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9 February 2025 03:16 PM Saudi flynas launches 2 weekly direct flights between Jeddah, El-Alamein
Riyadh – Mubasher: flynas has launched direct flights between Jeddah and El-Alamein International Airport (DBB) on the north coast of Egypt as of 1 July 2025, according to a press release. Two weekly flights will be operated between King Abdulaziz …
Companies Investments
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9 February 2025 11:09 AM Global tech event LEAP 2025 kicks off in Saudi Arabia
Riyadh – Mubasher: The fourth edition of the LEAP 2025 Tech Conference kicked off on Sunday, 9 February, at the Riyadh Exhibition and Convention Center in Malham under the theme ‘Into New Worlds’. Held by the Ministry of Communications and …
Event
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9 February 2025 10:10 AM Dana Gas ends 2024 with positive performance following Egypt’s consolidated concession deal
Abu Dhabi – Mubasher: The net profits of Dana Gas fell by 6% year-on-year (YoY) to $151 million (AED 553 million) in 2024 from $160 million (AED 586 million). The revenues grew by 5% in 2024, recording $445 million (AED 1.63 billion), compared to …
Financial Results
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9 February 2025 09:27 AM CBE unveils EGP 65bn T-bills on Sunday
Cairo - Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) at a total value of EGP 65 billion through two tranches on Sunday, 9 February. The first auction was valued at EGP 30 billion and will mature in 91 days on 13 May …
Central Banks
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9 February 2025 09:24 AM Bank Albilad’s board mulls 20% capital hike
Riyadh – Mubasher: Bank Albilad announced the board’s proposal to increase its capital by granting one bonus share for every five shares, according to a bourse filing.   The lender will capitalise SAR 1.50 billion from the retained earnings ‎and …
Banking and Finance
Clean Life Company
6 February 2025 10:38 PM Clean Life’s 2024 net profit nears SAR 11.5m; board proposes 30% dividend for H2
Riyadh – Mubasher: Clean Life Company reported a 24.63% year-on-year (YoY) increase in net profit to SAR 11.47 million in 2024 compared to SAR 9.20 million. The revenue rose by 23.86% YoY to SAR 61.07 million from SAR 49.30 million, according to …
Cash Dividends
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6 February 2025 10:12 PM FAB’s profits leap to AED 17bn in 2024; dividends recommended
Abu Dhabi – Mubasher: The net profits of First Abu Dhabi Bank (FAB) increased by 4% year-on-year (YoY) to AED 17.09 billion in 2024 from AED 16.51 billion. Operating income grew by 15% to AED 31.62 billion as of 31 December 2024, compared to AED …
Financial Results
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6 February 2025 09:29 PM Egypt Gas registers 9% higher revenues in 2024; profits near EGP 291m
Cairo – Mubasher: Egypt Gas posted 70.40% year-on-year (YoY) higher net profits at EGP 290.73 million in 2024, compared to EGP 170.59 million in 2023. The revenues hit EGP 7.50 billion as of 31 December 2024, up 9.25% year-on-year (YoY) from EGP …
Financial Results
Saudi Industrial Investment Group
6 February 2025 09:13 PM SIIG generates SAR 201m net profits in 2024, quarterly profit unchanged YoY
Riyadh - Mubasher: Saudi Industrial Investment Group (SIIG) registered net profits of SAR 201 million in 2024, a 79.46% year-on-year (YoY) increase from SAR 112 million. The earnings per share (EPS) rose to SAR 0.27 in 2024 from SAR 0.15 in 2023, …
Financial Results
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6 February 2025 09:01 PM ADNOC Gas logs $4.7bn net income in 2024; dividends unveiled
Abu Dhabi – Mubasher: ADNOC Gas recorded net income amounting to $4.72 billion in 2024, marking a 6% year-on-year (YoY) from $5 billion. The revenues increased by 7% to $22.73 billion last year from $24.42 billion in 2023, according to the …
Financial Results
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6 February 2025 08:13 PM Abu Qir Fertilizers posts EGP 4.4bn standalone profits in H1-24/25
Cairo – Mubasher: Abu Qir Fertilizers logged standalone net profits after tax amounting to EGP 4.44 billion in the first half (H1) of fiscal year (FY) 2024/2025, an annual rise of 11.89% from EGP 3.98 billion. The sales hit EGP 10.24 billion as of …
Financial Results
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6 February 2025 05:03 PM Retail event 2025 RLC Global Forum concludes in Saudi Arabia
Riyadh – Mubasher: The 2025 RLC Global Forum wrapped up in Riyadh on 5 February after two days of high-level discussions, bringing together leaders from across the retail value chain, according to a press release. The event brought together …
Global Economy
Capital Markets Forum Riyadh 2025
6 February 2025 03:26 PM Riyadh to host 5th Capital Markets Forum under Powering Connections theme
