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
Will they go to trial? No representative of the Chinese mining company Shougang Hierro Perú SAA attended the first meeting to reconcile at the invitation of the relatives of five workers who died after they were infected with covid in their work center. Last April 5 was the first extrajudicial conciliation hearing to deal with … 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
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 … Read more
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 … Read more
The US Securities and Exchange Commission (SEC) has accused Green United, a cryptocurrency mining equipment maker, of violating federal laws and defrauding $18 million. The regulator has already filed a corresponding claim. According to the complaint, company founder Wright Thurston and chief promoter Christopher Krohn sold Antminer S9 devices under the guise of “Green Boxes” … Read more
Abu Dhabi – Mubasher: A company is exploring AimcoCanadian Asset Management, investment opportunities and building relationships with the largest sovereign funds in Abu Dhabi and the world. Evan Sidal, CEO of the company, said that investing in the UAE is one of the attractive offers due to the local currency’s peg to the dollar, as … Read more