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4 hours ago ACIG receives regulatory nod for capital hike
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) approved for Allied Cooperative Insurance Group (ACIG) to increase its capital through rights issue shares. The company aims to raise the capital by SAR 150 million, according to a …
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5 hours ago National Building secures SAR 100m from Riyad Bank
Riyadh – Mubasher: National Building and Marketing Company has signed a Sharia-compliant credit facility agreement worth SAR 100 million with Riyad Bank. The loan duration is three months starting 20 September 2021, according to a bourse …
The project features recreational, social, and wellness amenities
5 hours ago Deyaar appoints contractors to build AED 750m skyscraper
UAE - Mubasher: Deyaar Development has appointed Gulf Asia Contracting, the construction vertical of RP Group, as a contractor to develop an AED 750 million skyscraper, Regalia, in Business Bay. Set to be completed in 2024, the 70-storey luxury …
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5 hours ago Obeikan Glass to pay SAR 1/shr dividend – SAIC
Riyadh – Mubasher: Saudi Advanced Industries Company (SAIC) said the board of its associate Obeikan Glass Company approved distributing SAR 1 per share as a cash dividend for the year 2021, according to a bourse filing on Monday. SAIC did not …
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04:18 PM Saudi Arabia announces 63 new COVID-19 cases
Riyadh – Mubasher: Saudi Arabia registered 63 more COVID-19 infections on Monday. The Ministry of Health reported 71 new recoveries and six additional fatalities. The new figures brought the total number of cases in the kingdom to 546,612 since …
The construction of the 70-floor tower is set to begin in 2022
04:03 PM Italy's Cavalli collaborates with Damac to launch $545m luxurious tower
UAE - Mubasher: Italian fashion house Cavalli has partnered with DAMAC Properties to develop a $545 million luxurious skyscraper in Dubai, Damac Founder, Hussain Sajwani, announced as cited by Reuters. To be located in Dubai Marina, the …
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03:52 PM TASI falls on Monday; NomuC rises
Riyadh – Mubasher: The Tadawul All Share Index (TASI) of the Saudi Exchange (Tadawul) closed Monday lower by 69.51 points (0.61%) at 11,328.33 points. The trading value amounted to SAR 6.36 billion after exchanging 183.13 million shares, compared …
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03:25 PM GCC asset managers expect more inflows amid growing ESG, Islamic investments – Moody’s
Mubasher: The asset management segment across the Gulf region is expected to witness increased inflows over the coming 12 months in line with the growing demand for Islamic and environmental, social, and governance (ESG)-compliant investments, …
The study is based on a survey conducted to SMB owners and their customers
03:13 PM 88% of SMBs in UAE optimistic about business future - study
UAE - Mubasher: A total of 88% of small and micro businesses (SMBs) in the UAE have expressed their optimism about the future of their business, including 64% who are very optimistic. Around 49% of SMBs in the UAE referred to the importance of …
02:47 PM Pfizer COVID-19 vaccine is safe for 5-11 years old kids
The UAE registered 409 recovered cases
02:09 PM UAE records 313 COVID-19 cases
UAE - Mubasher: The UAE Ministry of Health announced on Monday 313 coronavirus (COVID-19) cases to raise the total number of cases to 733,003. The ministry conducted 277,935 COVID-19 tests to detect further cases. The UAE registered 409 recovered …
01:44 PM Carousell aims to grow business, considers IPO
01:33 PM Shell to produce sustainable jet fuel at scale by 2025
Shell plans to produce low-carbon jet fuel at scale by 2025 to contribute to cutting carbon emissions.
The direct deal was implemented on 147.553 million shares
12:34 PM DFM announces AED 184m direct deal on Damac
Dubai – Mubasher: Dubai Financial Market (DFM) has recorded an AED 184.441 million direct deal executed on the shares of DAMAC Properties. The direct deal was implemented on 147.553 million shares at a price of AED 1.25 per share, according to a …
The Series F equity round was led by DST Global, Falcon Edge
12:07 PM E-commerce platform CARS24 secures AED 1.2bn in funding round
UAE - Mubasher: CARS24, an e-commerce platform for pre-owned vehicles, has closed an AED 1.2 billion round in Series F equity funding, doubling its value to AED 6.75 billion. The Series F equity round was led by DST Global, Falcon Edge, and …
The airline will resume US services to nearly 80% of pre-COVID-19 levels
11:31 AM Emirates to raise US flights from October amid ease of travel restrictions
UAE - Mubasher: Emirates Airline will raise the number of flights to US destinations from October 2021 to meet the growing customer needs following the ease of travel restrictions and the rising travel confidence. The airline will resume US …
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11:29 AM Saudi Arabia continues to be China’s top oil supplier in August
Riyadh – Mubasher: Saudi Arabia has retained its position as China's top crude oil supplier for the ninth month in a row during August, Reuters cited official data by China’s General Administration of Customs on Monday. Saudi oil exports to China …
11:09 AM OVHcloud aims to raise EUR 400m through IPO
The contract has been awarded by the Abu Dhabi City Municipality
10:29 AM IHC's unit awarded contract for AED 46m landscaping project
Abu Dhabi – Mubasher: Emirates Stallions Group (ESG), a subsidiary of International Holdings Company (IHC), has won a three-year contract to landscape the Corniche Road in Abu Dhabi at a total value of AED 46 million. The landscaping contract has …
During the Signing of the Agreement
10:17 AM flydubai signs AED 100m agreement with Saudi Ground Services
Riyadh – Mubasher: flydubai has signed an agreement worth more than AED 100 million with the Tadawul-listed Saudi Ground Services Company, UAE news agency WAM reported. The Saudi Company will be responsible for ground handling services for …
BHM Capital will enhance the liquidity of securities issued by NIH
10:04 AM National International Holding appoints BHM Capital as liquidity provider
Dubai – Mubasher: Kuwait-based National International Holding Company (NIH) has appointed BHM Capital as a liquidity provider for its shares traded on the Dubai Financial Market (DFM). As a liquidity provider, BHM Capital will enhance the …
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09:58 AM Alinma Tokio Marine inks insurance deal with Alinma Bank
Riyadh – Mubasher: Alinma Tokio Marine Company has signed a group credit insurance policy agreement with Alinma Bank to provide insurance coverage for the borrowers’ portfolio of the bank. The contract value is expected to surpass 5% of gross …
The UAE's hotels recorded a 70% increase in the number of local guests
09:46 AM UAE records 62% hotel occupancy rate in H1-21
UAE - Mubasher: The UAE's tourism sector has witnessed a 62% hotel occupancy rate during the first half (H1) of 2021, topping ten other global tourism destinations. Hotel and tourism establishments in the UAE have attracted around 8.3 million …
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19 September 04:49 PM Saudi Arabia reports 70 more COVID-19 cases
Riyadh – Mubasher: The Saudi Ministry of Health announced 70 new COVID-19 infections on Sunday. There were 81 additional recoveries and five more fatalities, according to the daily report. The Kingdom has registered 546,549 total COVID-19 cases …
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19 September 04:38 PM Shaker Group’s board proposes capital cut, raise
Riyadh – Mubasher: The board of Al Hassan Ghazi Ibrahim Shaker Company (Shaker Group) has recommended a 25% capital reduction by cancelling one share for every four owned shares, according to a bourse disclosure on Sunday. Shaker Group will cut …