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News

28 April 2024 01:13 PM Saudi Steel Pipe logs 1,166% profit surge in Q1-24

Riyadh – Mubasher: Saudi Steel Pipe Company posted a 1,166% year-on-year (YoY) increase in net profit to SAR 76 million in the first quarter (Q1) of 2024 from SAR 6 million. Revenues soared 208.38% YoY to SAR 515 million in Q1-24 from SAR 167 …

Financial Results

28 April 2024 01:04 PM ANB’s net profit rises 16% YoY in Q1-24

Riyadh – Mubasher: Arab National Bank (ANB) reported a 15.73% year-on-year (YoY) jump in net profit to SAR 1.23 billion in the first quarter (Q1) of 2024 from SAR 1.06 billion. Total operations profit went up by 5.91% YoY to SAR 2.30 billion in …

Financial Results

25 April 2024 04:49 PM Sure Global Tech pens SAR 60m deal with Shura Council

Riyadh – Mubasher: Sure Global Tech Company inked a contract with the Shura Council, on 24 April, to operate and maintain computers for the Shower project. The two entities penned the agreement at a value of SAR 60.09 million, according to a …

Companies Investments

25 April 2024 04:18 PM Americana Restaurants’ general assembly nod for AED 661m dividends

Mubasher: Americana Restaurants International, also listed on the Abu Dhabi Securities Exchange (ADX), announced the shareholders’ approval for cash dividends valued at AED 661.25 million  The general assembly meeting greenlighted dividends of AED …

Cash Dividends

25 April 2024 03:32 PM Keir International, Tanmiah sign SAR 24m contract for consultation services

Riyadh – Mubasher: Keir International Company has inked a SAR 24 million agreement with the National Program for Community Development in Regions (Tanmiah) for consultation services in digital transformation. The agreement includes implementing a …

Companies Investments

24 April 2024 01:24 PM Saudi foreign trade authority awards contract to Sure Global Tech

Riyadh – Mubasher: Saudi Arabia’s General Authority of Foreign Trade has awarded Sure Global Tech Company a SAR 13.86 million contract to diversify and develop supply chains in goods to ensure abundance and quality. The contract includes the …

Companies Investments

24 April 2024 11:35 AM Alinma Bank’s EGM nods for 25% capital hike

Riyadh – Mubasher: The shareholders of Alinma Bank greenlighted the board’s proposal to increase the capital by SAR 5 billion from the retained earnings by way of granting one share for every four shares. The lender’s extraordinary general meeting …

Management Decisions

24 April 2024 11:25 AM Fitness Time opens new men's centre in Al Majma

Riyadh – Mubasher: Leejam Sports Company (Fitness Time) inaugurated a new centre for men in Al Majma Province on 23 April 2024. Situated on Umar bin Al Khattab Road in King Abdul Aziz district, the new centre operates under the brand Fitness Time, …

Companies Investments

23 April 2024 05:13 PM First Mills’ profit rises 5% YoY in Q1-24

Riyadh – Mubasher: The net profit of First Milling Company (First Mills) grew 5.37% year-on-year (YoY) to SAR 77.72 million during the first quarter (Q1) of 2024 from SAR 73.75 million in the comparative period of 2023. Revenues rose 8.17% YoY to …

Financial Results

23 April 2024 04:16 PM Alhokair Group unveils 2 key appointments

Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development (Alhokair Group) appointed Sami Abdul Mohsen Abdulaziz Al Hokair as the Chairman of the board for four years. Faisal Mohammed Ibrahim Al Malik was named as the board’s Vice …

Management Decisions

23 April 2024 03:21 PM Al Yamamah Steel begins commercial production of Jeddah Pipes factory

Riyadh – Mubasher: Al Yamamah Steel Industries Company highlighted that the first phase of the expansion of the Jeddah Pipes factory started commercial production in April 2024. In a bourse statement, the company noted that the financial impact is …

Companies Investments

23 April 2024 00:58 PM Al Qemam seals deal for information technology services

Riyadh – Mubasher: Al Qemam for Computer Systems Company has signed a SAR 7.33 million agreement with Afaq Saher Contracting Est for information technology services. Under the agreement, Al Qemam will implement information technology systems, …

Companies Investments

22 April 2024 00:52 PM Fitness Time anchors expansion plans via new centre in Al Taif

Riyadh – Mubasher: Leejam Sports Company (Fitness Time) inaugurated a new centre for ladies in Al Taif on 21 April 2024, according to a bourse filing. Located in Wadi Waj Road, Al Qamariah district, the new centre will include advanced facilities …

