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2 December 02:43 PM ADQ, TAQA ink agreement to explore energy opportunities in Kazakhstan
Abu Dhabi – Mubasher: ADQ and Abu Dhabi National Energy Company (TAQA) have entered into a long-term strategic agreement with Samruk-Kazyna, a sovereign wealth fund, to explore opportunities in the energy sector in Kazakhstan. Under the …
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2 December 10:53 AM El Obour Real Estate's capital raise subscription coverage exceeds 90%
Cairo - Mubasher: El-Ebour Co. for Real Estate Investment has recorded a 90.46% subscription coverage ratio to the company's capital raise. Around 10.631 million shares were issued at a total value of EGP 54.43 million or a nominal value of EGP 5 …
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2 December 10:22 AM Wafrah submits file to CMA for capital increase to SAR 231.5m
Riyadh – Mubasher: Wafrah for Industry & Development Company has submitted an application file to the Capital Market Authority (CMA) to raise the company’s capital by offering right issues. The company's board has proposed to increase the capital …
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2 December 10:05 AM Saudi Paper appoints financial advisor to offer rights issue for capital raise
Riyadh – Mubasher: Saudi Paper Manufacturing Company has appointed Al Anma Investment Company as the financial advisor to offer right issues to increase the company's capital. The company will submit the file to the Capital Market Authority …
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1 December 06:32 PM Red Sea International signs SAR 246m contract with Baker Hughes
Riyadh – Mubasher: Red Sea International Company has penned a contract worth SAR 245.77 million with Baker Hughes Company to design, manufacture, supply, and manage remote mobile modular buildings. The agreement holds a duration of seven years …
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1 December 05:29 PM Mastercard, Meta - Facebook team up to empower SMEs digitisation in region
Mubasher: Mastercard will be collaborating with Meta, formerly known as Facebook, to endorse the digitisation and growth of small and medium enterprises (SMEs) in the Middle East and Africa (MEA), according to a press release on Wednesday. Both …
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1 December 02:30 PM EY partners with PMI-KSA Chapter to endorse Saudi project management profession
Riyadh – Mubasher: Ernst & Young (EY) signed a memorandum of understanding (MoU) with the Project Management Institute (PMI) chapter in Saudi Arabia (PMI-KSA Chapter) to boost the growth of the project management profession in the Kingdom. The …
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1 December 12:27 PM Australia’s TBH expands to Saudi Arabia
Riyadh – Mubasher: Australian planning and management services provider Tracey Brunstrom and Hammond (TBH) has expanded its operations in the Middle East through its first office in Riyadh in Saudi Arabia. Riyadh office will be TBH’s ninth global …
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1 December 11:22 AM e-finance partners with Egypt’s UHIA to launch digital solutions firm
Cairo – Mubasher: e-finance for Digital and Financial Investments has teamed up with Egypt’s Universal Health Insurance Authority (UHIA) to launch a technology and digital solutions company, dubbed e-Health. e-Health will provide services for the …
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1 December 10:50 AM Food delivery platform Jahez proceeds with IPO, listing on Tadawul’s Nomu
Riyadh – Mubasher: Saudi online food delivery platform Jahez International Company for Information Systems Technology intends to proceed with an initial public offering (IPO) and to list 13% of its capital on the Saudi Exchange’s (Tadawul) …
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30 November 05:49 PM IsDB’s ICIEC signs agreement with Japan's NEXI to boost trade relations
Mubasher: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has partnered with Japan-based Nippon Export and Investment Insurance (NEXI), the Export Credit Agency (ECA) of Japan, through a memorandum of …
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30 November 04:58 PM GFH acquires $200m medical offices in US
Mubasher: GFH Financial Group has purchased a portfolio of medical offices in the US in exchange for around $200 million, as part of the company's plan to build a portfolio of stabilised assets. With 11 assets, the medical portfolio spreads across …
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30 November 04:26 PM Italy's Saipem wins $750m contract for Jafurah field's development
