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08 May 11:19 PM

Gulf news

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4 hours ago Saudi Ceramics achieves 6% higher net profits in Q1-24
Riyadh – Mubasher: Saudi Ceramic Company (Saudi Ceramics) recorded a 5.82% annual growth in net profit to SAR 15.56 million during the first quarter (Q1) of 2024 from SAR 14.70 million. The earnings per share (EPS) edged up to SAR 0.19 at the end …
Financial Results
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5 hours ago Tadawul closes Wednesday’s session in green zone
Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) rose by 102.12 points (0.83%) to close Wednesday at 12,460.11 points. A total of 297.61 million shares were traded at a turnover worth SAR 8.18 billion. …
Trading Activities
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05:25 PM Riyadh Development records 117.5% jump in Q1-24 net profits
Riyadh – Mubasher: The net profits of Riyadh Development Company, formerly known as Arriyadh Development, soared by 117.56% to SAR 70.49 million in the first quarter (Q1) of 2024 from SAR 32.40 million in Q1-23. The earnings per share (EPS) rose …
Financial Results
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04:33 PM NMDC posts AED 641m consolidated profit in Q1-24
Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) logged a consolidated net profit of AED 641.06 million in the first quarter (Q1) of 2024, a surge from AED 303.32 million in the same period a year earlier. Revenues from contracts with …
Financial Results
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03:57 PM Amlak Finance’s net profit hits AED 27m in Q1-24
Dubai – Mubasher: Amlak Finance posted a net profit of AED 27 million during the first quarter (Q1) of 2024, up from AED 14 million in the same quarter a year earlier. The company’s total revenues declined to AED 68 million in Q1-24 from AED 74 …
Banking and Finance
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03:42 PM Nofoth announces 2023 dividend recommendation
Riyadh – Mubasher: The board of Nofoth Food Products Company proposed a cash dividend worth SAR 0.20 per share for 2023. During its 7 May 2024 meeting, the board recommended paying 20% of the SAR 48 million capital as dividends for last year, …
Board of Directors
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03:27 PM RAYA CX acquires 15% of Gulf Customer Experience Bahrain
Cairo – Mubasher: The board of Raya Customer Experience (RAYA CX) has acquired 59,170 shares in Gulf Customer Experience Bahrain, representing 14.97% of the company’s capital. The acquired stake was bought from an American investor, according to a …
Mergers and Acquisitions
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02:46 PM Air Cairo chooses Seera’s Almosafer as exclusive agent in Saudi Arabia
Riyadh – Mubasher: Egypt’s hybrid national airline Air Cairo has partnered with the Saudi travel company Almosafer, a subsidiary of Seera Group Holding, to become the exclusive general sales agent (GSA) of Air Cairo in Saudi Arabia, according to a …
Companies Investments
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02:46 PM UAE stock markets close higher on Wednesday
UAE – Mubasher: The main index of Dubai Financial Market (DFM) ended Wednesday’s trading session higher by 37.06 points (0.89%) at 4,193.35 points. The DFM’s turnover hit AED 348.98 million through the exchange of 151.14 million shares. Emaar …
Trading Activities
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02:11 PM Mastercard restructures leadership roles in MENA
Riyadh - Mubasher: Payments giant Mastercard announced restructuring its regional operations, appointing new division leaders as it aims to step up growth across the Middle East and North Africa (MENA). This initiative forms part of the company's …
Companies Investments
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01:18 PM Nahdi Medical’s profit shrinks 5% YoY in Q1-24
Riyadh – Mubasher: Nahdi Medical Company reported a 4.66% year-on-year (YoY) decline in net profit to SAR 232.90 million in the first quarter (Q1) of 2024 from SAR 244.30 million. Revenues increased by 7.24% YoY to SAR 2.25 billion in Q1-24 from …
Financial Results
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01:02 PM Al Rajhi Bank to issue USD sukuk to Saudi, int’l investors
Riyadh – Mubasher: Al Rajhi Bank has announced plans to issue USD-denominated additional tier 1 capital sustainable sukuk under its international sukuk programme. The offering is expected to be conducted through a special purpose vehicle to Saudi …
Sukuk and Islamic Finance
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11:53 AM Jabal Omar Development’s board nods for CEO resignation
