October 3rd, 2019 | 0 commentsAl Alamiya for Cooperative Insurance Company, listed on the Saudi Stock Exchange (Tadawul), announced it has signed an agreement with Panda Retail Company. Under the agreement, Al Alamiya will provide Panda Retail with general insurance services for a year as of 1 October 2019, Alamiya said in a bourse filing on Tuesday. “The contract rev...
September 23rd, 2019 | 0 commentsDubai-based Meraas Holding and Canada’s Brookfield Asset Management will set up a joint venture (JV) at a value of AED 5 billion ($1.4 billion), Reuters reported. The JV will own and operate Meraas’ retail assets, including Dubai sites The Beach, City Walk, and La Mer, according to the London-based news agency. In November 2018, sources t...
September 17th, 2019 | 0 commentsSouth Cairo and Giza Flour Mills and Bakeries (SCFM) announced turning to losses during fiscal year 2018/2019, according to the company’s adjusted financial results. The company incurred losses of EGP 28.21 million in the twelve-month period ended 30 June, against a profit of EGP 25.9 million in FY17/18, according to a statement to the Eg...
September 13th, 2019 | 0 commentsArab Cotton Ginning’s board of directors recommended a cash dividend distribution of EGP 0.10 per share for fiscal year 2018/2019. The proposed dividends are still pending approval of the extraordinary general meeting (EGM) scheduled to be held on 30 September, the company said in a statement to the Egyptian Exchange (EGX) on Thursday. Du...
September 12th, 2019 | 0 commentsEastern Co.’s board of directors recommended a cash dividend distribution of EGP 1 per share for fiscal year 2018/2019. The board proposed distributing dividends of EGP 2.25 billion to shareholders for the last fiscal year, the tobacco manufacturer said in a statement to the Egyptian Exchange (EGX) on Wednesday. The company’s capital reac...
September 9th, 2019 | 0 commentsRakta Paper Manufacturing (RAKT) announced in a statement sent to EGX, the audited financial results for the fiscal period starting July 1, 2018, and ending June 30, 2019. The company incurred net losses of EGP 123,261,753, compared to net losses of EGP 82,815,452 in the same period a year ago. -Arab Finance
August 22nd, 2019 | 0 commentsThe UAE-based Middle East Venture Partners (MEVP) and Impact46 have co-led an investment worth $6.6 million in Saudi-based Nana Direct, an online grocery platform serving 13 cities across the Kingdom. The deal marks the debut investment for the partnership between MEVP and Impact46. Other investors include Watar Partners, Saudi Venture Ca...
August 22nd, 2019 | 0 commentsFawaz Abdulaziz Alhokair Company reported its interim financial results for the second quarter of 2019. Net profits after zakat and tax declined by 10.1% to SAR 224 million in Q2-19, compared to SAR 249.2 million in Q2-18, according to the firm’s statement to the Saudi Stock Exchange (Tadawul) on Wednesday. Total revenues plunged by 6.13%...
August 7th, 2019 | 0 commentsJarir Marketing Company reported its initial financial statements for the second quarter of 2019. Net profits after zakat and tax went up 3.9% to SAR 169.1 million in Q2-19, compared to SAR 162.6 million in Q2-18, according to the company’s filing to the Saudi Stock Exchange (Tadawul) on Tuesday. The increase in profits was attributed to...
July 31st, 2019 | 0 commentsRakta Paper Manufacturing reported a 48% year-on-year increase in its losses during fiscal year 2018/2019. The company suffered losses of EGP 122.6 million in the twelve-month period ended 30 June, compared to EGP 82.8 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Tuesday. Year-on-year, sales r...
