RIYADH: Saudi Arabia’s General Authority for Competition approved 13 acquisition and merger requests during the month of February, according to a statement. The figure reflects a drop from the 20 given the green light by the organization in January. Last month, applications for acquisitions, joint ventures and mergers represented 75 percent, 20 percent and 5 percent,
RIYADH: Saudi Arabia’s Tadawul All Share Index on Thursday closed flat or 0.07 points down at 10,531.83, as global economic winds withered investors’ appetite to take any further risks. “The Tadawul index did not witness any significant change, with caution continuing, and it seems that risk aversion prevails at the moment,” Raed Mohamed Diab, vice president of investment
RIYADH: Jahez International Co. for Information Systems Technology has signed an agreement to acquire all shareholders’ shares of Marn Business Information Technology Co. for SR60 million ($16 million). The transaction is in line with the online food delivery platform Jahez’s strategy of expanding its business through acquisitions in order to take advantage of the growing
RIYADH: Saudi food delivery startup Jahez has signed an initial agreement with shareholders of Marn Business Information Technology Co., a point of sales systems provider for the food and beverage and retail sectors, to fully acquire the latter. The proposed acquisition will be priced based on the findings of due diligence, the company said in a bourse filing. Jahez was listed
RIYADH: Saudi Arabian stocks snapped a series of gains to end lower on Tuesday in line with oil prices. The main TASI index was down 1.1 percent to 13,505 in one of its biggest daily drops recently, and the parallel Nomu market slipped 0.5 percent to 24,088. Dubai and Kuwait led the gainers in the GCC, up 1.6 and 1 percent, respectively. Stock markets in Qatar and Oman