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28 November 2024 03:13 PM Almoosa Health to float 30% of shares on Tadawul
Riyadh – Mubasher: Almoosa Health Company plans to proceed with its initial public offering (IPO) for listing 30% of its ordinary shares on the Main Market of the Saudi Exchange (Tadawul). The Capital Market Authority (CMA) approved Almoosa …
Trading Activities
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28 November 2024 02:34 PM DFM, ADX close Thursday mixed
UAE – Mubasher: The main index of Dubai Financial Market (DFM) gained 18.31 points (0.38%) on Thursday and ended the trading session at 4,823.38 points. DFM's turnover reached AED 541.58 million after 206.10 million shares were traded during the …
Trading Activities
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28 November 2024 02:04 PM Alpha Dhabi Holding to disburse AED 2bn dividends for 9M-24
Abu Dhabi – Mubasher: The general assembly meeting of Alpha Dhabi Holding approved interim cash dividends valued at AED 2 billion for the first nine months (9M) of 2024. The company will pay out a dividend of AED 20 fils per share before 26 …
General Assembly
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28 November 2024 01:51 PM Talabat raises size for IPO on DFM due to growing demands
Dubai – Mubasher: Talabat Holding increased its size for its initial public offering (IPO) on the Dubai Financial Market (DFM) following international and regional investor demand in the second tranche. The Securities and Commodities Authority of …
Trading Activities
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28 November 2024 00:55 PM Deyaar launches Park Five project at AED 1.5bn
Dubai – Mubasher: Deyaar Development has launched Park Five, an advanced residential community in Dubai Production City, at a value of AED 1.50 billion, according to a press release. The new scheme focuses on wellness-centric living and community …
Companies Investments
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28 November 2024 00:17 PM Salik expands expansion plans via partnership with Parkonic
Dubai – Mubasher: Salik Company partnered with Parkonic to enhance parking payment experiences across the UAE by integrating Salik’s advanced eWallet system, according to a press release. The two entities secured a five-year contract, during which …
Companies Investments
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28 November 2024 11:13 AM Lulu Retail widens operations in Saudi market via Al Fakhriyah store
Abu Dhabi – Mubasher: Lulu Retail Company has scaled up business in Saudi Arabia through the inauguration of a new Al Fakhriyah store in Dammam, according to a press release. This follows the opening of 12 new stores in the first nine months (9M) …
Global Economy
Arif Amiri, Chief Executive Officer of DIFC Authority
28 November 2024 10:30 AM Bank of Communications expands global expansion via DIFC branch
Mubasher: China-based Bank of Communications Company Limited (BOCOM) has expanded its global reach by setting up in Dubai International Financial Centre (DIFC), according to a press release. Bank of Communications has launched its new office in …
Companies Investments
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28 November 2024 10:04 AM GFH’s OUTLIVE to boost transformative developments across MENA
Mubasher: GFH Financial Group has launched OUTLIVE in Cityscape, which will operate across the MENA region and Europe. The innovative real estate developer is set to create mixed-use projects with a focus on health and well-being, according to a …
Global Economy
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27 November 2024 09:01 PM Omoda Jaecoo chooses UAE as Middle Eastern hub for upcoming operations
UAE – Mubasher: Automotive brand dedicated to pioneering the future of travel OMODA & JAECOO (Omoda Jaecoo) has decided to take the UAE as its Middle Eastern hub for upcoming market operations with the official launch in the UAE in January 2025. …
Global Economy
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27 November 2024 07:10 PM stc’s TAWAL collaborates with 5SKYE to endorse digital future in Saudi Arabia
Riyadh – Mubasher: Telecommunications Towers Company (TAWAL), a subsidiary of the listed Saudi Telecom Company (stc) and a leading ICT infrastructure firm, has joined forces with provider of edge AI infrastructure solutions 5SKYE through a …
Companies Investments
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27 November 2024 06:06 PM ADNOC launches XRG with enterprise value exceeding $80bn, platforms to meet global demand
UAE – Mubasher: Abu Dhabi National Oil Company (ADNOC) has launched XRG to be a groundbreaking international lower-carbon energy and chemicals investment company with an enterprise value of more than $80 billion, according to an official …
Companies Investments
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27 November 2024 04:47 PM Sadirat eyes acquisition of Entaj Industrial’s subsidiary
