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28 October 10:52 PM

Gulf news

The bank’s net operating income increased to AED 476.769 million
04:28 PM Ajman Bank’s profits grow to AED 90m in 9M
Dubai – Mubasher: The net profits of Ajman Bank jumped to AED 90.13 million during the first nine months of 2021 from AED 55.858 million in the year-ago period, as shown by the bank’s interim financials for the nine-month period ended 30 September …
Banking and Finance
The final paid consideration amounted to AED 1.863 billion
04:25 PM Etisalat completes acquisition of additional stake in EINA
Abu Dhabi – Mubasher: Emirates Telecommunications Group (Etisalat) has completed the acquisition of Abu Dhabi Fund for Development’s 8.7% stake in Etisalat Investment North Africa (EINA).  This acquisition has enabled Etisalat to raise its …
Mergers and Acquisitions
Launching a new office in Dubai will enable Viasat to promote its relationship with MBRSC
04:21 PM Nasdaq-listed Viasat to open new office in Dubai’s Silicon Oasis
UAE – Mubasher: Nasdaq-listed Viasat, a global communications company, will open a new office in Dubai's Silicon Oasis district to expand its services in the Middle East.  Launching a new office in Dubai will enable Viasat to promote its …
The deal is part of Dallah’s plan to buy over 25% of International Medical Center
04:17 PM Dallah Healthcare acquires 8% stake in International Medical Center
Riyadh – Mubasher: Dallah Healthcare Company has inked an agreement to acquire 8.2% of International Medical Center in Jeddah in exchange for SAR 289 million.  The agreement is part of Dallah’s plan to buy over 25% of International Medical Center …
Companies Investments
The integrated urban project is scheduled to be delivered by 2025
03:43 PM TIJ Contracting to start construction on EGP 12bn project in Mostakbal City
Cairo – Mubasher: TIJ Contracting will start construction works on the Montenapoleone project, owned by Reportage Properties, in April with total investments of EGP 12 billion. Montenapoleone will be established over 111 acres in Mostakbal City in …
Real estate
YahClick’s HTS Ka-band capacity will offer high-speed broadband solutions
02:14 PM Yahsat’s unit enters Pan-African partnership with iSat Africa
Abu Dhabi - Mubasher: YahClick, the data subsidiary of Al Yah Satellite Communications Company (Yahsat), has entered into a partnership with iSat Africa to extend its satellite broadband services in Nigeria, Zambia, Congo, and East Africa.   iSAT …
GF has sold its shares at $47 per share in the IPO
02:11 PM Mubadala’s GlobalFoundries raises $2.6bn in IPO
UAE – Mubasher: GlobalFoundries (GF), a chipmaker owned by Abu Dhabi's Mubadala Investment Company, has secured around $2.6 billion in its initial public offering (IPO) on Nasdaq, Reuters reported.  GF has sold its shares at $47 per share in the …
Initial Public Offerings
The company generated revenues of SAR 123.65 billion
02:06 PM SABIC turns to profitability in 9M
Riyadh – Mubasher: The net profits after zakat and tax of Saudi Basic Industries Corporation (SABIC) achieved net profits of SAR 18.1 billion during the first nine months of 2021, against net losses of SAR 2.18 billion in the year-ago period.  The …
Financial Results
The bank’s net interest income decreased by 6% to AED 8.62 billion
02:02 PM FAB’s net profits rise 26% in 9M
Abu Dhabi - Mubasher: The net profits attributable to the shareholders of First Abu Dhabi Bank (FAB) jumped by 26% to AED 9.21 billion during the first nine months of 2021, compared to AED 7.325 billion in the year-ago period, as shown by the …
Banking and Finance
The company generated revenues of AED 183.1 million
01:59 PM DFM reports lower profits in 9M
Dubai – Mubasher: The interim consolidated financials of the Dubai Financial Market Company (DFM) reported AED 38.14 million net profits in the first nine months of 2021, down from AED 120.07 million in the same period of 2020.  The company …
Financial Results
solutions will operate, support, maintain, and monitor the IT network of stc
01:51 PM solutions pens SAR 140m managed services deal with stc
Riyadh – Mubasher: Arabian Internet and Communications Services Company (solutions by stc) signed a managed services contract worth SAR 139.97 million with Saudi Telecom Company (stc). Under the deal, solutions by stc will operate, support, …
Companies Investments
The revenues surged to SAR 2.51 billion in the period ended 30 September
01:29 PM Tasnee logs over SAR 1bn profit in nine months
Riyadh – Mubasher: The National Industrialization Company (Tasnee) achieved net profits after Zakat and tax of SAR 1.017 billion in the first nine months of 2021, versus net losses of SAR 274.3 million in the year-ago period.  Earnings per share …
