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13 July 11:08 AM

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11 July 04:48 PM Tadawul’s indices end Thursday in green
Riyadh – Mubasher: The main All Share Index (TASI) of the Saudi Exchange (Tadawul) edged higher by 0.07%, closing Thursday’s trading session at 11,792.41 points. TASI’s trading value stood at SAR 6.42 billion through the exchange of 219.35 million …
Trading Activities
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11 July 04:09 PM Diriyah rolls out construction contract exceeding $2bn
Riyadh – Mubasher: Diriyah Company has created a new mixed-use district in the north of Diriyah, the joint venture (JV) Northern District Construction Contract that exceeds a value of $2 billion (SAR 7.80 billion). The deal aims to build advanced …
Companies Investments
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11 July 03:41 PM Islamic Development Bank finances solar, battery projects in Uzbekistan
Riyadh – Mubasher: The Islamic Development Bank (IsDB) is providing financing for 200 megawatts (MW) solar farm and 500 MW battery storage projects in Uzbekistan's Tashkent region. The historic renewable energy venture, sponsored by Saudi firm …
Banking and Finance
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11 July 03:31 PM GCC, UK in talks to sign free trade deal by 2024-end
Mubasher: The Gulf Cooperation Council (GCC) is negotiating a free trade agreement (FTA) with the UK that could be signed by the end of 2024. The bloc’s Secretary-General Jasem Albudaiwi held a meeting with UK Trade Minister Jonathan Reynolds in …
Macroeconomics
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11 July 01:47 PM Aramco partners with Dell, NITA on advanced tech talent development in KSA
Riyadh – Mubasher: Dell Technologies, Saudi Arabian Oil Company (Aramco), and the National IT Academy have signed an agreement to upskill Saudi students in science and technology. The four-month ITXcelerate programme will provide recent Saudi …
Companies Investments
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11 July 12:42 PM Fitness Time announces new name on Tadawul
Riyadh – Mubasher: Leejam Sports Company has announced changing its name on the Saudi Exchange (Tadawul) from Fitness Time to Leejam Sports. The decision aims to align the company’s name with its vision of being the leader in the sports and …
Corporate Actions
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11 July 12:35 PM SIDC’s unit inaugurates 1st branch in Egypt
Riyadh – Mubasher: The Arabian Spring and Foam Mattresses Manufacturing Company (Sleep High), an Egypt-based subsidiary of Saudi Industrial Development Company (SIDC), opened its first branch in the City Stars Center Through the branch in Nasr …
Companies Investments
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11 July 12:14 PM ADES wins 10-year extension for Saudi jackup rig contract
Riyadh – Mubasher: ADES Holding, an international drilling services provider, has secured a long-term contract extension for the Admarine 657 jackup rig in Saudi Arabia. With a duration of 10 years, the new contract is expected to immediately …
Companies Investments
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11 July 11:20 AM Jarir posts 3% drop in H1-24 profits; revenues cross SAR 5.2bn
Riyadh – Mubasher: Jarir Marketing Company (Jarir Bookstores) witnessed a 3.24% year-on-year (YoY) decline in net profit to SAR 390.40 million in the first half (H1) of 2024, compared to SAR 403.50 million. Estimated revenues hit SAR 5.29 billion …
Financial Results
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11 July 10:39 AM Al Arabia teams up with SCAI to establish special purpose company
Riyadh – Mubasher: Arabian Contracting Services Company (Al Arabia) established a special purpose company Alarabia Alliances for Smart Advertisement, according to a bourse disclosure. The limited liability company was created in partnership with …
Companies Investments
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11 July 10:10 AM Stride Ventures makes 1st GCC investment of $1m in Maalexi
Riyadh – Mubasher: Stride Ventures, a global venture debt firm from India, marked a key milestone in its international strategy by announcing its first $1 million venture debt investment in Maalexi as part of a broader GCC commitment. The funding …
Companies Investments
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11 July 09:20 AM Aramco Digital, World Wide Technology to foster AI solutions
Riyadh - Mubasher: Aramco Digital, a subsidiary of Saudi Arabian Oil Company (Saudi Aramco), and World Wide Technology (WWT) have partnered to boost the digital transformation in Saudi Arabia and empower its economy to leverage innovative …
Companies Investments
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10 July 07:37 PM Burgerizzr unveils key board appointments
