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06 April 11:35 AM

Middle east news

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30 December 2024 07:03 PM BAAN to boost real estate portfolio following rebranding; capital hike unveiled
Riyadh – Mubasher: BAAN Holding Group Company, formerly known as Abdulmohsen Alhokair for Tourism and Development, secured two strategic agreements on 29 December 2024, according to a bourse disclosure. BAAN inked a SAR 178.50 million deal with Al …
Real estate
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30 December 2024 06:38 PM Nama Chemicals extends joint agreement to establish investment fund
Riyadh – Mubasher: Nama Chemicals Company inked a joint deal with Hadaj Investment Company, a subsidiary of the Saudi Industrial Export Company (SADIRAT), and FAAD Capital Partners Company. The parties agreed to extend the non-binding agreement, …
Companies Investments
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30 December 2024 06:18 PM Al Ansari Exchange collaborates with InstaShop to boost delivery payments
Dubai – Mubasher: Al Ansari Exchange, a subsidiary of Al Ansari Financial Services, recently teamed up with InstaShop to simplify the cash payment process for the latter’s delivery team, according to a press release. The strategic partnership will …
Companies Investments
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30 December 2024 05:59 PM Al Jouf Cement announces green product for NEOM projects
Riyadh – Mubasher: Al Jouf Cement Company was granted approval for its new product, Green Cement, for use in NEOM projects, according to a bourse disclosure. This comes after conducting extensive multi-development research with Asas Al Muhailb …
Companies Investments
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30 December 2024 05:14 PM Alsaif Gallery unveils SAR 97m sale deal to support growth strategy
Riyadh – Mubasher: Al Saif Stores for Development and Investment Company (Alsaif Gallery) sold a commercial building in Riyadh City at a total amount of SAR 97 million, according to a bourse filing. Located in Al Arid District, the building has an …
Companies Investments
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30 December 2024 03:16 PM Al Ansari Financial Services, Halan to drive financial inclusion in UAE
Dubai – Mubasher: Al Ansari Financial Services has entered into a strategic partnership with Halan to empower the underbanked and unbanked populations in the UAE through advanced financial solutions. The two entities will introduce Salary Advance …
Banking and Finance
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30 December 2024 02:36 PM NWC completes SAR 86m projects to boost water efficiency
Riyadh – Mubasher: The Southern Cluster of the National Water Company (NWC) started carrying out three drinking water projects with a combined investment exceeding SAR 86 million, according to the Saudi Press Agency (SPA). The projects will be …
Companies Investments
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30 December 2024 01:42 PM Shuaa Capital reinforces position in MENA’s financial market via capital optimisation plan
Dubai – Mubasher: Shuaa Capital approved Mandatory Convertible Bond (MCB) tranches with a total value of up to AED 425.50 million, according to a press release. This step boosts the DFM-listed company’s capital optimisation journey, reinforcing …
Banking and Finance
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30 December 2024 11:48 AM Saudi Re, Walaa Cooperative collaborate to back PIF’s development companies
Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) penned a reinsurance contract for surety insurance bonds coinsurance programme with Walaa Cooperative Insurance Company. The two entities inked the agreement on 29 December 2024, according to …
Companies Investments
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30 December 2024 09:53 AM CBE unveils EGP 6.5bn debt instruments
Cairo – Mubasher: The Central Bank of Egypt (CBE) offered fixed treasury bonds (T-bonds) at a combined value of EGP 5 billion through two issues on Monday, 30 December. The semi-annual tranche stood at EGP 3 billion and will mature in two years on …
Bonds
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29 December 2024 08:52 PM Alwasail announces leadership appointments
Riyadh – Mubasher: Alwasail Industrial Company has appointed Abdulrahman Abdullah Almushayqih as the Chairman of the board for a three-year term, according to a bourse disclosure. The company also named Saleh Abdullah Almushekih as the Vice …
Corporate Actions
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29 December 2024 07:46 PM Saudi Printing submits capital hike to CMA for debt owed to Alinma Bank
Riyadh – Mubasher: Saudi Printing and Packaging Company has submitted an application file to the Capital Market Authority (CMA) for approval to increase its capital through the conversion of outstanding debts owed to Alinma Bank, according to a …
Board of Directors
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29 December 2024 06:26 PM Al Battal Factory to commence trading on Nomu year-end
