RIYADH: Saudi Arabia’s Tadawul All Share Index declined 189.34 points or 1.58 percent on Wednesday to close at 11,796.63. The total trading turnover of the benchmark index was SR8.6 billion, with 120 stocks advancing and 93 retreating. Similarly, the MSCI Tadawul decreased by 31.09 points, or 1.99 percent, to close at 1,530.39. In contrast, the … Read more
CAIRO: The startup scene in the Middle East and North Africa experienced a flurry of activity this week, with various firms securing funding, engaging in cross-border acquisitions, and acquiring strategic licenses. In funding news, Silkhaus, a property tech startup based in the UAE, closed a pre-Series A funding round aimed at fueling its expansion into … Read more
LONDON: Saudi media organization MBC Group generated SR831 million ($222 million) in its initial public offering after pricing it at the top of the range. On Tuesday, the company announced that it had set the price for its stock offering at SR25 per share, for a 10 percent stake. The pricing indicated that the firm’s overall … Read more