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8 September 02:40 PM Bank of Sharjah prices $500m senior unsecured bond
Abu Dhabi – Mubasher: Bank of Sharjah has successfully priced a $500 million senior unsecured bond in the international markets, according to a press release. The issuance received significant response from international investors, attracting …
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8 September 10:47 AM NMDC Energy’s IPO attracts gross demand of AED 88bn
Abu Dhabi – Mubasher: National Marine Dredging Company (NMDC) has closed the initial public offering (IPO) of NMDC Energy, which was oversubscribed by 31.3 excluding cornerstone. The offering attracted investor interest, generating a total gross …
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8 September 09:53 AM Invest Bank logs AED 99m net profits in H1-24
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 …
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8 September 08:41 AM Reachware fuels GCC expansion plans via $3m funding co-led by Elm
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 …
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5 September 02:35 PM ACWA Power, SEWA join forces to develop Sharjah’s 1st IWP plant
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 …
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5 September 01:16 PM Emirates Steel Arkan rebrands as EMSTEEL
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 …
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5 September 09:25 AM Al Seer Marine unveils new brand identity
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 …
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4 September 03:28 PM Hakbah, Tawuniya forge new partnership at 24 Fintech
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 …
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4 September 10:33 AM Borouge’s shareholders greenlight $650m interim cash dividend for H1-24
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 …
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4 September 09:40 AM UAE-based Gulf Capital exits Egypt’s Middle East Glass
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 …
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3 September 03:54 PM stc’s subsidiary STC Bank partakes in global meeting point 24 Fintech as Founding Partner
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 …
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2 September 05:32 PM Checkout.com to enter into strategic partnership with Tawuniya at 24 Fintech
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 …
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29 August 03:03 PM Salik launches 2 new gates valued at AED 2.7bn
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 …
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29 August 02:02 PM Invictus reinforces investments in Africa via new acquisition
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 …
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29 August 01:31 PM NMDC Energy obtains regulatory nod for IPO on ADX
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 …
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29 August 10:24 AM Orascom Construction sees 47% lower consolidated profits in H1-24; backlog hits $7.7bn
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% …
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28 August 01:29 PM Abu Dhabi Ports, Emirates Classification Society inaugurate 2 offices in Kuwait
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 …
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26 August 03:32 PM Three listed lenders participate in SEC’s $4bn funding
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 …
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25 August 11:43 AM NMDC, ADNCO announce 1st clean energy project in MEA
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 …
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22 August 01:59 PM TAQA, JERA to commence establishing expansion industrial steam plant in Saudi Arabia
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 …
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22 August 12:32 PM Invest Bank, Network International team up to reinforce digital payments offering
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 …
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22 August 11:00 AM Liva Group to expand in Saudi market via merger with Malath Insurance
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 …
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22 August 10:08 AM Tecom Group’s acquisition deals, investments exceed AED 2bn
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 …
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22 August 08:59 AM Phoenix Group, Tether to create UAE Dirham-pegged stablecoin
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 …
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21 August 01:04 PM FABMISR logs EGP 15.8bn net profits in H1-24
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 …