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Tabuk will hold the marketing authorisation for the COVID-19 vaccine
13 June 01:11 PM Astra Industrial’s unit partners with Moderna to commercialise vaccine
Riyadh – Mubasher: Astra Industrial Group said its subsidiary Tabuk Pharmaceutical Manufacturing Company has signed a contract with Moderna to commercialise the latter’s COVID-19 vaccine and future variant-specific booster candidates in Saudi …
PIF’s investment comes in advance of the ASIIP’s anticipated first closing
10 June 01:47 PM Saudi PIF invests in Investcorp-Aberdeen regional infrastructure fund
Mubasher: Saudi Arabia’s Public Investment Fund (PIF) has committed up to 20% of the total size of ASIIP infrastructure fund, the joint venture between Bahrain-based Investcorp and Aberdeen Standard Investments. PIF’s investment comes in advance …
The school is inspected by the British Government
8 June 01:58 PM GFH's education platform acquires British school in Tunisia
Mubasher: Britus Education, the wholly-owned education investment platform of GFH Financial Group, has acquired The British International School of Tunis (BIST) to expand the company's presence in Tunisia. Under the transaction, Britus Education …
The sale is expected to have a positive impact on Shuaa's Q2 financials
7 June 09:38 AM Shuaa Capital, Goldilocks Fund sell stake in Khaleeji Commercial Bank
Dubai – Mubasher: Shuaa Capital has sold its 3.8% stake in Khaleeji Commercial Bank (KHCB), totaling 34.648 million shares, to GFH Financial Group. The sale, expected to have a positive impact on Shuaa's second quarter (Q2) financials, is part of …
The UAE has followed the Kingdom with 20 companies
6 June 10:05 AM Saudi Arabia, UAE lead Forbes Middle East's top 100 listed companies for 2021
Mubasher: Saudi Arabia and the UAE have dominated Forbes Middle East's annual ranking of the top 100 listed companies for 2021, with 37 and 20 companies, respectively. Saudi Arabia has had the most companies on the list, topped by Saudi Arabian …
Seera will be the exclusive partner of Klook in the Kingdom
17 May 03:57 PM Seera, Klook to boost digital transformation of tourism sector
Riyadh – Mubasher: Seera Group has entered into a strategic partnership with travel and leisure booking platform Klook to enhance the digital transformation and growth of Saudi Arabia’s tourism sector, according to a press release on Monday. Seera …
The company's total income decreased to $111.949 million
17 May 09:34 AM Ithmaar Holding turns to profitability in Q1-21
Mubasher: Bahrain-based Ithmaar Holding reported net profits attributable to the equity holders of $8.861 million during the first quarter (Q1) of 2021, against net losses of $22.584 million in the year-ago period, according to the company's …
The bank's total assets rose by 3.6%
16 May 04:31 PM Al Salam Bank – Bahrain sees 144% higher profits in Q1-21
Mubasher: The net profits attributable to the shareholders of Al Salam Bank – Bahrain jumped by 144% to BHD 6.087 million ($16.15 million) during the first quarter (Q1) of 2021 from BHD 2.512 million ($6.7 million) in the year-ago period, …
Roebuck acquired the property in May 2017
25 April 10:14 AM GFH's unit sells UK-based logistics centre for $123m
Mubasher: The UK-based Roebuck Asset Management, the subsidiary of GFH Financial Group, has completed an off-market sale of Accolade Park, a prime logistics centre in the UK, to Tritax Big Box REIT in exchange for $123 million.  Spanning over an …
The termination of the agreements will be effective from 23 May
22 April 11:26 AM GFH terminates market making, liquidity provider agreement with SICO
Mubasher: GFH Financial Group has announced the termination of the market making and Liquidity Provision agreements with SICO for GFH’s shares on Bahrain Bourse and Dubai Financial Market (DFM). The termination of the agreements will be effective …
The shareholders also agreed on paying bonus shares
6 April 03:58 PM GFH's OGM approves $42m cash dividend, bonus share distribution
Mubasher: The ordinary general meeting (OGM) of GFH Financial Group has approved a cash dividend and bonus share distribution of $42 million. The cash dividend payout for all ordinary shares stands at 1.86% of the share nominal value or $0.0049, …
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24 March 04:30 PM GFH inks agreement with Bahrain Bourse, CBB to join Murabaha service
Mubasher: GFH Financial Group has entered into an agreement with Bahrain Bourse (BHB) and the Central Bank of Bahrain (CBB) to provide its clients with the Murabaha service. Launched by BHB in May 2020, the Murabaha service will be offered through …
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24 March 01:08 PM CITC approves merging Zain KSA, Mobily telecom towers under new entity
