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3 March 05:37 PM Madinet Masr offers to develop 3 lands with Heliopolis Company
Cairo – Mubasher: Heliopolis Company for Housing and Development has received a technical and financial offer for the development of three plots of land in New Heliopolis City in partnership with Madinet Masr Housing and Development. The three …
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3 March 04:48 PM Al Akaria’s profits shrink 39% in 2023; accumulated losses unveiled
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) logged net profits standing at SAR 67.60 million in 2023, an annual drop of 38.82% from SAR 110.50 million, according to the income results. Al Akaria posted revenues amounting to SAR 1.81 …
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3 March 04:38 PM Tadawul shows varied performance on Sunday
Riyadh – Mubasher: The main market’s All Share Index (TASI) of the Saudi Exchange (Tadawul) fell on Sunday by 75.66 points (0.60%), closing at 12,555.20 points. The trading value hit SAR 8.19 billion through the exchange of 346.81 million shares. …
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3 March 04:36 PM EGX closes week’s 1st session with mixed performance
Cairo – Mubasher: The Egyptian Exchange (EGX) ended Sunday’s session with varied performance, and the main index, EGX30, edged higher by 0.32% to end at 29,058.33 points. On the other hand, the EGX70 index decreased by 0.20% to end at 7,291.98 …
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3 March 04:13 PM GB Corp’s consolidated profit tumbles 83% YoY in 2023
Cairo – Mubasher: GB Corp’s consolidated net profit after tax dropped 82.80% year-on-year (YoY) to EGP 1.81 billion in 2023 from EGP 10.53 billion a year earlier. Consolidated operating revenues declined to EGP 28.31 billion last year from EGP …
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3 March 03:55 PM Bank of Sharjah leads $750m bond issuance
Abu Dhabi – Mubasher: Bank of Sharjah acted as a joint lead manager and book-runner in the issuance of a $750 million bond for the Government of Sharjah. The listed lender issued the 12-year U.S. dollar-denominated 144A/Reg S senior unsecured …
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3 March 03:24 PM Borouge opens new offices in Kenya, South Korea to widen global footprint
Abu Dhabi – Mubasher: Borouge has established new offices in Kenya and South Korea in line with its strategic plans to expand its market share in high-growth geographies, according to a press release. Besides its sales and marketing office in …
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3 March 02:42 PM ADNOC acquires 25% equity ownership in global energy group OMV
Abu Dhabi – Mubasher: Abu Dhabi National Oil Company (ADNOC) has officially closed the acquisition of a 24.90% shareholding in Austria-based OMV AG OMV AG from Mubadala Investment Company. The transaction aligns with ADNOC’s global chemicals …
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3 March 02:10 PM Beltone Leasing pens EGP 925m factoring deal for Redcon Properties
Cairo – Mubasher: Beltone Leasing and Factoring, a subsidiary of Beltone Holding, has signed an EGP 925 million syndicated factoring deal for Redcon Properties. The agreement is aimed at providing financial support to Redcon Properties, the real …
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3 March 02:00 PM NCLE unveils 2 key appointments
Riyadh - Mubasher: The National Company for Learning and Education (NCLE) appointed Khaled bin Mohammed Al Khudair as the Chairman of the board for three years. NCLE also named Ibrahim bin Abdelrahman Al Derei as the Vice Chairman, according to a …
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3 March 01:45 PM EFIC’s consolidated profit dips to EGP 700m in 2023
Cairo – Mubasher: Egyptian Financial and Industrial Company (EFIC) reported a consolidated net profit after tax of EGP 700.34 million in 2023, down from EGP 755.85 million a year earlier. On the other hand, consolidated net sales soared to EGP …
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3 March 01:29 PM Emaar Misr records EGP 6.8bn consolidated profit in 2023
Cairo – Mubasher: Emaar Misr for Development logged a consolidated net profit after tax of EGP 6.81 billion in 2023, versus EGP 6.56 billion a year earlier. Consolidated revenues grew to EGP 15.09 billion last year from EGP 14.73 billion in 2022, …
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3 March 01:23 PM Saudi Aramco completes acquisition of Chile’s Esmax
