Saudi News

Turnover reached SAR 2.59 billion
25 May 03:17 PM TASI extends losses to 4th session in row
Riyadh – Mubasher: The main index Tadawul All Shares Index (TASI) of the Saudi Stock Exchange (Tadawul) fell at Thursday’s close by 0.43% or 29.71 points to the level of 6,871.72 points, extending losses for the fourth session in a row. Turnover …
Photo Credit: Arabianeye-Reuters
25 May 02:48 PM Kuwait crude oil up 69 cents Wednesday – KPC
Kuwait – Mubasher: The price of Kuwait’s crude oil rose by 69 cents to settle at $50.97 per barrel (pb) on Wednesday, compared to $50.28 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global …
(Photo archive)
25 May 01:58 PM One private transaction on Tadawul totals SAR 16m
Riyadh – Mubasher: One transaction privately executed on the Saudi Stock Exchange (Tadawul) on Al Rajhi’s shares on Thursday totalled SAR 15.58 million. The transaction saw the trading of 249,290 million of the company shares at SAR 62.50 per …
(Photo Credit: Press Release)
25 May 01:25 PM DUSSUR, GE JV starts by end-2017 – CEO
Riyadh – Mubasher: DUSSUR’s joint venture (JV) with General Electric (GE) to manufacture turbines in the Kingdom will start by the end of 2017, according to Dussur's CEO. “Manufacturing of GE's H-Class turbines in Saudi Arabia would start before …
(Photo Credit: Company website)
25 May 12:58 PM Alandalus inaugurates Staybridge Suites Jeddah
Riyadh – Mubasher: Alandalus Property Company announced the inauguration and operation of its fully owned Staybridge Suites Jeddah Alandalus Mall at a total value of SAR 143 million. The company noted that the inauguration came after obtaining the …
The acquisition will be implemented through issuing 2.9 million shares and SAR 12 million.
25 May 11:28 AM Zoujaj raises capital to acquire stake in 2 firms
Riyadh – Mubasher: The extraordinary general meeting (EGM) of the National Company for Glass Industries (Zoujaj) on Wednesday approved increasing its capital, aiming to acquire a 10% stake in the Saudi Guardian and Guardian RAK. The acquisition …
(Photo Credit: Company website)
25 May 10:56 AM Edaa to deposit bonus shares to Herfy shareholders Thursday
Riyadh – Mubasher: The Securities Depository Centre (Edaa) announced the deposit of free bonus shares into eligible investors' portfolios of Herfy Food Services Co on Thursday. The general assembly of Herfy has nodded to raising the capital from …
(Photo Credit: Company website)
25 May 10:52 AM Al Sagr to start paying 2016 dividends 15 June
Riyadh – Mubasher: Al Sagr Cooperative Insurance announced that depositing dividends in the shareholders’ accounts will start on Thursday, 15 June, through Riyad Bank. The eligibility for the dividends will be for shareholders of record at the end …
(Photo archive)
25 May 10:44 AM Tadawul opens Thursday marginally up, Nomu stable
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) went up 0.09% or 5.96 points to 6,907.39 points at Thursday’s open. By 10:37 am KSA time, 23.89 million shares were exchanged through 8,120 transactions at a value of SAR …
The delay will not have a financial impact on the cement company.  (Photo archive)
25 May 10:24 AM Najran Cement delays founding mining, transport firms
Riyadh – Mubasher: Najran Cement Company’s board of directors announced on Wednesday postponing the establishment of a limited liability mining company and a specialised transportation company. The Deputy Ministry for Mineral Resources currently …
(Photo Credit: Company website)
25 May 10:21 AM Zoujaj proposes SAR 16m dividends for H1-17
Riyadh – Mubasher: The National Company for Glass Industries’ (Zoujaj) board recommended the distribution of cash dividends for the first half of 2017. The company would pay dividends at SAR 0.50 per share, totalling SAR 16.45 million and …
(Photo Credit: Company website)
25 May 10:10 AM Saudi Re proposes capital cut
Riyadh – Mubasher: The board of Saudi Re for Cooperative Reinsurance recommended a capital reduction by 19.6%. The capital cut aims to restructure the capital, offset accumulated losses, and support the firm’s future growth, according to a bourse …
Photo credit: Company's website.
25 May 10:04 AM Maadaniyah OKs SAR 0.50/shr dividends for FY16
Riyadh – Mubasher: The ordinary general meeting (OGM) of National Metal Manufacturing and Casting Company (Maadaniyah) on Wednesday approved the distribution of dividends at 50 halalas per share for fiscal year 2016. Total distributions amount to …
SADAFCO will pay SAR 4 per share as dividends
25 May 08:55 AM SADAFCO shareholders nod to FY16 dividends
Riyadh – Mubasher: The ordinary general meeting (OGM) of Saudia Dairy and Foodstuff Company (SADAFCO) on Wednesday approved distributing 40% of capital as cash dividends for fiscal year 2016. The company will pay SAR 4 per share to the entitled …
Photo Credit: Arabianeye-Reuters
25 May 08:49 AM STC launches $500m independent fund
Riyadh – Mubasher: The Saudi Telecom Company (STC) said that its board members on Wednesday approved the establishment of an independent fund worth $500 million (SAR 1.87 billion). The fund will be financed in five equal tranches, each of which …

