Saudi News

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22 May 04:29 PM Walaa changes company name
Riyadh – Mubasher: Saudi United Cooperative Insurance Company (Walaa) announced that it has changed its name, following the board’s recommendation and the shareholders’ approval. The company’s new name will be Walaa Cooperative Insurance Company, …
(Photo Credit: Arabianeye-Reuters)
22 May 04:11 PM Tadawul amends securities tick as of 4 June
Riyadh – Mubasher: The Saudi Stock Exchange’s (Tadawul) board approved the amendment of the securities tick starting from 4 June. As per the new amendment, values of current tick sizes shall be reduced, according to a bourse filing on Monday. …
(Photo Credit: Organisation website)
22 May 04:09 PM Bunge, ARASCO seek buying SAGO milling operations – Agency
Riyadh – Mubasher: US agricultural trader Bunge is aspiring to join in a bid for the Saudi Grain Organisation’s (SAGO) milling operations to show interest in the privatisation of the Kingdom's sole wheat and barley buyer, Reuters sources said. The …
(Photo Credit: Arabianeye-Reuters)
22 May 03:09 PM Tadawul extends, Nomu reverses early losses at Monday close
Riyadh – Mubasher: The main index of Saudi Stock Exchange (Tadawul) shed 0.04% or 2.88 points to 6,987.65 points at Monday’s close. Traded value fell to SAR 2.63 billion ($701 million) on Monday compared to SAR 3.06 billion ($815 million) on …
(Photo Credit: Arabianeye-Reuters)
22 May 02:44 PM Thob Al-Aseel IPO oversubscribed 150%
Riyadh – Mubasher: Thob Al-Aseel’s initial public offering (IPO) has been subscribed by 150.33% by a total value of SAR 383.3 million. The number of qualified subscribers reached 204 investors at a value of SAR 3 million at SAR 85 per share, …
(Photo Credit: Company website)
22 May 01:29 PM Private transaction executed on Jabal Omar at highest price
Riyadh – Mubasher: One transaction was privately executed on Jabal Omar Development’s shares  on the Saudi Stock Exchange (Tadawul) Monday, totalling SAR 3.97 million. The transaction saw the trading of 58,390 of the company’s shares at SAR 68 per …
(Photo Credit: Arabianeye-Reuters)
22 May 01:01 PM Qassim Agriculture OKs SAR 0.25/shr dividends for Q1
Riyadh – Mubasher: The board of directors of Qassim Agriculture Company on Monday approved the distribution of dividends at 25 halalas per share for the first quarter of 2017. Total distributions amount to SAR 7.5 million, and will be distributed …
(Photo Credit: Arabianeye-Reuters)
22 May 12:03 PM SAGO awards 3rd tender in 2017 to import 1.5m tonnes of barley
Riyadh – Mubasher: The Saudi Grains Organization (SAGO) has announced awarding its tender for importing 1.5 million tonnes of barley. The imported tonnes will come from Australia, North and South America, the European Union, and the Black Sea, …
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22 May 11:32 AM Sadara inks guarantee worth SAR 1.13bn for JV
Riyadh – Mubasher: Sadara Chemical Company (Sadara), the owner of Sadara Basic Services Company, signed a guarantee for 50% of the payment obligations of Saudi Hydrogen Peroxide Company (SHPCo). The guarantee is in relation to a SAR 1.13 billion …
(Photo Credit: Arabianeye-Reuters)
22 May 10:51 AM Riyad REIT proposes SAR 13m dividends for H1-17
Riyadh – Mubasher: Riyad REIT’s board recommended the distribution of cash dividends for the first half of 2017. The fund would pay dividends at SAR 0.26 per share, totalling SAR 13 million and representing 2.6% of the nominal value, according to …
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22 May 10:47 AM Tadawul, Nomu open Monday in red
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) shed 0.03% or 2.39 points to 6,988.14 points at Monday’s open. By 10:40 am KSA time, 34.17 million shares were exchanged through 11,040 transactions at a value of SAR 444.87 …
(Photo Credit: Company website)
22 May 10:20 AM Riyad REIT to acquire properties, raise capital
Riyadh – Mubasher: Riyad REIT’s board approved the acquisition of properties and recommended a capital hike to finance acquisitions. The REIT noted that the properties agreed on include Kempinski Riyadh Hotel Complex, which includes a five-star …
(Photo Credit: Company website)
22 May 09:36 AM SIEC inks MoU with Engaz Al Ittihad
Riyadh – Mubasher: Saudi Industrial Export (SIEC) signed on Sunday a memorandum of understanding (MoU) with Engaz Al Ittihad Mining Company. The signed deal involves the investment in the operation of the silica mine at an area of 15 square …
(Photo Credit: Arabianeye-Reuters)
22 May 09:28 AM UAE, KSA allocate $100m to WB women entrepreneurs fund
Mubasher: The UAE and Saudi Arabia have pledged a total of $100 million to a World Bank (WB) fund that will assist female entrepreneurs and small business owners in the Middle East, The Wall Street Journal reported. “This facility has clear …
(Photo Credit: Company Website)
22 May 09:10 AM Makkah Construction approves 25% annual dividends
Riyadh – Mubasher: Makkah Construction and Development said its extraordinary general meeting (EGM) approved 25% cash dividends or SAR 2.5 per share for the fiscal year ended 28 January 2017, according to a bourse statement. Dividends will be …

