Dubai – Mubasher: Drake & Scull International said that the accumulated losses amounted to 5.261 billion dirhams, constituting 491 percent of its capital, amounting to 1.071 billion dirhams.The company stated in a statement that the main reasons that led to the accumulation of losses include existing works and contracts receivable in old projects in Oman, … Read more
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 … Read more
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 … Read more
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 … Read more
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 … Read more
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 … Read more
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 … Read more
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 … Read more
Financial markets were shaken by the Bank of Japan’s announcement to make YCC more flexible. The Nikkei Stock Average temporarily dropped above 800 yen, but recovered rapidly towards the close. It left an impression that there are investors who are picking up the downside as they perceive that the easing environment will continue. ― Confused … Read more
Deposits in the Cypriot banking system rose significantly in June, totaling 52.3 billion euros, while liquidity in the banking system amounted to €27.2 billion. Loans in the banking system also increased for a second consecutive month in June, reaching €25.1 billion. According to data published by the Central Bank of Cyprus (CBC), total deposits in … Read more