Riyadh – Mubasher: Saudi Tadawul Group has announced its flagship event Capital Markets Forum (CMF) which will take place for three days in Riyadh under the theme ‘Powering Connections’, according to a press release. The event will be held under …
Companies Investments
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6 February 2025 07:33 AM Tecom Group’s profits exceed AED 1.2bn in 2024; dividends for H2-24 proposed
Dubai – Mubasher: Tecom Group witnessed 14% year-on-year (YoY) higher net profits at AED 1.22 billion in 2024, compared to AED 1.07 billion, according to the financial results. Revenues soared by 11% to AED 2.40 billion at the end of December 2024 …
Financial Results
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6 February 2025 07:22 AM RAK Properties logs nearly AED 281m profits in 2024; revenues jump 40%
Abu Dhabi – Mubasher: RAK Properties generated AED 280.91 million in net profit after tax during the January-December 2024 period, an annual surge from AED 201.81 million. Total assets increased by 24% year-on-year (YoY) to AED 8.01 billion as of …
Real estate
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6 February 2025 07:18 AM Al Ramz drives regional expansion by supporting market-making operations in Oman
Dubai – Mubasher: The Muscat Stock Exchange (MSX) granted Al Ramz Corporation Investment and Development a market maker licence to support its regional expansion strategy, according to a press release. This move anchors Al Ramz’s position as a key …
Global Economy
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6 February 2025 06:59 AM SHL Finance obtains SAR 200m facility from Emirates NBD
Riyadh – Mubasher: SHL Finance Company signed a Sharia-compliant banking facility agreement with Emirates NBD valued at SAR 200 million. The company secured the loan on 5 February to expand and increase its sales volume in line with its growth …
Banking and Finance
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6 February 2025 06:57 AM ADNIC’s Saudi expansions drives highest-ever reported insurance revenue in 2024
Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) posted higher net profits after tax at AED 419.45 million in 2024, compared to AED 401.16 million in 2023. Revenues increased by 54.60% year-on-year (YoY) to AED 7.17 billion at …
Banking and Finance
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6 February 2025 06:55 AM CBE offers T-bills worth EGP 80bn end-week
Cairo - Mubasher: The Central Bank of Egypt (CBE) offered treasury bills (T-bills) at a combined value of EGP 80 billion through two issues on Thursday, 6 February. The first issue was valued at EGP 40 billion and will mature in 182 days on 12 …
Macroeconomics
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5 February 2025 09:31 PM ACWA Power pens SAR 2.5bn agreement with SWPC
Riyadh – Mubasher: ACWA Power Company inked a water purchase agreement (WPA) with the Saudi Water Partnership Company (SWPC) at a value of SAR 2.50 billion, according to a bourse filing. The 25-year deal covers the development, construction, …
Companies Investments
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5 February 2025 08:48 PM Crédit Agricole Egypt’s consolidated profits leap 55.5% in 2024; deposits exceed EGP 95.4bn
Cairo – Mubasher: Crédit Agricole Egypt witnessed 55.43% year-on-year (YoY) higher consolidated net profits at EGP 8.03 billion in 2024, compared to EGP 5.16 billion. The EGX-listed lender reported interest income amounting to EGP 17.94 at the end …
Financial Results
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5 February 2025 08:04 PM PIF-backed Roshn inks SAR 2bn financing deal with SNB
Riyadh – Mubasher: The Saudi National Bank (SNB) inked a Sharia-compliant credit facility agreement worth SAR 2 billion with Roshn Group, a wholly-owned company by the Saudi Public Investment Fund (PIF). The group will use the loan to expand …
Banking and Finance
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5 February 2025 07:36 PM SAB to distribute 10% of capital as dividends for H2-24
Riyadh – Mubasher: The board members of Saudi Awwal Bank (SAB) proposed cash dividends valued at SAR 2.05 billion, equivalent to 10% of its capital, for the second half (H2) of 2024. SAB will pay out a dividend after Zakat of SAR 1 per share for …
Banking and Finance
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5 February 2025 07:14 PM FABMISR sees 153% higher profits in 2024
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), the business unit of UAE-based FAB operating in Egypt, recorded net profits valued at EGP 26.30 billion as of 31 December 2024. The generated net profits hiked by 153% year-on-year (YoY) when …
Financial Results
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5 February 2025 05:26 PM Sumou Real Estate secures SAR 130m loan from SAB
Riyadh – Mubasher: Sumou Real Estate Company inked a credit facilities agreement with Saudi Awwal Bank (SAB) at an amount of SAR 130 million. The financing is valid for 48 months starting from 4 February 2025, according to a bourse filing. The …
Companies Investments