Saudi News

Fitch views KSA's banking sector as strong and stable - (Photo Credit: Arabianeye-Reuters)
22 March 08:51 PM Fitch lowers Saudi Arabia’s rating to A+
Riyadh - Mubasher: Fitch Ratings has downgraded Saudi Arabia’s long-term foreign and local currency issuer default ratings to 'A+' from 'AA-', with a stable outlook, according to a recent report. KSA expects the public budget deficit to fall to …
(Photo Credit: Company website)
22 March 06:31 PM FIPCO EGM to discuss 50 halala/shr dividends 16 April
Riyadh - Mubasher: Filing and Packing Materials Manufacturing Company’s (FIPCO) board of directors told shareholders to attend the extraordinary general meeting (EGM) on 16 April to vote on the recommendation of distributing cash dividends of 50 …
(Photo Credit: Arabianeye-Reuters)
22 March 06:13 PM KSA inflation negative for second month in row
Riyadh – Mubasher: Inflation levels in Saudi Arabia retreated 0.07% in February 2017, compared to the same month in 2016, remaining negative for the second month in a row, the General Authority for Statistics (GaStat) revealed in a statement. The …
Photo Credit: Mubasher
22 March 05:22 PM Al-Tayyar not harmed by EGP flotation - CEO
By: Mohammed Idris Riyadh - Mubasher: The CEO of Al Tayyar Travel Group Holding, Abdullah Nasser Al Dawood, said his company has no fears of the pound flotation and its effects on the group and its investments in Egypt. The group provisions, …
The reduction will be through the cancellation of 2.9 million shares - (Photo Credit: Arabianeye-Reuters)
22 March 04:48 PM Asharqiyah Development BOD recommends 39% capital cut
Riyadh - Mubasher: Asharqiyah Development announced that its board of directors (BOD) has recommended to reduce the company's capital by 38.80% from SAR 75 million to SAR 45.9 million. The number of shares before the reduction will be reduced from …
Located in Jubail Industrial City, the project is estimated at SAR 520 million (Photo Credit: Company Website)
22 March 04:24 PM BCI, German firm sign deal for new project
Riyadh – Mubasher: Basic Chemical Industries Company (BCI) inked on Wednesday an agreement with Germany-based ThyssenKrupp Uhde Chlorine Engineers to carry out the first phase of its chlorine derivatives project, according to a bourse statement. …
The main index closed at 5,140 points - (Photo Credit: Arabianeye-Reuters)
22 March 04:23 PM Nomu closes Wednesday down 1.76%
Riyadh - Mubasher: The Nomu-Parallel Market ended Wednesday’s trading in red, for the second consecutive session. The main index (NOMU) lost 1.76% or 91.93 points, and closed at the level of 5,140.08 points. Traded values decreased to SAR 12.18 …
Photo Credit: Arabianeye-Reuters
22 March 04:07 PM Saudi Electricity EGM to vote on dividends late April
Riyadh - Mubasher: The board of Saudi Electricity has invited the company’s shareholders to attend the extraordinary general meeting (EGM) on 19 April, according to a bourse filing. The EGM will vote on the distribution of cash dividends for the …
The main index reached its lowest level in six sessions - (Photo Credit: Arabianeye-Reuters)
22 March 03:53 PM Tadawul down at close for 3rd day in row
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) continued Wednesday its downward trend for the third consecutive day, seeing its biggest daily decline rate in March. The Tadawul All Shares Index (TASI) ended Wednesday’s trading session down …
Investments in Saudi Tourism set to reach SAR 175 billion in three years - (Photo Credit: SCTH Website)
22 March 01:17 PM Saudi tourism investments reached SAR 151bn in 2016 - SCTH
Riyadh - Mubasher: The Saudi Commission for Tourism and National Heritage (SCTH) said that investments in the tourism sector exceeded SAR 151 billion, while tourist spending reached SAR 168.3 million by the end of last year. A report issued by the …
(Photo archive)
22 March 12:13 PM Jarir retains provision for EGP devaluation losses – Chairman
By: Mohamed Idris Riyadh – Mubasher: Jarir Marketing's chairman said on Wednesday that the company had set aside a provision for the probable losses resulting from the Egyptian pound's devaluation. On the sidelines of the Third Saudi Conference …
(Photo credit: Arabianeye - Reuters)
22 March 11:40 AM Tadawul falls mid-session, Nomu opens in red on Wednesday
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) fell 0.92% or 63.68 points to 6,849.10 points at Wednesday's mid-session. By 11:33 KSA time, 73.17 million shares were exchanged at a value of SAR 1.34 billion through 41,630 …
(Photo credit: Arabianeye - Reuters)
22 March 10:55 AM Gulf Union proposes capital cut to SAR 150m
Riyadh – Mubasher: Gulf Union Cooperative Insurance's board recommended decreasing its capital by 31.82%. The capital would be reduced from SAR 220 million to SAR 150 million, through cancelling SAR 70 million; the number of shares will …
(Photo credit: Company Website)
22 March 10:34 AM Jabal Omar inks deal to sell 3 hotels for SAR 6 billion
Riyadh – Mubasher: Jabal Omar Development signed on Tuesday a contract to sell three hotels at a value of SAR 6 billion. The three hotels are Makkah Conrad, Hilton Makkah, and Hyatt Regency Makkah, in addition to Al Khalil Shopping Center, …
Rig
22 March 10:20 AM Moody's: Global oil sector outlook turns positive
Cairo - Decypha: Moody's Investors Service (Moody's), a bond credit rating system, revised its outlook to positive on the global oil and gas sector. The revision from stable to positive followed higher profits from the oil industry’s upstream …