Riyadh – Mubasher: Al Battal Factory for Chemical Industries Company is set to begin the listing and trading of its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) on Tuesday, 31 December 2024. The Saudi firm will float 20.09% …
Trading Activities
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29 December 2024 06:07 PM Al Akaria sells 17 land plots for SAR 145m
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) sold 17 land plots with a total area of 43,290 square metres within the Al Dhahia Project, according to a bourse disclosure. The transaction was implemented through an electronic public …
Real estate
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29 December 2024 05:51 PM Altharwah Albashariyyah unveils 2 agreements to boost education, training sectors
Riyadh – Mubasher: Altharwah Albashariyyah Company has entered into a memorandum of understanding (MoU) with Dar Al Uloom University to enhance collaboration in the fields of training and talent development, according to a bourse filling. The MoU …
Companies Investments
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29 December 2024 05:49 PM ACWA Power’s Sirdarya CCGT project in Uzbekistan commences operating
Riyadh – Mubasher: ACWA Power Company received, on 26 December 2024, a notice from the Sirdarya CCGT Independent Power Project (IPP) in Uzbekistan, according to a bourse disclosure. The project company has been granted the commercial operation …
Companies Investments
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29 December 2024 05:25 PM Dubai announces Wednesday official holiday to celebrate New Year
UAE – Mubasher: The Dubai Government Human Resources (DGHR) Department has announced next Wednesday, 1 January 2025, as an official holiday in celebration of the New Year. Officials at Dubai government departments will resume work on Thursday, 2 …
Event
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29 December 2024 03:19 PM Lulu Retail launches 2 express stores in Saudi Arabia
Abu Dhabi – Mubasher: Lulu Retail Company has opened two new express stores in Makkah and Riyadh, bringing its business in Saudi Arabia to 59 stores. Located in Jabal Omar and Sahara Mall, the new stores boost Lulu’s presence in the Kingdom …
Companies Investments
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29 December 2024 03:17 PM Ajman Ruler approves emirate's AED 3.7bn budget for 2025
UAE – Mubasher: Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, has approved the Ajman Government’s 2025 general budget at a value of AED 3.70 billion. The decision aims to support the emirate's development plans and …
Macroeconomics
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29 December 2024 02:28 PM Magnati partners with Arabian Automobiles to offer payment solutions through Aani
UAE – Mubasher: Payments solutions provider in the Middle East Magnati has signed an agreement with Arabian Automobiles Company (AAC) to provide the customers with enhanced payment solutions through Aani, Al Etihad Payment’s (AEP) instant payment …
Companies Investments
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29 December 2024 00:35 PM ADES Holding awarded SAR 1bn jack-up drilling contract in Thailand
Riyadh – Mubasher: ADES Holding Company has received a letter of award (LOA) for an offshore jack-up drilling contract in the Gulf of Thailand with an estimated backlog of SAR 1.03 billion. The Saudi group was awarded the deal from PTTEP Energy …
Companies Investments
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29 December 2024 00:08 PM CBE offers EGP 55bn T-bills via 2 issues
Cairo - Mubasher: The Central Bank of Egypt (CBE) announced treasury bills (T-bills) at an aggregated value of EGP 55 billion through two offerings on Sunday, 29 December 2024. The first issue was valued at EGP 25 billion, according to official …
Treasury Bills
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29 December 2024 11:45 AM Aramco-run Wa’ed Ventures leads YNMO’s $5m funding to boost regional business
Riyadh – Mubasher: Saudi Arabia-based edtech YNMO has raised $5 million in investment, led by Wa’ed Ventures, the $500 million venture capital arm of Aramco. Qatar Development Bank (QDB) and Nour Nouf Ventures, a fund focused on impact-driven …
Companies Investments
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29 December 2024 11:08 AM Air Arabia launches 1st flight between Ras Al Khaimah, Moscow to enhance global connectivity
Dubai – Mubasher: Air Arabia has officially launched its first direct flight between Ras Al Khaimah International Airport and Moscow Domodedovo International Airport. The new route will operate three times weekly, expanding the airline’s growing …
Global Economy
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29 December 2024 09:26 AM SVC invests in Jadwa GCC private equity fund 1
Riyadh – Mubasher: Saudi Venture Capital (SVC) unveiled its investment in Jadwa GCC Private Equity Fund 1, a private equity fund managed by Jadwa Investment, according to a recent press release. The fund, which aims to raise SAR 1.50 billion with …
Companies Investments