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The collaboration is the first of its kind in Saudi Arabia in the Fintech field
6 July 01:05 PM stc pay, Visa team up to boost e-payments
Riyadh - Mubasher: stc pay and Visa International have signed a strategic partnership agreement to provide financial services and digital payment solutions to stc pay customers. The collaboration is the first of its kind in Saudi Arabia in the …
Tihama to take legal actions against those who falsify its reputation
6 July 12:21 PM Tihama denies false news on capital hike
Riyadh – Mubasher: Tihama Advertising and Public Relations Company has issued a disclaimer denying false news circulating on social media platforms regarding the company's potential capital increase process. The firm has advised shareholders to …
Aramco raised August prices to all markets
6 July 11:04 AM Saudi Aramco raises August oil prices
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has raised the August official selling prices (OSP) for its Arab light crude oil sold to all markets, Reuters reported on Monday. The oil giant set the August OSP for Asian customers …
The issuance will target experienced investors residing in Saudi Arabia
6 July 10:25 AM SABB announces 1st local Sukuk issuance
Riyadh -Mubasher: The Saudi British Bank (SABB) announced on Monday the first offering of Tier II SAR denominated Sukuk for private placement under its newly-established local Sukuk programme. The issuance size shall be determined as per market …
The proposed dividends represents 10% of the share’s par value
5 July 05:01 PM MIS plans SAR 20m dividends for H1-20
Riyadh – Mubasher: The Board of Directors of Al Moammar Information Systems (MIS) Company recommended a cash dividend distribution of SAR 1 per share to shareholders for the first half (H1) of 2020. The total dividend value amounts to SAR 20 …
The Mobily Fiber Services packages provide speeds up to 500 Mbps
5 July 03:23 PM Mobily Fiber Services now accessible on all fixed networks
Riyadh – Mubasher: Etihad Etisalat Company (Mobily) has started providing Mobily Fiber services through an agreement to open broadband, allowing it to offer fixed and fibre optic broadband services to 3.5 million homes. The broadband services for …
stc’s 5G network currently covers over 90% of the populated areas in Kuwait
5 July 03:00 PM stc takes part in 5G MENA virtual conference
Mubasher: Kuwait Telecommunications Company (stc) said, during the 5G MENA virtual conference, that the Kuwaiti telecom market is a highly challenging and evolving with growing demand, from both individuals and corporates, for 5G services and …
The remaining shares total 2.495 million shares
5 July 11:16 AM Allianz SF rights issue 93.8% subscribed
Riyadh -Mubasher: Allianz Saudi Fransi Cooperative Insurance Company (Allianz SF) announced that a total of 37.5 million shares of the newly offered shares have been subscribed at a value of SAR 375.04 million. The company’s rights issue was …
The offering aims to meet SABB’s financial and strategic needs
5 July 10:42 AM SABB sets up local Sukuk programme
Riyadh -Mubasher: The Saudi British Bank (SABB) intends to update and amend its previously established international Sukuk programme and set up a local Sukuk programme. Through the two Sukuk programmes, SABB will issue and offer senior …
The MoU was signed on 2 July
5 July 10:06 AM Zain KSA, Mobily to raise participation in telecom towers
Riyadh - Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain KSA) has signed a Memorandum of Understanding (MoU) with Etihad Etisalat Company (Mobily) to form a joint committee from both parties. The committee will prepare and offer a …
The company seeks to work in a more convenient atmosphere
5 July 10:05 AM Orient Insurance postpones launching in Saudi Arabia to 2022
Dubai - Mubasher: Orient Insurance Co will delay launching its business in Saudi Arabia to the middle of 2022 due to the coronavirus (COVID-19) economic impact and subsequent travel restrictions. The company was expected to start its branch …
The H1-20 net profits stood at SAR 643.9 million
5 July 09:20 AM Almarai sees 10.5% higher earnings in H1-20
Riyadh – Mubasher: Almarai Company on Sunday reported SAR 643.9 million in net profits after Zakat and tax during the first half (H1) ended on 30 June 2020, up by 10.54% when compared to SAR 582.5 million in the same period in 2019, as shown in …
Individual investors can subscribe to a maximum of one million shares
2 July 09:42 AM Amlak International’s IPO retail subscription begins today
