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7 January 2025 10:41 AM SONGWON partners with Altek to expand business in Middle East
Mubasher: SONGWON Industrial Company Limited entered into a new distribution partnership with Altek International FZE in the Middle East to meet the region’s growing demands for sustainable PVC solutions. Through its Sub Business Unit PVC, SONGWON …
Companies Investments
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7 January 2025 10:11 AM Audiomob drives regional growth via HQ in Abu Dhabi
UAE – Mubasher: Audiomob launched its MENA headquarters (HQ) in Abu Dhabi to boost regional expansion plans, according to a recent press release. In collaboration with Abu Dhabi Gaming, Audiomob allows brands and artists to connect with global …
Global Economy
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6 January 2025 11:15 PM SEDCO Capital announces SAR 23m dividends for REIT fund’s unitholders
Riyadh – Mubasher: Saudi Economic and Development Securities Company (SEDCO Capital) has announced the distribution of SAR 23.36 million as cash dividends to the unitholders of SEDCO Capital REIT Fund. An amount of SAR 0.125 per unit will be …
Cash Dividends
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6 January 2025 10:59 PM Yamama Cement signs MoU with 2 entities to establish holding company
Riyadh – Mubasher: Yamama Cement Company has penned a non-binding memorandum of understanding (MoU) with both Obeikan Investment Group and Sultan Holding Company to establish a holding company, according to a bourse filing. The new firm will focus …
Corporate Actions
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6 January 2025 09:06 PM Saudi non-oil economy finishes 2024 with strongest sales growth; PMI records 58.4
Riyadh – Mubasher: Saudi Arabia’s headline seasonally adjusted Purchasing Managers’ Index (PMI) retreated to 58.4 in December 2024 from 59 last November, according to Riyad Bank’s latest data. Non-oil businesses highlighted that strong economic …
Sector Reports
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6 January 2025 08:29 PM Qashio, Visa join forces to bolster travel payment solutions globally
UAE – Mubasher: Dubai-based fintech company Qashio has entered into a strategic partnership with Visa to launch the Visa Commercial Choice Travel programme for the first time in the region. With this innovative business-to-business (B2B) travel …
Global Economy
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6 January 2025 07:44 PM MIS awarded nearly SAR 102m deals with Saudi government
Riyadh – Mubasher: Al Moammar Information Systems Company (MIS) was awarded two project contracts from the Ministry of Health at a combined value of SAR 101.82 million, including VAT, covering 38 hospitals in Saudi Arabia. The projects focus on …
Companies Investments
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6 January 2025 07:28 PM Saudi PIF secures $7bn Murabaha credit facility
Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) completed its first Murabaha credit facility at an amount of $7 billion, according to a press release. As part of its medium-term capital-raising strategy, the financing structure was …
Banking and Finance
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6 January 2025 06:32 PM PureHealth announces Ardent’s takeover of 18 clinics to endorse US presence
Abu Dhabi – Mubasher: PureHealth Holding, a healthcare group in the Middle East, has unveiled that its associate Ardent Health strategically expanded its network by acquiring 18 urgent care clinics in the US market. The medical establishments are …
Mergers and Acquisitions
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6 January 2025 06:10 PM EMX launches 1st fleet of e-bikes to boost UAE’s green logistics strategy
UAE - Mubasher: EMX, the logistics arm of 7X, has launched its first fleet of e-bikes in line with its plans to boost the efficiency and sustainability of its delivery services across the UAE, according to a press release. This anchors EMX’s …
Companies Investments
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6 January 2025 05:50 PM UAE’s non-oil business ends 2024 with significant growth; PMI surges to 55.4%
UAE - Mubasher: The UAE’s seasonally adjusted Purchasing Managers' Index (PMI) rose for the third successive month in December to 55.4, compared to 54.2 in November 2024. The reading reflected an accelerated expansion in the non-oil private sector …
Macroeconomics
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6 January 2025 05:36 PM Oriental Weavers unveils new expansion of EGP 24m industrial plant
Cairo – Mubasher: Oriental Weavers Carpet has inaugurated the new expansion of the industrial wastewater treatment plant at the group's spinning factory, which features four consecutive treatment stages and has a capacity of 1,250 cubic metres per …
Companies Investments
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6 January 2025 05:02 PM Registration, licensing authority set up to regulate business sector in Abu Dhabi
