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02 October 07:31 AM

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1 October 05:12 PM Elm’s Tabadul endorses cooperation with subsidiary of SPARK through MoU
Riyadh – Mubasher: Saudi Information Exchange Company (Tabadul), a subsidiary of the listed Elm Company established in 2005, recently signed a memorandum of understanding (MoU) with King Salman Energy Park’s unit (SPARK) Energy City Logistics …
Companies Investments
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1 October 02:51 PM ACWA Power to establish Uzbekistan’s largest renewable energy projects
Riyadh – Mubasher: ACWA Power Company penned a joint development agreement with Japan’s Sumitomo Corporation to develop key renewable energy generation and storage projects in Uzbekistan. Located in Samarkand, the projects include Sazagan 1 and 2, …
Companies Investments
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30 September 09:49 AM Dr. Sulaiman Al Habib obtains SAR 1.3bn funding from Al Rajhi Bank
Riyadh – Mubasher: Dr. Sulaiman Al Habib Medical Services Group secured a credit facilities agreement valued at SAR 1.30 billion with Al Rajhi Bank, according to a bourse disclosure. The Saudi group obtained the loan, on 29 September 2024, to …
Banking and Finance
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29 September 11:29 AM Moody's affirms Almarai’s ‘Baa3’ rating; outlook changed to positive
Riyadh – Mubasher: Moody's Ratings has affirmed the ‘Baa3’ long-term issuer rating of Almarai Company and changed the outlook to positive from stable, according to a press release. The agency also maintained the ‘Baa3’ rating on the company's $750 …
Companies Investments
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29 September 10:01 AM GIG names new Chairman, Vice Chairman
Riyadh – Mubasher: Gulf Insurance Group (GIG) has appointed Yousef Saleh Abalkhail as the Chairman of the board, according to a bourse disclosure. The company’s board also named Bijan Khasaroshahi as the Vice Chairman for the next four years. The …
Board of Directors
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26 September 10:38 AM PayerMax, SAB join forces to support digital payments
Riyadh – Mubasher: PayerMax, a leading global provider of payment solutions, entered into a strategic partnership with Saudi Awwal Bank (SAB), according to a press release. The two entities aim to redefine the digital payments landscape and …
Companies Investments
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26 September 08:53 AM Elsewedy Electric announces $1bn project with SEC
Cairo – Mubasher: Elsewedy Electric Company has implemented a power generation station with a total capacity of around 1,200 megawatts (MW) using a combined cycle system in the Saudi city of Rabigh. The project includes the participation of Saudi …
Companies Investments
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26 September 08:30 AM Aramco, CNBM pen 5-year collaboration agreement
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has signed a five-year cooperation framework agreement (CFA) with the China National Building Material Group Company Limited (CNBM). The joint deal aims to explore new opportunities in advanced …
Companies Investments
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25 September 12:40 PM Saudi Zahrat Al Waha pens financing deal Qatar National Bank
Riyadh – Mubasher: Zahrat Al Waha for Trading Company inked a financing and banking services agreement with Qatar National Bank at a value of SAR 60 million. The facility deal is valid from 24 September 2024 to 26 June 2025, according to a bourse …
Companies Investments
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25 September 12:07 PM Banan Real Estate to develop joint stock company
Riyadh – Mubasher: Banan Real Estate Company plans to establish a simplified joint stock firm for investment and real estate development, according to a bourse disclosure. The board members approved the new entity, which will be developed with Al …
Companies Investments
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25 September 11:39 AM Emirates NBD inks SAR 100m facility deal with Chalhoub Group
Dubai – Mubasher: Emirates NBD has announced a SAR 100 million ESG-linked working capital facility with Chalhoub Group, the Middle East’s largest luxury goods retailer and distributor. The financing agreement marks Chalhoub’s first ESG-linked …
Banking and Finance
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25 September 10:56 AM Ooredoo unveils major financing to boost AI business in MENA
Mubasher: National Mobile Telecommunications Company (Ooredoo) secured a QAR 2 billion financing deal to accelerate the growth of its data centre and AI business in the MENA region. The 10-year financing agreement was signed with QNB, Doha Bank, …
Companies Investments
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25 September 10:00 AM SEC’s CEO resigns; Acting CEO appointed