Mubasher Exclusive

Turnover reached SAR 2.59 billion
25 May 03:17 PM TASI extends losses to 4th session in row
Riyadh – Mubasher: The main index Tadawul All Shares Index (TASI) of the Saudi Stock Exchange (Tadawul) fell at Thursday’s close by 0.43% or 29.71 points to the level of 6,871.72 points, extending losses for the fourth session in a row. Turnover …
Photo Credit: Arabianeye-Reuters
24 May 10:06 PM EFG Hermes showing interest in Nomu-Parallel Market
By: Amr Adel Dubai - Mubasher: The Co-Head of EFG Hermes investment banking, Mohamed Fahmi, said that the group is interested in the Saudi Nomu-Parallel Market. Fahmi said in an answer to a question from Mubasher during a press event in Dubai that …
(Photo Credit: Arabianeye-Reuters)
24 May 03:31 PM Tadawul, Nomu close Wednesday on negative note
Riyadh – Mubasher: The main index of Saudi Stock Exchange (Tadawul) shed 0.5% or 34.94 points to 6,901.4 points at Wednesday’s close. Traded value reached SAR 2.02 billion on Wednesday through exchanging 107.2 million shares. The healthcare sector …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
24 May 07:51 AM GCC bourses likely to move sideways ahead of OPEC meeting
By: Mahmoud Gamal  Mubasher: The GCC bourses are expected to continue their sideways performance on Wednesday, as investors are waiting for the trend of oil prices following the meeting of the Organization of Petroleum Exporting Countries (OPEC) …
(Photo Credit: Arabianeye-Reuters)
23 May 03:35 PM Tadawul, Nomu end Tuesday in red
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) fell 0.73% or 51.28 points to 6,936.37 points at Tuesday’s close. Traded value rose to SAR 2.6 billion on Tuesday through exchanging 158.9 million shares. The energy sector …

Local News

Photo Credit: Arabianeye-Reuters
25 May 08:49 AM STC launches $500m independent fund
Riyadh – Mubasher: The Saudi Telecom Company (STC) said that its board members on Wednesday approved the establishment of an independent fund worth $500 million (SAR 1.87 billion). The fund will be financed in five equal tranches, each of which …
Photo Credit: Arabianeye-Reuters
24 May 07:34 PM Moody’s downgraded Hong Kong’s rating
Mubasher: Financial Services has downgraded Hong Kong’s rating on Wednesday, after recently cutting its rating on China, according to a recent report. The rating agency downgraded local and foreign currency ratings on Wednesday from AA2 to AA1, …
Photo Credit: Arabianeye-Reuters
24 May 06:43 PM Kuwaiti oil exports to China up 38% in April
Mubasher: Kuwait's crude oil exports to China surged 37.5% in April 2017 to 1.63 million tons, equivalent to around 397,000 barrels per day (bpd), government data showed, according to Kuwait News Agency (KUNA). Kuwaiti shipments of crude oil to …
Photo Credit: Arabianeye-Reuters
24 May 04:48 PM UAE supports extending the OPEC agreement - Minister
Abu Dhabi - Mubasher: The United Arab Emirates minister of energy, Suhail bin Mohammed Al Mazroui, said on Wednesday that his country supports extending the oil output cut agreement. The UAE is ready to endorse a six or a nine-month extension …
Photo Credit: Arabianeye-Reuters
24 May 03:52 PM Oman oil prices rise 89 cents
Mubasher: The price of Oman oil futures for July delivery went up by 89 cents per barrel today, according to the data of the Dubai Mercantile Exchange (DME). Data showed that Omani crude oil registered $53.24 per barrel (pb) on Wednesday, compared …