Mubasher Exclusive

Photo Credit: Mubasher
22 March 05:22 PM Al-Tayyar not harmed by EGP flotation - CEO
By: Mohammed Idris Riyadh - Mubasher: The CEO of Al Tayyar Travel Group Holding, Abdullah Nasser Al Dawood, said his company has no fears of the pound flotation and its effects on the group and its investments in Egypt. The group provisions, …
The main index closed at 5,140 points - (Photo Credit: Arabianeye-Reuters)
22 March 04:23 PM Nomu closes Wednesday down 1.76%
Riyadh - Mubasher: The Nomu-Parallel Market ended Wednesday’s trading in red, for the second consecutive session. The main index (NOMU) lost 1.76% or 91.93 points, and closed at the level of 5,140.08 points. Traded values decreased to SAR 12.18 …
The main index reached its lowest level in six sessions - (Photo Credit: Arabianeye-Reuters)
22 March 03:53 PM Tadawul down at close for 3rd day in row
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) continued Wednesday its downward trend for the third consecutive day, seeing its biggest daily decline rate in March. The Tadawul All Shares Index (TASI) ended Wednesday’s trading session down …
(Photo archive)
22 March 12:13 PM Jarir retains provision for EGP devaluation losses – Chairman
By: Mohamed Idris Riyadh – Mubasher: Jarir Marketing's chairman said on Wednesday that the company had set aside a provision for the probable losses resulting from the Egyptian pound's devaluation. On the sidelines of the Third Saudi Conference …
(Photo archive)
22 March 08:40 AM Tadawul qualified to join global indices – El-Kuwaiz
By: Mohamed Idris Riyadh – Mubasher: The Saudi market is qualified to join global indices after achieving several qualifying factors, Mohammed El-Kuwaiz, vice chairman of the country's Capital Market Authority (CMA), said. El-Kuwaiz added that …

Local News

Fitch views KSA's banking sector as strong and stable - (Photo Credit: Arabianeye-Reuters)
22 March 08:51 PM Fitch lowers Saudi Arabia’s rating to A+
Riyadh - Mubasher: Fitch Ratings has downgraded Saudi Arabia’s long-term foreign and local currency issuer default ratings to 'A+' from 'AA-', with a stable outlook, according to a recent report. KSA expects the public budget deficit to fall to …
(Photo Credit: Arabianeye-Reuters)
22 March 06:13 PM KSA inflation negative for second month in row
Riyadh – Mubasher: Inflation levels in Saudi Arabia retreated 0.07% in February 2017, compared to the same month in 2016, remaining negative for the second month in a row, the General Authority for Statistics (GaStat) revealed in a statement. The …
Photo Credit: Mubasher
22 March 05:22 PM Al-Tayyar not harmed by EGP flotation - CEO
By: Mohammed Idris Riyadh - Mubasher: The CEO of Al Tayyar Travel Group Holding, Abdullah Nasser Al Dawood, said his company has no fears of the pound flotation and its effects on the group and its investments in Egypt. The group provisions, …
Investments in Saudi Tourism set to reach SAR 175 billion in three years - (Photo Credit: SCTH Website)
22 March 01:17 PM Saudi tourism investments reached SAR 151bn in 2016 - SCTH
Riyadh - Mubasher: The Saudi Commission for Tourism and National Heritage (SCTH) said that investments in the tourism sector exceeded SAR 151 billion, while tourist spending reached SAR 168.3 million by the end of last year. A report issued by the …
Rig
22 March 10:20 AM Moody's: Global oil sector outlook turns positive
Cairo - Decypha: Moody's Investors Service (Moody's), a bond credit rating system, revised its outlook to positive on the global oil and gas sector. The revision from stable to positive followed higher profits from the oil industry’s upstream …

