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03 December 01:08 AM

Middle east news

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2 December 05:11 PM Alwasail Industrial to offer 10% of shares on NOMU
Riyadh - Mubasher: Alwasail Industrial Company intends to offer 2.5 million ordinary shares, representing 10% of the company's shares, for the listing on Parallel Market (NOMU). The offering period will begin on Sunday, 26 December, and will end …
Initial Public Offerings
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2 December 04:44 PM EGX ends Thursday in red zone
Cairo – Mubasher: The benchmark index (EGX30) of the Egyptian Exchange (EGX) inched down 0.89% to end Thursday's trading session at 11,318.35 points. The small- and mid-cap EGX70 EWI inched down 0.28% to 2,157.56 points, while the EGX100 EWI …
Trading Activities
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2 December 04:00 PM TASI, NomuC end Thursday in green zone
Riyadh – Mubasher: The Tadawul All Share Index (TASI) went up by 0.30% or 32.83 points to end Thursday's trading session at 10,882.79 points. A total of 139.641 million shares were traded at a total value of SAR 5.111 billion. The consumer …
Trading Activities
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2 December 03:27 PM Sadr Logistics' EGM nods capital increase to SAR 175m
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Sadr Logistics Company has approved a 600% capital increase by offering the right issues. The capital will rise by SAR 150 million to SAR 175 million, compared to SAR 25 million, …
General Assembly
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2 December 02:43 PM ADQ, TAQA ink agreement to explore energy opportunities in Kazakhstan
Abu Dhabi – Mubasher: ADQ and Abu Dhabi National Energy Company (TAQA) have entered into a long-term strategic agreement with Samruk-Kazyna, a sovereign wealth fund, to explore opportunities in the energy sector in Kazakhstan. Under the …
Companies Investments
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2 December 02:03 PM Arab Cotton Ginning's consolidated loss plunges 91% in Q1-21/22
Cairo – Mubasher: Arab Cotton Ginning Company has incurred net losses of EGP 437,000 in the first quarter (Q1) of fiscal year 2021/2022, down 91% from EGP 4.71 million in the year-ago period, as shown by the company's unaudited consolidated …
Financial Results
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2 December 01:34 PM Banque du Caire sees 7% higher net profits in Q3-21
Cairo – Mubasher: The net profits of Banque du Caire rose by 7% to EGP 2.7 billion by the end of the third quarter (Q3) of 2021, compared to EGP 2.5 billion in the year-ago period, the Middle East News Agency (MENA) reported. The bank's net income …
Banking and Finance
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2 December 12:57 PM Juhayna records 28% higher profits in 9M
Cairo – Mubasher: Juhayna Food Industries has recorded consolidated net profits of EGP 490 million in the first nine months (9M) of 2021, up 27.7% from EGP 384 million in the year-ago period. The company's revenues increased to EGP 6.52 billion in …
Financial Results
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2 December 12:15 PM Palm Hills closes seventh securitisation bond issuance worth EGP 1.05bn
Cairo – Mubasher: Palm Hills Developments (PHD) has completed its seventh securitisation bond issuance backed by a receivables portfolio of around EGP 1.05 billion, in cooperation with Sarwa Capital, a subsidiary of Contact Financial Holding. …
Bonds
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2 December 11:47 AM Kima turns to profitability in Q1-21/22
Cairo – Mubasher: Egyptian Chemical Industries (Kima) has achieved net profits of EGP 122.04 million in the first quarter (Q1) of fiscal year 2021/2022, against net losses of EGP 414.84 million in the year-ago period. The company generated …
Financial Results
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2 December 11:20 AM Spain's investments in Egypt hit $24m in Q1-20/21
Cairo - Mubasher: Spain's investments in Egypt amounted to $24.3 million in the first quarter (Q1) of fiscal year 2020/2021, up 12.5% from $21.6 million in the same quarter of 2020. The trade exchange between Egypt and Spain reached $2.1 billion …
Macroeconomics
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2 December 10:53 AM El Obour Real Estate's capital raise subscription coverage exceeds 90%
Cairo - Mubasher: El-Ebour Co. for Real Estate Investment has recorded a 90.46% subscription coverage ratio to the company's capital raise. Around 10.631 million shares were issued at a total value of EGP 54.43 million or a nominal value of EGP 5 …
Companies Investments
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2 December 10:22 AM Wafrah submits file to CMA for capital increase to SAR 231.5m
