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05 April 08:43 AM

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9 December 2024 10:03 AM Aramco partners with Linde, SLB to create CCS global hub
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco) has penned a shareholders’ agreement with Linde and SLB to develop a Carbon Capture and Storage (CCS) hub, according to a press release. The CCS hub is expected to become one of the largest …
Global Economy
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8 December 2024 09:14 PM FABMISR aligning efforts with group's ambitious target of facilitating $136bn by 2030 – CEO
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR) of the UAE-listed lender FAB is aligning efforts with the group's ambitious target of facilitating $136 billion by 2030, CEO and Managing Director, Mohamed Abbas Fayed, said in line with the …
Banking and Finance
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8 December 2024 06:34 PM Emirates Islamic extends long-term strategic partnership agreement with Visa
Dubai – Mubasher: Emirates Islamic Bank has recently renewed its partnership with Visa under a multiyear agreement under which the digital payments enabler will be granted exclusivity over all credit cards issued by the UAE bank. The extension of …
Companies Investments
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8 December 2024 02:45 PM Yanbu Cement unveils H2-24 dividends; total annual payout nears SAR 197m
Riyadh – Mubasher: The board members of Yanbu Cement Company decided, in their 7 December 2024 meeting, to distribute cash dividends totalling SAR 78.75 million for the second half (H2) of 2024. The company will pay SAR 0.50 per share, …
Cash Dividends
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5 December 2024 08:18 PM EFG Hermes concludes advisory on SAR 990m IPO for extra’s subsidiary
Cairo – Mubasher: EFG Hermes, a subsidiary of EFG Holding, advised United Electronics Company (eXtra), on the SAR 990 million initial public offering (IPO) of its subsidiary on the Saudi Exchange’s Main Market (Tadawul). United International …
Trading Activities
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5 December 2024 07:21 PM Aliph Capital backs GCC-focused companies via 25% equity acquisition deal
UAE – Mubasher: Aliph Capital, an ADGM-based private equity manager, has acquired a 25% stake in SANIPEX Group, a leading homegrown lifestyle product supplier. The investment follows Aliph’s recent commitment from Saudi Venture Capital (SVC) to …
Mergers and Acquisitions
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5 December 2024 06:39 PM Bahrain’s Beyon Cyber launches business in Saudi Arabia to fuel regional presence
Bahrain-Mubasher: Beyon Cyber, part of Beyon, has officially launched its business in Saudi Arabia, reinforcing its presence in the Middle East’s cybersecurity market, according to a press release.  The expansion plans were unveiled during the …
Event
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5 December 2024 06:08 PM Tadawul closes Thursday’s session in green zone
Riyadh – Mubasher: The All Share Index (TASI) of the Saudi Exchange (Tadawul) rose by 44.99 points (0.38%) at the end of Thursday, closing the session at 11,931.85 points. A total of 410.30 million shares were traded at a turnover worth SAR 5.88 …
Trading Activities
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5 December 2024 06:06 PM Saudi PIF, France’s Bpifrance sign $10bn financing deal
Riyadh – Mubasher: The Public Investment Fund (PIF) and Bpifrance Assurance Export, represented by the French Treasury office in Riyadh, inked a deal for providing up to $10 billion in financing to the fund’s portfolio companies. The memorandum of …
Companies Investments
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5 December 2024 05:34 PM Mubadala’s Solutions+ launches decarbonisation subsidies for SMEs in Abu Dhabi
UAE – Mubasher: Solutions+, owned by Mubadala Investment Company, has launched the Project Decarb 2.0 initiative aimed at accelerating the decarbonisation journey of SMEs across Abu Dhabi. This initiative, which is set to commence in 2025, will …
Companies Investments
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5 December 2024 04:42 PM UAE stock markets close Thursday with mixed performance
UAE – Mubasher: The benchmark index DFMGI of Dubai Financial Market (DFM) declined by 33.27 points (0.68%) at the end of Thursday’s trading session, hitting 4,820.37 points. A total of 335.85 million shares were traded at a turnover worth AED …
Trading Activities
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5 December 2024 01:24 PM Sharjah Islamic Bank joins Network International to offer multi-channel payment acceptance solutions
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) has entered into a new partnership with Network International to provide the bank’s UAE-based customers with advanced digital financial services, such as point-of-sale (POS), card acceptance, and …
Companies Investments
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5 December 2024 10:59 AM Almoosa Health announces price range for Tadawul IPO