Riyadh - Mubasher: The retail subscription period for 2.718 million shares offered by Amlak International for Real Estate Finance through an initial public offering (IPO) at a share price of SAR 16 will kick off on Thursday, 2 July, said NCB …
The pre-settlement process was finalised on 30 June
1 July 12:03 PM Najran Cement prepays Banque Saudi Fransi's SAR 45m loan
Riyadh – Mubasher: Najran Cement Company has fully prepaid the remaining amount of a SAR 45 million existing loan received from Banque Saudi Fransi (BSF) to finance the company's Waste Heat Recovery (WHR) project. The credit facility was supposed …
The purchase will be financed through Bupa's own funds
1 July 11:11 AM Bupa Arabia greenlights SAR 14m share buyback
Riyadh - Mubasher: The extraordinary general meeting (EGM) of Bupa Arabia for Cooperative Insurance Company approved the buyback of a maximum of 220,000 shares at a value of SAR 14.27 million. The new shares will be allocated to the insurer’s …
The price for Octane 91 has been set at SAR 0.98 per litre
1 July 10:45 AM Saudi Aramco adjusts fuel prices after latest VAT hike
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has adjusted the local fuel prices after the decision to increase the value-added tax (VAT) to 15% came into effect on Wednesday.     The oil giant has set the prices for the Octane …
The dividend amount represents 10% of the company’s capital
1 July 10:12 AM Sumou Real Estate nods to SAR 25m dividends for FY19
Riyadh – Mubasher: The ordinary general meeting (OGM) of Sumou Real Estate Company consented to distribute cash dividends worth SAR 25 million to shareholders for fiscal year (FY) ending on 31 December 2019. The dividend amount, equivalent to SAR …
Board members will receive a remuneration of SAR 1.2 million for 2019
1 July 09:20 AM Arabian Shield cancels 2019 dividends
Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company’s ordinary general meeting (OGM) decided not to distribute dividends for fiscal year (FY) 2019 following a recommendation from the company’s board of directors. It also discharged the …
The deal is effective for 10 years - (Photo Archive)
30 June 01:50 PM NCLE’s unit inks building lease contract for SAR 64m
Riyadh – Mubasher: Al-Ghad National Schools Company, a 100% owned subsidiary of the National Company for Learning and Education (NCLE), has signed a lease agreement with Roboua’ Altaleem Real Estate Company for an educational complex in Riyadh. …
The capital cut will offset the company's accumulated losses
30 June 11:50 AM Saudi Amiantit submits capital cut request to CMA
Riyadh - Mubasher: Saudi Arabian Amiantit Company has submitted two requests to the Capital Market Authority (CMA) for a capital reduction and increase. The company wants to cut the capital by SAR 144.51 million before increasing it via a rights …
The renewal is effective from next month
30 June 10:34 AM Bupa Arabia renews cooperative insurance deal with SABIC
Riyadh - Mubasher: Bupa Arabia for Cooperative Insurance Company received a confirmation from the Saudi Basic Industries Corporation (SABIC) to renew its cooperative insurance services contract for one year effective as of 4 July 2020. The insurer …
Board members will obtain a remuneration worth SAR 1.4 million for 2019
30 June 10:15 AM Saudi German Hospital withholds 2019 dividends
Riyadh – Mubasher: The Middle East Healthcare Company’s (Saudi German Hospital) general assembly has decided to cancel the fiscal year (FY) 2019 dividends following a recommendation from the company’s Board of Directors. It further discharged the …
The decision will support the company’s financial position
30 June 09:56 AM Walaa Cooperative cancels 2019 dividends
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Walaa Cooperative Insurance Company approved withholding dividends for fiscal year (FY) ending on 31 December 2019 during its meeting on Monday.  The decision aims to strengthen the …
Dallah’s now owns 86.1% of Makkah Medical capital
30 June 09:29 AM Dallah buys SAR 161m stake in Makkah Medical
Riyadh – Mubasher: Dallah Healthcare Company (DHC) has signed a final purchase agreement on 29 June with Makkah Medical Center Company to buy 78.59% of its capital or 2.389 million shares for SAR 161.1 million. Dallah’s new ownership in Makkah …
The financing period extends over 270 days
29 June 04:58 PM MESC inks SAR 50m deal with Saudi finance ministry
Riyadh – Mubasher: The Middle East Specialised Cables Company (MESC) has signed a financing contract worth SAR 50 million with the Saudi Ministry of Finance (MoF) to finance the company’s working capital. The financing period extends over 270 …