Riyadh - Mubasher: Italy-based Saipem has entered into a new contract worth $750 million with Saudi Arabian Oil Company (Aramco) to contribute to the development of the Jafurah unconventional gas field, Saudi Arabia's largest non-associated gas …
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30 November 03:50 PM Emerald Development records EGP 52m block trading deal
Cairo – Mubasher: The Egyptian Exchange (EGX) has announced an EGP 52.276 million block trading deal on the shares of Emerald Development & Projects Management. The transaction was implemented on 212.5 million of the company's shares, according to …
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30 November 02:22 PM Kuwait’s NAS, Global Jet Technic partner to provide services at UAE airports
Mubasher: Kuwait-based National Aviation Services (NAS) has teamed up with Global Jet Technic to provide comprehensive maintenance services to airlines operating at Dubai and Sharjah airports in the UAE. The Kuwaiti entity will offer its line …
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30 November 02:17 PM Egyptians for Housing and Development sees EGP 125m block deal
Cairo – Mubasher: The Egyptian Exchange (EGX) has announced an EGP 124.695 million trading block deal on the shares of Egyptians for Housing and Development Company. The deal was implemented on 316.486 million of the company's shares, according to …
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30 November 01:10 PM Alhokair teams up with US’ Subway to double restaurants in Kingdom
Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company has partnered with the US fast food brand Subway to nearly double the number of Subway’s restaurants in Saudi Arabia over the coming six years. The new agreement is expected to add a minimum of …
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30 November 11:51 AM Mubadala considers investing in Singapore's Princeton Digital Group
UAE – Mubasher: Mubadala Investment Company (Mubadala) is studying investing in Singapore-based data centre provider Princeton Digital Group (PDG), sources told Bloomberg. The sources added that this potential investment is part …
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30 November 09:46 AM Maharah’s unit signs MoU to acquire 40% of Salis For Trading and Marketing
Riyadh – Mubasher: Growth Avenue Investment Company, a wholly-owned subsidiary of Maharah Human Resources Company, has signed a Memorandum of Understanding (MoU) to acquire a 40% stake in Salis For Trading and Marketing Company. The transaction is …
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30 November 09:33 AM Aramco awards $10bn contracts to develop Jafurah gas field
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has awarded subsurface and engineering, procurement, and construction (EPC) contracts worth $10 billion to develop the Jafurah unconventional gas field, Saudi Arabia's largest non-associated …
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30 November 09:10 AM ADNOC to supply customers in Asia full crude volumes in February
UAE - Mubasher: Abu Dhabi National Oil Company (ADNOC) will provide term customers in Asia full volumes of all crude grades for the third month in a row in February, two sources told Reuters. This announcement was made before OPEC+'s …
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29 November 05:42 PM NCID collaborates with PepsiCo to endorse Saudi food sector workforce
Riyadh – Mubasher: Saudi Arabia’s National Center for Industrial Development (NCID) has teamed up with PepsiCo, signing a memorandum of understanding (MoU) to empower the food sector workforce in the Kingdom. The partnership aims to develop skills …
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29 November 04:46 PM UAE's Edfundo opens $1.5m funding round
UAE - Mubasher: Edfundo, a teacher-curated smart money management app due to be launched in the UAE in 2022, seeks to secure $1.5 million in a seed funding round, expected to be closed in the first quarter (Q1) of 2022. This funding round was …
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29 November 03:46 PM Al Futtaim Trading introduces first Volvo electric car in region
Mubasher:  Al Futtaim’s Trading Enterprises, the distributor of Volvo Cars in the UAE, has launched its first fully electric car in the region, the XC40 BEV. Equipped with sustainable materials to cut its environmental impact, the electric car is …
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29 November 02:21 PM SEC’s subsidiary to be wholly owned by Saudi government
Riyadh – Mubasher: The ownership of the Saudi Power Procurement Company, a subsidiary of the Saudi Electricity Company (SEC), will be transferred to the Saudi government upon a Cabinet’s resolution. Accordingly, SEC’s entire equity in the Saudi …