Riyadh – Mubasher: Khalid bin Hamad Al Gnoon resigned from his position as the CEO of Saudi Electricity Company (SEC), which became effective on 25 September 2024. Khalid bin Salim Al Ghamdi was announced as the Company’s acting CEO, according to …
Corporate Actions
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24 September 03:12 PM Mashreq sells $385m stake NEOPAY to consortium
Dubai – Mubasher: A consortium including Arcapita Group Holdings Limited and Dgpays agreed to acquire a majority stake in NEOPAY, the UAE’s fast-growing payment solutions provider. Under the joint deal, Mashreq Bank will retain a significant …
Banking and Finance
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24 September 11:34 AM Aramco plans to issue USD-denominated Sukuk
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) plans to offer international trust certificates (sukuk) pursuant to SA Global Sukuk Limited’s Trust Certificate Issuance Programme. The offering’s amount is subject to market conditions, …
Companies Investments
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24 September 09:34 AM SAIC, Chubb Arabia appoint new CEO
Riyadh – Mubasher: Saudi Advanced Industries Company (SAIC) named Khalid bin Saeed Abu Khadra as the new CEO following Abdullah bin Sulaiman Al Juraish’s resignation from his position as the Acting CEO. The board members approved the appointment …
Banking and Finance
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23 September 12:27 PM e-finance launches 1st Africa-focused e-Commerce platform
Cairo - Mubasher: eAswaaq, a subsidiary of e-finance for Digital and Financial Investments, and Post for Investment, a unit of Egypt Post, launched the ECOM Africa company, according to a press release. The joint venture (JV) will develop and …
Global Economy
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23 September 09:11 AM ADNOC Distribution announces H1-24 dividends following higher profits
Abu Dhabi – Mubasher: The board of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution) approved interim cash dividends amounting to $350 million (AED 1.28 billion) for the first half (H1)of 2024. ADNOC Distribution is set to …
Board of Directors
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22 September 11:28 AM MESC inks SAR 100m financing agreement with Alinma Bank
Riyadh – Mubasher: Middle East Specialized Cables Company (MESC) secured a Sharia-compliant facility agreement valued at SAR 100 million with Alinma Bank on 19 September 2024. MESC will utilise the loan to finance its working capital and issue …
Companies Investments
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22 September 09:25 AM Emaar The Economic City submits capital cut request to CMA
Riyadh – Mubasher: Emaar The Economic City (EEC) submitted an application file to the Capital Market Authority (CMA), on 20 September 2024, to lower its capital. The group will cancel 563.11 million shares valued at SAR 5.63 billion to reduce its …
Management Decisions
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19 September 08:59 AM SARCO obtains SAR 500m financing from Riyad Bank
Riyadh – Mubasher: Saudi Arabia Refineries Company (SARCO) penned a Sharia-compliant facility deal valued at SAR 500 million with Riyad Bank on 17 September 2024. SARCO will use the loan for public investments, including buying shares and …
Companies Investments
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18 September 03:00 PM Alkhorayef Water rolls out joint deal worth SAR 220m
Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company was awarded, on 17 September, a SAR 219.98 million project contract with the National Water Company (NWC). The agreement covers the expansion of the tertiary treatment plant in …
Companies Investments
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18 September 10:51 AM Red Sea International pens SAR 1.5bn agreement with Modern
Riyadh – Mubasher: The Fundamental Installation for Electric Work Company Limited (First Fix) inked a SAR 1.52 billion deal with Modern Building Leaders Company, according to a bourse filing. First Fix, a subsidiary of Red Sea International …
Companies Investments
Egypt’s Prime Minister, Mostafa Madbouly, and Saudi Crown Prince Mohammed bin Salman
18 September 10:00 AM Egypt unveils investment plans with Saudi PIF, ACWA Power
Cairo - Mubasher: The Saudi Public Investment Fund (PIF) is expected to invest $5 billion in Egypt as part of the first phase of investments in the Arab Republic, according to an official statement. Egypt’s Prime Minister, Mostafa Madbouly, …
Companies Investments
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18 September 09:17 AM CATRION secures SAR 221m financing from SAB
Riyadh – Mubasher: CATRION Catering Holding Company penned a Sharia-compliant credit facility agreement with Saudi Awwal Bank (SAB) at an amount of SAR 221 million The company obtained the funding through its subsidiary CATRION Catering Services …
Banking and Finance