UAE – Mubasher: The Abu Dhabi Department of Economic Development (ADDED) has launched Abu Dhabi Registration and Licensing Authority (ADRA) to further enhance and regulate the business sector across the emirate, according to a press release. The …
Law
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6 January 2025 04:27 PM Thimar pens joint deal to create SAR 100m fund
Riyadh – Mubasher: Thimar Development Holding Company signed a deal with Jiyad Al Ezz Company Limited and Rasanah Financial Company to establish an investment fund. The fund’s capital will stand at SAR 100 million, which will be offered in …
Companies Investments
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6 January 2025 01:07 PM Anaam International Holding proposes SAR 105m capital hike
Riyadh – Mubasher: The board of Anaam International Holding Group recommended increasing its capital by offering right issues valued at SAR 105 million, according to a bourse statement. The board proposed the transaction, on 5 January, to support …
Board of Directors
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6 January 2025 11:53 AM CBE auctions EGP 9.5bn T-bonds, floating-rate note
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered fixed treasury bonds (T-bonds) at a value of EGP 8 billion through one trance on Monday, 6 January 2025. The semi-annual offering will mature in three years on 7 January 2028, according to …
Central Banks
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6 January 2025 11:11 AM Arcapita, DgPays close stake acquisition deal for Mashreq's NEOPAY
Dubai – Mubasher: Mashreq, one of the MENA leading financial institutions, has completed the sale of a majority stake in NEOPAY, the UAE’s fast-growing digital payments leader. Under the agreement that was announced in September 2024, DgPays and …
Mergers and Acquisitions
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6 January 2025 10:32 AM Almujtama Alraida Medical secures SAR 45m financing deal
Riyadh – Mubasher: Almujtama Alraida Medical Company penned a credit facility agreement worth SAR 45 million with Alinma Bank on 5 January 2025, according to a bourse disclosure. The company will use the loan to finance working capital …
Companies Investments
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5 January 2025 10:09 PM TASI expected to trade between 11,300 to 13,300pts in 2025 – Report
Riyadh – Mubasher: SNB Capital, a regional financial institution, recently projected in a report that the benchmark All Share Index (TASI) of the Saudi Exchange (Tadawul) would trade between 11,300 to 13,300 points (pts) in 2025, reflecting a …
Macroeconomics
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5 January 2025 08:57 PM UAE’s GDP reaches AED 879.6bn during January-June 2024; non-oil GDP surges 4.4%
UAE – Mubasher: Abdulla bin Touq Al Marri, the UAE Minister of Economy, has asserted that the preliminary estimates of the UAE’s GDP in the first half (H1) of 2024, issued by the Federal Competitiveness and Statistics Centre (FCSC), reflect …
Macroeconomics
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5 January 2025 08:18 PM Job market in UAE likely to see rise in AI-related fields
UAE – Mubasher: The UAE is expected to witness a growing demand for highly skilled professionals as 2025 begins, particularly in the AI field, according to the Emirates News Agency (WAM). The nation’s job market has anchored its position as a …
Macroeconomics
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5 January 2025 07:31 PM Jawad Developments to deliver Val Plaza units in Q1-26
Cairo - Mubasher: Jawad Developments Company is set to deliver its units in Val Plaza Mall in the first quarter (Q1) of 2026, according to a press release. Adel Abdel Jawad, Chairman of Jawad Developments, highlighted that Val Plaza is approaching …
Companies Investments
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5 January 2025 07:10 PM Saudi Arabia’s trade surplus hits SAR 20.7bn in October 2024
Riyadh – Mubasher: Saudi Arabia achieved a trade surplus of SAR 20.76 billion in October 2024, recording a 30% monthly growth in trade balance, according to the Saudi Press Agency (SPA). This marks an increase of more than SAR 4 billion from SAR …
Sector Reports
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5 January 2025 06:03 PM Saudi inflation rises in November; crude oil production remains at 8.95mbpd – Report
Riyadh – Mubasher: Saudi Arabia’s inflation rate increased to 2% in November, while crude oil production remained at 8.95 million barrels per day (mbpd) during the month, Al Rajhi Capital cited recent data from the General Authority for Statistics …
Macroeconomics
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5 January 2025 06:00 PM Egypt among top 10 African countries attracting private-sector investments
Cairo – Mubasher: Egypt was included among the top 10 African countries leading in private sector investments, according to Business Africa. In spite of the major challenges posed by Africa's infrastructure to economic growth and development, …
Sector Reports