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Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

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The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Saudi firm BinDawood eyes expansion by way of acquisition

By TRENDS Desk
February 13, 2022 8:54 pm
  • Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co
  • The potential acquisition comes in a bid to strengthen BinDawood’s position in the e-commerce sector and enhance its omnichannel presence

Future Tech Retail, a firm owned by Saudi retailer BinDawood Holding, will acquire a sixty-two percent stake in International Applications Trading Co., an e-commerce platform operator, for an unknown sum.

Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co., a bourse filing showed on Sunday.

The potential acquisition comes in a bid to strengthen BinDawood’s position in the e-commerce sector and enhance its omnichannel presence.

This is in line with the company’s long-term objectives as one of the leading grocery retail operators of hypermarkets and supermarkets in the Kingdom and is expected to have a positive impact on its financials.

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