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24 October 12:15 AM

Gulf news

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21 October 05:48 PM Takween logs 557% jump in Q3 profits’ accumulated losses cross 28%
Riyadh – Mubasher: Takween Advanced Industries Company achieved an annual surge of 556.6% in net profits after Zakat and tax to SAR 40.34 million in the third quarter (Q3) of 2021 from SAR 6.14 million. Revenues soared by 21% to SAR 222.45 million …
Financial Results
Photo Archive
21 October 05:39 PM Yanbu Cement’s Q3 profits shrink 56%
Riyadh – Mubasher: Yanbu Cement Company logged a year-on-year (YoY) decrease of 55.8% in net profits to SAR 36.4 million during the third quarter (Q3) of 2021 from SAR 82.48 million. Revenues declined by 13.5% YoY to SAR 207.78 in Q3-21 from SAR …
Financial Results
Photo Archive
21 October 05:21 PM stc records SAR 3bn profits in Q3, to pay SAR 2bn dividends
Riyadh – Mubasher: Saudi Telecom Company (stc) registered net profits after Zakat and tax of SAR 2.92 billion in the third quarter (Q3) of 2021, rising by 5.7% from SAR 2.76 billion in Q3-20. Revenues increased year-on-year (YoY) by 5.7% to SAR …
Financial Results
Photo Archive
21 October 04:17 PM TASI ends week higher; NomuC falls
Riyadh – Mubasher: The Tadawul All Share Index (TASI) of the Saudi Exchange (Tadawul) closed Thursday higher by 35.84 points (0.3%) at 11,939.58 points. The turnover reached SAR 7.43 billion after trading 202.42 million shares, compared to SAR …
Trading Activities
Photo Archive
21 October 01:59 PM Nadec turns profitable in Q3, incurs losses in nine months
Riyadh –Mubasher: National Agricultural Development Company (Nadec) registered net profits after Zakat and tax worth SAR 3.21 million in the third quarter (Q3) of 2021, versus losses of SAR 44.89 million in Q3-20. Revenues went up 0.7% to SAR …
Financial Results
Photo Archive
21 October 01:00 PM Final IPO price for Arabian Contracting set at SAR 100/shr
Riyadh – Mubasher: The final price for the initial public offering (IPO) of Arabian Contracting Services Company (Al Arabia) has been set at SAR 100 per share, financial advisor GIB Capital announced in a bourse disclosure on Thursday. GIB, the …
Initial Public Offerings
Photo Archive
21 October 12:23 PM SADAFCO logs lower profits at SAR 54m in Q2-21/22
 Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (SADAFCO) recorded net profits after Zakat and tax worth SAR 53.7 million in the second quarter (Q2) of fiscal year (FY) 2021/2022. This marked a decline of 23.5% from SAR 70.26 million in …
Financial Results
Photo Archive
21 October 11:31 AM Arriyadh Development records SAR 71m profits in Q3-21
Riyadh – Mubasher: Arriyadh Development Company achieved net profits after Zakat and tax worth SAR 70.8 million during the third quarter (Q3) of 2021, rising by 28.4% from SAR 55.1 million in Q3-20. Sales rose by 3.6% to SAR 61.9 million in Q3-21 …
Financial Results
Photo Archive
21 October 10:50 AM Banan Real Estate’s shareholders nod to H1-21 dividends
Riyadh – Mubasher: The shareholders of Banan Real Estate Company have approved the board’s recommendation of distributing a cash dividend of SAR 0.25 per share for the first half (H1) of 2021. The total dividend payout amount stands at SAR 5 …
Cash Dividends
Photo Archive
20 October 05:27 PM SAIB plans redemption of SAR 500m sukuk
Riyadh – Mubasher: The Saudi Investment Bank (SAIB) intends to redeem its outstanding SAR 500 million Additional Tier 1 Capital Sukuk on 21 November. The Sukuk was issued through a private placement on 21 November 2016, according to a bourse …
Banking and Finance
Photo Archive
20 October 04:38 PM Makkah Construction turns profitable in Q3-21
Riyadh – Mubasher: Makkah Construction and Development Company achieved net profits after Zakat and tax of SAR 12 million in the third quarter (Q3) of 2021, versus losses of SAR 29 million in Q3-20. Sales jumped 800% to SAR 45 million in Q3-21 …
Financial Results
The initiative aims to boost partnerships between public and private sectors
20 October 04:28 PM UAE launches Pioneers of Digital Economy initiative
UAE - Mubasher: The UAE government has introduced the "Pioneers of the Digital Economy" initiative to develop the capabilities of young talents and empower them with the knowledge and expertise necessary for the development of advanced future …
Macroeconomics
Photo Archive
20 October 04:16 PM Bank Albilad records SAR 450m profits in Q3-21
Riyadh – Mubasher: Bank Albilad achieved net profits worth SAR 449.7 million during the third quarter (Q3) of 2021, up by 17.5% from SAR 382.6 million in Q3-20. On a quarterly basis, the net profits were 8% higher than SAR 416.1 million in Q2-21, …
