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3 March 04:48 PM Al Akaria’s profits shrink 39% in 2023; accumulated losses unveiled
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) logged net profits standing at SAR 67.60 million in 2023, an annual drop of 38.82% from SAR 110.50 million, according to the income results. Al Akaria posted revenues amounting to SAR 1.81 …
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3 March 04:38 PM Tadawul shows varied performance on Sunday
Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) fell on Sunday by 75.66 points (0.60%), closing at 12,555.20 points. The trading value hit SAR 8.19 billion through the exchange of 346.81 million shares. …
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3 March 03:55 PM Bank of Sharjah leads $750m bond issuance
Abu Dhabi – Mubasher: Bank of Sharjah acted as a joint lead manager and book-runner in the issuance of a $750 million bond for the Government of Sharjah. The listed lender issued the 12-year U.S. dollar-denominated 144A/Reg S senior unsecured …
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3 March 03:24 PM Borouge opens new offices in Kenya, South Korea to widen global footprint
Abu Dhabi – Mubasher: Borouge has established new offices in Kenya and South Korea in line with its strategic plans to expand its market share in high-growth geographies, according to a press release. Besides its sales and marketing office in …
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3 March 02:42 PM ADNOC acquires 25% equity ownership in global energy group OMV
Abu Dhabi – Mubasher: Abu Dhabi National Oil Company (ADNOC) has officially closed the acquisition of a 24.90% shareholding in Austria-based OMV AG OMV AG from Mubadala Investment Company. The transaction aligns with ADNOC’s global chemicals …
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3 March 02:00 PM NCLE unveils 2 key appointments
Riyadh - Mubasher: The National Company for Learning and Education (NCLE) appointed Khaled bin Mohammed Al Khudair as the Chairman of the board for three years. NCLE also named Ibrahim bin Abdelrahman Al Derei as the Vice Chairman, according to a …
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3 March 01:23 PM Saudi Aramco completes acquisition of Chile’s Esmax
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco)has fully acquired Esmax Distribución SpA, a leading diversified downstream fuels and lubricants retailer in Chile. The transaction, which was first announced in September 2023, marks Aramco’s …
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3 March 12:44 PM ADIB to pay AED 2.5bn cash dividends for 2023
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) obtained the approval of its general assembly to disburse cash dividends of AED 2.59 billion for 2023, according to a press release. ADIB will pay out a dividend of 71 fils per share, marking an …
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3 March 12:06 PM Zain KSA’s profits leap 130.5% in 2023; dividends proposed
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) posted an annual hike of 130.36% in net profit to SAR 1.26 billion as of 31 December 2023, compared to SAR 550 million. Earnings per share (EPS) enlarged to SAR 1.41 last …
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3 March 11:34 AM Cenomi Centers completes $500m sukuk issuance
Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) has concluded the issuance of international USD-denominated Shari’ah-compliant Sukuk worth $500 million. A total of 2,500 sukuk were sold at a price of $200,000 per each, according to a …
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3 March 11:21 AM Agthia raises stake in Egypt-based Auf Group to 70%
Abu Dhabi – Mubasher: Agthia Group has completed the acquisition of an additional 10% shareholding in Egypt-based healthy snacks and coffee manufacturer and retailer Auf Group. Through this transaction, the ADX-listed group increased its equity …
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3 March 11:12 AM Gas Arabian Services inks SAR 598m contracts with Saudi Power Procurement
Riyadh – Mubasher: Gas Arabian Services Company signed two contracts with Saudi Power Procurement Company at a total value of around SAR 598.01 million. The first contract includes providing engineering, procurement, and construction (EPC) works …
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3 March 10:22 AM e& bolsters connectivity in 16 countries via $6bn investments
Abu Dhabi – Mubasher: e& announced plans to invest $6 billion between 2024-2026 in technological advancement, infrastructure development, and innovative digital solutions to boost connectivity. The listed group made this commitment to the …