Financial Results
Earnings per share amounted to SAR 1.35
01:12 PM SABB turns to profitability in nine months
Riyadh – Mubasher: Saudi British Bank (SABB) turned to net profits of SAR 2.775 billion in the first nine months of 2021, versus net losses of SAR 4.847 billion in the year-ago period.  Earnings per share amounted to SAR 1.35 in the period ended …
Banking and Finance
Photo Archive
27 October 06:07 PM SASCO’s Q3 profits shrink 35%
Riyadh – Mubasher: Saudi Automotive Services Company (SASCO) posted a decrease of 34.6% year-on-year (YoY) in net profits after Zakat and tax to SAR 11.4 million during the third quarter (Q3) of 2021 from SAR 17.45 million. Revenues soared by …
Financial Results
Earnings per share recorded SAR 2.25
27 October 06:03 PM SIIG logs over SAR 1bn profit in nine months
Riyadh – Mubasher: Saudi Industrial Investment Group (SIIG) turned to net profits of SAR 1.015 billion in the first nine months of 2021, versus net losses of SAR 143 million in the prior-year period.  Earnings per share recorded SAR 2.25 in the …
Financial Results
Photo Archive
27 October 05:49 PM Bawan achieves 38% growth in Q3 profits
Riyadh – Mubasher: Bawan Company announced a 38% annual rise in net profits after Zakat and tax to SAR 40.93 million during the third quarter (Q3) of 2021 from SAR 29.57 million in Q3-20. Revenues grew by 32.5% year-on-year (YoY) to SAR 727.43 …
Financial Results
Photo Archive
27 October 04:59 PM Umm Al Qura Cement posts 61% plunge in Q3 net profits
Riyadh – Mubasher: Umm Al Qura Cement Company registered an annual decrease of 60.9% in net profits after Zakat and tax to SAR 12.47 million during the third quarter (Q3) of 2021 from SAR 31.91 million in Q3-20. Revenues declined by 34.9% to SAR …
Financial Results
Earnings per share amounted to SAR 2.14
27 October 04:44 PM Petrochem swings to profits in nine months
Riyadh – Mubasher: National Petrochemical Company (Petrochem) turned to net profits of SAR 1.158 billion in the first nine months of 2021, against net losses of SAR 22 million in the corresponding period in 2020.  Earnings per share amounted to …
Financial Results
The satellite supports the local space industry
27 October 04:37 PM MBRSC completes MBZ-SAT's structure model, initial tests
UAE - Mubasher: The Mohammed Bin Rashid Space Centre (MBRSC) has completed the structure model and initial tests of MBZ-SAT, the region's most advanced commercial satellite in the field of high-resolution satellite imagery. The team will start …
Companies Investments
Photo Archive
27 October 04:30 PM Riyad Bank’s Q3 profits soar 19%
Riyadh – Mubasher: Riyad Bank reported a year-on-year (YoY) increase of 19% in net profits to SAR 1.54 billion during the third quarter (Q3) of 2021 from SAR 1.29 billion. On a quarterly basis, the net profits in Q3-21 were 2% higher than SAR 1.51 …
Financial Results
Sales increased to SAR 17.91 billion in the nine-month period
27 October 03:59 PM Savola Group's profit down 45% in nine months
Riyadh – Mubasher: Savola Group reported SAR 476.2 million in net profits after Zakat and tax in the first nine months of 2021, down by 45% year-on-year (YoY) from SAR 866.1 million.  Earnings per share amounted to SAR 0.89 in the …
Financial Results
The company generated revenues of SAR 5.552 billion
27 October 03:55 PM SABIC Agri-Nutrients' net profits up 132% in 9M
Riyadh – Mubasher: The net profits after Zakat and tax of SABIC Agri-Nutrients Company hiked by 132.38% to SAR 2.465 billion during the first nine months of 2021 from SAR 1.06 billion in the year-ago period. The company generated revenues of …
Financial Results
The bank's assets jumped to AED 107.75 billion
27 October 03:40 PM CBD records 29% higher profits in 9M
Dubai – Mubasher: The Commercial Bank of Dubai (CBD) has reported a 28.8% year-on-year (YoY) increase in net profits to AED 1.051 billion during the first nine months of 2021, compared to AED 815.763 million in the year-ago period, according to …
Financial Results
Photo Archive
27 October 03:18 PM Bank Aljazira records SAR 204.5m net profits in Q3
Riyadh – Mubasher: Bank Aljazira registered net profits worth SAR 204.5 million during the third quarter (Q3) of 2021, up 12.6% from SAR 181.6 million in Q3-20. Quarter-on-quarter (QoQ), the net profits in Q3-21 were 18.5% lower than SAR 251.2 …
Banking and Finance
The benchmark index of the DFM went down 1.95%
27 October 02:50 PM UAE stock markets close Wednesday in red zone
UAE - Mubasher: The UAE stock markets have ended Wednesday's trading session in the red zone. The benchmark index of the Dubai Financial Market (DFM) went down 1.95% to close Wednesday's session at 2,864.17 points. A total of 121.26 million shares …
Trading Activities