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9 July 2025 00:13 PM NWC to implement 38 water, sanitation projects for SAR 2bn

Riyadh – Mubasher: The National Water Company (NWC) started executing 38 water and sanitation projects in the Asir region of the Southern Cluster at a combined value of SAR 2 billion. These projects include the construction of lines and networks …

Companies Investments

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9 July 2025 11:57 AM UK’s LemFi launches payment solutions in Egypt

Cairo - Mubasher: London-based international payment services startup LemFi has launched its business in Egypt, expanding its presence across the US, Canada, the UK, and Europe. The platform provides its offerings across Egypt’s massive diaspora …

Companies Investments

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9 July 2025 10:58 AM Dar Al Arkan unveils 2 key appointments

Riyadh - Mubasher: Dar Al Arkan Real Estate Development Company named Yousuf Abdullah Al Shelash as the board’s Chairman for the next four years. Hathloul Saleh Al Hathloul was announced as the Vice Chairman, according to a bourse filing. They …

Board of Directors

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9 July 2025 10:49 AM Al Seer Marine expands portfolio via AED 760m facility from ADCB

Abu Dhabi – Mubasher: Al Seer Marine Supplies and Equipment Company obtained an AED 760 million ($207 million) facility from Abu Dhabi Commercial Bank (ADCB) for eight years to support its diversified fleet growth and strategic investments. The …

Banking and Finance

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9 July 2025 10:10 AM Prices of investment funds including certificates in EGP, USD

Cairo – Mubasher: Based on 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 as of 8 July 2025. …

Trading Activities

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9 July 2025 09:40 AM Alpaca, Kuwait-based ZAD boost Shariah-compliant investments globally

Mubasher: Alpaca, a US-headquartered self-clearing broker-dealer and brokerage infrastructure for stocks, ETFs, options, and fixed income, partnered with Kuwait-based digital investment platform ZAD to expand access to Shariah-compliant investment …

Companies Investments

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9 July 2025 08:42 AM ASCOM swings to losses in 2024; consolidated revenues hit EGP 3.2bn

Cairo – Mubasher: Asec Company for Mining (ASCOM) incurred consolidated net losses after tax valued at EGP 331.82 million in 2024, against net profits worth EGP 1.95 billion as of 31 December 2023. Revenues from contracts hiked to EGP 3.22 billion …

Financial Results

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8 July 2025 09:23 PM MENA-focused Mashreq Bank backs AGSI’s green steel via AED 126m

Dubai - Mubasher: Mashreq Bank has extended a AED 126 million sustainable financing facility to Arabian Gulf Steel Industries (AGSI), according to a press release. The green loan will accelerate AGSI’s sustainability agenda and support its …

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8 July 2025 08:28 PM DIB closes $1bn syndicated term-finance facility for Pakistan

Dubai – Mubasher: Dubai Islamic Bank (DIB) has completed a $1 billion syndicated term-finance facility for Pakistan, arranged in collaboration with a consortium of regional and international financial institutions, according to a press release. …

Companies Investments

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8 July 2025 07:52 PM BioSapien extends pre-Series A funding round to $8m

UAE – Mubasher: BioSapien has extended its pre-Series A round to over $8 million, adding Globivest to its list of backers, alongside Global Ventures, Golden Gate Ventures, and Dara Holdings. Globivest is the first women-led, gender lens venture …

Companies Investments

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8 July 2025 07:18 PM eXtra posts 10.5% higher revenues in H1-25; profits near SAR 228m

Riyadh – Mubasher: United Electronics Company (eXtra) recorded net profits worth SAR 227.90 million in the first half (H1) of 2025, up 13.68% from SAR 200.47 million in H1-24. The sales hiked by 10.35% year-on-year (YoY) to SAR 3.86 billion in …

Financial Results

Founders of Rekaz

8 July 2025 06:02 PM Rekaz closes $5m seed to expand AI-driven tools in GCC region

Riyadh- Mubasher: Saudi SaaS startup Rekaz has raised $5 million in seed funding to scale its operating system for service-based businesses, such as gyms, salons, and mobile providers. The funding round was led by COTU Ventures, with participation …

Companies Investments

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8 July 2025 05:18 PM icogz raises $1.4m pre-seed funding to expand business in MENA, Asia

UAE - Mubasher: icogz, a UAE-based provider of AI-native business intelligence and analytics solutions, has raised $1.40 million in pre-seed funding to accelerate regional expansion. The transaction was backed by angel investors and syndicates …

