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23 April 09:14 PM

Gulf news

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4 hours ago First Mills’ profit rises 5% YoY in Q1-24
Riyadh – Mubasher: The net profit of First Milling Company (First Mills) grew 5.37% year-on-year (YoY) to SAR 77.72 million during the first quarter (Q1) of 2024 from SAR 73.75 million in the comparative period of 2023. Revenues rose 8.17% YoY to …
Financial Results
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4 hours ago Dubai Chamber attracts 9 multinational companies with AED 304bn market value
UAE – Mubasher: Dubai Chamber of Digital Economy, operating under Dubai Chambers, attracted nine multinational companies (MNCs) with a market value exceeding AED 304 billion ($82.84 billion) in 2023. This aligns with the emirate’s growing strategy …
Companies Investments
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5 hours ago Alhokair Group unveils 2 key appointments
Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) appointed Sami Abdul Mohsen Abdulaziz Al Hokair as the Chairman of the board for four years. Faisal Mohammed Ibrahim Al Malik was named as the board’s Vice …
Board of Directors
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03:55 PM du launches du Pay to reinforce fintech solutions in UAE
Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) has launched du Pay to foster the UAE’s cashless economy and enhance its financial inclusion, according to a press release. Licensed by the Central Bank of the UAE (CBUAE), du …
Companies Investments
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03:48 PM Tadawul’s indices see varied performance on Tuesday
Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) went down by 24.52 points (0.20%) to 12,484.41 points at the end of Tuesday’s session. A total of 409.65 million shares were traded at a turnover worth SAR …
Trading Activities
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03:21 PM Al Yamamah Steel begins commercial production of Jeddah Pipes factory
Riyadh – Mubasher: Al Yamamah Steel Industries Company highlighted that the first phase of the expansion of the Jeddah Pipes factory started commercial production in April 2024. In a bourse statement, the company noted that the financial impact is …
Companies Investments
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02:51 PM UAE pens MoU with 3 countries for Development Road project
UAE – Mubasher: The UAE has signed a memorandum of understanding (MoU) with Iraq, Qatar, and Türkiye for cooperation on the Development Road project. The project seeks to create a sustainable economy bridging East and West, increase international …
Global Economy
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02:42 PM DFM, ADX close Tuesday's session down
UAE – Mubasher: The main index of Dubai Financial Market (DFM) went down by 1.34 points (0.03%) and ended Tuesday’s trading session at 4,166.32 points. DFM’s turnover reached AED 329.12 million through the exchange of 130.73 million shares. Emaar …
Trading Activities
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02:00 PM ADIB becomes 1st bank to offer integrated financial services via Botim app
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) inked a partnership with Astra Tech, becoming the first lender to provide users across the country access to financial services on the Botim Ultra app. ADIB and Botim will join forces to develop …
Companies Investments
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12:58 PM Al Qemam seals deal for information technology services
Riyadh – Mubasher: Al Qemam for Computer Systems Company has signed a SAR 7.33 million agreement with Afaq Saher Contracting Est for information technology services. Under the agreement, Al Qemam will implement information technology systems, …
Companies Investments
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12:26 PM Emaar Properties’ AGM approves high dividends of AED 4.4bn for 2023
Dubai – Mubasher: The annual general meeting (AGM) of Emaar Properties approved a cash dividend of 50 fils per share amounting to AED 4.40 billion ($1.20 billion) for 2023. The cash dividends align with the company's profitability and commitment …
Cash Dividends
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11:57 AM Etihad Airways starts Airbus A380 flights to New York
UAE – Mubasher: Etihad Airways started operating Airbus A380 double-decker aircraft with the first flight arriving at John F. Kennedy International Airport in New York from Abu Dhabi. The addition of the A380 has boosted Etihad's capacity in the …
Companies Investments
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11:24 AM Riyadh to host World Economic Forum Special Meeting on Global Collaboration
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 …
Event
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10:37 AM MEPCO rolls out agreement with global tech firm
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 …
Companies Investments
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10:12 AM Sharjah Islamic Bank records rise in Q1-24 profits to owners
Abu Dhabi – Mubasher: The net profits attributable to the owners of Sharjah Islamic Bank hit AED 259.65 million in the first quarter (Q1) of 2024, an annual growth from AED 233.06 million. Total operating income jumped to AED 504.74 million in …
Banking and Finance
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09:46 AM Spinneys unveils price range for IPO on DFM, expansion plans
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 …
Global Economy
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22 April 06:10 PM Egypt, Fujairah discuss building oil products free zone
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 …
Global Economy
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22 April 04:35 PM National Forum for SMEs to kick off tomorrow in Dubai
UAE – Mubasher: The National Forum for Small and Medium Enterprises - Government Procurement is set to launch in Dubai on Tuesday, 23 April 2024. The forum will be attended by more than 80 federal entities, national companies, and many owners of …
Event
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22 April 04:06 PM UAE stock markets close lower on Monday
UAE – Mubasher: The main index DFMGI of Dubai Financial Market (DFM) declined by 6.90 points (0.16%) on Monday, closing at 4,167.66 points. A total of 203.73 million shares were exchanged at a turnover of AED 383.90 million. National International …
Trading Activities
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22 April 03:57 PM TASI edges lower over 9 pts on Monday; NomuC dips 1.3%
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 Monday’s session. A total of 518.78 million shares were traded at a turnover worth SAR …
Trading Activities
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22 April 03:34 PM Aramco eyes equity acquisition in Chinese Hengli’s petrochemical firm
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 …
Companies Investments
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22 April 03:27 PM NMC wins SAR 381m contract for medical services
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 …
Companies Investments
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22 April 02:38 PM British Airways resumes flights to Abu Dhabi
UAE – Mubasher: British Airways has recommenced flights to Zayed International Airport in Abu Dhabi. The route has been paused for four years, according to the Emirates News Agency (WAM). Elena Sorlini, Managing Director and CEO at Abu Dhabi …
Companies Investments
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22 April 12:52 PM Fitness Time anchors expansion plans via new centre in Al Taif
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 …
Companies Investments
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22 April 12:39 PM Egypt-based Waffarha raises funding round from Saudi venture
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 …
Companies Investments