RIYADH: UAE-based grocery store operator Spinneys 1961 Holding PLC has announced its intention to proceed with an initial public offering on the Dubai Financial Market. Al Seer Group, Spinney’s parent company and the selling shareholder, expects to sell 25 percent of the total issued share capital of the firm, equivalent to a total of 900 million … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 38.52 points, or 0.30 percent, to close at 12,666.90. The total trading turnover of the benchmark index was SR6.28 billion ($1.67 billion) as 103 of the stocks advanced, while 122 retreated. On the other hand, the Kingdom’s parallel market Nomu gained 137.34 points, or … Read more
Startup Wrap – OSN+, AhnLab, and Mubashir among firms to see funding success during Ramadan CAIRO: Startups in the Middle East and North Africa region have closed Ramadan and started Eid Al-Fitr on a positive note as venture activity continued. Among the most significant announcements during the holy month was UAE-based online streaming platform OSN+ and … Read more
CAIRO: Saudi startups continue to demonstrate a pioneering stance by capturing almost half of the region’s total venture funding in the first quarter of the year, underscoring the Kingdom’s growing influence in the regional startup ecosystem. In a notable achievement, Saudi ventures secured $224 million out of the $429 million raised across the Middle … Read more
CAIRO: Saudi startups continue to demonstrate a pioneering stance by capturing almost half of the region’s total venture funding in the first quarter of the year, underscoring the Kingdom’s growing influence in the regional startup ecosystem. In a notable achievement, Saudi ventures secured $224 million out of the $429 million raised across the Middle … Read more
RIYADH: Saudi Arabia continued to record robust business activity in March with the authorities approving 18 requests for economic concentration, official data showed. Last month, as many as 17 concentration requests were submitted to the General Authority for Competition. The authority also oversaw a notable influx of cross-border deals, encompassing 10 acquisitions, five joint ventures, … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 164.33 points, or 1.31 percent, to close at 12,401.56. The total trading turnover of the benchmark index was SR5.91 billion ($1.57 billion) as 50 stocks advanced, while 172 retreated. The Kingdom’s parallel market, Nomu, dropped 592.85 points, or 2.23 percent, to close at 26,030.03. … Read more
RIYADH: Carbon markets are set to play a pivotal role in achieving climate goals, with efforts from Saudi Arabia and the UAE, paving the way for a smooth energy transition. According to a new report from the International Energy Forum, carbon markets are capable of effectively lowering the costs associated with greenhouse gas removal by … Read more
CAIRO: Jordanian Foreign Minister Ayman Safadi said on Saturday that “famine” in Gaza can be dealt with in a short time if Israel opened the land crossings for aid to enter.Safadi made the comments at a press conference with his Egyptian and French counterparts in Cairo.The UN and partners have warned that famine could occur … Read more
CAIRO: Startups across the Middle East and North Africa region are increasingly collaborating through strategic partnerships to enhance the entrepreneurial ecosystem. Ventures from various industries are forging alliances, and signing agreements to bolster expansion, penetrate new markets, and enhance customer satisfaction initiatives. At the forefront of these strategic partnerships, the Kingdom’s National Technology Development Program … Read more