Zain
“Swvl” and “Queens Gambit” entered into an agreement to merge the business to become through “Swvl” the first company in the Middle East with an estimated value of more than $1 billion to be listed on the Nasdaq Stock Exchange under the symbol (SWVL).
The Saudi index lost 0.4 percent, with the banking sector, which had been relatively robust this week, falling back.
Oman Telecommunications Co. (Omantel) is to buy almost 10 percent of Zain Group for $846.1 million, the Omani firm said in a statement on Thursday.
Kuwaiti telecom company Zain released a television ad in the form of a song on the first day of Ramadan to combat terrorism.
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