Gulf News

The market’s liquidity shrank by 53.1%
25 May 04:22 PM Boursa Kuwait indices fall in week
Kuwait – Mubasher: The price index of Boursa Kuwait went down 0.66% or 44.54 points to reach 6,687.53 points in the week ended 25 May, compared to 6,732.07 points in the week ended 18 May. The weighted and Kuwait-15 indices retreated 0.35% and …
The DFM's investment sector dropped 3.32% in a week
25 May 04:14 PM DFM main index down in week
Dubai – Mubasher: The benchmark index of the Dubai Financial Market (DFM) fell for the second week in a row to close at 3,327.13 points in the week ended 25 May 2017, 1.51% or 50.89 lower than in the previous week. The investment sector dropped …
Liquidity surged 21.98% to reach QAR 1.25 billion, from QAR 1.02 billion in the week before.
25 May 04:14 PM QSE gains QAR 3.4bn in week
Doha – Mubasher: The main index of the Qatar Stock Exchange (QSE) fell 0.42% to reach 10,060.52 points in the week ended 25 May 2017, against 10,103.35 points in the previous week. The market value rose 0.63% reaching QAR 540.86 billion ($148.39 …
Mama Shelter Dubai will have 201 rooms and 80 residences
25 May 03:20 PM Mama Shelter to open new hotel by 2020
Dubai – Mubasher: Mama Shelter plans to open a new hotel in Dubai’s downtown Business Bay in 2020, according to a statement. Mama Shelter Dubai will have 201 rooms and 80 residences. “We knew Dubai was the perfect destination for our eighth Mama …
Turnover reached SAR 2.59 billion
25 May 03:17 PM TASI extends losses to 4th session in row
Riyadh – Mubasher: The main index Tadawul All Shares Index (TASI) of the Saudi Stock Exchange (Tadawul) fell at Thursday’s close by 0.43% or 29.71 points to the level of 6,871.72 points, extending losses for the fourth session in a row. Turnover …
Moody's changed the rating outlook on Abu Dhabi’s government to stable from negative
25 May 03:04 PM Moody's affirms Abu Dhabi government rating at 'Aa2/P-1'
Abu Dhabi – Mubasher: Moody's Investors Service has affirmed the long- and short-term issuer ratings of Abu Dhabi’s government at "Aa2/P-1", according to a statement. The ratings agency changed the rating outlook on Abu Dhabi’s government to …
Americana’s board members have recommended paying 615 fils per share
25 May 02:54 PM Americana considers amending dividends maturity date
Kuwait – Mubasher: Kuwait Food – Americana on Thursday announced that it will amend the board’s recommendation of distributing dividends on the entitled shareholders. The amendments follow the new trading rules recently set by Boursa Kuwait and …
Photo Credit: Arabianeye-Reuters
25 May 02:48 PM Kuwait crude oil up 69 cents Wednesday – KPC
Kuwait – Mubasher: The price of Kuwait’s crude oil rose by 69 cents to settle at $50.97 per barrel (pb) on Wednesday, compared to $50.28 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). At the global …
QSE's main index slid 26.83 points at Thursday's close.
25 May 02:05 PM QSE ends Thursday down on real estate, telecoms sectors
Doha – Mubasher: The main index of the Qatar Stock Exchange (QSE) closed Thursday in the red zone, after losing 0.27% or 26.83 points to reach 10,060.52 points. Three sectors dropped, led by the real estate sector which retreated 6.48% as Ezdan …
(Photo archive)
25 May 01:58 PM One private transaction on Tadawul totals SAR 16m
Riyadh – Mubasher: One transaction privately executed on the Saudi Stock Exchange (Tadawul) on Al Rajhi’s shares on Thursday totalled SAR 15.58 million. The transaction saw the trading of 249,290 million of the company shares at SAR 62.50 per …