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Gulf news

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29 June 2025 03:00 AM solutions pens over SAR 157.5m deal with stc for IT infrastructure project
Riyadh – Mubasher: Arabian Internet and Communications Services Company (solutions) and Saudi Telecom Company (stc) joined forces to build a private cloud as part of the IT infrastructure modernization and hyperscaler partnership project.The two part
Companies Investments
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29 June 2025 03:00 AM Air Arabia, Saudia announce new routes in Russia
Mubasher: Air Arabia and Saudia have expanded their operations in Russia to enhance global connectivity, according to press releases.The Emirati low-cost airline inaugurated its new route to Sochi with a frequency six weekly flights, marking the sixt
Global Economy
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29 June 2025 03:00 AM Nayifat Finance unveils SAR 0.33/shr dividends for Q4-24, Q1-25
Riyadh- Mubasher: The board of Nayifat Finance Company approved cash dividends valued at SAR 39.28 million, representing 3.30% of the company’s SAR 1.20 billion capital, for the fourth quarter (Q4) of 2024 and Q1-25.The Saudi-listed firm will distrib
Board of Directors
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29 June 2025 03:00 AM Italy’s Pronur enters Saudi Arabia to boost energy sector
Riyadh – Mubasher: Italy-based Pronur has launched its business in Saudi Arabia to advance renewable energy solutions across the Kingdom, according to a press releaseEstablished in 2021, Pronur works with major local and global entities, including ED
Companies Investments
Mohammed Saqib, Secretary-General of CHIMENA Business Council
29 June 2025 03:00 AM UAE, China launch Qingdao Overseas Integrated Service Centre
UAE – Mubasher: The UAE and China launched the Qingdao Overseas Integrated Service Centre at the China-Arab Business Forum that was recently held in Qingdao, according to a press release.Organized by the Qingdao Municipal People’s Government and Chin
Corporate Bonds
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29 June 2025 03:00 AM SAIC unveils 2 key appointments
Riyadh - Mubasher: Saudi Advanced Industries Company (SAIC) has appointed Abdullah Mohammed Al Homaidi as the board’s Chairman for the next four years.Mohammed Shbeeb Al Mutlaq was named as the Vice Chairman, according to a bourse disclosure.The two
Board of Directors
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26 June 2025 03:00 AM ADQ mulls 35% stake in France’s Limagrain Vegetable Seeds
UAE -Mubasher: Abu Dhabi-based investment and holding firm ADQ entered into exclusive discussions with Limagrain, an agricultural cooperative and international seed group, to acquire a 35% stake in Limagrain Vegetable Seeds (LVS).LVS and Silal, an AD
Mergers and Acquisitions
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26 June 2025 03:00 AM CMA greenlights Cherry Trading’s IPO on Tadawul
Riyadh – Mubasher: The Capital Market Authority (CMA) has passed the initial public offering (IPO) of Cherry Trading Company to list its shares on the Saudi Exchange (Tadawul).The company plans to float 9 million shares, accounting for 30% of its sha
Stock Evaluations
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26 June 2025 03:00 AM Deloitte Middle East, AWS unveil $1bn expansion plans to boost digital transformation
Mubasher: Deloitte Middle East and Amazon Web Services (AWS) rolled out plans to deliver $1 billion worth of services by 2030, accelerating digital transformation across the Middle East, according to a press release.Both parties will inject investmen
Global Economy
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26 June 2025 03:00 AM Sipchem unveils SAR 362.5m cash dividends for H1-25
Riyadh – Mubasher: The board of Sahara International Petrochemical Company (Sipchem) announced cash dividends worth SAR 362.56 million, equivalent to 5% of its share capital, for the first half (H1) of 2025.Sipchem will pay SAR 0.50 per share for 725
Cash Dividends
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26 June 2025 03:00 AM Dubai Investments expands AED 2.2bn Mirdif Hills with Asayel Avenue launch
Dubai – Mubasher: Dubai Investments has officially broken ground on Asayel Avenue, a new residential cluster expanding the AED 2.20 billion Mirdif Hills master development in the community of Mirdif.Established through Dubai Investment Real Estate (D
Real estate
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26 June 2025 03:00 AM AI-powered idea-L secures $1m oversubscribed pre-seed to expands business in Middle East
UAE – Mubasher: Dubai-based AI-powered platform for idea realization platform (IRP) idea-L, has closed an oversubscribed $1 million pre-seed round, according to a press release.Led by a wide syndicate of investment angels, the transaction encompasses
Global Economy
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26 June 2025 03:00 AM Tesla inaugurates 1st center in Saudi Arabia amid increasing demand for EVs
