Top News

Mubasher: The Gulf Cooperation Council (GCC) is negotiating a free trade agreement (FTA) with the UK that could be signed by the end of 2024. The bloc’s Secretary-General Jasem Albudaiwi held a meeting with UK Trade Minister Jonathan Reynolds in …

Riyadh – Mubasher: Dell Technologies, Saudi Arabian Oil Company (Aramco), and the National IT Academy have signed an agreement to upskill Saudi students in science and technology. The four-month ITXcelerate programme will provide recent Saudi …

Riyadh – Mubasher: Leejam Sports Company has announced changing its name on the Saudi Exchange (Tadawul) from Fitness Time to Leejam Sports. The decision aims to align the company’s name with its vision of being the leader in the sports and …

Riyadh – Mubasher: The Arabian Spring and Foam Mattresses Manufacturing Company (Sleep High), an Egypt-based subsidiary of Saudi Industrial Development Company (SIDC), opened its first branch in the City Stars Center Through the branch in Nasr …

Riyadh – Mubasher: ADES Holding, an international drilling services provider, has secured a long-term contract extension for the Admarine 657 jackup rig in Saudi Arabia. With a duration of 10 years, the new contract is expected to immediately …

Riyadh – Mubasher: Jarir Marketing Company (Jarir Bookstores) witnessed a 3.24% year-on-year (YoY) decline in net profit to SAR 390.40 million in the first half (H1) of 2024, compared to SAR 403.50 million. Estimated revenues hit SAR 5.29 billion …

Riyadh – Mubasher: Arabian Contracting Services Company (Al Arabia) established a special purpose company Alarabia Alliances for Smart Advertisement, according to a bourse disclosure. The limited liability company was created in partnership with …

Riyadh – Mubasher: Stride Ventures, a global venture debt firm from India, marked a key milestone in its international strategy by announcing its first $1 million venture debt investment in Maalexi as part of a broader GCC commitment. The funding …

Riyadh - Mubasher: Aramco Digital, a subsidiary of Saudi Arabian Oil Company (Saudi Aramco), and World Wide Technology (WWT) have partnered to boost the digital transformation in Saudi Arabia and empower its economy to leverage innovative …

Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) has announced the completion of all procedures to conclude selling its entire 49.90% equity in the UK-based Probitas Holdings (Bermuda) Limited (PHBL) and its subsidiaries. Saudi Re exited …

Riyadh – Mubasher: Shatirah House Restaurant Company (Burgerizzr) has appointed Mohammed bin Ali Al Ruwaigh as the Chairman of the board for the coming four years. Sami bin Mohammed Obaid has been named as the Vice Chairman for the same board …

Riyadh – Mubasher: Prefect presentation for commercial services Company (2P Prefect Presentation) has signed a Sharia-aligned increase facility agreement with Riyad Bank on 10 July 2024. The facility agreement holds a value of SAR 121 million …

Mubasher: Servme, the leading reservation and guest CRM platform for restaurants and hospitality operators, had entered into a partnership with MyFatoorah, a leading payments platform, to boost payment adoption for restaurants across the Middle …

Riyadh – Mubasher: Saudi Arabia ranked first in MENA in terms of the value of venture capital (VC) investments during the first half (H1) of 2024, attracting $412 million, down 7% year-on-year (YoY), according to a report by MAGNiTT. Around 32% of …

Riyadh – Mubasher: Elm Company has signed an agreement with the Ministry of Interior and the Saudi Data and AI Authority (SDAIA) to develop and provide products and services. Signed on 9 July 2024, the agreement has a duration of 10 years starting …

Mubasher: The GCC saw a notable decline in project awards during the second quarter (Q2) of 2024, with total awards dropping by 19.70% year-on-year (YoY) to $51.70 billion from $64.30 billion in the same period last year. This downturn was …

Riyadh – Mubasher: The shareholders of Ayyan Investment Company approved a 24.80% capital raise to SAR 1 billion from SAR 806.36 million, according to a bourse disclosure. After implementing the transaction, the number of shares will stand at …

Riyadh – Mubasher: Abdullah Al Othaim Markets Company inked a SAR 331.53 million contract with the General Organization for Social Insurance to lease land in Dammam, according to a bourse filing. The deal, which was signed on 8 July 202, covers …

Riyadh – Mubasher: Customer support solution provider MyAlice has launched its first headquarters in Riyadh, expanding operation in Saudi Arabia, in cooperation with AstroLabs. MyAlice seeks to enlarge its presence in Saudi Arabia by supporting …

Riyadh – Mubasher: Saudi Home Loans Company (SHL) renewed a Sharia-compliant credit facilities agreement with Arab National Bank (ANB) at an amount of SAR 2.05 billion. The facility will be used to expand and increase the sales volume in line with …

Riyadh – Mubasher: Najm for Insurance Services Company (Najm) has announced a new telematics initiative to improve road safety in Saudi Arabia. The initiative is powered by advanced mobility analytics technologies, and encourages safer driving …

Riyadh – Mubasher: Armah Sports Company penned a land lease contract to develop and operate two fitness clubs as well as commercial and office spaces in Al Wadi District, according to a bourse filing. Under the brand OPTIMO, the clubs will be …

Riyadh – Mubasher: Middle East Pharmaceutical Industries Company (Avalon Pharma) secured a Sharia facility amounting to SAR 70 million from Emirates NBD on 8 July 2024. The Saudi company obtained the loan for one year to finance its operations, …