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28 March 06:28 PM Amlak International to raise capital by 12.5% via bonus shares upon regulatory nod
Riyadh – Mubasher: The Capital Market Authority (CMA) approved for Amlak International Finance Company to increase its capital by 12.50% or SAR 113.25 million through the issuance of 11.32 million bonus shares. The company will issue one bonus …
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28 March 06:01 PM Four companies receive CMA approval for Nomu listing
Riyadh – Mubasher: The Capital Market Authority (CMA) has greenlighted the registration and offering of Leaf Global Environmental Services Company’s shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul). Leaf Global plans to offer …
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28 March 05:42 PM Yamama Cement obtains SAR 800m financing from Alinma Bank
Riyadh – Mubasher: Yamama Cement Company has received Sharia-aligned banking facilities over three tranches from Alinma Bank at a total value of SAR 800 million. The largest long-term funding is worth SAR 500 million and holds a duration of 10 …
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28 March 05:14 PM TASI, NomuC close Thursday in red zone
Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) decreased by 42.09 points (0.33%) on Thursday, closing the session at 12,565.89 points. The turnover stood at SAR 10.53 billion through the trading of …
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28 March 03:59 PM 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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28 March 03:24 PM 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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28 March 01:45 PM 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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28 March 01:23 PM 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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28 March 01:01 PM 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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28 March 12:10 PM 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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28 March 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 04:23 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 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 02:07 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 …
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27 March 01:44 PM Taiba Investments’ profit tumbles 21% YoY in 2023; dividends recommended
Riyadh – Mubasher: The net profit of Taiba Investments Company declined by 21.33% year-on-year (YoY) to SAR 109.80 million in 2023 from SAR 139.57 million. Revenues soared 62.41% YoY to SAR 536.41 million last year from SAR 330.28 million, …
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27 March 12:58 PM UAB’s net profits exceed AED 255m in 2023
Abu Dhabi – Mubasher: The United Arab Bank (UAB) registered AED 255.30 million in net profit during 2023, higher than AED 154.72 million in 2022. Total interest income and income from Islamic financing products hit AED 921.61 million last year, up …
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27 March 12:44 PM Saudi Re’s net profit leaps 64% YoY in 2023
Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) recorded a 63.61% year-on-year (YoY) jump in net profit after Zakat attributable to shareholders of SAR 124.42 million in 2023 from SAR 76.05 million. Insurance revenues declined by 10.02% …
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27 March 12:30 PM CMA greenlights Alinma Bank’s capital raise
Riyadh – Mubasher: The Capital Market Authority (CMA) approved the capital hike of Alinma Bank to SAR 25 billion from SAR 20 billion by granting one bonus share for every four owned shares. The lender will capitalise SAR 5 billion from the …
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27 March 12:15 PM Kingdom Holding’s profit drops 85% YoY in 2023; dividends proposed
Riyadh – Mubasher: Kingdom Holding Company logged an 85.44% year-on-year (YoY) plunge in net profit to SAR 1.01 billion in 2023 from SAR 6.95 billion. Revenues grew 8.48% YoY to SAR 2.70 billion last year from SAR 2.49 billion, according to the …