Mubasher: Saudi Arabia, the UAE, and Egypt accounted for 92% of total venture capital (VC) funding in the MENA region, according to a report by MAGNiTT. Saudi startups raised $400 million in VC funding in 2023, up 602% year-on-year (YoY), the …
Riyadh – Mubasher: Saudi Arabia’s Public Investment Fund (PIF) has announced the pricing of its inaugural GBP 650 million sterling-denominated bond under its Euro medium-term note programme. The issuance is oversubscribed by more than 600%, …
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA), Vision International Investment Company (Vision Invest), and Gulf Investment Corporation (GIC) closed the financing arrangements for the Juranah Independent Strategic Water Reservoir …
Riyadh - Mubasher: Pan Gulf Marketing Company obtained a SAR 70 million loan from Saudi Awwal Bank (SAB) on 29 May 2024, according to a bourse disclosure. The facility deal, which is valid for one year, is secured by a promissory note and a …
Riyadh – Mubasher: The Insurance Authority (AI) greenlighted, on 2 June, the request of Salama Cooperative Insurance Company to increase its capital by offering rights issues worth SAR 100 million. The company’s new capital will stand at SAR 300 …
Riyadh – Mubasher: Bank Aljazira has completed an off-market private transaction to buy 4.65 million shares in AlJazira Takaful Taawuni. The acquired stake represents 7.05% of the company’s capital, according to a bourse filing. Bank Aljazira …
Riyadh – Mubasher: Prefect Presentation for Commercial Services (2P Prefect Presentation) inked a new bank facility agreement with Alinma Bank at a total value of SAR 135 million. 2P Prefect Presentation obtained the loan on 2 June 2024 and it …
Riyadh – Mubasher: Saudi Export-Import Bank (Saudi EXIM) has signed a non-binding agreement with Australia’s Macquarie Group for credit facilities worth $500 million. Saudi EXIM will provide the facilities over three years to enhance the group’s …
Riyadh – Mubasher: The board members of Banque Saudi Fransi and Arabian Contracting Services Company (Al Arabia) proposed a capital hike by granting bonus shares, according to bourse disclosures. The bank will raise its capital through the …
Riyadh – Mubasher: Saudi Arabia’s National Debt Management Center (NDMC) has closed a $5 billion (SAR 18.75 billion) international trust certificate (sukuk) issuance programme. The sukuk issuance, divided into three tranches, received total orders …
Mubasher: The Middle East ranked as the fastest-growing real-time payment market for the second consecutive year in 2023, according to the 2024 Prime Time for Real-Time report by ACI Worldwide and GlobalData. The region's real-time payment market …
Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company obtained a Sharia-compliant banking facility valued at SAR 275 million from Bank Albilad on 27 May. The financing deal, which is secured by a promissory note, is valid till 5 March …
UAE – Mubasher: Holo, a direct mortgage platform in the UAE, has completed a pre-Series A funding round with oversubscription. The round was led by Dubai Future District Fund (DFDF), UK’s Oryx fund, and Aditum Investment Management., according to …
Riyadh – Mubasher: Saudi-based payment processing company PayTabs Group has partnered with financial management solutions provider NuMetric. The partnership enhances online invoice collection and automation, improving the overall platform …
Cairo – Mubasher: Egyptian logistics solution company OneOrder has raised $16 million in equity and debt in a Series A funding round. The funding is aimed at enabling the company to expand into the GCC region in autumn 2024, build up financing …
Riyadh – Mubasher: Goldman Sachs Group Incorporation became the first Wall Street bank to establish a Middle Eastern headquarters (HQ) in Saudi Arabia, according to Bloomberg. Goldman obtained a licence from the Saudi Ministry of Investment (MISA) …
Riyadh – Mubasher: The shareholders of Banque Saudi Fransi approved the board’s recommendation to distribute cash dividends valued at SAR 1.19 billion for the second half (H2) of 2023. The Saudi lender will pay out SAR 1 per share, representing …
Riyadh – Mubasher: The board of Aljazira Takaful Taawuni Company approved on 22 May 2024 the distribution of SAR 19.80 million in cash dividends for the fiscal year 2023. The eligibility and distribution dates will be announced at a later time, …
Riyadh – Mubasher: Saudi Arabia’s National Debt Management Center (NDMC) has closed a SAR 3.23 billion sukuk issuance. The sukuk issuance is divided into two tranches and a part of the government SAR-denominated sukuk programme, according to the …
Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) reduced its accumulated losses to 16.84% of the capital as of 31 March 2024, according to a bourse filing. ACIG suffered lower accumulated losses valued at SAR 49 million, mainly due to …
Riyadh – Mubasher: The shareholders of Arab National Bank (ANB) and Amlak International Finance Company greenlighted capital hike by granting bonus shares, according to bourse disclosures. ANB The Saudi lender will raise its capital by granting …
Riyadh – Mubasher: Riyad Capital has launched the 1957 Ventures fund, a closed-end investment fund backed by Riyad Bank to drive transformative growth in the Saudi fintech sector. The launch aligns with the objectives of Saudi Vision 2030 and the …
Riyadh – Mubasher: Software as a service (SaaS) provider Merit raised $12 million in its pre-Series B funding round led by Alistithmar Capital i-Cap, the esteemed investment arm of the Saudi Investment Bank (SAIB). The fundraising transaction was …
Riyadh – Mubasher: The Saudi National Bank (SNB) announced Saeed Mohammed Al Ghamdi as the board’s Chairman for the next three years. The lender also named Yazeed Abdulrahman Al Humied as the Vice Chairman, according to a bourse disclosure. The …
Riyadh – Mubasher: The board of Dr. Sulaiman Al Habib Medical Services Group agreed, on 18 May, to disburse cash dividends worth SAR 409.50 million for the first quarter (Q1) of 2024. The company will grant 350 million eligible shares a dividend …