Riyadh – Mubasher: The board of Jabal Omar Development Company has accepted the resignation of Khalid Mohammed Al Amoudi from his position as CEO. Al Amoudi is set to resign on 30 May 2024, according to a bourse filing. The company’s board …
Financial Results
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11:43 AM Dana Gas’ consolidated profit dips to $38m in Q1-24
Abu Dhabi – Mubasher: Dana Gas posted a $38 million (AED 139 million) consolidated net profit in the first quarter (Q1) of 2024, down from $50 million (AED 183 million) in the same quarter a year earlier. Gross revenues declined to $97 million …
Financial Results
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11:21 AM Beltone, UAE’s Comera partner to boost digitalisation in Egypt
Cairo – Mubasher: Beltone Holding has signed a strategic partnership agreement with Abu Dhabi-based Comera Financial Holding to bolster digital transformation and customer experience in Egypt. Under the agreement, the two companies will join …
Banking and Finance
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10:57 AM stc’s profits rise over 5% YoY in Q1-24; dividends proposed
Riyadh – Mubasher: The net profit of Saudi Telecom Company (stc) grew 5.69% year-on-year (YoY) to SAR 3.28 billion in the first quarter (Q1) of 2024 from SAR 3.10 billion. Revenues rose by 5.06% YoY to SAR 19.10 billion in Q1-24 from SAR 18.17 …
Cash Dividends
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10:28 AM ADNOC L&S logs 34% YoY profit hike in Q1-24
Abu Dhabi – Mubasher: ADNOC Logistics & Services (ADNOC L&S) reported a 34% year-on-year (YoY) leap in net profit to $194 million (AED 712 million) in the first quarter (Q1) of 2024 from $145 million (AED 533 million). Revenues soared 42% YoY to …
Financial Results
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7 May 05:56 PM Nayifat achieves SAR 17m net profits in Q1-24; revenues decline 15%
Riyadh – Mubasher: Nayifat Finance Company recorded net profits worth SAR 17.17 million during the first quarter (Q1) of 2024, signalling a 47.07% plunge from SAR 32.45 million in Q1-23. The revenues also plummeted by 14.60% to SAR 85.74 million …
Financial Results
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7 May 05:39 PM SEC obtains $1bn loan from SNB
Riyadh – Mubasher: Saudi Electricity Company (SEC) has signed a $1 billion bilateral Murabaha loan agreement with the Saudi National Bank (SNB). The funding deal, which was penned on 7 May 2024, holds a five-year duration period with an option of …
Companies Investments
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7 May 05:12 PM Savola Group registers 11% decrease in Q1-24 net profit
Riyadh – Mubasher: Savola Group posted an 11.21% decline in net profit to SAR 348.71 million during the first quarter (Q1) of 2024 compared with SAR 392.75 million in Q1-23. The earnings per share (EPS) went down to SAR 0.66 as of 31 March 2024 …
Financial Results
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7 May 05:05 PM Mubadala invests in Australia's largest urea plant
UAE – Mubasher: Mubadala Investment Company and US-based Global Infrastructure Partners have injected AUD 6.40 billion ($4.20 billion) in a major urea fertilisers plant in West Australia. The project, implemented by Perdaman, an Australian …
Companies Investments
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7 May 04:19 PM Tadawul’s indices close Tuesday in red; turnover surpasses SAR 7bn
Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) slipped 14.51 points (0.12%) to close at 12,357.99 points on Tuesday. A total of 315.15 million shares were traded at a turnover worth SAR 7.03 billion. …
Trading Activities
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7 May 03:54 PM UAE card payments market to exceed $200bn in 2028 – GlobalData
UAE - Mubasher: The card payments market in the UAE is expected to grow at a compound annual growth rate (CAGR) of 10.60% between 2024 and 2028, according to a report by GlobalData. The report forecast the market to reach a value of AED 764.10 …
Banking and Finance
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7 May 03:15 PM FABMISR opens 2 new branches in Giza, Cairo
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has inaugurated two new branches in Egypt. The new branches, the bank’s 66th and 67th in the country, are located on El-Haram Street in Giza …
Companies Investments
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7 May 02:44 PM Emirates inks MoUs to boost tourism in Malaysia, Turkey; A350 network expanded
UAE – Mubasher: Air travel giant Emirates has signed memorandums of understandings (MoUs) with Tourism Malaysia, Türkiye Tourism Promotion and Development Agency (TGA), and the Abu Dhabi Chamber of Commerce. The three MoUs were signed on the first …
Companies Investments