Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al Ijara, has been oversubscribed by 186%. Subscriptions worth $128.67 million were received for the $69.14 million issue, which carries maturity of 182 days. The expected return on the issue, which...
BinDawood’s H1 profit tumbles
Largest Saudi retailer posts a 31% dip in H1 profit to $28.80m.
Al Akaria posts profit in H1
The developer's profit rose to $4.3m, after last year's loss.
Sumou signs $144m deal
The Saudi real estate firm will build 507 villas in Madinah.
Saudi Fisheries posts losses
The news of the loss of $6.4m in H1 led to a slide in firm's stock.
Emaar to sell Namshi to Noon
The Dubai developer will sell its online retailer for $335.2m.
Jordan and Algeria agree to boost trade, investment ties
Many Jordanian industrial sectors have the necessary requirements to enter the Algerian market, especially the pharmaceutical components, clothing, chemical and fertilizer industries, as well as the plastic, rubber and metal industries.
Women blaze a new trail in Egypt
In a country where few women have formal jobs, the Cairo metro’s pioneering decision to hand over the controls of trains to women has invoked mixed reactions in commuters.
QFB completes rights issue
It issued 420,000,000 shares in order to raise capital of $307m.
Syria denies having US journalist Austin Tice in custody
Denying holding the American nationals captive, including journalist Austin Tice, the Syrian government has responded to US President Jo Biden's assertion that he knew 'with certainty' that Tice was being held by the Syrian regime, calling on Damascus to help bring him home.
Dallah reports 52% profit rise
The healthcare company saw its profit vault to $40m in H1.
Qassim Cement’s profit tumbles
The Saudi firm posted a 73% fall in profit to $14m in H1.
Solutions by stc to buy Giza
The 89.49% stake in Giza Systems will cost it $158m.Halwani Bros’ profit falls by 65%
The profit fell to $5m in HI due to rising cost of raw materials.
NADEC records $11m profit
The jump in profit was driven by growth in sales of dairy.Saudi Electricity borrows $568m
The money will be used to fund Egypt interconnection project.
Savola sells KEC stake for $122m
Savola wants to focus on core food and retail businesses.
Dana Gas posts $110m profit
The better results were driven by high hydrocarbon prices.SAMI revenue vaults to $605m
The Saudi firm says weapons business fueled growth.
SAR passenger numbers rise
More than 2.3m passengers used Saudi Railways in H1.Barwa records rise in profit
The net profit posted 0.73% jump to $147.25m in H1.
QAMCO profit rises by 112%
The company's net profit rose to $164 million in H1 of 2022.
Sulaiman Group’s profit soars
The hospital operator's profit jumps to $210m in H1 of 2022
Union Properties’ profit rises
The Dubai-based firm posted net profit of $77,603 in Q2.
Bupa Arabia’s profit dips by 16%
Its stock fell after it posted a drop in profit to $114m in H1.
Lufthansa posts $263m profit
In 2020 a government bailout saved airline from bankruptcy.Swvl drops plan to buy Zeelo
The agreement was broken off due to a market downturn.SAMA approves merger of SABB Takaful and Walaa Insurance
Saudi Central Bank has approved the merger of SABB Takaful with the rival insurer Walaa Insurance, following an agreement between the two groups in February.Dubai closes in on top spot for sea trade
The city, with a rich history of trading with the world through sea, looks to emerge as one of the top maritime cities of the world with a new bout of investments in infrastructure.
Al Zamil buys tower for $133m
The saudi developer bought the residential tower in Makkah.
SAIB shares vault more than 2%
The stock rose after it declared cash dividends of $80 million.EITC posts 26% jump in profit
The net profit rose to $82.5 million for the second quarter.Saudi VC investments post 244% jump to $584m in H1
Venture capital investments in Saudi Arabia have posted a staggering 244 percent increase to $584 million in the first half of 2022.
Jordan tourism sector rides high on back of 1.9m visitors to kingdom
The tourism sector of the Jordanian economy has seen a huge growth, with more than 1.9 million visitors arriving in the kingdom during the first six months of the current year Tourism Minister Nayef Al-Fayez described the situation as reassuring. He said the return of expatriates was an important component...Jarir reports drop in H1 profit
The profit declined to $114m with its stock sliding too.Creator economy rides on NFTs for growth, expansion
Blockchain technology has put creators at the center and allows them to capture and distribute their value efficiently, safely and quickly, says MILLION COO Franck Mandon.
Innovest of KSA exits Misk Tarout
The Saudi firm earned $8m in profit in the last three months.
Arabian Plastic to list on Nomu
The company has won approval for an IPO of 1m shares.
Saudi crude oil exports jump to 147,000 barrels per day in April
Crude oil exports of Saudi Arabia grew 147,000 barrels per day in April to 7.38 million, a level not seen since March 2020 when the Kingdom’s exports were 7.39 million bpd.Bitcoin drops to $18,740, its lowest level since December
Bitcoin plunged below $20,000 on Saturday, shedding nine percent from the previous day to fall to $18,740, its lowest level since December 13, 2020. The value of the global crypto market fell below the symbolic $1 trillion mark on Monday after reaching $3 trillion in November of last year.Hunger crisis could swell already record global displacement: UN
Russia's war in Ukraine has pushed global displacement numbers above 100 million for the first time, and the UN warns the resulting hunger crisis could force many more to flee their homes.Google pays $118m in settlement to underpaid female workers
Google said on Sunday that it was "very pleased" to be settling, without admission of wrongdoing, a class-action lawsuit that argued it underpaid female employees and assigned them lower-ranking positions. The $118 million settlement covers about 15,500 female employees who have worked for the company in California.Chinese firm bags $974m Madinah tunnel project
Saudi Arabia has awarded the building of a five-kilometer-long tunnel in the city of Madinah to a Chinese construction firm, to be built at the cost of $974 million. The project also involves the construction of a pedestrian bridge. Al-Amida road will serve as an alternative to the current ring...Savola Foods buys Egybelg
The Saudi firm plans to invest $91m in Egypt.
ADQ of Abu Dhabi and Jordan set up venture capital fund
ADQ of Abu Dhabi and Jordan have set up a $100 million technology venture capital fund (the Fund) to bolster tech companies in the kingdom's digital economy. ADQ is reinforcing its commitment to investing in advancing core sectors of the Jordanian economy and enhancing the global technology ecosystem. The Fund...
ACWA Power inks deal for Layla PV Solar project worth $107m
Saudi ACWA Power Co. has signed a power purchase agreement with Saudi Power Procurement Co. for the Layla PV Solar project worth $107 million.
Kuwait crude oil export to Japan climbs 7.6% to 6.61m barrels
Kuwait's export of crude oil to Japan has climbed 7.6 percent to 6.61 million barrels, or 220,000 barrels per day (bpd), up for the second straight month, government data showed Tuesday.ÂEast Pipes lands $131m deal
The firm will supply pipes to Saline Water Corporation.
Al Seer buys two new ships
The firm, a subsidiary of IHC, acquired the vessels for AED246m.
Saudi oil supply to China soars 38% in April, highest since 2020
Saudi Arabia's supply of oil to China has soared 38 percent in April, hitting the highest monthly volume since May 2020.
Vintage Mercedes sold for $143m at auction
A 1955 Mercedes-Benz, one of only two of its kind, was auctioned off earlier this month for a whopping $143 million, making it the most expensive car ever sold.
