Top News

7 April 2025 09:32 AM Tawuniya’s board recommends SAR 225m dividends for 2024

Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) announced the board’s recommendation to pay out cash dividends valued at SAR 225 million for 2024. The insurance firm will disburse a dividend of SAR 1.50 per share for 150 …

Cash Dividends

6 April 2025 05:46 PM Emaar The Economic City submits capital hike file to CMA

Riyadh – Mubasher: The board members of Emaar The Economic City (EEC) applied to the Capital Market Authority (CMA) to increase its capital through debt conversion, according to a bourse filing. The transaction will be implemented through …

Companies Investments

6 April 2025 04:52 PM ADES Holding enters Brazilian market via SAR 319m agreement

Riyadh – Mubasher: ADES Holding Company has entered a charter agreement for its premium jackup rig, Admarine 511, with Constellation Oil Services Holding to execute a contract for Petrobras in Brazil. This agreement marks the Saudi group’s entry …

Companies Investments

6 April 2025 00:34 PM Elm secures SAR 1.9bn loan from SNB

Riyadh – Mubasher: Elm Company penned a Shariah-aligned facility agreement valued at SAR 1.90 billion with The Saudi National Bank (SNB) on 27 March 2025. The Saudi company aims to finance corporate expansion and acquisitions, according to a …

Companies Investments

6 April 2025 11:24 AM Entaj’s board mulls SAR 15m cash dividends for 2024

Riyadh – Mubasher: The board of Arabian Company for Agricultural and Industrial Investment (Entaj) recommended cash dividends valued at SAR 15 million for 2024. Entaj will pay out a dividend of SAR 0.50 per share, representing 5% of the share’s …

Cash Dividends

6 April 2025 10:22 AM Al Arabia, Multiply Group to derive global expansion in advertising sector

Mubasher: Arabian Contracting Services Company (Al Arabia) and Multiply Group's media vertical teamed up to create a joint venture (JV) to invest in the global out-of-home (OOH) advertising sector. The 90-day memorandum of understanding (MoU) will …

Companies Investments

4 April 2025 00:44 AM As US tariffs announced, EBA publishes new banks-related reports

Global Markets brief

3 April 2025 10:42 PM Al Ansari Exchange closely monitoring global currency markets amid new US tariffs

Dubai – Mubasher: Al Ansari Exchange, the subsidiary of Al Ansari Financial Services, stated that it is closely monitoring global currency markets following the recent US tariff announcements by President Donald Trump, according to a press …

Trade

3 April 2025 06:22 PM US stocks plummet on Thursday amid tariffs-driven recession fears

Global Indices

3 April 2025 03:45 PM Prices of investment funds including certificates in EGP, USD – Updated

Cairo – Mubasher: According to updated data, Mubasher is featuring mutual funds along with relevant prices based on the latest closing. Below you can find the names of Investment Funds as well as the price of each certificate in EGP, except for …

Mutual Funds

2 April 2025 07:15 PM Uber, WeRide partner with RTA to bring autonomous vehicles to Dubai

UAE – Mubasher: Uber Technologies and WeRide have teamed up with Dubai’s Road and Transport Authority (RTA) for autonomous vehicles (AVs), yet more details on the launch and next steps for the AVs pilot in Dubai will be announced in the coming …

Global Economy

2 April 2025 06:52 PM Ayan Capital secures up to GBP 25m financing, aims to become UK leader in Islamic banking

Mubasher: Ayan Capital, a fast-growing provider of halal vehicle financing, has raised up to GBP 25 million in Sharia-compliant financing facility from institutional debt provider Partners for Growth (PFG). The investment reflects the rising …

Global Economy

2 April 2025 04:14 PM EDGNEX by DAMAC acquires Finland’s Hyperco in step with driving success in region

UAE – Mubasher: EDGNEX Data Centers by DAMAC unveiled the takeover of Finland-founded data centre company, Hyperco. The acquisition contributes to the region's evolving data center landscape, creating new jobs and promoting economic development, …

