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25 October 11:48 PM

Gulf news

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05:12 PM Alkhorayef Water’s board nods to setting up subsidiary
Riyadh – Mubasher: The board members of Alkhorayef Water and Power Technologies Company gave the green light for establishing a new subsidiary that will be a limited liability company with Veolia Company of France. The Saudi listed firm will own …
Board of Directors
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05:04 PM Emaar City The Economic appoints Chairman, Vice Chairman
Riyadh – Mubasher: Emaar City The Economic Company has appointed Assim Alsuhaibani as the new Chairman of the board for a three-year term. The company also announced the appointment of Jamal bin Thaniah as the Vice Chairman for the same term, …
Board of Directors
Photo Archive
04:50 PM MIS’ net profits shrink 15% in Q3
Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) registered net profits after Zakat and tax worth SAR 19.05 million in the third quarter (Q3) of 2021, down by 15% year-on-year (YoY) from SAR 22.5 million. Revenues increased by 13% …
Financial Results
Higher net profits are driven by improving underlying business momentum
04:33 PM NBF records 36% higher profits in 9M
Abu Dhabi – Mubasher: The net profits of National Bank of Fujairah (NBF) increased by 36.4% to AED 90.44 million during the first nine months of 2021, compared to AED 66.315 million in the same period of 2020, as shown by the bank's consolidated …
Banking and Finance
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04:17 PM Zahrat Al Waha logs SAR 7.5m profits in Q3
Riyadh – Mubasher: Zahrat Al Waha for Trading Company reported net profits after Zakat and tax of SAR 7.47 million in the third quarter (Q3) of 2021, higher by 3.7% than SAR 7.19 million in Q3-20. Revenues grew year-on-year (YoY) by 62.9% to SAR …
Financial Results
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03:58 PM TASI, NomuC end Monday higher
Riyadh – Mubasher: The Tadawul All Share Index (TASI) of the Saudi Exchange (Tadawul) closed Monday’s trading session higher by 41.79 points (0.35%) at 11,889.84 points. The turnover totalled SAR 6.18 billion through the exchange of 178.92 million …
Trading Activities
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03:22 PM SFD finances 694 projects since establishment
Riyadh – Mubasher: The Saudi Fund for Development (SFD) has financed 694 developments across 84 countries since its inception in 1975 at a value of approximately SAR 70 billion. SFD funded renewable energy projects in nine Asian and African …
Macroeconomics
The main index inched down by around 0.2%
03:18 PM UAE stock markets close Monday in red zone
UAE - Mubasher: The UAE stock markets have ended Monday's trading session in the red zone. The benchmark index of the Dubai Financial Market (DFM) went down 0.51% to settle at 2,865 points by the end of Monday's session. A total of 214.13 million …
Trading Activities
Photo Archive
02:56 PM ANB’s net profits down 0.5% in Q3-21
Riyadh – Mubasher: Arab National Bank (ANB) registered a year-on-year (YoY) decline of 0.5% in net profits to SAR 665 million in the third quarter (Q3) of 2021 from SAR 669 million in Q3-20. On a quarterly basis, the net profits in the …
Financial Results
Emirates has already restored 90% of its network
02:41 PM Emirates plans to hire over 6,000 staff over next six months
UAE - Mubasher: Emirates Airline is planning to hire more than 6,000 staff over the upcoming six months amid the easing of restrictions because of the wider administration of vaccines. This decision was taken as the Dubai-based airline needs …
Macroeconomics
The ministry conducted 281,817 COVID-19 tests
01:43 PM UAE registers 97 COVID-19 cases
UAE - Mubasher: The UAE Ministry of Health announced on Monday 97 new coronavirus (COVID-19) cases to bring the total number of cases to 739,381. The ministry conducted 281,817 COVID-19 tests to detect further cases. The UAE reported 129 recovered …
Photo Archive
01:29 PM Unitholders of Taleem REIT Fund to receive SAR 6m dividends for Q3
Riyadh – Mubasher: The unitholders of Taleem REIT Fund will be getting a cash dividend of SAR 0.12 per unit for the third quarter (Q3) of 2021, fund manager Saudi Fransi Capital announced on Monday, The total amount of dividends will stand at SAR …
Cash Dividends
The GCI evaluates the competitiveness of 156 cities
01:09 PM Dubai ranks among top 30 cities in 2021 Global Cities Index
