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29 minutes ago RiseUp Summit in Egypt postponed to 2023
Cairo – Mubasher: RiseUp Summit will be held in Egypt during March 2023, instead of this year, according to a press release. The 2022 event was scheduled to be held during 8-10 December in Cairo, however, the RiseUp team stated: “We are confident …
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5 hours ago Morni invests $10m in Egypt to acquire mobility startups
Cairo – Mubasher: Saudi Arabia-based mobility solutions platform Morni is planning to invest $10 million to target new acquisitions in Egypt in the mobility space through Exists.me, an acquisition and mergers (M&A) advisory firm.  The new buy-side …
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6 December 05:33 PM Fintactics launches new ventures, enters partnerships during Saudi Arabia’s World Fintech Show
Riyadh – Mubasher: The World Fintech Show has witnessed the launch of new ventures Holoul and Leza'am by Fintactics, which also signed partnership agreements with Aion Digital and Bitfy Holdings. The event, which kicked off on 5 December in …
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6 December 04:36 PM Seedstars to develop VC managers in emerging markets
Mubasher: Switzerland-based Seedstars has launched its investment arm Seedstars Capital for emerging venture capital (VC) fund managers across the Middle East and other emerging markets with the support of xMultiplied, a Swiss-based investment …
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6 December 04:16 PM Saudi TDF inks financing deal for development project in Asir
Riyadh - Mubasher: Saudi Tourism Development Fund (TDF) has inked a financing agreement with Nama Alamal to develop a five-star hotel managed by IHG Group. To be established under the Intercontinental brand, the scheme includes 163 hotel units …
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6 December 03:43 PM TASI closes Tuesday up; NomuC ends session lower
Riyadh – Mubasher: The benchmark All Share Index (TASI) of the Saudi Exchange (Tadawul) gained 25.12 points (0.24%) on Tuesday and ended the trading session on a positive note at 10,444.27 points. TASI's turnover reached SAR 4.96 billion through …
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6 December 03:29 PM OneOrder raises $3m seed round; total investment tops $10m
Cairo – Mubasher: Egypt-based B2B marketplace connecting restaurants to suppliers, OneOrder, announced closing a $3 million seed round led by Nclude as well as returning investor A15. This brings the company’s total investment to $10.50 million. …
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6 December 02:13 PM Saudi Arabia’s PMI jumps to 58.5 in November
Riyadh – Mubasher: Saudi Arabia’s headline seasonally adjusted Purchasing Managers’ Index (PMI) increased for the second month in a row during November 2022 to 58.5 from 57.2 last October, according to Riyad Bank’s data. The PMI, which was above …
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6 December 12:54 PM Saudi Arabia cuts January oil prices to Asia to 10-month low
Riyadh – Mubasher: Saudi Arabia cut the January 2023 official selling price (OSP) for its flagship Arab Light crude for Asian buyers to a 10-month low, on concerns over a drop in demand and a potential increase in Russian competition. The Saudi …
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6 December 12:42 PM CMA greenlights Nomu listing of 3 companies
Riyadh – Mubasher: The Capital Market Authority (CMA) passed the requests of Omran Najd Industries Company, Ghida Alsultan for Fast Food Company, and Meyar Company to trade on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul). Each one of …
Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank
5 December 05:38 PM Mobile apps see over $2.7 daily transactions – World Bank’s Abu Sulaiman
Riyadh – Mubasher: Issam Abu Sulaiman, Regional Director for the GCC countries at the World Bank, stated that transactions worth more than $2.70 billion are being traded on a daily basis through mobile applications. Abu Sulaiman highlighted that …
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5 December 05:15 PM Saudi Arabia launches initiative to stimulate investment in local industrial sector
Riyadh – Mubasher: Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Al Khorayef, announced launching an initiative to encourage the local industry with the aim of stimulating investment in the industrial sector and increasing …
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5 December 04:57 PM Riyadh Chamber of Commerce contributed to building over 40 fintech startups – Official
