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7 April 2025 03:00 AM 2P Perfect Presentation increases, renews SAR 150m facility deal with Bank Aljazira
Riyadh – Mubasher: Perfect Presentation for Commercial Services Company (2P Perfect Presentation) raised and renewed a facility agreement valued at SAR 150 million with  Bank Aljazira.The loan is valid from April 2025 till 22 January 2026, according
Delistings
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6 April 2025 05:46 PM Emaar The Economic City submits capital hike file to CMA
Riyadh – Mubasher: The board members of Emaar The Economic City (EEC) applied to the Capital Market Authority (CMA) to increase its capital through debt conversion, according to a bourse filing. The transaction will be implemented through …
Mergers and Acquisitions
Photo Archive
6 April 2025 05:40 PM Prices of investment funds including certificates in EGP, USD – Updated
Cairo – Mubasher: According to updated data, Mubasher is featuring mutual funds along with relevant prices based on the latest closing. Below you can find the names of Investment Funds as well as the price of each certificate in EGP, except for …
Banking and Finance
Photo Archive
6 April 2025 04:52 PM ADES Holding enters Brazilian market via SAR 319m agreement
Riyadh – Mubasher: ADES Holding Company has entered a charter agreement for its premium jackup rig, Admarine 511, with Constellation Oil Services Holding to execute a contract for Petrobras in Brazil. This agreement marks the Saudi group’s entry …
Companies Investments
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6 April 2025 00:34 PM Elm secures SAR 1.9bn loan from SNB
Riyadh – Mubasher: Elm Company penned a Shariah-aligned facility agreement valued at SAR 1.90 billion with The Saudi National Bank (SNB) on 27 March 2025. The Saudi company aims to finance corporate expansion and acquisitions, according to a …
Companies Investments
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6 April 2025 11:24 AM Entaj’s board mulls SAR 15m cash dividends for 2024
Riyadh – Mubasher: The board of Arabian Company for Agricultural and Industrial Investment (Entaj) recommended cash dividends valued at SAR 15 million for 2024. Entaj will pay out a dividend of SAR 0.50 per share, representing 5% of the share’s …
Board of Directors
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6 April 2025 10:22 AM Al Arabia, Multiply Group to derive global expansion in advertising sector
Mubasher: Arabian Contracting Services Company (Al Arabia) and Multiply Group's media vertical teamed up to create a joint venture (JV) to invest in the global out-of-home (OOH) advertising sector. The 90-day memorandum of understanding (MoU) will …
Companies Investments
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3 April 2025 10:42 PM Al Ansari Exchange closely monitoring global currency markets amid new US tariffs
Dubai – Mubasher: Al Ansari Exchange, the subsidiary of Al Ansari Financial Services, stated that it is closely monitoring global currency markets following the recent US tariff announcements by President Donald Trump, according to a press …
Trade
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3 April 2025 03:45 PM Prices of investment funds including certificates in EGP, USD – Updated
Cairo – Mubasher: According to updated data, Mubasher is featuring mutual funds along with relevant prices based on the latest closing. Below you can find the names of Investment Funds as well as the price of each certificate in EGP, except for …
Companies Investments
Photo Archive
2 April 2025 08:09 PM SHL Finance renews SAR 1.91bn Sharia-compliant deal with ANB
Riyadh – Mubasher: SHL Finance Company has renewed its SAR 1.91 billion Sharia-compliant credit facilities agreement with Arab National Bank (ANB) for five years, according to a bourse disclosure. The funding, which was obtained on 23 March 2025, …
Banking and Finance
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2 April 2025 07:15 PM Uber, WeRide partner with RTA to bring autonomous vehicles to Dubai
UAE – Mubasher: Uber Technologies and WeRide have teamed up with Dubai’s Road and Transport Authority (RTA) for autonomous vehicles (AVs), yet more details on the launch and next steps for the AVs pilot in Dubai will be announced in the coming …
Global Economy
Photo Archive
2 April 2025 06:52 PM Ayan Capital secures up to GBP 25m financing, aims to become UK leader in Islamic banking
Mubasher: Ayan Capital, a fast-growing provider of halal vehicle financing, has raised up to GBP 25 million in Sharia-compliant financing facility from institutional debt provider Partners for Growth (PFG). The investment reflects the rising …
Companies Investments
Saudia
2 April 2025 06:08 PM Saudia launches flights to Athens, to introduce new departure airport in June
