RIYADH: Egyptian billionaire Onsi Sawiris has died at age of 91, Al Arabiya reported.
The father of Naguib Sawiris, chairman and CEO of Orascom Telecom Holding, was born on Aug. 14, 1930.
After graduating from Cairo University in 1950 with a BA in Agroculture, he started work in a contracting company involved in road paving and digging irrigation canals, that was later nationalized.
Sawiris remained the head of the company for five years before he moved to Libya in 1966, and worked there in contracting before returning to Egypt in the mid-70s.
Onsi Sawiris founded Orascom General Contracting and Trade in 1976, known later as Orascom Construction Industries.
His company’s activity expanded in the 1980s and 90s, to include tourism, hotels, computer services and mobile phones.
By the time of his death the group had become one of the best known corporate names in Egypt.
Orascom patriarch Onsi Sawiris dies aged 91, Al Arabiya reports
https://arab.news/vhsme
Orascom patriarch Onsi Sawiris dies aged 91, Al Arabiya reports
- The father of Naguib Sawiris, chairman and CEO of Orascom Telecom Holding, was born on Aug. 14, 1930
Closing Bell: Saudi main index closes in red at 11,183
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.
The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.
The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.
The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.
The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.
Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.
On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.
Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.
On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.
In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”
Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.
The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.
