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05 April 04:36 AM

Gulf news

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8 April 2025 02:39 PM ADES Holding renews SAR 1bn jackup deal
Riyadh – Mubasher: ADES Holding Company has signed a contract renewal for one of its standard offshore jackup rigs with A Major National Oil Company on 7 April 2025. The unit was among the six suspended rigs that were previously operating in Saudi …
Companies Investments
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8 April 2025 02:14 PM MBC Group’s CEO resigns; Sneesby succeeds
Riyadh - Mubasher: Samuel James Kilion Barnett resigned from his position as the CEO of MBC Group, effective on 30 April 2025. The board appointed Michael John Sneesby as the new CEO, taking over his role on 1 May, according to a bourse statement. …
Corporate Actions
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8 April 2025 01:39 PM eXtra logs SAR 103.5m profits in Q1-25
Riyadh – Mubasher: The net profits of United Electronics Company (eXtra) jumped by 10.12% year-on-year (YoY) to SAR 103.36 million in the first quarter (Q1) of 2025 from SAR 93.86 million. The revenues hit SAR 1.74 billion in the first three …
Financial Results
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8 April 2025 11:07 AM Awqaf Dubai inks MoU with Lulu Retail for joint projects in Dubai
Abu Dhabi – Mubasher: The Endowment and Minors Trust Foundation (Awqaf Dubai) has signed a strategic memorandum of understanding (MoU) with Lulu Retail Company to establish new hypermarkets and supermarkets across Dubai. The agreement was …
Companies Investments
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8 April 2025 09:50 AM SPIMACO appoints Chairman, Vice Chairman
Riyadh – Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) unveiled key appointments for a new board term that will end on 2 April 2029. SPIMACO named Khalid Abdulrahman Alqwaiz as the board’s Chairman for the …
Management Decisions
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8 April 2025 09:37 AM Prices of investment funds including certificates in EGP, USD
Cairo – Mubasher: According to updated data, Mubasher is featuring mutual funds along with relevant prices based on the latest closing. Below you can find the names of Investment Funds as well as the price of each certificate in EGP, except for …
Banking and Finance
Sham Treon, Chief Risk Officer for Middle East at GTN
8 April 2025 07:00 AM GTN bolsters risk management in Middle East with key hire of Sham Treon as new CRO
Mubasher: GTN, a global fintech redefining investing and trading for all, is pleased to announce the appointment of Sham Treon as Chief Risk Officer for the Middle East. Taking the helm as GTN’s first Chief Risk Officer in the Middle East, Sham …
Global Economy
7 April 2025 08:40 PM Tariffs should have modest impact on MENAT region – Report
Global Reports
7 April 2025 06:22 PM Stournaras says Trump’s tariffs could adversely impact Eurozone growth
Global Markets brief
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7 April 2025 05:26 PM Saudi Ceramics unveils 2 key appointments
Riyadh – Mubasher: Saudi Ceramic Company (Saudi Ceramics) appointed Yousuf Saleh Aba Al Khail as the board’s Chairman for the next four years. The board members also named Abdulaziz Abdulkarim Al Khereiji as the Vice Chairman, according to a …
Corporate Actions
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7 April 2025 05:10 PM 2P Perfect Presentation increases, renews SAR 150m facility deal with Bank Aljazira
Riyadh – Mubasher: Perfect Presentation for Commercial Services Company (2P Perfect Presentation) raised and renewed a facility agreement valued at SAR 150 million with  Bank Aljazira. The loan is valid from April 2025 till 22 January 2026, …
Companies Investments
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7 April 2025 03:45 PM Prices of investment funds including certificates in EGP, USD
Cairo – Mubasher: According to updated data, Mubasher is featuring mutual funds along with relevant prices based on the latest closing. Below you can find the names of Investment Funds as well as the price of each certificate in EGP, except for …
Trading Activities
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7 April 2025 11:42 AM DEWA expands electricity distribution network amid increasing demand
Dubai – Mubasher: Dubai Electricity and Water Authority (DEWA) commissioned 1,530 11 kilovolts (KV) distribution substations across Dubai in 2024, marking an 8.20% increase compared to 2023. Saeed Mohammed Al Tayer, Managing Director and CEO of …
Companies Investments
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7 April 2025 10:14 AM ACWA Power begins commercial operation at wind power plant in Uzbekistan