Mergers and Acquisitions

1 April 2025 09:51 PM Global firm EXP announces partnership with oil-focused Al Suwaiket

Riyadh – Mubasher: EXP, a global engineering, architecture, design and consulting firm has teamed with Al Suwaiket Group, a leader in supplying products and services to the oil and gas industry, for projects in Saudi Arabia. The EXP Al Suwaiket …

Global Economy

1 April 2025 09:26 PM Chemanol incurs 53% higher net losses in 2024

Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) suffered net losses worth SAR 272.30 million in 2024. The negative results marked a 53.15% annual increase compared to SAR 177.80 million in 2023, according to the financial results. The …

Financial Results

1 April 2025 08:35 PM Takween announces 66% decline in 2024 net losses, 39% of capital accumulated losses

Riyadh – Mubasher: The net losses of Takween Advanced Industries Company shrank by 66.04% to SAR 75.83 million in 2024 compared to SAR 223.33 million in 2023. The loss per share decreased to SAR 1.05 in 2024 from SAR 4.09 a year earlier, according …

Financial Results

31 March 2025 07:25 PM Social Development Bank announces SAR 1.7bn total financing in Q1-25

Riyadh – Mubasher: The Social Development Bank (SDB) registered total financing of more than SAR 1.70 billion during the first quarter (Q1) of 2025, benefiting more than 20,000 citizens and enterprises. Meanwhile, the total financing for …

Banking and Finance

31 March 2025 06:37 PM Mitsubishi Power to supply gas turbines for projects in Saudi Arabia

Riyadh – Mubasher: Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries (MHI), recently received two major supply orders for the Rumah-1 and Al-Nairyah-1 Independent Power Plant (IPP) projects in Saudi Arabia, according to a …

Companies Investments

31 March 2025 03:42 PM Region-focused Reynaers Middle East completes iconic project in Iraq

Mubasher: International aluminium solutions provider Reynaers Middle East has successfully completed the World Heart Hotel and Mall in Iraq, according to a press release. The project, which is located in Baghdad, features panoramic design that …

Global Economy

30 March 2025 06:54 PM Bitpanda obtains VARA licence as beginning of expansion beyond Europe

UAE – Mubasher: Bitpanda, a virtual assets platform, has secured a Broker-Dealer licence from the Dubai Virtual Assets Regulatory Authority (VARA), obtaining approval in record time. This step marks the beginning of the company’s expansion beyond …

Companies Investments

30 March 2025 05:37 PM Agility Global generates $4.5bn revenue, $128m earnings in 2024; dividends unveiled

Abu Dhabi – Mubasher: Agility Global, a multi-business owner and operator with a global footprint in more than 70 countries, announced net profits worth $128 million, representing 1.25% per share, registered in 2024. The revenue increased by …

Global Economy

30 March 2025 03:27 PM Arab Energy Fund records highest-ever net income amid $10.9bn total assets in 2024

Mubasher: The Arab Energy Fund, formerly known as APICORP, achieved a record performance in 2024 with the highest-ever net income that was driven by strong asset growth across all business lines, increased efficiencies, and a favourable interest …

Global Economy

27 March 2025 09:38 PM Morabaha Marina Financing’s profits down 26.5% in 2024

Riyadh – Mubasher: Morabaha Marina Financing Company registered SAR 22.74 million in net profit at the end of December 2024, down 26.57% year-on-year (YoY) from SAR 30.96 million. The revenues climbed by 13.83% to SAR 192.85 million in 2024 from …

Financial Results

27 March 2025 08:19 PM Southern Province Cement logs SAR 244m net profits in 2024

Riyadh – Mubasher: Southern Province Cement Company registered SAR 244 million in net profit at the end of December 2024, an annual rise of 25.13% from SAR 195 million. The sales retreated by 12.62% year-on-year (YoY) to SAR 935 million in 2024 …

Financial Results