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Saudi IT firm MIS and Al-Rajhi receive CMA approval to launch $266m fund

Saudi IT firm MIS and Al-Rajhi receive CMA approval to launch $266m fund
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MIS to build 6 data centers after $320m deal with Saudi Fransi Capital

RIYADH: Saudi information technology firm Al-Moammar Information Systems, or MIS, is to start building six data centers across the Kingdom at an initial value of SR1.2 billion ($320 million) as per a deal with Saudi Fransi Capital, or SFC. A notice from SFC on Jan. 2 activated contracts signed between the two parties. It stated their intention to complete the first phase of ....

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Saudi stocks stay in green, as TASI likely to record biggest annual leap in decade

RIYADH: The Kingdom’s stock exchange saw gains on Tuesday with most of the stocks ending in green territory after recouping two-day losses, thus reviving investor optimism despite omicron worries. Both Saudi indexes – TASI and Nomu – ended the session higher, up 1.4 percent and 1.8 percent to 11,315 and 26,705 points, respectively. The latest gain put TASI on the road to ....

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Saudi bourse closes marginally lower on lingering omicron worries: Closing bell

RIYADH: The Kingdom’s stock exchange edged down slightly at the closing bell as fears of the coronavirus omicron variant and rising cases continue to weigh on investor sentiment. The main stock index, TASI, closed at 11,161 points, while the parallel market, Nomu, declined around 1 percent to 26,237 points. Al Rajhi Bank was the biggest contributor to the session’s losses as ....

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Saudi Arabia sees first private fund to build data centers in the Kingdom

DUBAI: Saudi information technology firm Al-Moammar Information Systems (MIS) has launched a new fund with Saudi Fransi Capital, aimed at building six data centers across the Kingdom. The first-of-its-kind, the companies claimed, Saudi Data Center Fund 1 will be used to build the data centers in two areas with a combined initial capacity of 24 megawatts. It has a target size ....

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