Gulf News

Fitch views KSA's banking sector as strong and stable - (Photo Credit: Arabianeye-Reuters)
22 March 08:51 PM Fitch lowers Saudi Arabia’s rating to A+
Riyadh - Mubasher: Fitch Ratings has downgraded Saudi Arabia’s long-term foreign and local currency issuer default ratings to 'A+' from 'AA-', with a stable outlook, according to a recent report. KSA expects the public budget deficit to fall to …
(Photo Credit: Company website)
22 March 06:31 PM FIPCO EGM to discuss 50 halala/shr dividends 16 April
Riyadh - Mubasher: Filing and Packing Materials Manufacturing Company’s (FIPCO) board of directors told shareholders to attend the extraordinary general meeting (EGM) on 16 April to vote on the recommendation of distributing cash dividends of 50 …
(Photo Credit: Arabianeye-Reuters)
22 March 06:13 PM KSA inflation negative for second month in row
Riyadh – Mubasher: Inflation levels in Saudi Arabia retreated 0.07% in February 2017, compared to the same month in 2016, remaining negative for the second month in a row, the General Authority for Statistics (GaStat) revealed in a statement. The …
Photo Credit: Mubasher
22 March 05:22 PM Al-Tayyar not harmed by EGP flotation - CEO
By: Mohammed Idris Riyadh - Mubasher: The CEO of Al Tayyar Travel Group Holding, Abdullah Nasser Al Dawood, said his company has no fears of the pound flotation and its effects on the group and its investments in Egypt. The group provisions, …
The reduction will be through the cancellation of 2.9 million shares - (Photo Credit: Arabianeye-Reuters)
22 March 04:48 PM Asharqiyah Development BOD recommends 39% capital cut
Riyadh - Mubasher: Asharqiyah Development announced that its board of directors (BOD) has recommended to reduce the company's capital by 38.80% from SAR 75 million to SAR 45.9 million. The number of shares before the reduction will be reduced from …
Dubai
22 March 04:43 PM Dubai's tourism industry sees 12% growth in 2017
Dubai – Decypha: Dubai received three million tourists during the period between January and February 2017, marking a 12% growth in comparison to the same period the previous year, according to a statement by Dubai’s Department of Tourism and …
(Photo archive)
22 March 04:38 PM Doha Bank to disclose Q1 statements 19 April
Doha - Mubasher: Doha Bank will announce its financial statements of the first quarter of 2017 on 19 April, the bank said in a statement to the Qatar Stock Exchange (QSE). Annual profits reached QAR 1.054 billion in 2016, compared to QAR 1.354 …
(Photo Credit: Arabianeye-Reuters)
22 March 04:28 PM Financial, services sectors push MSM down Wednesday
Mubasher: The main index of the Muscat Securities Market (MSM) ended Wednesday’s trading down 0.22% or 12.25 points, closing at 5,617.68 points. The index’s performance was affected by a collective decline of sectors. The decline was led by the …
Located in Jubail Industrial City, the project is estimated at SAR 520 million (Photo Credit: Company Website)
22 March 04:24 PM BCI, German firm sign deal for new project
Riyadh – Mubasher: Basic Chemical Industries Company (BCI) inked on Wednesday an agreement with Germany-based ThyssenKrupp Uhde Chlorine Engineers to carry out the first phase of its chlorine derivatives project, according to a bourse statement. …
The main index closed at 5,140 points - (Photo Credit: Arabianeye-Reuters)
22 March 04:23 PM Nomu closes Wednesday down 1.76%
Riyadh - Mubasher: The Nomu-Parallel Market ended Wednesday’s trading in red, for the second consecutive session. The main index (NOMU) lost 1.76% or 91.93 points, and closed at the level of 5,140.08 points. Traded values decreased to SAR 12.18 …