Riyadh – Mubasher: Riyadh Chamber of Commerce has been part of setting up more than 40 startups in the financial technology (fintech) sector since 2016 until the present time, said Mansour Al Obaid, who serves as the Chairman of Information and …
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5 December 04:12 PM Tadawul closes Monday in red amid all-sector decline
Riyadh – Mubasher: The benchmark All Share Index (TASI) of the Saudi Exchange (Tadawul) fell by 304.80 points (2.84%) on Monday and closed the trading session at 10,419.15 points. A total of 116.63 million shares were exchanged at a value of SAR …
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5 December 04:07 PM World Fintech Show kicks off in Saudi Arabia
Riyadh – Mubasher: The World Fintech Show has launched today, 5 December, in Saudi Arabia’s capital Riyadh at InterContinental Riyadh.   The event aims to connect the world’s fintech innovators with enterprises, investors, policymakers, startups, …
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5 December 02:34 PM SIIG to disburse 7.5% of capital as dividends for H2-22
Riyadh – Mubasher: The board of Saudi Industrial Investment Group (SIIG) decided to pay out cash dividends worth SAR 566.10 million, representing 7.50% of the capital, for the second half (H2) of 2022. The firm will distribute SAR 0.75 per share …
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5 December 02:23 PM Alsaif Gallery unveils final price for IPO on Tadawul
Riyadh – Mubasher: Al Saif Stores for Development and Investment Company (Alsaif Gallery) set the final price for its initial public offering (IPO) at SAR 115 per share to trade on the Main Market of the Saudi Exchange (Tadawul). Saudi Fransi …
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5 December 01:27 PM Future Minerals Forum enters new partnerships for 2nd edition
Riyadh – Mubasher: The Future Minerals Forum (FMF) unveiled new partnerships with think tank entities and research institutions as part of its preparations to host the second edition of the forum next year in Riyadh. The collaboration will be with …
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4 December 05:46 PM solutions pens SAR 373m deals with stc
Riyadh – Mubasher: Arabian Internet and Telecommunication Services Company (solutions) and Saudi Telecom Company (stc) inked contracts at a combined value of SAR 372.92 million on 1 December 2022. Under the 36-month agreements, solutions will …
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4 December 04:06 PM Saudi NWC starts implementing water projects worth over SAR 4.3bn
Riyadh – Mubasher: Saudi Arabia's National Water Company (NWC) has commenced the implementation of desalinated water distribution system projects in the cities of Dammam, Khobar, Ahsa, and Qatif. The SAR 4.30 billion projects will supply these …
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4 December 03:55 PM Tadawul closes Sunday with varied performance
Riyadh – Mubasher: The benchmark All Share Index (TASI) of the Saudi Exchange (Tadawul) ended Sunday's trading session lower by 98.70 points (0.91%) at 10,723.95 points. A total of 85.62 million shares were exchanged at a value of SAR 2.90 …
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4 December 03:39 PM CMA greenlights Amiantit’s SAR 346.5m capital raise
Riyadh – Mubasher: The Capital Market Authority (CMA) has approved Saudi Arabian Amiantit Company’s request to increase its capital through a rights issue worth SAR 346.50 million. Subject to the shareholders’ approval and other regulatory …
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4 December 02:47 PM Aramco's Luberef unveils price range for IPO on Tadawul
Riyadh – Mubasher: Saudi Aramco Base Oil Company (Luberef) set the price range for its initial public offering (IPO) on the Main Market of the Saudi Exchange (Tadawul) at SAR 91-99 per share. Luberef plans to list 50.04 million shares, …
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4 December 01:55 PM Leen Alkhair announces price range for Nomu offering
Riyadh - Mubasher: Leen Alkhair Trading Company set the price of its offering on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) at a range of SAR 65-69 per share. The Saudi firm plans to trade 958,750 ordinary shares, accounting for …
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4 December 01:44 PM CMA nods to Rassanah Morabaha Fund’s public offering
Riyadh – Mubasher: The Capital Market Authority (CMA) has approved the public offering of the Rassanah Morabaha Fund by Rasana Capital, according to a bourse filing. It is worth noting that Rasana Capital is a Riyadh-based investment management …