Companies Investments

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8 July 2025 04:58 PM Egypt’s net international reserves hit $48.7bn in June

Cairo – Mubasher: Egypt’s net international reserves (NIR) enlarged to $48.70 billion at the end of June 2025 from $48.52 billion, according to the Central Bank of Egypt (CBE) data. Net foreign assets (NFAs) of Egypt’s banking sector amounted to …

Banking and Finance

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8 July 2025 07:33 AM TMG Holding records EGP 211bn in new sales during H1-25

Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) recorded total sales amounting to EGP 211 billion as of 30 June 2025, higher by 59% than EGP 133 billion in the first half (H1) of 2024. The strong sales were mainly driven by …

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8 July 2025 07:18 AM Qalaa Holdings’ revenues leap 53% in 2024

Cairo – Mubasher: Qalaa Holdings achieved 53% year-on-year (YoY) higher revenues at EGP 148.90 billion in 2024, mainly driven by Egyptian Refining Company’s (ERC) USD-denominated revenue. The company’s EBITDA reached EGP 21.40 billion as of 31 …

Financial Results

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7 July 2025 05:36 PM Ladun’s subsidiary pens SAR 90.5m deal for Abha Walk project

Riyadh – Mubasher: Built Industrial Company, a unit of Ladun Investment Company, inked a SAR 90.46 million contract with Arab Markets Company to develop the Abha Walk project. The mixed-use building project is located on King Fahd Road in the city …

Companies Investments

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7 July 2025 05:21 PM Dubai Land Department, Crypto.com partner to boost digital real estate, Blockchain integration

UAE - Mubasher: The Dubai Land Department (DLD) has signed a memorandum of cooperation (MoC) with Crypto.com to develop a digital investment environment for virtual real estate assets. The partnership aligns with the Dubai Government’s vision to …

Companies Investments

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7 July 2025 05:05 PM ADIB allocates AED 17.3bn for sustainable finance in 2024

Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) has mobilized AED 17.30 billion in sustainable finance by the end of 2024, advancing toward its AED 60 billion target by 2030. ADIB became the first Islamic bank in the region to set …

Companies Investments

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7 July 2025 04:44 PM Contact Creditech, Kashier team up to expand BNPL services in Egypt

Cairo - Mubasher: Contact Creditech, the digital consumer finance arm of Contact Financial Holding, has entered a strategic partnership with Kashier, one of the leading online payment gateways in Egypt and the Middle East. The two entities will …

Companies Investments

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7 July 2025 04:31 PM Nayifat Finance rolls out 5-year strategy to drive sustainable growth

Riyadh- Mubasher: Nayifat Finance Company has launched its new five-year strategy until 2030, planning to foster its position in the financing sector and actively contribute to achieving the goals of Saudi Vision 2030. The company aims to enable …

Companies Investments

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7 July 2025 07:28 AM AD Ports, Ningbo Zhoushan Port to establish auto logistics ecosystem

Abu Dhabi – Mubasher: Abu Dhabi Ports Company (AD Ports) partnered with Zhejiang Provincial Seaport Investment and Operation Group Company Limited (Ningbo Zhoushan Port Group)to establish a comprehensive automotive logistics ecosystem project. The …

Companies Investments

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7 July 2025 06:29 AM Modon Holding generates AED 5.5bn sales from Wadeem project within 72 hours

Abu Dhabi - Mubasher: Modon Holding completed the sell-out of Wadeem on Hudayriyat Island within 72 hours of launch, generating sales amounting to AED 5.50 billion. The strong sales make Wadeem 2025’s highest-valued real estate release in Abu …

Companies Investments

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7 July 2025 06:22 AM Juhayna partners with Saudi Al Rashed Distribution to expand business

Cairo – Mubasher: Juhayna Food Industries has been cooperating with Al Rashed Distribution Company in Saudi Arabia in line with its business strategy of targeting new markets. Juhayna currently exports its products to 48 countries, while entering …

Companies Investments

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7 July 2025 06:18 AM EFG Hermes advises on $190m investment in Alameda to fuel regional expansion

Mubasher: EFG Hermes, an EFG Holding Company, has acted as the sole M&A financial advisor on the signing of binding agreements for a $190 million minority stake investment in Alameda Healthcare by Development Partners International (DPI). Its …

Banking and Finance