Search Site

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Solutions by stc to buy Giza

The deal to acquire the company will be concluded by the end of Q4. (Waya Media)
  • The company had entered a binding deal for the takeover of the stake in Giza Systems in addition to 34 percent of its unit, Giza Arabia
  • The transaction is expected to be completed by the fourth quarter of 2022

Solutions by stc, also known as Arabian Internet and Telecommunication Co., has obtained an approval from Saudi Arabia’s General Authority For Competition to buy a $158 million stake in Egypt’s Giza Systems Co., a bourse filing revealed.

The Saudi-listed company had earlier entered a binding deal for the takeover of an 89.49 percent stake in Giza Systems in addition to 34 percent of its unit, Giza Arabia.

Subject to other regulatory conditions, solutions by stc said the transaction is expected to be completed by the fourth quarter of 2022, adding that any developments will be announced in due course.