Riyadh – Mubasher: Saudi Arabia’s national flag carrier Saudia has launched seasonal flights to Athens in Greece from Riyadh, according to a press release. The inaugural flight, SV195, took off from King Khalid International Airport on 2 April …
Companies Investments
EDGNEX by DAMAC
2 April 2025 04:14 PM EDGNEX by DAMAC acquires Finland’s Hyperco in step with driving success in region
UAE – Mubasher: EDGNEX Data Centers by DAMAC unveiled the takeover of Finland-founded data centre company, Hyperco. The acquisition contributes to the region's evolving data center landscape, creating new jobs and promoting economic development, …
Global Economy
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1 April 2025 09:51 PM Global firm EXP announces partnership with oil-focused Al Suwaiket
Riyadh – Mubasher: EXP, a global engineering, architecture, design and consulting firm has teamed with Al Suwaiket Group, a leader in supplying products and services to the oil and gas industry, for projects in Saudi Arabia. The EXP Al Suwaiket …
Companies Investments
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1 April 2025 09:26 PM Chemanol incurs 53% higher net losses in 2024
Riyadh – Mubasher: Methanol Chemicals Company (Chemanol) suffered net losses worth SAR 272.30 million in 2024. The negative results marked a 53.15% annual increase compared to SAR 177.80 million in 2023, according to the financial results. The …
Financial Results
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1 April 2025 08:35 PM Takween announces 66% decline in 2024 net losses, 39% of capital accumulated losses
Riyadh – Mubasher: The net losses of Takween Advanced Industries Company shrank by 66.04% to SAR 75.83 million in 2024 compared to SAR 223.33 million in 2023. The loss per share decreased to SAR 1.05 in 2024 from SAR 4.09 a year earlier, according …
Financial Results
Ras El-Hekma
1 April 2025 05:09 PM Modon collaborates with Elsewedy Industrial Development for Egypt’s Ras El-Hekma
Abu Dhabi – Mubasher: The UAE’s Modon Holding has teamed up with Elsewedy Industrial Development to build and operate a new industrial zone for the Ras El-Hekma city megaproject in Egypt, according to a press release. The two companies signed a …
Companies Investments
JINGDONG Logistics
1 April 2025 03:40 PM JINGDONG Logistics expands operations in MENA
Mubasher: JINGDONG Logistics, also known as JD Logistics, has expanded its presence in the Middle East with five warehouses and beyond in parts of North Africa, according to a press release. The Chinese supply chain management company established …
Companies Investments
Social Development Bank
31 March 2025 07:25 PM Social Development Bank announces SAR 1.7bn total financing in Q1-25
Riyadh – Mubasher: The Social Development Bank (SDB) registered total financing of more than SAR 1.70 billion during the first quarter (Q1) of 2025, benefiting more than 20,000 citizens and enterprises. Meanwhile, the total financing for …
Banking and Finance
Mitsubishi Power
31 March 2025 06:37 PM Mitsubishi Power to supply gas turbines for projects in Saudi Arabia
Riyadh – Mubasher: Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries (MHI), recently received two major supply orders for the Rumah-1 and Al-Nairyah-1 Independent Power Plant (IPP) projects in Saudi Arabia, according to a …
Companies Investments
Photo Archive
31 March 2025 03:42 PM Region-focused Reynaers Middle East completes iconic project in Iraq
Mubasher: International aluminium solutions provider Reynaers Middle East has successfully completed the World Heart Hotel and Mall in Iraq, according to a press release. The project, which is located in Baghdad, features panoramic design that …
Global Economy
Bitpanda
30 March 2025 06:54 PM Bitpanda obtains VARA licence as beginning of expansion beyond Europe
UAE – Mubasher: Bitpanda, a virtual assets platform, has secured a Broker-Dealer licence from the Dubai Virtual Assets Regulatory Authority (VARA), obtaining approval in record time. This step marks the beginning of the company’s expansion beyond …
Global Economy
Agility Global
30 March 2025 05:37 PM Agility Global generates $4.5bn revenue, $128m earnings in 2024; dividends unveiled
Abu Dhabi – Mubasher: Agility Global, a multi-business owner and operator with a global footprint in more than 70 countries, announced net profits worth $128 million, representing 1.25% per share, registered in 2024. The revenue increased by …
Cash Dividends
The Arab Energy Fund
30 March 2025 03:27 PM Arab Energy Fund records highest-ever net income amid $10.9bn total assets in 2024
Mubasher: The Arab Energy Fund, formerly known as APICORP, achieved a record performance in 2024 with the highest-ever net income that was driven by strong asset growth across all business lines, increased efficiencies, and a favourable interest …
Global Economy