June 17th, 2019 | 0 commentsRas Al Khaimah Cement Company (RAK Cement) has appointed Al Ramz Capital, a subsidiary of Al-Ramz Corporation Investment and Development, as a Liquidity Provider. RAK Cement took the decision after receiving the approval of the Abu Dhabi Securities Exchange (ADX), according to the ADX’s statement on Sunday. Under the agreement, Al Ramz Ca...
June 14th, 2019 | 0 commentsMakkah Construction and Development Co announced that it has terminated any contracts with its subsidiary in Makkah City, Millennium and Copthorne Middle East Holdings Limited company. Makkah Construction has ended the agreement with the five-star Millennium and Copthorne in regards to its first project that overlooks Masjid Al Haram, the...
June 13th, 2019 | 0 commentsAbu Dhabi Investment Authority (ADIA) has purchased a 25% stake in 330 Madison Avenue in New York from Vornado Realty Trust, a spokesman of ADIA told Reuters on Wednesday. The stake has been bought by a subsidiary of the Emirati sovereign wealth fund, the spokesman highlighted. He noted that ADIA used to hold a 75% stake in the property f...
June 11th, 2019 | 0 commentsEgypt Aluminum announced it is likely to log profits of EGP 107 million during fiscal year 2019/2020. The aluminum maker amended its estimated budget scheme for the coming fiscal year after electricity is priced at EGP 1.11 kilowatt per hour (KwH), according to a statement to the Egyptian Exchange (EGX) on Monday. In March, the Egyptian f...
May 31st, 2019 | 0 commentsArab Moltaqa Investment Company’s (AMIA) board approved investing in the field of education and real estate development at a total value of EGP 100 million, as per a Thursday bourse filing. The investment will be through AlMuttahed Development and Real Estate Investment Company, a subsidiary firm. Convened on May 29, the company’s board a...
May 30th, 2019 | 0 commentsBeltone Financial Holding announced that Sama Cement has decreased its stake in Sinai Cement to 6.75%. Sama Cement has sold about 2 million shares in Sinai Cement, slashing its stake to 6.75% from 9.689%, according to a statement to the Egyptian Exchange (EGX) on Wednesday. The total value of the deal registered EGP 16.5 million at an ave...
May 28th, 2019 | 0 commentsAl Ahsa Development Company has extended a memorandum of understanding (MoU) to acquire Al Salam Medical Services Company for 90 days until 28 August. The company attributed the MoU extension to complete documents required for the acquisition deal, according to a filing to the Saudi Stock Exchange (Tadawul) on Monday. In March, Al Ahsa re...
May 28th, 2019 | 0 commentsSaudi Arabian Mining Company (Maaden), with a 65% stake owned by the kingdom's sovereign investor Public Investment Fund (PIF), reportedly plans to raise as much as $5 billion via a rights offering, people familiar with the matter told Bloomberg News. The issuance proceeds will be used to finance potential acquisitions over the coming per...
May 28th, 2019 | 0 commentsFujairah Cement Industries Co announced it has withdrawn from Sohar Cement due to a slump in cement prices. The withdrawal transaction has been completed at a value of $60 million (AED 220.4 million), Fujiairah Cement added in a statement to the Abu Dhabi Securities Exchange (ADX). The financial impact of the transaction will be reflected...
May 28th, 2019 | 0 commentsBahraini developer Diyar Al Muharraq has achieved significant progress at its Southern Island project with infrastructure work being implemented in line with the construction schedule. Some key updates on the project include: *Completion of the main road on Diyar Al Muharraq’s Southern Island and the start of the road landscaping, schedul...
