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12 March 05:00 PM Saudi Lime obtains SAR 140m loan from ANB
Riyadh - Mubasher: Saudi Lime Industries Company renewed its credit facilities agreement with the Arab National Bank (ANB) at a value of SAR 140 million on 12 March 2024. The Sharia-compliant deal holds a tenor of seven years and is secured by a …
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12 March 04:24 PM Nayifat generates nearly SAR 89m profits in 2023
Riyadh – Mubasher: The net profits of Nayifat Finance Company plummeted by 48.26% ye to SAR 88.71 million in 2023 from SAR 171.45 million in 2022. The revenues amounted to SAR 396.96 million as of 31 December 2023, up 1.18% year-on-year (YoY) from …
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12 March 03:53 PM TASI, NomuC end Tuesday in green
Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) closed higher on Tuesday, after rising by 58.22 points (0.46%) to 12,613.94 points. The trading value hit SAR 8.38 billion after 356.15 million shares were …
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12 March 02:03 PM Emirates NBD partners with Emirates to offer payment facilities for Saudi travellers
Dubai – Mubasher: The Saudi arm of Emirates NBD has signed an agreement with Emirates to launch the Fly Now, Pay Down the Line initiative to offer a zero-interest instalment plan for customers in the kingdom. The new feature will enable customers …
Alaa Kara Ali, CEO of Metro Brazil.
12 March 01:54 PM Metro Brazil expands business in Saudi Arabia to boost e-commerce market
Riyadh – Mubasher: Retail and e-commerce firm Metro Brazil expanded its operations into Saudi Arabia in line with its commitment to enhance the growing retail sector. The Saudi retail market is expected to reach $54.46 billion by 2028, according …
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12 March 01:09 PM CMA approves Nomu listing of Al Hokail, ANB’s capital raise
Riyadh – Mubasher: The Capital Market Authority (CMA) passed the request of Al Hokail Academy Specialized Digital Polyclinics Company to trade its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul). The Saudi firm intends to …
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12 March 01:00 PM Cenomi Centers concludes $100m sukuk private placement
Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) has completed a private placement issuance of additional sukuk worth $100 million. The additional issuance will be a part of the $500 million sukuk issued on 6 March 2024 and due 2029, …
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12 March 12:20 PM Taqadum International appoints financial advisor to oversee transition to main market
Riyadh – Mubasher: The board of directors of Taqadum International Company for Communications and Information Technology has appointed Kassab Financial Company as a financial advisor to manage the company’s transfer from the parallel market to the …
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12 March 11:35 AM Clara, VMS ink deal at LEAP 2024 to empower MENA’s startups
Mubasher: VMS and Clara, a platform streamlining company digital formations, inked a memorandum of understanding (MoU) to back startups in the MENA region. The two parties signed the agreement on the slides of LEAP24 that took place in Riyadh …
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12 March 11:25 AM SISCO’s net profit surges 94% YoY in 2023; dividends approved
Riyadh – Mubasher: Sustainable Infrastructure Holding Company (SISCO Holding) reported a 94% year-on-year (YoY) jump in net profit to SAR 71.20 million in 2023 from SAR 36.70 million. The company’s revenues soared 61.34% YoY to SAR 1.60 billion …
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12 March 11:03 AM EIC’s board nods to SAR 84m dividends for H2-23
Riyadh – Mubasher: Electrical Industries Company’s (EIC) board of directors approved the distribution of SAR 84.37 million, or SAR 0.075 per share, in cash dividends for the second half (H2) of 2023. The distribution date is 24 April 2024 and the …
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11 March 05:58 PM Tadawul shows mixed performance on Monday
Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) fell on Monday by 62.90 points (0.50%) to close at 12,555.72 points. The trading value reached SAR 9.88 billion through the exchange of 419.21 million …
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11 March 04:56 PM EIC’s net profits exceed SAR 201m in 2023
Riyadh – Mubasher: Electrical Industries Company (EIC) achieved net profits amounting to SAR 201.03 million in 2023, higher by 113.48% year-on-year (YoY) than SAR 94.17 million. The company generated revenues valued at SAR 1.55 billion as of 31 …