Financial Results
Photo Archive
20 October 03:43 PM TASI, NomuC end Wednesday in green
Riyadh – Mubasher: The Tadawul All Share Index (TASI) of the Saudi Exchange (Tadawul) closed Wednesday’s session higher by 11.2 points (0.94%) at 11,903.74 points. The trading value stood at SAR 7.24 billion after exchanging 189.75 million shares, …
Trading Activities
UAE will develop scientific instruments for Israel’s Beresheet-2 mission
20 October 03:40 PM UAE, Israel Space Agencies ink agreement to enhance space cooperation
UAE - Mubasher: The UAE Space Agency has entered into a Memorandum of Understanding (MoU) with the Israel Space Agency to cooperate in scientific research, space exploration, and data analysis and exchange expertise. Under the agreement, the UAE …
Macroeconomics
The ministry conducted 304,976 COVID-19 tests
20 October 02:25 PM UAE reports 112 new COVID-19 cases
UAE - Mubasher: The UAE Ministry of Health announced on Wednesday 112 new coronavirus (COVID-19) cases to bring the total number of cases to 738,924. The ministry conducted 304,976 COVID-19 tests to detect further cases. The total number of …
Photo Archive
20 October 02:20 PM Oil demand in Q4-21 likely to grow 2% – Report
Riyadh – Mubasher: Oil demand is forecast to increase by 2% or 1.5 million barrels per day (bpd) during the fourth quarter (Q4) of 2021 on a quarterly basis, according to a report by Jadwa Investment. OPEC data showed that oil demand has risen by …
Sector Reports
The initiative will offer new financing solutions
20 October 01:44 PM ADDED introduces Smart Manufacturing Project
UAE - Mubasher: The Abu Dhabi Department of Economic Development (ADDED) has launched the Smart Manufacturing Project to support manufacturing facilities to adopt industry 4.0 applications. Through the project, the department seeks to improve the …
Companies Investments
The transaction is ADIA's largest investment in Indonesia
20 October 12:59 PM ADIA to invest $400m in Indonesia-based GoTo’s pre-IPO fundraising
UAE - Mubasher: A wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) has inked an agreement with GoTo Group, an Indonesia-based digital company, for ADIA to invest $400 million in GoTo's pre-IPO fundraising. The transaction is …
Companies Investments
The offering size was confirmed at 1.145 billion ordinary shares
20 October 12:16 PM Fertiglobe completes IPO bookbuilding process, sets final offer price
Abu Dhabi - Mubasher: Fertiglobe has completed the bookbuilding process for its initial public offering (IPO) on the Abu Dhabi Securities Exchange (ADX) and set the final offer price at AED 2.55 per ordinary share. The offering size was confirmed …
Companies Investments
Photo Archive
20 October 12:05 PM Thimar inks framework deal with Al Khair Capital
Riyadh – Mubasher: National Agricultural Marketing Company (Thimar) has signed a framework agreement with Al Khair Financial Company (Al Khair Capital) on 19 October. The agreement aims to provide advisory services that contribute to achieving …
Companies Investments
The earnings per share (EPS) settled at AED 0.148
20 October 11:35 AM Emirates Islamic Bank turns to profitability in 9M
Dubai – Mubasher: Emirates Islamic Bank recorded net profits of AED 804.238 million during the first nine months of 2021, against net losses of AED 311.238 million in the year-ago period, according to the bank's unaudited consolidated interim …
Financial Results
Photo Archive
20 October 11:07 AM SEDCO Capital unveils distribution date for REIT fund’s dividends
Riyadh – Mubasher: Saudi Economic and Development Securities Company (SEDCO Capital) announced that the distribution date for the cash dividends to SEDCO Capital REIT Fund’s unitholders will commence on Thursday, 21 October. The fund manager SEDCO …
Cash Dividends
The bonds are 5.6% oversubscribed
20 October 10:46 AM UAE Government celebrates listing first sovereign bonds on Nasdaq Dubai
UAE - Mubasher: Mohammed bin Hadi Al Hussaini, the UAE Minister of State for Financial Affairs, has celebrated the listing of the UAE sovereign bonds on Nasdaq Dubai. The US dollar-denominated three-tranche bonds, the first to be issued by the UAE …
Macroeconomics
Photo Archive
20 October 10:44 AM Gulf Union Alahlia plans SAR 229.5m capital raise
Riyadh – Mubasher: The board of Gulf Union Alahlia Cooperative Insurance Company recommended a capital increase through a right issues, according to a bourse disclosure on Wednesday. The company intends to raise the capital by SAR 229.47 million …
Management Decisions