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14 September 11:04 PM

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12 September 03:48 PM Tadawul closes Thursday’s session up
Riyadh – Mubasher: The main All Share Index (TASI) of the Saudi Exchange (Tadawul) ended Thursday’s trading session in the green zone after rising by 0.65% to 11,842.55 points. The trading value reached SAR 6.49 billion through the exchange of …
Trading Activities
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12 September 03:23 PM Al Baha Investment submits capital cut request to CMA
Riyadh – Mubasher: Al Baha Investment and Development Company submitted an application file to the Capital Market Authority (CMA), on 11 September 2024, to lower its capital. The Saudi firm aims to reduce the company's capital from SAR 297 million …
Companies Investments
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12 September 02:09 PM MIS awarded SAR 94m project contract with SEC
Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) was awarded a project contract valued at SAR 93.72 million, on 10 September, with Saudi Electricity Company (SEC). The two entities are expected to sign the agreement on 30 September …
Companies Investments
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12 September 12:10 PM stc teams up with PIF’ unit to enhance digital solutions
Riyadh – Mubasher: Saudi Telecom Company (stc) inked a strategic partnership agreement with New Murabba, a subsidiary of the Public Investment Fund (PIF), according to a press release The partnership aims to improve and facilitate the …
Companies Investments
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12 September 09:50 AM Aramco boosts downstream strategy via key Chinese deals
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) signed agreements with key Chinese partners to bolster its ongoing contribution to the Republic’s long-term energy security and development. The deals were announced during a visit by a senior …
Companies Investments
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11 September 03:47 PM Tadawul shows mixed performance on Wednesday
Riyadh – Mubasher: The main All Share Index (TASI) of the Saudi Exchange (Tadawul) closed Wednesday’s trading session lower by 1.84% at 11,766,40 points. Al Baha Investment and Development Company, which advanced the gainers with 5.56%, was the …
Trading Activities
Photo Archive
11 September 03:18 PM Qomel eyes 100% capital hike
Riyadh – Mubasher: The board members of Qomel Company proposed a 100% capital raise to SAR 70 million from SAR 35 million, according to a bourse disclosure. The firm will capitalise SAR 32.62 million from the balance of share premium and SAR 2.40 …
Corporate Actions
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11 September 02:05 PM MENA’s Paymob raises $22m funding round
Mubasher: Paymob, MENA’s leading financial services enabler, has secured a $22 million Series B extension round, bringing the company’s total Series B funding to $72 million. The transaction was led by EBRD Venture Capital, Endeavor Catalyst, …
Companies Investments
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11 September 01:26 PM Palm Hills unveils EGP 22bn investment for development project, Saudi partnership
Cairo – Mubasher: Palm Hills Developments Company plans to invest about EGP 22 billion in construction next year, compared to EGP 8.50 billion targeted by the end of 2024. The development company is set to launch a new project on the North Coast …
Real estate
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11 September 12:58 PM Saudi events industry expected to hit $3.4bn in 2029
Riyadh – Mubasher: Saudi Arabia’s Event Management Industry is expected to grow from $2.38 billion in 2024 to $3.45 billion in 2029, according to a recent report by Mordor Intelligence. The Kingdom hosts large-scale events, including MDL Beast, …
Macroeconomics
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11 September 11:57 AM Saudi Enaya obtains regulatory nod for capital raise
Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Saudi Enaya Cooperative Insurance Company to raise its capital by SAR 150 million. The insurance firm aims to increase its capital to SAR 380 million from SAR 230 …
Management Decisions
Ahmad Al Khowaiter, Aramco EVP of Technology & Innovation
11 September 10:16 AM Aramco unveils plans to promote digital development at GAIN summit
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) announced new initiatives to drive and reinforce advanced digital solutions across its operations, according to a press release. The initiatives were unveiled during the Global AI Summit …
Global Economy
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11 September 09:34 AM Arabian Mills’s IPO generates SAR 134.1bn orders; final price announced
Riyadh – Mubasher: Arabian Mills for Food Products Company completed the institutional book building period for its initial public offering (IPO), setting the final price at SAR 66 per share. The company set the price range for its IPO between SAR …
