Middle east news

Dubai – Mubasher: Salik Company announced the combined valuation of the two new toll gates at Business Bay and Al Safa South at a total of AED 2.73 billion. The Business Bay Gate was valued at AED 2.26 billion and the Al Safa South Gate amounted …

UAE – Mubasher: The main index of Dubai Financial Market (DFM) ended Thursday’s trading session higher by 10.06 points (0.23%) at 4,334.26 points. A total of 141.49 million shares were exchanged during the session at a value of AED 305.97 million. …

Abu Dhabi - Mubasher: Invictus Investment Company inked an agreement to acquire a leading flour milling company in Southern Africa, according to a press release. The transaction is still subject to necessary regulatory approvals and closing …

Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) has received approval from the Securities and Commodities Authority (SCA) and the Abu Dhabi Securities Exchange (ADX) to proceed with an Initial Public Offering (IPO) of a portion of …

Riyadh – Mubasher: The board of Qassim Cement Company decided to disburse cash dividends valued at SAR 143.72 million for the first quarter (Q1) as well as Q2 of 2024. The company will distribute a dividend of SAR 1.30 per share, equivalent to SAR …

Cairo – Mubasher: Egyptian Financial and Industrial Company (EFIC) posted consolidated net profits after tax valued at EGP 788.88 million in the first half (H1) of 2024, an annual hike from EGP 435.50 million. The sales hit EGP 3.98 billion in …

Mubasher: Intelligent power management company Eaton launched a new office in Egypt, boosting its expansion strategy in the region’s growing commercial and industrial sectors, according to a press release. The new office will reinforce Eaton’s …

Cairo – Mubasher: Orascom Construction posted consolidated net profits after tax valued at $70.70 million in the first half (H1) of 2024, an annual drop of 46.80% from $132.90 million. Revenues reached $1.47 billion in H1-24, down 5.50% …

Riyadh – Mubasher: Makkah Construction and Development Company entered into share purchase agreements with 57 shareholders of First Avenue Real Estate Development Company on 27 August 2024. The Tadawul-listed company purchased 56.81 million shares …

Cairo – Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 65 billion through two auctions on Thursday, 29 August 2024. The first tranche was valued at EGP 35 billion and will mature in 182 days …

Riyadh – Mubasher: Siemens Mobility has announced Frank Hagemeier as its new CEO for Saudi Arabia, according to a press release. Hagemeier previously served as the CEO of Siemens Mobility Division in the Netherlands and China, bringing his …

Cairo – Mubasher: The Egyptian Exchange (EGX) showed a positive performance on Wednesday, with the EGX30 main index up by 1.14% to 30,709.59 points. Both the small- and mid-cap EGX70 EWI and EGX100 EWI indices closed the session higher by 0.80% at …

Riyadh – Mubasher: The main All Share Index (TASI) of the Saudi Exchange (Tadawul) declined by 0.53% and closed Wednesday’s trading session lower at 12,117.15 points. The trading value reached SAR 6.85 billion through the exchange of 248.07 …

UAE – Mubasher: Dubai-based Web3 streaming platform myco has completed the first closing of its Series A funding, raising $10 million, according to a press release, The fundraising transaction was led by prominent venture investors across MENA, …

Cairo – Mubasher: Orascom Development Egypt has sold a commercial building to Seoudi Supermarket within the O West commercial strip at a value of EGP 332 million. the transaction aims to integrate the first supermarket in the destination, which …

UAE – Mubasher: The main index of Dubai Financial Market (DFM) lost 19.02 points (0.43%) on Wednesday and ended the trading session at 4,324.20 points. A total of 297.93 million shares were exchanged during the session at a value of AED 454.67 …

UAE – Mubasher: The Abu Dhabi Ports and the Emirates Classification Society launched two offices in Kuwait to enhance maritime transportation cooperation, according to a press release. UAE’s Ambassador to Kuwait, Matar Al Neyadi, highlighted that …

UAE – Mubasher: Dubai Aerospace Enterprise (DAE) Limited had recently signed agreements to acquire 23 aircraft from multiple counterparties for nearly $1.10 billion, according to a press release. The aircraft portfolio has a weighted average age …

Riyadh – Mubasher: The Public Investment Fund (PIF) has obtained a $15 billion revolving credit facility for general corporate purposes, according to a press release. This funding, which replaces the previous $15 billion revolving credit facility …

Cairo - Mubasher: Egypt's Prime Minister, Mostafa Madbouly, reappointed Ahmed El-Sheikh as the Chairman of the Egyptian Stock Exchange (EGX). Meanwhile, Heba El-Serafi was announced as the Vice Chairman for a one-year term, according to an …

Mubasher: AVANA Companies formed a new $250 million with Oaktree for its direct private commercial real estate funding strategy, according to a press release. The AVANA-Oaktree Private Credit Partnership (AOPCP) will anchor the company’s direct …

Riyadh – Mubasher: Alkhaleej Training and Education Company inked a SAR 29.19 million contract with the Company for Cooperative Insurance (Tawuniya) on 27 August 2024. Tawuniya will provide medical insurance services to Alkhaleej Training’s …

Riyadh – Mubasher: flynas has announced new direct destinations and routes between Saudi Arabia and the UAE at the beginning of September, according to a press release. The airline expanded its network in the UAE market to be the largest air …