Latest News

Riyadh – Mubasher: The World Economic Forum (WEF) Special Meeting on Global Collaboration, Growth, and Energy for Development is set to take place in Riyadh on 28 and 29 April 2024. Held under the patronage of Crown Prince Mohammed bin Salman, the …

Riyadh – Mubasher: Middle East Paper Company (MEPCO) inked an engineering and supply contract with J.M. Voith SE & Co. KG Company on 22 April 2024. The deal covers the manufacturing, supplying, and supervising the installation of the main machine …

UAE – Mubasher: Spinneys 1961 Holding set the price range for its initial public offering (IPO) on the Dubai Financial Market (DFM) between AED 1.42 and AED 1.53 per Share. The IPO will imply a market cap at the time of listing of between nearly …

Cairo – Mubasher: The Egyptian government is in talks with the UAE’s Emirate of Fujairah and Brooge Petroleum and Gas Investment Company (BPGIC) to sign a preliminary agreement for building a free zone for production, storage, and trade of oil and …

Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) declined by 9.29 points (0.07%) to 12,508.93 points at the end of Sunday’s session. A total of 518.78 million shares were traded at a turnover worth SAR …

Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) is currently in talks with China-based Hengli Group for a potential acquisition of a 10% stake in its controlled subsidiary Hengli Petrochemical Company. The equity acquisition is still subject …

Riyadh – Mubasher: National Medical Care Company (NMC) has won a SAR 380.92 million contract with Prince Sultan Military Medical City. Under the agreement, NMC will provide services to long-term care patients, according to a bourse filing. The …

Riyadh – Mubasher: Leejam Sports Company (Fitness Time) inaugurated a new centre for ladies in Al Taif on 21 April 2024, according to a bourse filing. Located in Wadi Waj Road, Al Qamariah district, the new centre will include advanced facilities …

Cairo – Mubasher: Egypt's premier group-buying website and mobile app Waffarha has secured a Seed funding round from Saudi Value Makers Studio (VMS), according to a press release. The investment aligns with the platform’s expansion plans into the …

Riyadh – Mubasher: ROSHN Group, the real estate development arm of Saudi Arabia’s Public Investment Fund (PIF) has signed a memorandum of understanding (MoU) with US-based technology giant Cisco for use of Internet-of-Things (IoT) in building …

Cairo – Mubasher: The ordinary general meeting (OGM) of Fitness Prime Health Clubs agreed to raise the issued and paid-up capital to EGP 82.15 million from EGP 66.25 million. The EGP 15.90 million increase will be granted from the company’s net …

Riyadh – Mubasher: The board of directors of National Medical Care Company (NMC) has recommended the distribution of SAR 89.70 million in cash dividends for 2023. The proposed dividends amount to SAR 2 per share to be paid to 44.85 million …

Riyadh – Mubasher: The Public Investment Fund (PIF) inked a sale and purchase agreement (SPA) with Saudi Telecom Company (stc), on 21 April 2024, for a stake acquisition in TAWAL.  The Saudi fund unveiled plans to own 51% shareholding in TAWAL, …

Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) rose by 15.87 points (0.13%) to 12,518.22 points at the end of Sunday’s session. A total of 316.89 million shares were traded at a turnover worth SAR 6.39 …

Riyadh – Mubasher: Amlak International Finance Company has renewed the SAR 864.50 million one-year credit facility agreement with the Saudi Investment Bank (SAIB). The Sharia-compliant loan will be used to facilitate the company's business and …

Riyadh – Mubasher: Bandar bin Mohammed Al Baiz resigned from his position as the Managing Director and the CEO of Nayifat Finance Company, effective on 25 April 2024. Al Baiz submitted his resignation, on 21 April, due to personal circumstances, …

Riyadh – Mubasher: Herfy Food Services Company accepted the resignation of Sam Mohamed Bader from his position as its CEO due to personal reasons. Bader submitted his resignation on 19 April and became effective on 21 April 2024, according to a …

Riyadh – Mubasher: The board of Saudi AZM for Communications and Information Technology Company approved transferring its shares from the Parallel Market (Nomu) to the main market All Share Index (TASI). The board members granter their approvals …

Riyadh – Mubasher: Tabuk Agricultural Development Company (TADCO) has signed a non-binding memorandum of understanding (MoU) with Saudi Greenhouse and Agri Marketing Company to construct and manage high-tech greenhouses and marketing agriculture …

Riyadh – Mubasher: Smart Cities Solutions Company, a subsidiary of Batic Investments and Logistics Company penned an agreement with Arabian Internet and Telecommunication Services Company (solutions) on 20 April 2024. The joint deal covers the …

Riyadh – Mubasher: The International Monetary Fund (IMF) upgraded its forecast for Saudi Arabia’s economic growth in 2025 from 5.50% to 6%. The fund expects the Saudi economy to be the second-fastest growing economy in 2025 after India, according …

Riyadh – Mubasher: Almarai Company registered net profits valued at SAR 692.22 million in the fourth quarter (Q4) of 2024, up 9% from SAR 635.05 million in Q1-23. Revenues increased by 7.73% to SAR 5.45 billion in Q1-24 from SAR 5.06 billion as of …

Riyadh – Mubasher: ACWA Power Company teamed up with the International Renewable Energy Agency (IRENA) to back the global transition to renewable energy sources, according to a press release. The agreement with IRENA aligns with ACWA Power's …