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11 March 03:47 PM Saudi B2B fintech Rakeez Capital raises $2m funding round
Riyadh – Mubasher: Saudi business-to-business (B2B) fintech Rakeez Capital has secured a $2 million Seed round, led by Core Vision Investments, according to a press release. Rakeez Capital will use the new investment to develop advanced and …
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11 March 03:02 PM Ejaro, Tawuniya join forces to reshape Saudi car rental market
Riyadh – Mubasher: Ejaro partnered with The Company for Cooperative Insurance (Tawuniya) to boost the car rental market in line with Saudi Arabia's Vision 2030, according to a press release. Tawuniya led the Saudi peer-to-peer (P2P) car rental …
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11 March 01:27 PM TAWAL unveils new technology for private 5G network at LEAP 2024
Riyadh – Mubasher: TAWAL, an information and communications technology (ICT) infrastructure subsidiary of Saudi Telecom Company (stc), has announced a new technical system for private 5G networks at LEAP 2024. TAWAL joined forces with MOBiSENSE to …
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11 March 12:11 PM Aramex bolsters regional business via HQ in Riyadh
Dubai – Mubasher: Aramex expanded its presence in Saudi Arabia after inauguring a new regional office in Riyadh, according to a press release. This aligns with the company’s commitment to accelerating the transformation of Saudi Arabia's logistics …
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11 March 11:52 AM First Mills’ net profit edges higher 1% YoY in 2023; dividends date released
Riyadh – Mubasher: The net profit of First Milling Company (First Mills) inched higher by 1.24% year-on-year (YoY) to SAR 220.20 million in 2023 from SAR 217.50 million. Revenues grew 5.54% YoY to SAR 964.30 million last year from SAR 913.60 …
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11 March 11:24 AM BinDawood Holding logs over 120% YoY higher profit in 2023
Riyadh – Mubasher: BinDawood Holding Company posted a 120.52% year-on-year (YoY) jump in net profit to SAR 275.06 million in 2023 from SAR 124.73 million. The company’s revenues grew 14.41% YoY to SAR 5.60 billion last year from SAR 4.89 billion, …
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11 March 11:02 AM GASCO’s net profit rises 6% YoY in 2023
Riyadh – Mubasher: National Gas and Industrialization Company (GASCO) recorded a 6.17% year-on-year (YoY) increase in net profit to SAR 227.30 million in 2023 from SAR 214.10 million. The company’s revenues grew 18.16% YoY to SAR 2.45 billion last …
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11 March 10:53 AM Eastern Province Cement’s board nods to SAR 86m dividends
Riyadh – Mubasher: The board of directors of Eastern Province Cement Company has approved the distribution of SAR 86 million, or SAR per share, in cash dividends for the second half (H2) of 2023. The eligibility date is 17 March 2024 and the …
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10 March 05:44 PM Eastern Province Cement’s net profit leaps 39% YoY in 2023
Riyadh – Mubasher: Eastern Province Cement Company reported a 38.46% year-on-year (YoY) surge in net profit to SAR 198 million in 2023 from SAR 143 million. The company’s sales jumped 25.64% YoY to SAR 985 million last year from SAR 784 million, …
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10 March 05:22 PM Saudi Kayan Petrochemical’s accumulated loss surpasses SAR 3bn in February
Riyadh – Mubasher: Saudi Kayan Petrochemical Company announced that its accumulated losses reached SAR 3.06 billion at the end of February 2024. The company’s accumulated losses account for 20.44% of its capital of SAR 15 billion, according to a …
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10 March 04:41 PM Arabian Cement’s net profit drops 23% YoY in 2023; dividends recommended
Riyadh – Mubasher: Arabian Cement Company recorded a 22.87% year-on-year (YoY) decline in net profit to SAR 139.60 million in 2023 from SAR 181 million a year earlier Revenues decreased by 9.79% YoY to SAR 875.80 million last year from SAR 970.90 …
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10 March 04:26 PM Egypt’s dKilo raises $3.2m funding at LEAP 2024
Cairo – Mubasher: Egypt-based ad tech dKilo has secured $3.20 million in a Seed funding round during the Leap 2024 conference that kicked off in Riyadh on 4 March. The fundraising transaction was led by Upturn Ventures, a venture builder …