“Dubai Energy Exchange Reports 18% Increase in Oman Crude Oil Delivery Volumes in Q1 2023”
Dubai – Mubasher: The Dubai Energy Exchange announced that the actual delivery volumes of Oman crude oil increased by 18 percent in the first quarter of 2023, as it delivered 63.77 million barrels, compared to 54.01 million barrels in the same period of 2022. The stock market recorded a 9 percent increase in trading volume […]
“Snap Q1 2023 Results Disappoint Estimates and Value Falls -21% in Aftermarket”
fot. freepik.com SNAP (Close: $10.50; Day Var.: +6.3%; 2023 Var.: +17.3%). Q1 2023 results disappoint estimates and value falls -21% in the aftermarket: Main figures compared to Bloomberg consensus: Revenues $988M (-7% y/y) vs. $1,001M expected, BNA -$328M (vs. -359M$ in 1Q 2022) vs. -$360M spec. and EPS -$0.21 (-$0.22 in 1Q 2022) vs. -0.18$ […]
Japan receives first shipment of low-emission ammonia from Saudi Arabia for co-burning with fossil fuels
Riyadh – Mubasher: The State of Japan received the first shipment of low-emission ammonia from Saudi Arabia, today, Friday, with plans to use it in co-burning alongside fossil fuels. to reduce carbon emissions. It is noteworthy that Japan, which lacks energy resources, wants to add hydrogen and ammonia to its energy mix, as it agreed […]
Madinet Nasr for Housing and Development approves financials and increases capital in General Assembly meeting
Cairo – Mubasher: The Ordinary General Assembly of Madinet Nasr for Housing and Development approved the report of the Board of Directors and the financial statements for the past year. The company said in a statement to the Egyptian Stock Exchange today, Wednesday, that the general assembly agreed to distribute a cash coupon to shareholders […]
UAE’s holdings of US bonds decreased in February 2023
Malik Salameh – directThe UAE’s holdings of US Treasury bonds decreased during the month of February 2023 by 0.61 percent on a monthly basis. The UAE’s holdings of bonds last February amounted to about $64.5 billion, compared to $64.9 billion in the previous month, according to the monthly report of the US Treasury Department. On […]
Dubai Courts Order KPMG Lower Gulf to Pay $231 Million for Poor Quality Audit of Fund
Abu Dhabi – Mubasher: Dubai courts ordered KPMG Lower Gulf to pay $231 million, equivalent to 848 million dirhams, to a group of investors who reported losing money due to the company’s poor quality audit of a fund they invested in, according to a report by the Financial Times. The ruling, issued in late March, […]
For the First Time, UAE Central Bank’s Overseas Assets Exceed 500 Billion Dirhams
Abu Dhabi – Mubasher: The total foreign assets of the UAE Central Bank exceeded half a trillion dirhams at the end of last January, for the first time in its history. Statistics issued by the UAE Central Bank indicated that the foreign assets of the Central Bank increased on a monthly basis by 1.34%, from […]
What was the statement made by the central bank regarding inflation rates in the UAE?
Abu Dhabi – Mubasher: The UAE Central Bank expected inflation to slow down during the current year 2023 to 3.2%, on the back of weak price increases in all categories, especially transportation, food and beverages. The Central Bank also expected in its recent report that inflation will remain on the rise, given that it is […]
Over the next four years, the Middle East anticipates a growth of 11% in e-commerce volume.
Dubai – Mubasher: A report issued by EZDubai, the area entirely dedicated to e-commerce in Dubai South, expects the size of the e-commerce market in the Middle East and North Africa region to reach $57 billion in 2026, equivalent to a compound annual growth rate of 11% during the period from 2022 to 2026. According […]
In the week of threatening to raise the interest rate… 4 Gulf stock exchanges in particular, Egypt and the UAE are retreating
And Egypt and the Emirates are retreating Mubasher – Mahmoud Jamal: The Arab financial markets witnessed varying ups and downs at the end of the weekly trading, which coincided with the assertion of US Federal Reserve Chairman Jerome Powell, before Congress, that the Central Bank will likely have to increase interest rates more than expected […]