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1 hour ago Middle East, Eurasia make 32% of SMEs drawn to Dubai in 2023
UAE – Mubasher: Around 32% of the Small and Medium-sized Enterprises (SMEs) attracted by Dubai in 2023 originated from the Middle East and Eurasia. Meanwhile, 29% of SMEs drawn to the emirate come from Asia and Australia, according to data …
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1 hour ago Egypt’s stock market closes Thursday in red zone
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) showed negative performance at the end of Thursday’s session, with the EGX30 main index falling by 2.36% to 27,559.35 points. The small- and mid-cap EGX70 EWI plunged by 1.80% to …
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2 hours ago UAE stock markets show varied performance on Thursday
UAE – Mubasher: The main index DFMGI of Dubai Financial Market (DFM) closed Thursday’s session in the green zone, after rising by 1.15 points (0.02%) to hit 4,232.94 points. The turnover amounted to AED 407.10 million through the trading of 224.82 …
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2 hours ago IDH’s consolidated profit dips 11% YoY in 2023
Cairo – Mubasher: Integrated Diagnostics Holdings (IDH) recorded an 11% year-on-year (YoY) decline in consolidated net profit to EGP 468 million in 2023 from EGP 527 million. Revenues increased by 14% YoY to EGP 4.12 billion last year from EGP …
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2 hours ago EBE’s shareholders pass EGP 2.4bn dividends for 2023
Cairo – Mubasher: The ordinary general meeting (OGM) of the Export Development Bank of Egypt (EBE) approved the distribution of EGP 2.45 billion in cash dividends for 2023, according to a bourse filing. EBE’s consolidated net profits after tax hit …
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3 hours ago DEWA’s shareholders nod for AED 3.1bn dividends for H2-23
Dubai – Mubasher: The general assembly of Dubai Electricity and Water Authority (DEWA) has approved the disbursement of AED 3.10 billion, or 6.20 fils per share, for the second half (H2) of 2023. The dividends are set to be paid to eligible …
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4 hours ago SASCO’s board proposes dividends, capital hike
Riyadh – Mubasher: The board of Saudi Automotive Services Company (SASCO) has recommended the distribution of SAR 45 million, or SAR 0.75 per share, in additional cash dividends for the fiscal year 2023. The board also proposed increasing capital …
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4 hours ago SRMG’s net profit declines 14% YoY in 2023
Riyadh – Mubasher: The net profit of Saudi Research and Media Group (SRMG) shrank 13.74% year-on-year (YoY) to SAR 559.62 million in 2023 from SAR 648.79 million a year earlier. Revenues inched higher by 0.98% YoY to SAR 3.74 billion last year …
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4 hours ago MM Group posts EGP 700m consolidated profit in 2023; dividends ratified
Cairo – Mubasher: MM Group for Industry and International Trade logged a consolidated net profit of EGP 699.15 million in 2023, up from EGP 346.25 million a year earlier. The company’s net sales soared to EGP 10.35 billion last year from EGP 6.90 …
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5 hours ago ACWA Power seals SAR 3bn long-term deal to build desalination plant in Senegal
Riyadh – Mubasher: ACWA Power Company has signed a SAR 3 billion water purchase agreement with the Ministry of Water and Sanitation of Senegal and the Senegalese Company of Water (Sones) for the construction of a desalination plant in Dakar. The …
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11:45 AM CBE auctions EGP 55bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a total value of EGP 55 billion through auctions on Thursday, 25 March 2024. The first offering includes EGP 35 billion worth of T-bills with an 182-day maturity …
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11:11 AM TAQA, Japan’s JERA partner to build power plant in Saudi Arabia
Abu Dhabi – Mubasher Abu Dhabi National Energy Company (TAQA) and Japan’s energy giant JERA signed a power and steam purchase agreement with Saudi Aramco Total Refining and Petrochemical Company (SATORP) to develop a greenfield industrial steam …
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27 March 06:03 PM Tadawul shows positive performance on Wednesday
Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) rose by 22.44 points (0.18%) to hit 12,607.98 points at the end of Wednesday’s session. The trading value amounted to SAR 7.35 billion after 294.07 million …
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27 March 04:51 PM Egypt’s Sprints raises $3m funding round
Cairo – Mubasher: Sprints.ai, the AI-powered edtech, has raised $3 million from a bridge fundraising round led by EdVentures and CFYE, among other investors. The fundraising transaction boosts Sprints' growth objectives as it doubles down on its …
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27 March 04:23 PM Tam Development mulls 12% cash dividends for 2023
Riyadh – Mubasher: Tam Development Company unveiled the board’s proposal to disburse cash dividends amounting to SAR 4.05 million, representing 12.30% of the capital, for 2023. The Saudi firm will pay a dividend of SAR 1.23 per share for 3.29 …
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27 March 04:18 PM EGX plunges on Wednesday; Egyptian, Arab traders acquire selling
Cairo – Mubasher: The indices of the Egyptian Exchange (EGX) showed negative performance on Wednesday, with the EGX30 benchmark index declining by 2.87% to 28,224.37 points. Likewise, the small- and mid-cap EGX70 EWI fell by 2.71% to close at …
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27 March 03:59 PM Egypt’s FX receipts drop 24% YoY in FY22/23 – CAPMAS
Cairo – Mubasher: Egypt's total foreign exchange receipts declined by 24% year-on-year (YoY) to $121.90 billion during the fiscal year (FY) 2022/2023 from $160.50 billion in FY 2021/2022. Total foreign exchange payments plunged by 27.10% YoY to …
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27 March 03:54 PM UAE stock markets close Wednesday in red zone
UAE – Mubasher: The main index DFMGI of Dubai Financial Market (DFM) declined on Wednesday by 14.44 points (0.34%) to close at 4,231.79 points. A total of 264.02 million shares were traded at a value of AED 663.77 million. Emirates Integrated …
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27 March 03:17 PM RAK Ceramics to pay AED 99.5m dividends for H2-23
Abu Dhabi – Mubasher: The general assembly meeting of RAK Ceramics approved cash dividends amounting to AED 99.37 million, equivalent to 10 fils per share, for the second half (H2) of 2023. The UAE-based company highlighted that the full-year …
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27 March 02:44 PM Astra Industrial’s board endorses SAR 200m dividends for 2023
Riyadh – Mubasher: The board of Astra Industrial Group has proposed the distribution of SAR 200 million in cash dividends for 2023. The recommended dividends are equivalent to SAR 2.50 per share, to be paid to 80 million eligible shares, according …
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27 March 02:41 PM Taqat Mineral Trading to commence Nomu listing end-week
Riyadh – Mubasher: Taqat Mineral Trading Company will begin the listing and trading of its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) on Thursday, 28 March 2024. The company plans to trade 2.43 million shares, equivalent …
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27 March 02:36 PM Quara Finance posts 6% YoY profit increase in 2023
Riyadh – Mubasher: Quara Finance Company reported a 5.80% year-on-year (YoY) growth in net profit to SAR 53.78 million in 2023 from SAR 50.83 million. Revenues increased by 10.44% YoY to SAR 187.61 million last year from SAR 169.87 million, …
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27 March 02:14 PM e-finance’s board greenlights bonus share dividends
Cairo - Mubasher: The board members of e-finance for Digital and Financial Investments agreed, on 26 March 2024, to disburse a bonus share dividend to shareholders at a rate of 0.25 for each original share. This will be financed from the reserve …
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27 March 02:07 PM ADES Holding signs agreement to boost production in Egyptian oil fields
Riyadh – Mubasher: ADES Holding Company has signed a long-term service agreement with the Suez Oil Company (SUCO) and Shukeir Marine Oil Company (OSOCO), subsidiaries of Egyptian General Petroleum Corporation (EGPC). Under the agreement, …
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27 March 01:49 PM Watania International Holding unveils accumulated losses
Dubai – Mubasher: Watania International Holding has incurred accumulated losses valued at AED 45.90 million as of 31 December 2023, representing 17.67% of the capital, according to a bourse disclosure. The company reported an exceptional loss of …