Riyadh-Mubasher: Tesla has opened its first center in Saudi Arabia to meet the Kingdom's growing demand for electric vehicles (EVs) and support its commitment to sustainable transportation.Located in Riyadh on Takhassousi Rd, the Tesla center opened
Companies Investments
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26 June 2025 03:00 AM Fakeeh Care secures SAR 938m loan from Alinma Bank for expansion plans
Riyadh-Mubasher: Dr Soliman Abdel Kader Fakeeh Hospital Company (Fakeeh Care Group) signed a Sharia-compliant credit facility agreement with Alinma Bank at a value of SAR 938 million.The financing deal, finalized on 23 June 2025, aims to support the
Companies Investments
Saudi Exchange
26 June 2025 03:00 AM Saudi Exchange unveils amendments for securities to enhance market efficiency
Riyadh – Mubasher: The Saudi Exchange (Tadawul) has amended the structure of its minimal incremental price movement bands, known as tick size bands, for both the Main and Parallel (Nomu) Market securities, excluding debt instruments.Tadawul is expand
Stock Evaluations
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26 June 2025 03:00 AM EFG Hermes leads Specialized Medical’s debut on Tadawul
Mubasher: EFG Hermes, an EFG Holding Company, closed its advisory on the $500 million initial public offering (IPO) of Specialized Medical Company (SMC), marking its third IPO in the healthcare sector over the past 12 months.The company began trading
Companies Investments
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26 June 2025 03:00 AM SISCO Holding’s RSGT to operate 4 multi-purpose terminals in Red Sea
Riyadh - Mubasher: Red Sea Gateway Terminal (RSGT), a subsidiary of Sustained Infrastructure Holding Company (SISCO Holding), signed a 20-year concession agreement for the operation of four existing multi-purpose port facilities on the Red Sea with t
Companies Investments
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25 June 2025 03:00 AM Aldar upgraded to ‘A’ rating in MSCI ESG Rating assessment
Abu Dhabi – Mubasher: Aldar Properties entered the top quartile of MSCI ESG Rating, ranking among global real estate companies after securing an upgrade to ‘A’ rating in the latest assessment, according to a press release.The rating aligns with the c
Companies Investments
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25 June 2025 03:00 AM Etihad Credit Insurance raises AED 174m for SME growth; listed banks partake
UAE – Mubasher: The UAE’s federal export credit company Etihad Credit Insurance (ECI) has secured AED 174 million in funding to support the growth of SMEs, as part of the impact of its Xport Xponential program, according to a press release.Four of EC
Delistings
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25 June 2025 03:00 AM Mashreq Bank inaugurates office in Turkey to expand global presence
Dubai – Mubasher: Mashreq Bank has opened its representative office in Turkey as a part of its commitment to supporting Turkish financial institutions and corporates.The UAE-based lender has an effective role in channeling risk capacity and capital f
Delistings
Rabih Farhat, CEO of Related
25 June 2025 03:00 AM Related secures $8m investment from Saudi Equivator to fuel MENA expansion
Mubasher: UAE-based loyalty and rewards company Related has secured an $8 million investment from Saudi premier alternative asset management firm Equivator, according to a press release.Related will use the new capital to support the launch of AI- an
Companies Investments
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25 June 2025 03:00 AM Lumi opens 1st B2B bus rental branch in Tabuk
Riyadh – Mubasher: Lumi Rental Company has launched its first bus rental branch in the North region, Tabuk, as part of its long-term strategy to reinforce the Kingdom’s mobility sector.The 1,500 sqm first-of-its-kind branch marks a major milestone in
Companies Investments
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25 June 2025 03:00 AM City Cement appoints new Chairman, Vice Chairman
Riyadh – Mubasher: City Cement Company named Badr bin Omar Al Abdullatif as the board’s Chairman for the next four years.Saleh bin Ibrahim Al Shabnan was announced as the Vice Chairman, according to a bourse disclosure.The two officials were elected
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25 June 2025 03:00 AM CMA approves Nomu listing of 2 Saudi firms
Riyadh - Mubasher: The Capital Market Authority (CMA) approved, on 23 June 2025, the registration and share offerings of two companies on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul).Jamjoom Fashion Trading Company will list 2.38 millio
Companies Investments
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25 June 2025 03:00 AM Saudi Cement to distribute 10% of capital as dividends for H1-25
Riyadh – Mubasher: Saudi Cement Company announced cash dividends amounting to SAR 153 million, representing 10% of its share capital, for the first half (H1) of 2025.Under the board’s resolution on 24 June, the Saudi firm will disburse SAR 1 per shar
Board of Directors