Riyadh – Mubasher: Almoosa Health Company has commenced the bidding and book-building for its initial public offering (IPO) on the Main Market of the Saudi Exchange (Tadawul). The company set the price range for its offering between SAR 123 and …
Trading Activities
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5 December 2024 10:35 AM NMDC’s unit eyes 70% equity in Emdad
Abu Dhabi – Mubasher: NMDC LTS, wholly owned by National Marine Dredging Company (NMDC), inked a definitive agreement to acquire a 70% stake of the share capital and voting rights of Emdad LLC from its current shareholders. The acquisition will …
Companies Investments
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5 December 2024 10:29 AM Dubai Chambers partners with HSBC to back global business expansion
UAE – Mubasher: Dubai Chambers penned a memorandum of understanding (MoU) with HSBC Bank Middle East Limited to anchor the expansion of local companies into global markets. The joint agreement aims to enhance the ability of international companies …
Banking and Finance
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5 December 2024 09:37 AM The Binary Holdings secures $5m investment to bolster global digital economy
UAE - Mubasher: The Binary Holdings, a Dubai-based technology powerhouse valued at $16.90 billion, has secured up to $5 million from ABO Digital, according to a press release. The investment aligns with the web3 infrastructure provider’s vision to …
Global Economy
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5 December 2024 09:02 AM Crypto.com, Mastercard to expand digital payments in GCC
Mubasher: Crypto.com has secured a principal licence with Mastercard to directly issue cards on its network, boosting the digital payments industry in the GCC region. Crypto.com is set to launch a card powered by Mastercard in Bahrain, according …
Companies Investments
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4 December 2024 05:37 PM Tadawul closes Wednesday in green zone
Riyadh – Mubasher: The main All Share Index (TASI) of the Saudi Exchange (Tadawul) showed a positive performance on Wednesday after rising by 0.60% to 11,886.86 points. The trading value amounted to SAR 7.02 billion after 334.51 million shares …
Trading Activities
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4 December 2024 03:38 PM Saudi Venture Capital unveils investment in GCC-focused Aliph Fund I
Riyadh – Mubasher: Saudi Venture Capital (SVC) has invested in Aliph Fund I, a GCC-focused growth fund from Aliph Capital, according to a press release. Aliph Fund I is a $250 million target PE fund that invests in mid-market companies across …
Companies Investments
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4 December 2024 02:57 PM Aramco, TotalEnergies, SIRC to develop sustainable aviation fuels plant
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco), TotalEnergies, and Saudi Investment Recycling Company (SIRC) inked a joint development and cost-sharing agreement (JDCSA). The joint deal aims to assess the potential development of a …
Companies Investments
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4 December 2024 02:22 PM UAE stock markets close Wednesday’s session higher
UAE – Mubasher: The main index of Dubai Financial Market (DFM) gained 6.30 points (0.13%) on Wednesday and closed the trading session at 4,853.64 points. DFM's turnover reached AED 829.06 million after 326.59 million shares were exchanged during …
Trading Activities
Dmitry Kachmar, Founder of Playgama
4 December 2024 00:42 PM Dubai-based Playgama raises $3m funding to expand Web gaming development
UAE – Mubasher: Dubai-based game tech startup Playgama has secured $3 million in a funding round led by The Open Platform and s16vc, according to a press release. The transaction also witnessed the participation of FJ Labs, The Games Fund, TON …
Companies Investments
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4 December 2024 00:09 PM Aldar acquires AED 2.3bn flagship commercial tower
Abu Dhabi – Mubasher: Aldar Properties secured one of the largest commercial tower acquisitions registered in Dubai International Financial Centre (DIFC), according to a press release. Aldar acquired a flagship tower from H&H Development at a …
Companies Investments
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4 December 2024 11:36 AM Riyadh Steel’s CEO resigns; Acting CEO unveiled
Riyadh – Mubasher: Riyadh Steel Company has approved the resignation of Ahmed bin Abdulkarim Al Nafea from his position as its CEO, which will be effective on 31 December 2024. The board members decided, on 3 December, to appoint Abdullah Radhwan …
Corporate Actions
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4 December 2024 11:17 AM e& Egypt, pmaestro team up to foster digital transformation in MENA
Cairo – Mubasher: e& Egypt by ADX-listed e& inked a strategic partnership with pmaestro to reinforce digital transformation across Egypt and the MENA region, according to a press release. The partnership aims to support Digital Inclusion to ensure …
Global Economy