RIYADH: Future Tech Retail, a unit of BinDawood Holding, has acquired a 62-percent stake in e-commerce platform operator International Applications Trading Co. for SR108 million ($29 million). A fully owned subsidiary of Saudi retailer BinDawood, Future Tech signed the deal with Amwaj Real Estate Co. and First Commercial Application Co., to acquire the stake, a bourse filing
RIYADH: Saudi Arabian stocks wrapped up the previous trading week with gains, mirroring a strong oil market despite ongoing geopolitical tensions. TASI finished the week 1.4 percent higher after trading flat at 12,948 points in Thursday’s session, which saw the parallel market, Nomu, drop 1.7 percent to 24,067. Elsewhere in the GCC, Kuwait led the gainers as it added 1.2
RIYADH: A unit of Saudi retailer BinDawood has signed an initial agreement to acquire a 62 percent stake in e-commerce platform operator International Applications Trading Co. Future Tech Retail, which is fully owned by BinDawood Holding, signed the deal with Amwaj Real Estate Co. and First Commercial Application Co., a bourse filing showed on Sunday. The potential acquisition
RIYADH: Saudi Arabian stocks capped last week with gains, following a mixed performance throughout the week as cautious earnings optimism took over. TASI index surged 0.52 percent to end at 12,268 on Thursday. This came after it posted two straight days of losses and increased 0.73 percent on the week. The parallel market, Nomu, slipped by 0.45 percent to 25,217 points.