Companies Investments
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11 September 09:08 AM FlapKap boosts regional expansion plans via $34m funding
Mubasher: UAE-based fintech FlapKap, which was originally established in Egypt, has raised $34 million in a pre-Series A funding round, according to a press release. The fundraising was led by BECO Capital and Pact VC, with follow-on contributions …
Companies Investments
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10 September 05:22 PM Tree launches Saudi Arabia’s first-of-kind product on back of Insurance Authority
Riyadh – Mubasher: Tree Digital Insurance Agency has officially launched the first Pet Insurance service in Saudi Arabia, marking a new era in the digital insurance industry. The groundbreaking product is designed to meet the growing needs of pet …
Global Economy
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10 September 03:45 PM TASI, NomuC end Tuesday’s session up
Riyadh – Mubasher: The main All Share Index (TASI) of the Saudi Exchange (Tadawul) closed Tuesday’s trading session higher by 0.20% at 11,986.60 points. The trading value amounted to SAR 7.18 billion through the exchange of 368.60 million shares. …
Trading Activities
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10 September 02:48 PM Qomel obtains SAR 51m financing to develop pharmaceutical factory
Riyadh – Mubasher: Qomel Manufacturing Company, a subsidiary of Qomel Company, was granted the Saudi Industrial Development Fund’s approval to finance the construction of the Qomel Pharmaceutical Manufacturing plant. The unit obtained the SAR …
Banking and Finance
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10 September 02:03 PM Ataa Educational renews SAR 510.5m loan from SAIB
Riyadh – Mubasher: Ataa Educational Company extended its Sharia-compliant facility deal with The Saudi Investment Bank (SAIB) at SAR 510.46 million on 9 September 2024. The facility agreement is secured by a promissory note with the value of the …
Companies Investments
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10 September 01:02 PM MENA-focused iyris expands business in Egypt’s agriculture sector
Mubasher: iyris, the agriclimate tech company formerly known as RedSea, entered into a strategic partnership with Hyma Plastic, the market leader of Agricultural Polyethylene film products in Egypt. Hyma Plastic was appointed as an exclusive …
Companies Investments
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10 September 11:57 AM Alandalus Property unveils SAR 140m development project
Riyadh – Mubasher: Alandalus Property Company has established an office building project in the Al Malqa district on King Salman Road in Riyadh city at nearly SAR 140 million, according to a bourse filing. The development project will be carried …
Real estate
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10 September 11:06 AM Apollo selects Abu Dhabi as 1st international outpost for family office
UAE – Mubasher: Leon Black has established a new branch of his family office, Elysium Management, at Abu Dhabi Global Market (ADGM), according to a press release. The new office, Scimitar, will serve as Elysium's first international office. …
Companies Investments
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10 September 10:20 AM Entlaq acquires equity ownership in Brotinni to boost regional expansion
Cairo – Mubasher: Entlaq, an Egypt-based company supporting entrepreneurs, has acquired a stake in foodtech Brotinni for an undisclosed value, according to a press release. The new investment will enable Brotinni to expand its footprint within the …
Companies Investments
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10 September 09:59 AM Zamil Industrial’s H1-24 accumulated losses hit 16.5% of capital; revenues cross SAR 2.6bn
Riyadh – Mubasher: Zamil Industrial Investment Company logged net profits amounting to SAR 11.52 million in the first half (H1) of 2024, against net losses of SAR 197.90 million in H1-23. The group registered revenues valued at SAR 2.63 billion in …
Financial Results
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10 September 09:03 AM Majid Al Futtaim, GCC-focused Tabby launch SHAREPay integration feature
UAE – Mubasher: Majid Al Futtaim and Tabby, the leading shopping and payments app in the GCC, launched a new feature that integrates Tabby into the SHARE app, according to a press release. By integrating Tabby’s buy now, pay later (BNPL) services …
Companies Investments
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9 September 06:04 PM PayTabs targets over SAR 200bn in payment volumes to drive MENA’s economy
Riyadh – Mubasher: PayTabs Group plans to exceed SAR 200 billion in payment processing volumes by 2025, according to a statement in line with the 24 Fintech event that was held in Saudi Arabia for three days last week. The set target aligns with …
Companies Investments