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2 hours ago ADX teams up with Eureeca to expand IPOs globally
UAE – Mubasher: Abu Dhabi Securities Exchange (ADX) partnered with Eureeca, a global investment platform with a presence in Europe, to expand access to global investors to initial public offerings (IPOs) ADX and Eureeca will build on the …
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moments ago Shuaa Capital’s board approves changing terms of $150m bonds
Dubai – Mubasher: Shuaa Capital obtained the board’s approval to launch a consent solicitation relating to amending terms and conditions for $150 million in its issued bonds. In line with the listed company’s plans to enhance its capital …
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15 minutes ago Global energy transition efforts face hard realities – Aramco’s CEO
Riyadh – Mubasher: The global energy transition strategy has not succeeded in many aspects due to five hard realities that should be considered to adjust its path, stated Amin Nasser, President & CEO of Saudi Arabian Oil Company (Aramco). These …
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1 hour ago RAKBANK announces 2 key appointments
Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) appointed Mohamed Omran Al Shamsi as the Chairman of the board. The lender’s board members also elected Shaikha Amneh Al Qasimi as the Vice Chairperson, according to a bourse …
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18 March 03:25 PM UAE stock markets close Monday with positive performance
UAE – Mubasher: The benchmark index DFMGI of Dubai Financial Market (DFM) rose by 12.90 points (0.30%) on Monday, closing at 4,275.38 points. A total of 231.94 million shares were exchanged, generating a turnover of AED 389.64 million. Al Firdous …
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18 March 02:01 PM Ooredoo, e& team up to evolve submarine network in Middle East
Abu Dhabi – Mubasher: e& and National Mobile Telecommunications Company (Ooredoo) partnered to deploy the subsea latest technology enabling the Gulf Gateway Cable (GGC1) system, according to a press release. The two entities will join forces to …
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18 March 10:55 AM Aldar Properties sells Abu Dhabi’s most expensive apartment
Abu Dhabi – Mubasher: Aldar Properties has announced selling the most expensive apartment in Abu Dhabi for AED 137 million, or AED 96,000 per square meter. The sold unit is a three-bed penthouse at Nobu Residences on Saadiyat Island, according to …
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17 March 03:21 PM Du, Samsung partner to expand electronic business
Dubai – Mubasher: Emirates Integrated Telecommunications Company (du) teamed up with Samsung to expand the business-to-consumer (B2C) and business-to-business (B2B) segments, according to a press release. Karim Benkirane, Chief Commercial Officer …
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17 March 02:37 PM Union Properties incurs AED 2.1bn accumulated losses
Dubai – Mubasher: The accumulated losses of Union Properties reached AED 2.10 billion at the end of the fourth quarter (Q4) of 2023, accounting for 49.08% of the firm’s capital. The losses are mainly attributed to a fair value loss of AED 2.07 …
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17 March 02:10 PM Air Arabia’s shareholders greenlight 20% dividend distribution for 2023
Dubai – Mubasher: The shareholders of Air Arabia approved the distribution of a 20% cash dividend for the financial year that ended on 31 December 2023, according to a press release. During  the company’s Annual General Meeting (AGM), the …
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17 March 01:28 PM Julphar’s 2023 accumulated losses hit 30% of capital; revenues up
Abu Dhabi – Mubasher: Gulf Pharmaceutical Industries (Julphar) registered accumulated losses valued at AED 346.70 million as of 31 December 2023. The incurred accumulated losses represent 30% of the company’s paid-up capital, according to a bourse …
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17 March 12:33 PM Emaar Development’s board mulls AED 2bn dividends for 2023
Dubai – Mubasher: The board members of Emaar Development approved cash dividends valued at AED 2.08 billion for 2023, according to a bourse filing. The company will disburse a dividend of 52 fils per share, which is still subject to the approval …
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17 March 12:19 PM SVC invests $30m in UAE-based Olive Rock Partners’ equity fund
Riyadh – Mubasher: Saudi Venture Capital (SVC) has invested $30 million in UAE-based Olive Rock Partners Fund I, a regional private equity fund focusing on investing in macro-supported mid-market buyouts. Rock Partners Fund I plans to focus on …
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14 March 04:10 PM Majid Al Futtaim’s consolidated revenues up to AED 34.5bn in 2023
UAE – Mubasher: Majid Al Futtaim logged an annual rise of 1% in consolidated revenue to AED 34.50 billion as of 31 December 2023, according to a press release. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) jumped by 12% …
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14 March 03:30 PM Ithmaar Holding’s CEO Taleb resigns
Mubasher: Ithmaar Holding, which is listed on Bahrain Bourse as well, has announced the resignation of its CEO, Abdulla Abdulaziz Taleb, according to a bourse filing. Taleb, who will officially leave the company on 14 April 2024, also resigned …
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14 March 02:31 PM UAE stock markets close Thursday’s trading session higher
UAE – Mubasher: The main index of Dubai Financial Market (DFM) gained 31.10 points (0.73%) on Thursday and closed the trading session at 4,290.34 points. DFM’s turnover amounted to AED 472.88 million through the exchange of 227.44 million shares. …
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14 March 02:04 PM Investopia pens deal with EFG Consulting to launch business in Europe
UAE – Mubasher:  Investopia signed a new memorandum of understanding (MoU) with EFG Consulting to enhance cooperation and explore investment opportunities in Europe, according to a press release. The two parties will examine recent trends in …
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14 March 01:38 PM Parkin raises AED 1.6bn from IPO; final offering price unveiled
Dubai – Mubasher: Parkin Company has concluded the bookbuild process for its initial public offering (IPO), setting the final offer price at AED 2.10 per share. The transaction will result in AED 1.57 billion ($428.69 million) of gross proceeds …
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14 March 11:41 AM Paklaunch eyes regional expansion via new funding round
Mubasher: Paklaunch has closed its seed funding round with undisclosed value to boost the startup ecosystem in Pakistan and the GCC region, according to a press release. The fundraising was led by Disrupt.com with the participation from Indus …
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14 March 10:43 AM ADNOC Drilling’s shareholders unveil payment date for H2-23 dividends
Abu Dhabi – Mubasher: ADNOC Drilling Company’s general assembly meeting has approved the distribution of AED 1.31 billion, or 8.22 fils per share, in cash dividends, for the second half (H2) of 2023. The dividends are set to be paid no later than …
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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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13 March 05:03 PM Emirates NBD-Egypt launches new branch in Qena
Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of DFM-listed Emirates NBD, opened its newest branch in Qena Governorate within its expansion strategy to offer a comprehensive scope of services, according to a press release. The inauguration …
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13 March 04:23 PM DMCC registers $38bn diamond trade’s value in 2023
UAE – Mubasher: Dubai Multi Commodities Centre (DMCC) announced that Dubai’s value of rough and polished diamonds trade increased by 2% year-on-year (YoY) to $38.30 billion in 2023. This represents a five-year compound annual growth rate of 11%, …
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13 March 03:43 PM G42 launches new AI-backed tool
UAE – Mubahser: G42 has unveiled new AI-based tool BoardNavigator to transform corporate strategy and governance, according to a press release. The new tool, which is set to be available worldwide, will analyse large proprietary and public data to …
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13 March 02:31 PM DFM, ADX collectively rise on Wednesday
UAE – Mubasher: The main index of Dubai Financial Market (DFM) ended Wednesday’s trading session higher by 6.47 points (0.15%) at 4,259.24 points. The turnover reached AED 1.17 billion through the exchange of 226.46 million shares. GFH Financial …