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News

10 October 2024 09:52 AM Modern Mills obtains SAR 871m loan from SNB

Riyadh – Mubasher: Modern Mills for Food Products Company inked a Murabaha financing agreement with The Saudi National Bank (SNB), on 8 October 2024, at a value of SAR 871 million. The facility deal aims to settle existing Alinma Bank debt, …

Banking and Finance

9 October 2024 10:02 AM Cenomi Centers, GIB Capital launch SAR 1bn fund

Riyadh - Mubasher: Arabian Centres Company (Cenomi Centers) and GIB Capital partnered to establish a closed-end Shariah-compliant real estate investment fund with an initial capital of SAR 1 billion. The fund will facilitate the Qassim land sale …

Companies Investments

8 October 2024 03:23 PM Cenomi Retail launches 12 new Subway branches in Saudi Arabia

Riyadh – Mubasher: Fawaz Abdulaziz Al Hokair Company (Cenomi Retail) opened 12 new Subway branches across Saudi Arabia in a single day, setting a new world record for the number of openings. This strategic move caters to a range of consumer …

Companies Investments

8 October 2024 11:12 AM Ladun unveils over SAR 645.5m project award for Built Industrial

Riyadh – Mubasher: Built Industrial Company, a subsidiary of Ladun Investment Company was awarded a SAR 645.66 million project contract from Real Estate Development Fund Company. Ladun’s unit received the project award on 6 October 2024 and is …

Real estate

7 October 2024 09:03 PM Alinma Bank collaborates with Dell to endorse digital transformation

Riyadh – Mubasher: Alinma Bank has signed a memorandum of understanding (MoU) with Dell Technologies to accelerate Saudi-based bank’s digital transformation initiatives and enhance financial services innovation, according to a press release. The …

Banking and Finance

3 October 2024 11:45 AM Saudi Networkers Services unveils SAR 12m dividends for H1-24

Riyadh – Mubasher: The board of Saudi Networkers Services Company (SNS) recommended cash dividends valued at SAR 12 million for the first half (H1) 2024, according to a bourse filing. Under the board’s proposal that decided on 2 October 2024, the …

Cash Dividends

29 September 2024 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 …

Corporate Actions

26 September 2024 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

25 September 2024 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, …

Global Economy

22 September 2024 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

19 September 2024 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 …

Banking and Finance

18 September 2024 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 …

Companies Investments

17 September 2024 02:00 PM GFH extends strategic partnership with FII Institute ahead of FII8 event in Saudi Arabia

Mubasher: Cross-listed GFH Financial Group has renewed its groundbreaking strategic partnership with FII Institute, a global non-profit foundation in Saudi Arabia, for three years to foster global innovation and sustainable development. Extending …

Companies Investments

16 September 2024 02:01 PM Ma’aden unveils new acquisition deal at SAR 4.1bn valuation

Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) have entered into a share purchase and subscription agreement with Alcoa Corporation, AWA Saudi Limited, and Alcoa Saudi Smelting Inversiones S.L. Ma’aden plans to acquire Alcoa’s share in …

Mergers and Acquisitions

15 September 2024 00:53 PM MIS granted SAR 252m loan from Riyad Bank

Riyadh – Mubasher: Al Moammar Information Systems Company (MIS (obtained SAR 252 million from Riyad Bank on 10 September 2024, according to a bourse disclosure. The Saudi firm will use the Sharia-compliant facility for invoice payables, project …

Banking and Finance

8 September 2024 01:47 PM Bank Albilad to pay SAR 625m dividends for H1-24

Riyadh – Mubasher: Bank Albilad announced interim cash dividends amounting to SAR 625 million, equivalent to 5% of the capital, for the first half (H1) of 2024. The lender will distribute a dividend after Zakat valued at SAR 0.50 per share to 1.25 …

Banking and Finance

3 September 2024 06:05 PM SNB Capital of Saudi listed bank SNB leads SAR 65m funding for Malaa

Riyadh – Mubasher: SNB Capital, the asset manager and investment bank of the listed Saudi National Bank (SNB), has acted as a lead investor in a Series A investment round amounting to SAR 65 million for Malaa Technologies, a Saudi fintech company. …

Companies Investments

25 August 2024 00:40 PM Naba Alsaha secures SAR 250m loan from Riyad Bank

Riyadh – Mubasher: Naba Alsaha Medical Services Company obtained a credit facilities deal valued at SAR 250 million from Riyad Bank on 22 August 2024, according to a bourse disclosure. The Saudi company will use the nine-year loan to finance the …

Banking and Finance

22 August 2024 03:38 PM Bena establishes SAR 25m factory

Riyadh – Mubasher: Bena Steel Industries Company has established a steel Industries factory in Riyadh at a total value of SAR 25 million, according to a bourse disclosure. The company will finance the project self-financing in addition to …

Companies Investments

21 August 2024 00:30 PM Alsaif Gallery launches 7th branch in GCC countries

Riyadh – Mubasher: Al Saif Stores for Development and Investment Company (Alsaif Gallery) has inaugurated its first branch in Qatar, located in the city of Doha. This branch, which is the 73rd for the company, covers an area of 1,392 square …

Global Economy

20 August 2024 09:22 AM Banan Real Estate obtains SAR 50m loan from Riyad Bank

Riyadh – Mubasher: Banan Real Estate Company signed a credit facilities agreement valued at SAR 50 million with Riyad Bank on 19 August 2024. The Saudi company will use the five-year financing to expand business activities, according to a bourse …

Banking and Finance

18 August 2024 10:58 AM EIC’s unit rolls out SAR 281m deal

Riyadh – Mubasher: Saudi Power Transformers Company, a subsidiary of Electrical Industries Company (EIC), inked a SAR 281.13 million contract with the Branch of Hyundai Engineering Company Limited. The two parties signed the agreement on 14 August …

Companies Investments

18 August 2024 09:26 AM Fakhouri leads Cenomi Retail’s growth strategy as CEO

Riyadh – Mubasher: The board of Fawaz Abdulaziz Al Hokair Company (Cenomi Retail) approved the appointment of Salim Fakhouri as the company’s CEO, which became effective on 14 August 2024. Fakhouri served as the Acting CEO of Cenomi Retail since …

Management Decisions

12 August 2024 06:00 PM GFH announces 11% annual increase in H1-24 net profit to owners; total income surpasses $332m

Mubasher: The cross-listed Bahraini firm GFH Financial Group generated net profits to the shareholders worth $60.75 million in the first half (H1) of 2024, which came 11.20% higher than $54.62 million in H1-23. The earnings per share (EPS) rose by …

Financial Results

12 August 2024 11:09 AM Cenomi Retail shifts to net losses in H1-24

Riyadh – Mubasher: Fawaz Abdulaziz Al-Hokair Company (Cenomi Retail) turned to net losses valued at SAR 67.60 million in the first half (H1) of 2024, against profits worth SAR 113.80 million in H1-23. The revenues amounted to SAR 2.59 billion in …

Financial Results