Riyadh – Mubasher: Saudi Arabian Oil Company (Aramco)has fully acquired Esmax Distribución SpA, a leading diversified downstream fuels and lubricants retailer in Chile. The transaction, which was first announced in September 2023, marks Aramco’s …
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3 March 12:52 PM TMG Holding’s ICON finalises acquisition of 7 historic hotels in Egypt
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) announced completing all procedures for the acquisition of a 51% stake in the management rights of Legacy Hospitality and Touristic Projects, which owns seven historic hotels in …
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3 March 12:44 PM ADIB to pay AED 2.5bn cash dividends for 2023
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) obtained the approval of its general assembly to disburse cash dividends of AED 2.59 billion for 2023, according to a press release. ADIB will pay out a dividend of 71 fils per share, marking an …
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3 March 12:18 PM Egypt Aluminum targets over EGP 4bn profits in FY24/25
Cairo – Mubasher: Egypt Aluminum is expecting to achieve a net profit of EGP 4.26 billion during the fiscal year (FY) 2024/2025, down from EGP 4.85 billion estimated in FY2023/2024. The company seeks to generate EGP 26.69 billion in total sales …
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3 March 12:06 PM Zain KSA’s profits leap 130.5% in 2023; dividends proposed
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) posted an annual hike of 130.36% in net profit to SAR 1.26 billion as of 31 December 2023, compared to SAR 550 million. Earnings per share (EPS) enlarged to SAR 1.41 last …
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3 March 11:34 AM Cenomi Centers completes $500m sukuk issuance
Riyadh – Mubasher: Arabian Centres Company (Cenomi Centers) has concluded the issuance of international USD-denominated Shari’ah-compliant Sukuk worth $500 million. A total of 2,500 sukuk were sold at a price of $200,000 per each, according to a …
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3 March 11:21 AM Agthia raises stake in Egypt-based Auf Group to 70%
Abu Dhabi – Mubasher: Agthia Group has completed the acquisition of an additional 10% shareholding in Egypt-based healthy snacks and coffee manufacturer and retailer Auf Group. Through this transaction, the ADX-listed group increased its equity …
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3 March 11:12 AM Gas Arabian Services inks SAR 598m contracts with Saudi Power Procurement
Riyadh – Mubasher: Gas Arabian Services Company signed two contracts with Saudi Power Procurement Company at a total value of around SAR 598.01 million. The first contract includes providing engineering, procurement, and construction (EPC) works …
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3 March 10:54 AM Suez Canal Bank registers higher profits in 2023, capital hike proposal
Cairo – Mubasher: Suez Canal Bank achieved EGP 2.29 billion in net profit after tax during 2023, an annual growth from EGP 1.04 billion. Net interest income amounted to EGP 3.24 billion as of 31 December 2023, marking a year-on-year (YoY) hike …
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3 March 10:48 AM ADIB Egypt withdraws acquisition offer of Cairo National for Investment
Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) has withdrawn a mandatory tender offer (MTO) to acquire the free float shares of Cairo National for Investment and Securities company. The offer was originally submitted on 14 December …
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3 March 10:31 AM B Investments’ board nods to $3m investments into Basata
Cairo – Mubasher: B Investments Holding’s board of directors has approved investing $3 million in Basata Holding for Financial Payments and its affiliates. The investment is set to fund Basata’s regional expansion plan, according to a bourse …
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3 March 10:22 AM e& bolsters connectivity in 16 countries via $6bn investments
Abu Dhabi – Mubasher: e& announced plans to invest $6 billion between 2024-2026 in technological advancement, infrastructure development, and innovative digital solutions to boost connectivity. The listed group made this commitment to the …
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3 March 10:01 AM CBE issues T-bills worth EGP 50bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced treasury bills (T-bills) at a combined value of EGP 50 billion through two equal issues on Sunday, 3 March 2024. Each auction was valued at EGP 25 billion, according to the CBE's official …