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Middle east news

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12 June 2025 05:59 AM CBE unveils EGP 90bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) auctioned treasury bills (T-bills) at a total value of EGP 90 billion through two issues on Thursday, 12 June. The first tranche stood at EGP 45 billion, holding a tenor of 182 days until 16 …
Treasury Bills
Founders of Qanooni
12 June 2025 05:44 AM Dubai-based regtech Qanooni closes $2m funding round to drive regional expansion
UAE – Mubasher: Dubai-based legal technology startup Qanooni has raised $2 million in a pre-seed round led by Village Global, Oryx Fund by Salica Investments, TA Ventures, and strategic angels. The startup will utilize the capital to accelerate …
Companies Investments
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12 June 2025 05:32 AM UAE-based Nas hikes stake in Egyfert for nearly EGP 187m
Cairo – Mubasher: UAE-based Nas Investment Holding raised its equity ownership in Samad Misr (Egyfert) to 51.47% from 32.39%, according to a bourse filing. Nas purchased 1.83 million shares in the EGX-listed firm at a total value of EGP 186.77 …
Mergers and Acquisitions
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11 June 2025 04:26 PM Cleopatra Hospitals Group obtains regulatory nod for capital reduction
Cairo – Mubasher: Cleopatra Hospitals Group obtained the Financial Regulatory Authority’s (FRA) approval to reduce its capital to EGP 721.89 million from EGP 722.71 million. The group will cut its issued capital by EGP 824,288 through cancelling …
Companies Investments
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11 June 2025 02:21 PM Knowledge Net’s board recommends 50% capital raise
Riyadh – Mubasher: Knowledge Net Company announced the board’s recommendation for a 50% capital hike to SAR 52.50 million from SAR 35 million. The Saudi firm will grant one bonus share for each two owned shares, according to a bourse disclosure. …
Management Decisions
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11 June 2025 01:12 PM Cenomi Centers unveils EGP 100m sale deal
Riyadh - Mubasher: Arabian Centres Company (Cenomi Centers) sold a land plot in Al Kharj located on Riyadh-Al Kharj Road, with a total area of 425,390 square meters, for SAR 100 million. The sale deal aligns with the company’s program to sell an …
Companies Investments
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11 June 2025 11:51 AM TMG Holding eyes EGP 120bn sales from Sharm Bay project
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) aims to generate total sales of EGP 120 billion from the Sharm Bay project over its lifespan, according to a bourse disclosure. Located near the group-owned Four Seasons Resort …
Real estate
Photo Archive
11 June 2025 11:20 AM ADNOC L&S, Borouge join forces to boost UAE’s petrochemicals production
Abu Dhabi – Mubasher: ADNOC Logistics & Services (ADNOC L&S) and Borouge have entered a 15-year strategic partnership to expand the production and export of petrochemicals from the UAE, according to a press release. The agreement will deliver a …
Companies Investments
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11 June 2025 10:41 AM Prices of investment funds including certificates in EGP, USD
Cairo – Mubasher: Based on updated data, Mubasher is featuring mutual funds along with relevant prices based on the latest closing. Below you can find the names of Investment Funds as well as the price of each certificate in EGP, except for the …
Mutual Funds
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11 June 2025 08:09 AM Emirates Stallions’ unit partners with SAAS to develop AED 1.6bn project
Abu Dhabi – Mubasher: Royal Development Holding, a subsidiary of Emirates Stallions Group (ESG), has partnered with UAE-based luxury property developer SAAS Properties to launch its branded residences development on Al Reem Island. The AED 1.60 …
Real estate
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10 June 2025 05:54 PM ADNOC Gas awards $5bn contracts for RGD’s 1st phase
Abu Dhabi – Mubasher: ADNOC Gas has awarded $5 billion in contracts for the first phase of its Rich Gas Development (RGD) project, according to a press release. The contracts aim to boost operational efficiency across four ADNOC Gas facilities: …
Companies Investments
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10 June 2025 02:58 PM Nettlestone Capital Advisors expands regional footprint via DIFC office
UAE – Mubasher: Nettlestone Capital Advisors, a senior-led advisory and capital raising firm, officially launched its business in the Dubai International Financial Centre (DIFC), according to a press release. The group offers a combination of …
Companies Investments
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10 June 2025 02:21 PM Agility Global secures $500m credit facility deal from regional bank
