Gulf news

Cairo – Mubasher: Saudi Arabia-based mobility solutions platform Morni is planning to invest $10 million to target new acquisitions in Egypt in the mobility space through Exists.me, an acquisition and mergers (M&A) advisory firm.  The new buy-side …

Riyadh – Mubasher: The World Fintech Show has witnessed the launch of new ventures Holoul and Leza'am by Fintactics, which also signed partnership agreements with Aion Digital and Bitfy Holdings. The event, which kicked off on 5 December in …

Mubasher: Switzerland-based Seedstars has launched its investment arm Seedstars Capital for emerging venture capital (VC) fund managers across the Middle East and other emerging markets with the support of xMultiplied, a Swiss-based investment …

Riyadh - Mubasher: Saudi Tourism Development Fund (TDF) has inked a financing agreement with Nama Alamal to develop a five-star hotel managed by IHG Group. To be established under the Intercontinental brand, the scheme includes 163 hotel units …

Riyadh – Mubasher: The benchmark All Share Index (TASI) of the Saudi Exchange (Tadawul) gained 25.12 points (0.24%) on Tuesday and ended the trading session on a positive note at 10,444.27 points. TASI's turnover reached SAR 4.96 billion through …

Cairo – Mubasher: Egypt-based B2B marketplace connecting restaurants to suppliers, OneOrder, announced closing a $3 million seed round led by Nclude as well as returning investor A15. This brings the company’s total investment to $10.50 million. …

UAE – Mubasher: The main index of Dubai Financial Market (DFM) went down by 11.79 points (0.35%) and ended Tuesday’s trading session at 3,339.89 points. A total of 303.26 million shares were exchanged at a value of AED 480.05 million. Union …

Riyadh – Mubasher: Saudi Arabia’s headline seasonally adjusted Purchasing Managers’ Index (PMI) increased for the second month in a row during November 2022 to 58.5 from 57.2 last October, according to Riyad Bank’s data. The PMI, which was above …

Abu Dhabi – Mubasher: AD Ports Group announced the merger of KEZAD Communities with Al Eskan Al Jamae LLC (EAJ) to develop Abu Dhabi’s largest integrated staff accommodation company which will have an equity value of nearly AED 7 billion. AD Ports …

Riyadh – Mubasher: Saudi Arabia cut the January 2023 official selling price (OSP) for its flagship Arab Light crude for Asian buyers to a 10-month low, on concerns over a drop in demand and a potential increase in Russian competition. The Saudi …

Riyadh – Mubasher: The Capital Market Authority (CMA) passed the requests of Omran Najd Industries Company, Ghida Alsultan for Fast Food Company, and Meyar Company to trade on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul). Each one of …

Riyadh – Mubasher: Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank, stated that transactions worth more than $2.70 billion are being traded on a daily basis through mobile applications. Abu Sulaiman highlighted that …

Riyadh – Mubasher: Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Al Khorayef, announced launching an initiative to encourage the local industry with the aim of stimulating investment in the industrial sector and increasing …

Riyadh – Mubasher: Riyadh Chamber of Commerce has been part of setting up more than 40 startups in the financial technology (fintech) sector since 2016 until the present time, said Mansour Al Obaid, who serves as the Chairman of Information and …

Riyadh – Mubasher: The benchmark All Share Index (TASI) of the Saudi Exchange (Tadawul) fell by 304.80 points (2.84%) on Monday and closed the trading session at 10,419.15 points. A total of 116.63 million shares were exchanged at a value of SAR …

Riyadh – Mubasher: The World Fintech Show has launched today, 5 December, in Saudi Arabia’s capital Riyadh at InterContinental Riyadh.   The event aims to connect the world’s fintech innovators with enterprises, investors, policymakers, startups, …

UAE – Mubasher: The main index of Dubai Financial Market (DFM) ended Monday’s trading session in the green zone at 3,351.68 points after gaining 27.72 points (0.83%). The trading value amounted to AED 628.89 million through the exchange of 355.50 …

Riyadh – Mubasher: The board of Saudi Industrial Investment Group (SIIG) decided to pay out cash dividends worth SAR 566.10 million, representing 7.50% of the capital, for the second half (H2) of 2022. The firm will distribute SAR 0.75 per share …

Riyadh – Mubasher: Al Saif Stores for Development and Investment Company (Alsaif Gallery) set the final price for its initial public offering (IPO) at SAR 115 per share to trade on the Main Market of the Saudi Exchange (Tadawul). Saudi Fransi …

Riyadh – Mubasher: The Future Minerals Forum (FMF) unveiled new partnerships with think tank entities and research institutions as part of its preparations to host the second edition of the forum next year in Riyadh. The collaboration will be with …

Riyadh – Mubasher: Arabian Internet and Telecommunication Services Company (solutions) and Saudi Telecom Company (stc) inked contracts at a combined value of SAR 372.92 million on 1 December 2022. Under the 36-month agreements, solutions will …

UAE - Mubasher: The Dubai Chamber of Commerce set up two new business groups; the Bottled Water Business Group and the Circular Packaging Association, according to a press release. This step aligns with the chamber’s objectives to raise the number …

Dubai – Mubasher: Moro Hub, a subsidiary of Digital DEWA which serves as the digital arm of Dubai Electricity and Water Authority (DEWA), inked a definitive agreement with situational awareness, infrastructure management, and operations security …