Abu Dhabi – Mubasher: The Ducab Group contributes more than 6.6 billion dirhams to the UAE economy, and exports 60% of its products to more than 55 markets. It provides a wide range of world-class solutions for the energy sector, and employs more than 1,400 employees in its factories and offices. Ducab Group supplies grew … Read more
Mubasher: The Minister of Finance of the Lebanese caretaker government, Youssef Al-Khalil, appeared today, Friday, before the European judicial delegation that is visiting Lebanon for the third time since the beginning of this year to hear bankers as witnesses in European investigations taking place in France, Germany and Luxembourg regarding cases of financial corruption and … Read more
Mubasher: The decline dominated most of the global gold and oil prices, in addition to the US dollar index, during trading today, Tuesday, on the eve of the start of the crucial Federal Reserve meetings expected by investors in the world. And by 11:00 am GMT, Brent crude futures for July delivery were down 0.04%, … Read more
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 … Read more
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 … Read more
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 … Read more
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 … Read more
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, … Read more
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 … Read more
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 … Read more