Abu Dhabi – Mubasher: Agility Global has signed a credit facility agreement with a regional bank for a total amount of $500 million, according to a bourse filing. The facility, which has a maturity period of three years, will be used to fund …
Banking and Finance
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10 June 2025 02:04 PM Abu Dhabi’s property market records AED 6.3bn sales in 4 months
UAE – Mubasher: Abu Dhabi’s property market witnessed a 5% increase in luxury transactions valued at AED 7 million and above, reaching AED 6.30 billion in the first four months of 2025, according to Metropolitan Capital Real Estate (MCRE). The …
Sector Reports
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10 June 2025 00:48 PM Spinalex shifts to net losses in 9M-24/25
Cairo – Mubasher: Alexandria Spinning and Weaving Company (Spinalex) turned to net losses after tax amounting to EGP 13.59 million in the first nine months (9M) of fiscal year (FY) 2024/25, versus net profits of EGP 103.23 million a year earlier. …
Financial Results
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10 June 2025 00:22 PM Sharjah Islamic Bank lists $500m Sukuk on Nasdaq Dubai
Abu Dhabi – Mubasher: Nasdaq Dubai welcomed the listing of a $500 million Additional Tier 1 (AT1) Sukuk offered by Sharjah Islamic Bank, according to a press release. The perpetual, non-call six-year AT1 Capital Certificates were issued by the …
Banking and Finance
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10 June 2025 10:56 AM Prices of investment funds including certificates in EGP, USD
Cairo – Mubasher: Based on updated data, Mubasher is featuring mutual funds along with relevant prices based on the latest closing. Below you can find the names of Investment Funds as well as the price of each certificate in EGP, except for the …
Global Economy
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9 June 2025 03:38 PM Wipro launches new regional office in Riyadh
Riyadh – Mubasher: Wipro Limited has relocated its Middle East regional headquarters from Al Khobar to Riyadh, according to a press release. The new office supports Wipro’s growing presence in the region, which includes offices in Riyadh, Al …
Global Economy
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9 June 2025 02:05 PM Saudi Arabia’s real GDP up 3.4% in Q1-25 – GaStat
Riyadh – Mubasher: The real gross domestic product (GDP) of Saudi Arabia recorded a 3.4% year-on-year (YoY) growth in the first quarter (Q1) of 2025, according to the General Authority for Statistics (GaStat). The growth rate was driven by a 4.9% …
Macroeconomics
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9 June 2025 01:18 PM Aldar to launch region’s 1st King’s College School Wimbledon in Abu Dhabi
Abu Dhabi – Mubasher: Aldar Properties joined forces with King’s College School Wimbledon to establish its first regional campus on Abu Dhabi’s Fahid Island, according to a press release. After securing regulatory approvals, the new K-12 …
Companies Investments
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9 June 2025 11:51 AM GCC-focused Meedaf launches JV to transform financial landscape in UAE
Mubasher: ADGM-licensed Meedaf unveiled a strategic joint venture (JV) with Brink’s, a leading global provider of cash and valuables management, digital retail solutions, and ATM managed services. Launched in April 2025 to serve financial …
Companies Investments
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9 June 2025 10:37 AM Emirates NBD, Siemens to finance UAE’s green infrastructure projects
Dubai – Mubasher: Emirates NBD partnered with global technology leader Siemens to finance large-scale green infrastructure projects and support decarburization in the UAE, according to a press release. In line with the UAE’s Net Zero by 2050 …
Banking and Finance
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8 June 2025 00:20 PM Gulf of America’s oil production to maintain stability in 2026 – EIA
Mubasher: Crude oil production in the Federal Offshore Gulf of America (GOA) will average 1.80 million barrels per day (b/d) in 2025 and 1.81 million b/d in 2026, according to the U.S. Energy Information Administration (EIA). This is compared to …
Macroeconomics
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8 June 2025 11:08 AM ADFD pumps AED 216.5bn financing in 2024 to support sustainable development worldwide
UAE – Mubasher: Abu Dhabi Fund for Development (ADFD) injected development financing totaling AED 216.50 billion by the end of 2024, benefitting 107 countries across various continents. This total comprises AED 157 billion in concessional loans, …
Global Economy
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8 June 2025 10:13 AM Jazeera Airways launches 1st direct flight to Budapest
Mubasher: Jazeera Airways launches twice-weekly flights between Kuwait and Budapest, Hungary, marking the first-ever non-stop air connection between the two countries. This move marks key opportunities for tourism, business, and cultural exchange, …
Global Economy