UAE Emerging as a Major Investor in Africa with $59.4 Billion in Foreign Direct Investment
Abu Dhabi – Mubasher: The UAE has entered strongly in the competition for the investment market in Africa, as foreign direct investment flows from the UAE to Africa amounted to about $59.4 billion between 2012 and 2022. The African website said that Africa has become one of the most important markets in the UAE, as […]
Oil Prices Rise on Optimism of OPEC+ Alliance Extending Production Cuts
Mubasher: Oil prices rose at the settlement of trading today, Thursday, with market optimism that countries from the “OPEC +” alliance will extend implementation of decisions to voluntarily reduce crude production and exports, before their upcoming meeting. The Saudi Press Agency quoted an official source in the Ministry of Energy as saying that Saudi Arabia […]
Impressive Growth and Profits for International Holding Company in First Half of 2023
Abu Dhabi – Mubasher: The International Holding Company announced that it achieved net profits during the first half of the year 2023, by about 10.4 billion dirhams, compared to profits of 10.35 billion dirhams in the first half of the year 2022. The company’s revenues rose to 28.7 billion dirhams in the first half, a […]
ENOC Group Signs Strategic Agreement with Retired Military Association in Abu Dhabi to Develop Fuel Retail Infrastructure and Meet Growing Energy Needs
Abu Dhabi – Mubasher: The ENOC Group, the energy company, signed today, Wednesday, a strategic agreement with the Retired Military Association in Abu Dhabi to continue developing the fuel retail infrastructure in the UAE and contribute to meeting the growing energy needs. Under the agreement, ENOC will study between 40 and 60 strategic locations to […]
Qatar Stock Exchange Gains for 13th Session in a Row, Nearing 11,000 Points
Doha – Mubasher: Qatar Stock Exchange closed trading today, Sunday, in green for the thirteenth session in a row, close to the level of 11,000 points, with the support of 3 sectors. The general index increased by 0.54%, to 10953.92 points, gaining 59.33 points from last Thursday’s level. The session witnessed an increase in 3 […]
Telecom Egypt Reports Increased Profits and Denies Receiving Official Offers for Vodafone Egypt Stake
Cairo – Mubasher: Telecom Egypt confirmed that it had not received any official offers regarding its stake in Vodafone Egypt. This came in a statement in response to the Egyptian Stock Exchange’s inquiries regarding what was published under the title (Qatar Investment implements the acquisition of a stake in Vodafone Egypt within two months). Telecom […]
Oil Prices Rise for Fifth Consecutive Week Amidst Optimism in Demand and Supply Cuts
Mubasher: Oil prices rose at the settlement of weekly transactions, recording gains for the fifth week in a row, amid optimism among investors that prices will continue to rise thanks to the recovery in demand and supply cuts. The appetite for risk in financial markets in general increased due to growing expectations that large central […]
RAKBANK Reports Highest Semi-Annual Profit of 901 Million Dirhams
Abu Dhabi – Live: RAKBANK announced its highest semi-annual profit ever, amounting to 901 million dirhams, an increase of 71% compared to the first half of 2022, while total revenue increased year-on-year by 42% to 2.2 billion dirhams. Customer deposits rose to 49 billion dirhams, an increase of 19% year-on-year, with the share of current […]
UAE Financial Market Indices Rise Amid Expectations of US Federal Reserve Decision
Malik Salameh – Mubasher: UAE financial market indices rose at the end of trading today, Monday, amid investors’ expectations that the US Federal Reserve will stop raising interest rates during its meeting this week. According to the data of the UAE financial markets, the Abu Dhabi Stock Exchange achieved profits amounting to 25 billion dirhams, […]
National Bank of Kuwait’s Investment in Technology and Innovation Drives Future Growth
Kuwait – Mubasher: The National Bank of Kuwait aims to continue investing in technology and digital platforms and expanding its scope at the group level, in addition to focusing heavily on innovation as a major driver of future growth. Sheikha Al-Bahar, Deputy CEO of the National Bank of Kuwait Group, said that this would contribute […]