors, policymakers, startups, …
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5 December 01:27 PM Future Minerals Forum enters new partnerships for 2nd edition
Riyadh – Mubasher: The Future Minerals Forum (FMF) unveiled new partnerships with think tank entities and research institutions as part of its preparations to host the second edition of the forum next year in Riyadh. The collaboration will be with …
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4 December 04:06 PM Saudi NWC starts implementing water projects worth over SAR 4.3bn
Riyadh – Mubasher: Saudi Arabia's National Water Company (NWC) has commenced the implementation of desalinated water distribution system projects in the cities of Dammam, Khobar, Ahsa, and Qatif. The SAR 4.30 billion projects will supply these …
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4 December 01:36 PM Dividend Gate Capital to develop, enhance healthcare outlook in GCC
Mubasher: Dividend Gate Capital (DGC) seeks to strengthen its healthcare portfolio in the GCC region through acquisitions and partnerships of fast-growing healthcare institutions, including Specialized Eye Centers, Medical Residency Screening …
Khalid Al Mudaifer, Vice-Minister for Mining Affairs, Ministry of Industry and Mineral Resources
1 December 07:41 PM Saudi Arabia seen to become leader in sustainable production of metals
Riyadh – Mubasher: International delegates and global mining investors were addressed how Saudi Arabia can become a global leader in the sustainable and innovative production of minerals and metals given that the energy transition from …
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1 December 02:50 PM Egypt’s state grains buyer offers 10K tonnes of Russian wheat via EMX
Cairo - Mubasher: Egypt’s Ministry of Supply and Internal Trade said that the General Authority for Supply Commodities (GASC) offered on 30 November 2022 a total of 10,000 tonnes of imported Russian wheat, Ahram Gate reported on Thursday. The …
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1 December 11:07 AM OIC member states log $63bn trade deficit for halal economy products in 2021
Mubasher: The member states of the Organisation of Islamic Cooperation (OIC) have registered a trade deficit of $63 billion for halal economy products in 2021, according to the 2022 Annual OIC Halal Economy Report. Last year, total halal product …
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30 November 04:45 PM Saudi Arabia extends terms of $5bn deposit for CBE
Riyadh – Mubasher: Saudi Arabia has extended the term of a deposit valued at $5 billion for the Central Bank of Egypt (CBE), Saudi Press Agency (SPA) reported.  The decision comes in line with the Kingdom's objective to boost cooperation between …
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30 November 09:44 AM UAE’s strong economy to pull in more foreign investments - Al Tamimi Investments
Dubai - Mubasher: Robust investment flows to the UAE are expected in the coming years thanks to the country’s consistent strong economic performance, steady growth, and ambitious development plans in the next 50 years, says Al Tamimi Investments. …
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29 November 04:13 PM Bioventure, Minapharm, MiGenTra to commercialise multiple biosimilar candidates of Alvotech
Mubasher: Dubai-based Bioventure, Minapharm Pharmaceuticals, and MiGenTra GmbH have signed an exclusive licence agreement for the commercialisation of multiple biosimilar candidates developed and manufactured by Alvotech, in Egypt and eighteen …
Osmar Chohfi, President of ABCC
27 November 03:32 PM Brazilian exports to Arab world exceed $14bn in 10M-22
Mubasher: The Arab Brazilian Chamber of Commerce (ABCC) has announced an annual increase of 25.71% in Brazilian exports to the Arab countries during the first ten months (10M) of 2022 at $14.47 billion from $11.51 billion. Brazilian exports to the …
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27 November 09:51 AM Saudi Arabia becomes 1st Gulf state to chair UNWTO Executive Council
Mubasher: Saudi Arabia has become the first GCC country to chair the United Nations World Tourism Organization (UNWTO) Executive Council. The election took place at the UNWTO’s 117th Executive Council meeting in Marrakesh, Morocco. The move …
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24 November 09:38 PM Saudi Arabia’s non-oil exports hit SAR 78.4bn in Q3-22; up 9.7% in September
Riyadh - Mubasher: Saudi Arabia's non-oil exports, including re-exports, surged by 13.10% year-on-year (YoY) to SAR 78.40 billion in the third quarter (Q3) of 2022, compared to SAR 69.40 billion.  Overall merchandise exports amounted to SAR 399.70 …
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24 November 04:46 PM ACWA Power’s unit raises ACWA39 bond’s value by $28m
Riyadh – Mubasher: ACWA Power Management and Investments One Limited (APMIOne), a wholly-owned subsidiary of ACWA Power Company, increased the partial purchase value of its ACWA39 bond to $428 million from $400 million. The tender and acceptance …
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24 November 10:01 AM Foodics, Paymob to fuel digital transformation of Egypt’s F&B sector
Cairo - Mubasher: Leading restaurant management solution in MENA Foodics and Paymob signed a partnership agreement in cooperation with Banque Misr, as the acquiring bank, to empower the food and beverage (F&B) sector in Egypt to thrive in the …
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23 November 04:43 PM DMCC digitises gold trading through tokenisation of Comtech Gold bullion
Dubai - Mubasher: DMCC announced a partnership with Comtech Gold to digitise the trading of gold by tokenising the precious metal backed by physical gold bars registered on DMCC Tradeflow. DMCC Tradeflow is an online platform for registering the …
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23 November 04:11 PM Elsewedy Electric to establish new firm in KSA
Cairo – Mubasher: Elsewedy Electric Co’s board of directors approved the establishment of a new company in Saudi Arabia with a SAR 500,000 capital in accordance with the systems of the Saudi companies and the Ministry of Investment. The company …