Stocks News

Abu Dhabi – Mubasher: Invest Bank posted an annual rise in net profit to AED 98.71 million during the first half (H1) of 2024, compared to AED 4.03 million. Net interest income hiked year-on-year (YoY) to AED 92.76 million in H1-24 from AED 45.97 …

Riyadh – Mubasher: Saudi SaaS provider Reachware has raised $3 million in Seed funding, led by Sadu Capital, with participation from 500 Sanabil Investments and Elm Company, according to a press release. Reachware, a leading startup specialising …

Riyadh – Mubasher: ACWA Power Company signed an agreement with Sharjah Electricity, Water and Gas Authority (SEWA) to develop Sharjah’s first Independent Water Project (IWP). The Hamriyah IWP, which will be developed using seawater reverse osmosis …

Abu Dhabi – Mubasher: Emirates Steel Arkan has rebranded as EMSTEEL as part of a broader strategy to accelerate its operational transformation and extend its global presence, according to a press release. The new brand identity embodies the merger …

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company announced a new brand identity in line with its vision to anchor its position in the maritime industry, according to a press release. The company’s vision, which focuses on …

Riyadh – Mubasher: Saudi fintech savings platform Hakbah entered into a new partnership with The Company for Cooperative Insurance (Tawuniya) at the 24 Fintech Conference that kicked off in Riyadh on 3 September. This alliance will reshape the …

Abu Dhabi – Mubasher: The shareholders of Borouge approved an interim cash dividend of $650 million for the first half (H1) of 2024, according to a press release. The company will disburse 7.94 fils per share, representing an annualised dividend …

Mubasher: Abu Dhabi-based Gulf Capital has sold its stake in Egypt-listed Middle East Glass (MEG) to the majority shareholder of the business, MENA Glass Holdings Limited, according to a press release. Gulf Capital’s investment enabled Middle East …

Riyadh – Mubasher: STC Bank, formally known as stc pay and one of the leading digital innovators in the listed Saudi Telecom Company (stc) portfolio, is joining the 24 Fintech three-day event in Saudi Arabia as a Founding Partner. Being the newest …

Riyadh – Mubasher: Global payments solution provider Checkout.com unveiled it will be signing strategic partnership agreements with The Company for Cooperative Insurance (Tawuniya) during the 24 Fintech 2024 event which will launch in Saudi Arabia …

Dubai – Mubasher: Salik Company announced the combined valuation of the two new toll gates at Business Bay and Al Safa South at a total of AED 2.73 billion. The Business Bay Gate was valued at AED 2.26 billion and the Al Safa South Gate amounted …

Abu Dhabi - Mubasher: Invictus Investment Company inked an agreement to acquire a leading flour milling company in Southern Africa, according to a press release. The transaction is still subject to necessary regulatory approvals and closing …

Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) has received approval from the Securities and Commodities Authority (SCA) and the Abu Dhabi Securities Exchange (ADX) to proceed with an Initial Public Offering (IPO) of a portion of …

Cairo – Mubasher: Orascom Construction posted consolidated net profits after tax valued at $70.70 million in the first half (H1) of 2024, an annual drop of 46.80% from $132.90 million. Revenues reached $1.47 billion in H1-24, down 5.50% …

UAE – Mubasher: The Abu Dhabi Ports and the Emirates Classification Society launched two offices in Kuwait to enhance maritime transportation cooperation, according to a press release. UAE’s Ambassador to Kuwait, Matar Al Neyadi, highlighted that …

Riyadh – Mubasher: Saudi Electricity Company (SEC) obtained $4 billion (SAR 15 billion) in international syndicated revolving credit facilities on 25 August 2024, according to a bourse filing. A number of regional and international lenders …

Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) secured a contract worth more than $200 million from the Abu Dhabi National Oil Company (ADNOC), according to a press release. The deal covers the crucial marine dredging works in the …

Abu Dhabi – Mubasher Abu Dhabi National Energy Company (TAQA) and Japan-based JERA Company announced the financial closing of Najim Cogeneration Company Limited, according to a press release. The joint venture (JV) is a new industrial steam and …

Abu Dhabi – Mubasher: Network International joined forces with Invest Bank to boost Network’s digital payment services to the bank’s corporate customers, according to a press release. The collaboration will enable Invest Bank to expand the …

Riyadh – Mubasher: Liva Group announced a potential merger between Liva Insurance Company (Liva KSA) and Malath Cooperative Insurance Company (Malath Insurance) The GCC's leading multi-line insurer highlighted that the transaction aligns with its …

Dubai – Mubasher: Tecom Group completed the acquisition of new commercial and industrial assets as part of an AED 1.70 billion strategic plan that was announced in May 2024, according to a press release. This aligns with the group’s announcement …

Abu Dhabi – Mubasher: Phoenix Group has collaborated with Tether, the largest company in the digital asset industry, to launch a stablecoin pegged to the UAE Dirham, according to a press release. Backed by Green Acorn Investments Limited, this …

Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), the business unit of UAE-based FAB operating in Egypt, unveiled its financial results for the first half (H1) 2024, logging net profits of EGP 15.80 billion. The lender highlighted robust …