Riyadh - Mubasher: Mobile Telecommunications Company Saudi Arabia (Zain KSA) has received in-principle approval from the board of Communications and Information Technology Commission (CITC) on the application submitted by Zain KSA, Etihad Etisalat …
The cash dividend payout stands at one share for every 20 shares
18 March 11:29 AM Al Salam Bank's OGM nods to 5% dividends for 2020
Mubasher: The shareholders of Al Salam Bank – Bahrain have agreed to distribute cash dividends, equivalent to 5% of the paid-up share capital, for 2020. The cash dividend payout stands at one share for every 20 shares, aggregating at a total …
Almarai will finance the acquisition from its operating cash flow
16 March 11:34 AM Almarai acquires Bakemart in UAE, Bahrain for AED 93.5m
Riyadh - Mubasher: Almarai Company has signed a sale and purchase agreement to acquire all shares in Bakemart UAE and Bakemart Bahrain for an enterprise value of AED 93.5 million ($25.5 million) Bakemart's businesses focus on the manufacturing and …
Individuals can start with a monthly investment of EGP 500 through Du Invest
9 March 03:57 PM Mubasher's Du seeks to turn novice investors into professional traders
Cairo – Mubasher: Mubasher Financial Services, one of the five largest non-banking financial institutions in Egypt, has invested about EGP 360 million in launching its new Du brand for financial services, the first of its kind in Egypt that caters …
The repayment period of the outstanding loans will be extended by an additional six years.
28 February 11:25 AM Chemanol restructures SAR 475m loans with local banks
Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) penned an agreement to restructure outstanding loans worth SAR 475 million with a consortium of local banks. The banks are the Gulf International Bank (GIB), the Saudi British Bank (SABB), …
Lower net income was attributed to the group's higher precautionary provisions
25 February 04:40 PM Al Baraka Banking Group achieves 8% lower net income in 2020
Mubasher: The total net income of the Bahrain-based Al Baraka Banking Group (ABG) declined by 8% to $166 million in 2020, compared to $180 million in 2019. Lower net income was attributed to the group's higher precautionary provisions allocated to …
The facility has been leased to Michelin North America
23 February 02:42 PM GFH acquires mission-critical distribution facility in Chicago for $135m
UAE - Mubasher: GFH Financial Group has acquired a mission-critical distribution facility in Chicago in Illinois in exchange for $135 million, according to a press release on Tuesday. Since November 2015, the facility has been leased to Michelin …
The new investment will accelerate Ageras’ expansion into existing growth markets.
23 February 10:02 AM Investcorp’s portfolio company Ageras raises $73 million in new capital
Mubasher: Leading European technology investor, Investcorp Technology Partners, said its portfolio company, Ageras Group, has raised $73 million from Lugard Road Capital, the US-based alternative asset manager. The new investment will accelerate …
Investcorp will continue KSMC's expansion across the US
22 February 10:37 AM Investcorp acquires majority of US-based KSM Consulting
Mubasher: One of the affiliates of Investcorp has acquired the majority of KSM Consulting, a US data analytics, technology, and digital transformation firm, from Renovus Capital Partners. Under the terms of the transaction which have not been …
The basic and diluted losses per share stood at 1.43 cents last year
21 February 09:59 AM Ithmaar Holding sees $42m net losses in 2020
Mubasher: The consolidated financial results of the Bahrain-based Ithmaar Holding has registered $41.719 million in net losses attributable to the equity holders in 2020, versus $669,000 net profits in 2019. The net losses are attributed to the …
The board agreed to extinguish treasury shares of 94.339m shares
16 February 11:26 AM GFH's board terminates market making/liquidity providing agreement
Mubasher: The board of GFH Financial Group has decided to terminate the market making/liquidity providing agreement, according to the company's disclosure to the Dubai Financial Market (DFM). The board also agreed to extinguish treasury shares …
The basic and diluted EPS stood at 1.35 cents in 2020
16 February 10:30 AM GFH records 32% lower profits in 2020
Mubasher: The net profits attributable to the shareholders of GFH Financial Group slid by 31.7% to $45.1 million in 2020, compared to $66.033 million in 2019. Lower net profits are driven by lower contribution from business lines due to the …
The rating captures STC’s commitment to adopt the best responsible and sustainable business practices.
14 February 03:17 PM STC ranked first in GCC on Dow Jones Sustainability Index
Riyadh – Mubasher: Saudi Telecom Company (stc) headed all telecom companies in the GCC region in terms of sustainability as per the Dow Jones Sustainability Index (DJSI). The company also ranked the second amongst all companies operating in Saudi …