Riyadh – Mubasher:  ACWA Power Company has commenced commercial operations at the 500-MW Bash wind power plant in Uzbekistan, according to a bourse disclosure. ACWA Power, which holds a 65% stake in the project, expects that the financial impact …
Companies Investments
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7 April 2025 09:32 AM Tawuniya’s board recommends SAR 225m dividends for 2024
Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) announced the board’s recommendation to pay out cash dividends valued at SAR 225 million for 2024. The insurance firm will disburse a dividend of SAR 1.50 per share for 150 …
Cash Dividends
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7 April 2025 09:17 AM Dubai’s real estate market exceeds AED 114bn in Q1-25
UAE – Mubasher: Dubai’s real estate market recorded a total transaction value of AED 114.08 billion in the first quarter (Q1) of 2025, marking an annual increase of 29.19%. Total transactions jumped by 23.11% year-on-year (YoY) to 42,269 as of 31 …
Macroeconomics
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6 April 2025 06:04 PM Response Plus, Falcon Aviation Services join forces to boost UAE's healthcare
Abu Dhabi – Mubasher: Response Plus Medical Services, a subsidiary of Response Plus Holding, has signed a memorandum of understanding (MoU) with Falcon Aviation Services LLC, a leading Emirati business aviation services operator in the Middle East …
Companies Investments
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6 April 2025 05:46 PM Emaar The Economic City submits capital hike file to CMA
Riyadh – Mubasher: The board members of Emaar The Economic City (EEC) applied to the Capital Market Authority (CMA) to increase its capital through debt conversion, according to a bourse filing. The transaction will be implemented through …
Mergers and Acquisitions
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6 April 2025 05:40 PM Prices of investment funds including certificates in EGP, USD – Updated
Cairo – Mubasher: According to updated data, Mubasher is featuring mutual funds along with relevant prices based on the latest closing. Below you can find the names of Investment Funds as well as the price of each certificate in EGP, except for …
Mutual Funds
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6 April 2025 04:52 PM ADES Holding enters Brazilian market via SAR 319m agreement
Riyadh – Mubasher: ADES Holding Company has entered a charter agreement for its premium jackup rig, Admarine 511, with Constellation Oil Services Holding to execute a contract for Petrobras in Brazil. This agreement marks the Saudi group’s entry …
Companies Investments
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6 April 2025 02:38 PM TAQA, EWEC ink power purchase agreement for AED 36bn project
Abu Dhabi – Mubasher: Abu Dhabi National Energy Company (TAQA) and Emirates Water and Electricity Company (EWEC) jointly developed and implemented new energy infrastructure projects to advance the UAE National Strategy for Artificial Intelligence …
Companies Investments
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6 April 2025 00:34 PM Elm secures SAR 1.9bn loan from SNB
Riyadh – Mubasher: Elm Company penned a Shariah-aligned facility agreement valued at SAR 1.90 billion with The Saudi National Bank (SNB) on 27 March 2025. The Saudi company aims to finance corporate expansion and acquisitions, according to a …
Companies Investments
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6 April 2025 11:24 AM Entaj’s board mulls SAR 15m cash dividends for 2024
Riyadh – Mubasher: The board of Arabian Company for Agricultural and Industrial Investment (Entaj) recommended cash dividends valued at SAR 15 million for 2024. Entaj will pay out a dividend of SAR 0.50 per share, representing 5% of the share’s …
Board of Directors
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6 April 2025 10:26 AM IHC-owned Maseera acquires Egypt’s ADVA to boost AI-powered financial inclusion
Abu Dhabi – Mubasher: Maseera Holding for Financial Investments, a portfolio company of International Holding Company’s (IHC) subsidiary 2PointZero, has acquired Egyptian consumer finance platform ADVA. The transaction enabled ADVA to become …
Companies Investments
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6 April 2025 10:22 AM Al Arabia, Multiply Group to derive global expansion in advertising sector
Mubasher: Arabian Contracting Services Company (Al Arabia) and Multiply Group's media vertical teamed up to create a joint venture (JV) to invest in the global out-of-home (OOH) advertising sector. The 90-day memorandum of understanding (MoU) will …
Companies Investments