Riyadh – Mubasher: Wafrah for Industry & Development Company has submitted an application file to the Capital Market Authority (CMA) to raise the company’s capital by offering right issues. The company's board has proposed to increase the capital …
Companies Investments
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2 December 10:05 AM Saudi Paper appoints financial advisor to offer rights issue for capital raise
Riyadh – Mubasher: Saudi Paper Manufacturing Company has appointed Al Anma Investment Company as the financial advisor to offer right issues to increase the company's capital. The company will submit the file to the Capital Market Authority …
Companies Investments
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1 December 06:59 PM EGX approves Odin Investments’ capital reduction on stock split
Cairo – Mubasher: The Egyptian Exchange’s (EGX) Listing Committee gave its green light for reducing Odin Investments’ capital to EGP 101.92 million from EGP 260 million. The capital decrease comes in line with splitting the par-value stock to EGP …
Management Decisions
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1 December 06:32 PM Red Sea International signs SAR 246m contract with Baker Hughes
Riyadh – Mubasher: Red Sea International Company has penned a contract worth SAR 245.77 million with Baker Hughes Company to design, manufacture, supply, and manage remote mobile modular buildings. The agreement holds a duration of seven years …
Companies Investments
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1 December 06:17 PM Aljazira Takaful’s shareholders nod to 17% capital hike
Riyadh – Mubasher: The shareholders of Aljazira Takaful Taawuni Company approved, during the extraordinary general meeting (EGM), to increase the capital by 16.86% after granting 0.1686 shares for every one owned share. The company will capitalise …
General Assembly
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1 December 05:29 PM Mastercard, Meta - Facebook team up to empower SMEs digitisation in region
Mubasher: Mastercard will be collaborating with Meta, formerly known as Facebook, to endorse the digitisation and growth of small and medium enterprises (SMEs) in the Middle East and Africa (MEA), according to a press release on Wednesday. Both …
Companies Investments
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1 December 04:59 PM EGX closes Wednesday in green zone
Cairo – Mubasher: The benchmark index (EGX30) of the Egyptian Exchange (EGX) ended Wednesday’s session higher by 0.21% at 11,420 points. The small- and mid-cap EGX70 EWI gained 1.68% to 2,163.66 points. The EGX100 EWI rose by 1.40% to 3,148.67 …
Trading Activities
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1 December 04:07 PM TASI rises on Wednesday; NomuC declines
Riyadh – Mubasher: The Tadawul All Share Index (TASI) of the Saudi Exchange (Tadawul) ended Wednesday higher by 88.16 points (0.82%) at 10,849.96 points. The trading value stood at SAR 6.25 billion after exchanging 184.74 million shares, compared …
Trading Activities
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1 December 02:30 PM EY partners with PMI-KSA Chapter to endorse Saudi project management profession
Riyadh – Mubasher: Ernst & Young (EY) signed a memorandum of understanding (MoU) with the Project Management Institute (PMI) chapter in Saudi Arabia (PMI-KSA Chapter) to boost the growth of the project management profession in the Kingdom. The …
Companies Investments
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1 December 02:02 PM Egypt-Spain trade exchange nears EUR 2bn in 9M
Cairo – Mubasher: The trade exchange between Egypt and Spain increased by 23.8% to EUR 1.96 billion during the first nine months (9M) of 2021 from EUR 1.58 billion in 9M-20, Egypt’s Minister of Trade and Industry, Nevin Gamea, stated. Spain has …
Macroeconomics
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1 December 01:03 PM Saudi Arabia's 1st Future Minerals Summit to kick off next month
Riyadh – Mubasher: Saudi Arabia will debut its first-ever Future Minerals Summit during 11-13 January 2022 in the capital Riyadh, the Ministry of Industry and Mineral Resources announced on Wednesday. A ministerial roundtable before the summit …
Event
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1 December 12:27 PM Australia’s TBH expands to Saudi Arabia
Riyadh – Mubasher: Australian planning and management services provider Tracey Brunstrom and Hammond (TBH) has expanded its operations in the Middle East through its first office in Riyadh in Saudi Arabia. Riyadh office will be TBH’s ninth global …
Companies Investments
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1 December 11:22 AM e-finance partners with Egypt’s UHIA to launch digital solutions firm
Cairo – Mubasher: e-finance for Digital and Financial Investments has teamed up with Egypt’s Universal Health Insurance Authority (UHIA) to launch a technology and digital solutions company, dubbed e-Health. e-Health will provide services for the …
Companies Investments