Riyadh – Mubasher: Saudi Industrial Export Company (SIEC), known as Sadirat,  has signed a non-binding memorandum of understanding (MoU) with Entaj Industrial Services Company to consider either equity acquisition or a takeover of the entire …
Mergers and Acquisitions
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27 November 2024 04:09 PM Sipchem to pay SAR 362.5m dividends for H2-24
Riyadh – Mubasher: The board members of Sahara International Petrochemical Company (Sipchem) decided, in their 26 November 2024 meeting, to distribute a total of SAR 362.56 million as cash dividends for the second half (H2) of 2024. Sipchem will …
Board of Directors
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27 November 2024 02:50 PM Egypt Energy launches to highlight growth in MENA’s renewables market; FIREX kicks off
Cairo – Mubasher: The 33rd edition of Egypt Energy and the fourth edition of FIREX Egypt launched as a joint new platform for innovation in the region on 26 November 2024 at the Egypt International Exhibition Center in Cairo. The MENA region's …
Global Economy
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27 November 2024 01:57 PM Leading UAE banks invest in LoanBook to boost loan syndication across EMEA
Dubai – Mubasher: The two listed UAE lenders Emirates NBD and Mashreq Bank unveiled their strategic investment in NewBridge Fintech Solutions, the owner of EMEA-focused LoanBook which serves as next-generation platform digitising the syndicated …
Companies Investments
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26 November 2024 04:51 PM Tadawul closes Tuesday with collective decline
Riyadh – Mubasher: The main All Share Index (TASI) of the Saudi Exchange (Tadawul) retreated by 0.44% on Tuesday and closed the trading session at 11,736.07 points. TASI’s trading value hit SAR 5.15 billion after 362.75 million shares were …
Trading Activities
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26 November 2024 04:05 PM Al Babtain Power rolls out SAR 777m deal with Hyundai
Riyadh – Mubasher: Al Babtain Power and Telecommunication Company signed a contract with Hyundai Engineering & Construction Company Limited at a value of SAR 777.22 million. The 24-month deal covers providing Head Transmission Line Steel Towers …
Companies Investments
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26 November 2024 02:59 PM Northern Region Cement to pay SAR 45m dividends for H1-24
Riyadh – Mubasher: The board of Northern Region Cement Company approved, on 25 November, cash dividends amounting to SAR 45 million for the first half (H1) of 2024. The company will pay out a dividend of SAR 0.25 per share, equivalent to 2.50% of …
Cash Dividends
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26 November 2024 02:41 PM UAE stock markets close Tuesday’s session higher
UAE – Mubasher: The main index of Dubai Financial Market (DFM) ended Tuesday’s trading session higher by 60.51 points (1.26%) at 4,828.83 points. The turnover reached AED 597.58 million after 274.33 million shares were traded during the session. …
Trading Activities
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26 November 2024 02:09 PM CBI partners with areeba to boost fintech payment solutions in UAE
Abu Dhabi – Mubasher: Commercial Bank International (CBI) has teamed up with areeba to become the first UAE lender to offer areeba’s comprehensive card and payment solutions to fintechs across the country. The partnership aims to empower UAE-based …
Companies Investments
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26 November 2024 01:49 PM e& enterprise, Cloudera to drive digital transformation across Middle East
Abu Dhabi – Mubasher: e& enterprise, the digital transformation unit of e&, entered into a strategic partnership with Cloudera, the only true hybrid platform for data, analytics, and AI. The two entities aim to accelerate digital transformation by …
Global Economy
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26 November 2024 00:58 PM Fastex expands Web3 presence in MENA with Dubai office
UAE – Mubasher: Fastex, a fast-growing cryptocurrency exchange and trading platform, has scaled up its expansion strategy in the MENA region, according to a press release. The Web3-driven solutions ecosystem inaugurated its office in the Dubai …
Global Economy
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26 November 2024 00:04 PM CMA greenlights Saudi Re’s capital hike
Riyadh – Mubasher: The Capital Market Authority (CMA) approved the request of Saudi Reinsurance Company (Saudi Re) to increase its capital through the issuance of shares with the suspension of preemptive rights. Saudi Re will raise its capital by …
Banking and Finance
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26 November 2024 10:57 AM solutions’ unit obtains SAR 500m loan from Riyad Bank
Riyadh – Mubasher: Contact Center Company (CCC), a subsidiary of Arabian Internet and Communications Services Company (solutions), obtained SAR 500 million from Riyad Bank. The short-term financing is valid for one year from the signing date of 25 …
Companies Investments