Local Economy

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. …

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 …

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 …

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 …

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 …

Dubai - Mubasher: Dubai Financial Market (DFM) has launched its new general index culminating the successful accomplishment of a comprehensive transformation of its indices’ methodology. The developed indices provide various market participants …

Cairo – Mubasher: Egypt's Minister of Planning, Hala El-said, witnessed the signing of a number of agreements and cooperation protocols between the Sovereign Fund of Egypt (TSFE) and a number of developers worth $83 billion in the renewable energy …

Dubai - Mubasher: Metaverse represents a major new market for telcos with early estimates of the overall size of the metaverse opportunity to be around $13 trillion by 2030, according to a report by Arthur D. Little (ADL).   Ericsson for example …

Cairo – Mubasher: The Saudi Minister of Energy, Prince Abdulaziz bin Salman, announced the inauguration of three new projects to enhance the kingdom’s national and regional climate action.  The minister's remarks were made during the second day of …

UAE – Mubasher: Abu Dhabi Airports plans to set up advanced biometric technology, which provides a touchless boarding experience that uses a passenger’s facial features as their passport, according to a recent press release. The passengers …

Riyadh - Mubasher: Almosafer and Visit Oman have signed a partnership agreement at World Travel Market to boost leisure tourism to Oman from Saudi Arabia, Kuwait, and the UAE.   Under the agreement, Almosafer’s consumer business will run a 360 …

Riyadh – Mubasher: The Capital Market Authority (CMA) approved some 116 capital increase requests by listed companies from January 2018 to the end of the first half (H1) of 2022, with a value surpassing SAR 100 billion. This reflects CMA's role in …

Cairo – Mubasher: Rania El-Mashat, Egypt’s Minister of International Cooperation, has been selected to be part of the Global Leaders' Council of the United Nations Initiative (Generation Unlimited). Kevin Frey, Executive Director of the Generation …

Cairo - Mubasher: Fertiglobe, the strategic partnership between ADNOC and OCI, announced the start of the commissioning of the first phase of the green hydrogen plant in Egypt's Ain Sokhna, during an event at COP27.  The event was attended by …

Cairo – Mubasher: ACWA Power Company signed a memorandum of understanding (MoU) with Oman Investment Authority (OIA) to explore bringing the sovereign wealth fund on as an investor for the 1.1GW Suez wind energy project in Egypt.  According to the …

Abu Dhabi – Mubasher: The Middle East, Africa & Asia Crypto & Blockchain Association (MEAACBA) has launched its business in Abu Dhabi, a pivotal step forward in the development of accessible, transparent, and compliant crypto-blockchain …

Dubai – Mubasher: DP World plans to invest up to $500 million to cut CO2 emissions from its operations by nearly 700,000 tonnes over the next five years, Emirates News Agency (WAM) cited the company’s Chairman and Group CEO, Sultan Ahmed bin …

Riyadh - Mubasher: The Arab Petroleum Investments Corporation (APICORP), an energy-focused multilateral financial institution, announced the signing of a $75 million Murabaha agreement in favor of Hartree Partners Power & Gas Company (UK) Limited, …

Cairo – Mubasher: UK Representative, the UN climate summit (COP26) President, Alok Sharma, handed over the presidency of the annual climate gathering to Egypt’s Minister of Foreign Affairs, Sameh Shoukry, who is president designate of COP27. The …

Cairo – Mubasher: DM Development signed a memorandum of understanding (MoU) with the German integrated property management provider, Apleona, to establish the first therapeutic and recreational destination in Egypt and the Middle East.  Founded …

Cairo – Mubasher: The 27th edition of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP27) kicked off on Sunday in the Egyptian Red Sea resort of Sharm El-Sheikh. Taking place during 6-18 November …

Mubasher: Several companies in the GCC region have a strong position to absorb interest-rate hikes which lower businesses' ability to repay debts, Moody's Investors Service stated in a recent report. Moody's predicted that investment-grade …

Cairo – Mubasher: Mahmoud Mohieldin has been unanimously re-elected as an Executive Director and board member at the International Monetary Fund (IMF), representing Egypt and a number of Arab States, Ahram Gate reported. The group of Arab states …