Companies Investments

21 April 2024 04:39 PM Amlak International renews SAR 864.5m loan deal with SAIB

Riyadh – Mubasher: Amlak International Finance Company has renewed the SAR 864.50 million one-year credit facility agreement with the Saudi Investment Bank (SAIB). The Sharia-compliant loan will be used to facilitate the company's business and …

Companies Investments

18 April 2024 06:04 PM Yansab appoints Al Solami as CEO; Bazaid nominated for SABIC role

Riyadh – Mubasher: Yanbu National Petrochemical Company (Yansab) has appointed Wazen Al Solami to be the CEO of Yansab starting from 1 May 2024. The decision was made during the board meeting on 18 April this year, according to a bourse filing. Al …

Corporate Actions

18 April 2024 05:02 PM Tadawul unveils SSOs contracts on Ma'aden

Riyadh – Mubasher: The Saudi Exchange (Tadawul) launched the Single Stock Options (SSOs) contracts on the Saudi Arabian Mining Company (Ma'aden). SSOs are set to be available from 21 April 2024, which will be cleared by the Securities Clearing …

Trading Activities

18 April 2024 03:20 PM Cleopatra Hospitals, Fawaz Al Hokair’s unit partner to support healthcare in Saudi Arabia

Cairo – Mubasher: Cleopatra Hospitals Group (CHG), has entered into a strategic partnership with Mumtada Medical Care Company, the healthcare arm of Saudi Arabia’s Fawaz Abdulaziz Al-Hokair Company (Cenomi Retail), to launch 200-bed rehabilitation …

Global Economy

18 April 2024 01:20 PM Sure Global Tech signs SAR 94m contract to develop electronic platform

Riyadh – Mubasher: Sure Global Tech Company has signed a three-year contract with a total value of SAR 94.16 million. Under the contract, Sure will build, develop, and operate an electronic platform, according to a bourse filing. The contract is …

Companies Investments

18 April 2024 11:27 AM Alkhorayef Water wins SAR 1.7bn contract for sewage treatment plants

Riyadh – Mubasher: Alkhorayef Water and Power Technologies Company has been awarded a SAR 1.72 billion contract from National Water Company for long-term operation and maintenance works at Sewage Treatment Plants in Al Ahsa City. Under the 15-year …

Companies Investments

17 April 2024 05:11 PM Edarat Communication’s EGM approves 100% new capital hike

Riyadh – Mubasher: The shareholders of Edarat Communication and Information Technology Company gave a nod, during their extraordinary general meeting (EGM) on 16 April 2024, for doubling the capital through bonus shares.   This decision builds on …

Corporate Actions

17 April 2024 04:07 PM National Building renews SAR 85m loan deal with Alinma Bank

Riyadh – Mubasher: National Building and Marketing Company has extended a Sharia-aligned bank facilities agreement with Alinma Bank as signed on 16 April 2024. The revolving loan is valued at SAR 85 million and holds a nine-month tenor, according …

Banking and Finance

17 April 2024 10:41 AM Saudi Cable names new CEO, Managing Director

Riyadh – Mubasher: Saudi Cable Company named Fawaz Mubarak Al Muqbel as its new CEO as of 17 April 2024, according to a bourse disclosure. Al Muqbel succeeded Nael Samir Fayez, who was appointed as the company’s CEO in February 2023 and currently …

Management Decisions

16 April 2024 02:31 PM Ladun Investment’s board nods for SAR 573m loan from Al Rajhi Bank

Riyadh – Mubasher: Ladun Investment Company’s board approved signing a SAR 573 million credit facility agreement with Al Rajhi Bank. The loan will be used to finance the company and its subsidiary Built Industrial, according to a bourse filing. …

Real estate

15 April 2024 02:00 PM Fitness Time launches new centre in Muzahmia

Riyadh – Mubasher: Leejam Sports Company (Fitness Time) opened a new centre for men in Muzahmia Province on 14 April 2024, according to a bourse filing. The centre is located in the Nawara district of Muzahmia Province and will contain advanced …

Companies Investments

15 April 2024 10:04 AM GFH seeks to acquire Ithmaar Holding’s portfolios

Mubasher: GFH Financial Group announced plans to acquire the financing and investment portfolios of Ithmaar Holding, according to a bourse disclosure. GFH highlighted that discussions are in progress to finalise the transaction structure, which is …

Companies Investments