Riyadh – Mubasher: Shatirah House Restaurant Company (Burgerizzr) has appointed Mohammed bin Ali Al Ruwaigh as the Chairman of the board for the coming four years. Sami bin Mohammed Obaid has been named as the Vice Chairman for the same board …
Corporate Actions
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10 July 07:16 PM 2P Prefect Presentation pens SAR 121m facility agreement with Riyad Bank
Riyadh – Mubasher: Prefect presentation for commercial services Company (2P Prefect Presentation) has signed a Sharia-aligned increase facility agreement with Riyad Bank on 10 July 2024. The facility agreement holds a value of SAR 121 million …
Banking and Finance
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10 July 04:21 PM TASI edges higher on Wednesday; NomuC shrinks 0.18%
Riyadh – Mubasher: The main All Share Index (TASI) of the Saudi Exchange (Tadawul) inched higher by 0.04%, ending Wednesday’s trading session at 11,784.09 points. TASI’s trading value stood at SAR 5.17 billion through the exchange of 211.31 …
Trading Activities
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10 July 03:06 PM Servme, MyFatoorah partner to enhance digital payments in Middle Eastern restaurants
Mubasher: Servme, the leading reservation and guest CRM platform for restaurants and hospitality operators, had entered into a partnership with MyFatoorah, a leading payments platform, to boost payment adoption for restaurants across the Middle …
Companies Investments
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10 July 01:11 PM Saudi Re completes procedures to exit UK’s Probitas; Aviva seals GBP 249m acquisition
Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) has announced the completion of all procedures to conclude selling its entire 49.90% equity in the UK-based Probitas Holdings (Bermuda) Limited (PHBL) and its subsidiaries. Saudi Re exited …
Mergers and Acquisitions
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10 July 12:27 PM Saudi Arabia tops MENA's VC funding in H1-24 – Report
Riyadh – Mubasher: Saudi Arabia ranked first in MENA in terms of the value of venture capital (VC) investments during the first half (H1) of 2024, attracting $412 million, down 7% year-on-year (YoY), according to a report by MAGNiTT. Around 32% of …
Macroeconomics
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10 July 10:50 AM Elm inks agreement with Saudi Ministry of Interior, Data & AI Authority
Riyadh – Mubasher: Elm Company has signed an agreement with the Ministry of Interior and the Saudi Data and AI Authority (SDAIA) to develop and provide products and services. Signed on 9 July 2024, the agreement has a duration of 10 years starting …
Companies Investments
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9 July 04:29 PM GCC’s project awards drop 20% YoY in Q2-24 – Report
Mubasher: The GCC saw a notable decline in project awards during the second quarter (Q2) of 2024, with total awards dropping by 19.70% year-on-year (YoY) to $51.70 billion from $64.30 billion in the same period last year. This downturn was …
Sector Reports
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9 July 03:51 PM Tadawul shows mixed performance on Tuesday
Riyadh – Mubasher: The main All Share Index (TASI) of the Saudi Exchange (Tadawul) went up by 0.53% and ended Tuesday’s trading session at 11,779.83 points. TASI’s trading value stood at SAR 5.20 billion through the exchange of 208.73 million …
Trading Activities
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9 July 03:22 PM Ayyan Investment obtains shareholders’ nod for 25% capital hike
Riyadh – Mubasher: The shareholders of Ayyan Investment Company approved a 24.80% capital raise to SAR 1 billion from SAR 806.36 million, according to a bourse disclosure. After implementing the transaction, the number of shares will stand at …
Management Decisions
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9 July 02:59 PM Othaim Markets pens SAR 331.5m lease agreement
Riyadh – Mubasher: Abdullah Al Othaim Markets Company inked a SAR 331.53 million contract with the General Organization for Social Insurance to lease land in Dammam, according to a bourse filing. The deal, which was signed on 8 July 202, covers …
Companies Investments
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9 July 02:57 PM MyAlice partners with AstroLabs to expand in Saudi Arabia
Riyadh – Mubasher: Customer support solution provider MyAlice has launched its first headquarters in Riyadh, expanding operation in Saudi Arabia, in cooperation with AstroLabs. MyAlice seeks to enlarge its presence in Saudi Arabia by supporting …
Companies Investments
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9 July 01:51 PM SHL extends SAR 2bn facility deal with ANB
Riyadh – Mubasher: Saudi Home Loans Company (SHL) renewed a Sharia-compliant credit facilities agreement with Arab National Bank (ANB) at an amount of SAR 2.05 billion. The facility will be used to expand and increase the sales volume in line with …
Companies Investments