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3 March 09:42 AM Bawan’s profits exceed SAR 136m in 2023; dividends for H2-23 proposed
Riyadh – Mubasher: Bawan Company recorded an annual drop of 16.46% in net profit to SAR 136.04 million during January-December 2023, compared to SAR 162.85 million. The revenues inched down by 0.37% year-on-year (YoY) to SAR 3.35 billion in 2023 …
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29 February 06:08 PM FAB’s unit in Egypt records 131% leap in 2023 profits
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), a business of the UAE listed FAB operating in Egypt, achieved a 131% year-on-year (YoY) jump in net profit to EGP 10.40 billion in 2023, according to the financial statements. The net loans …
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29 February 05:36 PM Umm Al Qura Cement’s net profit plummets 83% YoY in 2023; dividends paused
Riyadh – Mubasher: Umm Al Qura Cement Company’s net profit dropped 82.81% year-on-year (YoY) to SAR 3.95 million in 2023 from SAR 22.98 million. Revenues plunged 23.63% YoY to SAR 168.94 million last year from SAR 221.21 million in 2022, according …
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29 February 05:12 PM Eastern Province Cement inks $270.5m contract with China’s Sinoma CDI
Riyadh – Mubasher: Eastern Province Cement Company signed the Fifth Line project contract with leading Chinese cement company Sinoma CDI, valued at $270.52 million. The project will have a production capacity of 10,000 tonnes of clinker per day, …
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29 February 04:38 PM Saudi Sumou, Egypt’s Hassan Allam pen development agreement
Mubasher: Saudi Sumou Holding and Hassan Allam inked a development agreement for key investment opportunities in the real estate sector, according to a press release. ADEER International Egypt, a subsidiary of ADEER Holding and Sumou Holding, …
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29 February 03:59 PM Tadawul ends Thursday’s trading session higher
Riyadh – Mubasher: The main market’s All-Share Index (TASI) of the Saudi Exchange (Tadawul) rose by 0.15% and closed Thursday's trading session at 12,630.86 points. TASI’s turnover reached SAR 12.93 billion through the exchange of 549.48 million …
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29 February 03:30 PM Riyadh Air partners with Adobe to enhance AI-backed travel experience
Riyadh – Mubasher: Riyadh Airhas joined forces with Adobe to deliver advanced global travel experiences, backed by generative AI, according to a press release. The new airline will integrate with a wide range of travel partners globally, allowing …
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29 February 02:29 PM DFM, ADX close Thursday with varied note
UAE – Mubasher: The main index of Dubai Financial Market (DFM) gained 18.39 points (0.42%) on Thursday and ended the trading session at 4,308.77 points. The turnover amounted to AED 553.36 million through the exchange of 219.96 million shares. …
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29 February 01:33 PM UAE’s COTU Ventures launches $54m fund to back early-stage startups
UAE – Mubasher: Dubai-based early-stage venture capital (VC) firm COTU Ventures has launched a $54 million inaugural fund to support startups in the Middle East. The fund plans to back startups from inception to post-production launch with …
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29 February 12:22 PM Abu Dhabi National Hotels unveils dividends, bonus shares for 2023
Abu Dhabi – Mubasher: The shareholders of Abu Dhabi National Hotels approved the board’s proposal to pay AED 240 million as cash dividends for 2023. The company will disburse 20% cash dividends, equivalent to AED 0.02 per share, according to a …
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29 February 11:51 AM Al Rajhi Takaful’s net profit soars 353% YoY in 2023
Riyadh – Mubasher: The net profit after zakat attributable to shareholders of Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) surged 353.18% year-on-year (YoY) to SAR 328.06 million in 2023 from SAR 72.39 million. The insurance …
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29 February 11:48 AM ACWA Power announces 2023 financials, dividends; capital raise, SAR 3.4bn project unveiled
Riyadh – Mubasher: ACWA Power Company posted an annual growth of 7.90% in net profit to SAR 1.66 billion as of 31 December 2023, compared to SAR 1.54 billion. Revenues jumped by 15.52% to SAR 6.09 billion in 2023 from SAR 5.27 billion a year …