UAE - Mubasher: Dubai has been placed in the 23rd position globally in the 2021 Global Cities Index (GCI), according to the 2021 Global Cities Report published by Kearney, a global management consulting company. The emirate has climbed four places …
Macroeconomics
Photo Archive
12:50 PM Ma’aden records leap to over SAR 1.2bn in Q3 profits
Riyadh – Mubasher: Saudi Arabian Mining Company (Ma’aden) announced a jump of 19,548.8% in net profits after Zakat and tax to SAR 1.27 billion during the third quarter (Q3) of 2021 from SAR 6.47 million in Q3-20. Revenues increased by 43.7% …
Financial Results
The DFSA is outlining proposals for other tokens
12:15 PM DFSA launches regulatory framework for investment tokens
UAE - Mubasher: The Dubai Financial Services Authority (DFSA) has introduced a regulatory framework for investment tokens. The regulatory framework, which defines an investment token as either a security token or a derivative token, is the first …
Macroeconomics
Photo Archive
11:36 AM Zain KSA posts 0.3% higher profits in Q3
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) registered net profits after Zakat and tax worth SAR 60.4 million during the third quarter (Q3) of 2021, up 0.3% from SAR 60.2 million in Q3-20. Revenues increased by 2.9% …
Financial Results
The Fund’s portfolio includes a number of investments
11:23 AM Chimera Capital's venture capital fund exceeds $50m initial target
UAE - Mubasher: Chimera Capital, an Abu Dhabi Global Market (ADGM)-regulated fund manager and a wholly-owned subsidiary of Chimera Investment, has witnessed the second close of Chimera Global Fund I LP, exceeding its initial target of $50 million. …
Macroeconomics
Photo Archive
10:52 AM Alinma Bank achieves SAR 738m net profits in Q3
Riyadh – Mubasher: Alinma Bank recorded net profits worth SAR 738.1 million in the third quarter (Q3) of 2021, higher by 17% than SAR 629.2 million in Q3-20. On a quarterly basis, then net profits were 3.9% higher than SAR 710.3 million in Q2-21, …
Financial Results
The liquidity provider will not hold over 5% of the company's share capital
10:40 AM Sharjah Group appoints BHM Capital as liquidity provider
Abu Dhabi – Mubasher: Sharjah Group has inked an agreement with BHM Capital Financial Services to act as a liquidity provider for its traded shares on the Abu Dhabi Securities Exchange (ADX). Under the agreement, the liquidity provider will not …
Companies Investments
A co-investment was made in a global healthcare education provider
10:14 AM GFH partners with Schroders Capital to invest in private equity deals
Mubasher: GFH Financial Group has inked a strategic partnership with Schroders Capital, the private markets investment division of the UK's Schroders, to invest in a number of private equity and venture capital deals. The partnership will enable …
Companies Investments
The company generated revenues of AED 11.424 billion
09:44 AM IHC unit Alpha Dhabi's profits surge in 9M
Abu Dhabi - Mubasher: Alpha Dhabi Holding reported AED 2.155 billion net profits attributable to the owners during the first nine months of 2021, compared to AED 186.252 million in the year-ago period, according to the company's interim …
Financial Results
Photo Archive
24 October 06:02 PM Aslak eyes equity acquisition in Themar
Riyadh – Mubasher: United Wire Factories Company (Aslak) has signed a non-binding memorandum of understanding (MoU) with Themar for Food and Catering Company for a potential acquisition of a stake in the catering firm. Aslak said the MoU, which …
Mergers and Acquisitions
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24 October 05:45 PM Dallah Healthcare secures long-term Murabaha facility from Al Rajhi Bank
Riyadh – Mubasher: Dallah Healthcare Company has obtained a long-term Murabaha loan worth SAR 900 million from Al Rajhi Bank. The financing facility holds a 10-year duration period from the date of receiving the Sharia-compliant funding on 24 …
Banking and Finance
Photo Archive
24 October 05:36 PM Saudi Kayan turns to profits worth SAR 667.5m in Q3
Riyadh – Mubasher: Saudi Kayan Petrochemical Company has turned profitable at SAR 667.45 million in the third quarter (Q3) of 2021, against losses worth SAR 28.16 million in Q3-20. Revenues increased by 63% year-on-year (YoY) to SAR 3.43 billion …
Financial Results
The project will be delivered within one year
24 October 04:38 PM solutions, stc ink SAR 201m contracts for data centre in NEOM
Riyadh – Mubasher: Arabian Internet and Telecommunication Company (solutions) has inked SAR 201.338 million contracts with Saudi Telecom Company (stc) to support establishing a modern data centre in NEOM. Under the contracts, NEOM will be provided …
Companies Investments