Mubasher Exclusive

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22 May 03:09 PM Tadawul extends, Nomu reverses early losses at Monday close
Riyadh – Mubasher: The main index of Saudi Stock Exchange (Tadawul) shed 0.04% or 2.88 points to 6,987.65 points at Monday’s close. Traded value fell to SAR 2.63 billion ($701 million) on Monday compared to SAR 3.06 billion ($815 million) on …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
22 May 07:33 AM Portfolio investors to invest in attractive GCC stocks
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to maintain their slight rise on Monday as portfolio investors are tending to increase their positions, amid anticipation of the performance of oil prices and global stocks, analysts …
(Photo Credit: Arabianeye-Reuters)
21 May 03:20 PM Tadawul extends early gains, Nomu keeps early losses at Sunday close
By: Al Sayed Gamal Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) rose 0.76% or 52.43 points to 6,990.53 points at Sunday’s close. Traded value increased to SAR 3.06 billion ($815 million) on Sunday compared to SAR 2.89 …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
21 May 07:40 AM GCC bourses likely to rise on Trump’s visit – Analysts
By: Mahmoud Gamal Mubasher: The GCC stock markets are expected to see increased speculations on Sunday, in line with the rise of oil prices and news of a possible decline in oil prices, analysts told Mubasher. Higher oil prices will push the GCC …
(Photo Credit: Arabianeye-Reuters)
18 May 03:30 PM Tadawul, Nomu end Thursday in red
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) shed 0.13% or 9.26 points to 6,938.10 points at Thursday’s close. Traded value decreased to SAR 2.89 billion ($770 million) on Thursday compared to SAR 3.73 billion ($994 …

Local News

(Photo Credit: Arabianeye-Reuters)
22 May 04:11 PM Tadawul amends securities tick as of 4 June
Riyadh – Mubasher: The Saudi Stock Exchange’s (Tadawul) board approved the amendment of the securities tick starting from 4 June. As per the new amendment, values of current tick sizes shall be reduced, according to a bourse filing on Monday. …
(Photo Credit: Arabianeye-Reuters)
22 May 12:03 PM SAGO awards 3rd tender in 2017 to import 1.5m tonnes of barley
Riyadh – Mubasher: The Saudi Grains Organization (SAGO) has announced awarding its tender for importing 1.5 million tonnes of barley. The imported tonnes will come from Australia, North and South America, the European Union, and the Black Sea, …
(Photo Credit: Company website)
22 May 10:20 AM Riyad REIT to acquire properties, raise capital
Riyadh – Mubasher: Riyad REIT’s board approved the acquisition of properties and recommended a capital hike to finance acquisitions. The REIT noted that the properties agreed on include Kempinski Riyadh Hotel Complex, which includes a five-star …
(Photo Credit: Arabianeye-Reuters)
22 May 09:28 AM UAE, KSA allocate $100m to WB women entrepreneurs fund
Mubasher: The UAE and Saudi Arabia have pledged a total of $100 million to a World Bank (WB) fund that will assist female entrepreneurs and small business owners in the Middle East, The Wall Street Journal reported. “This facility has clear …
The Central Bank of Egypt - (Photo Credit: Arabianeye-Reuters)
21 May 10:45 PM CBE raises interest rates 2%
Cairo - Mubasher: The Central Bank of Egypt's (CBE) Monetary Policy Committee (MPC) has decided, in its meeting on Sunday, to raise interest rates by 200 basis points, according to an official statement. This increases the overnight deposit rate, …

Gulf News

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39 minutes ago Al-Madina lowers its stake in Al-Salam Holding
Dubai - Mubasher: Al Madina for Finance and Investment has reduced its stake in Al Salam Group Holding from 15.43% to 14.31%. Al Salam Group’s capital amounts to AED 100.07 million distributed over 34.03 million shares, with a nominal value of AED …
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22 May 06:44 PM Kuwait’s tax revenues up 56%
Kuwait - Mubasher: The Kuwaiti Ministry of Finance said that total tax revenues grew by 56% in fiscal year 2016-2017. The ministry said in a statement on Monday that tax revenues reached KWD 225.8 million compared to KWD 144.5 million in FY15/16. …
Photo Credit: Arabianeye-Reuters
22 May 04:29 PM Walaa changes company name
Riyadh – Mubasher: Saudi United Cooperative Insurance Company (Walaa) announced that it has changed its name, following the board’s recommendation and the shareholders’ approval. The company’s new name will be Walaa Cooperative Insurance Company, …
(Photo Credit: Arabianeye-Reuters)
22 May 04:21 PM Drilling of iSuites project ongoing
Dubai – Mubasher: Schon Properties celebrated the continuation of the drilling works for the iSuites project, after a month of announcing a partnership with Al Hamad Group. After the foundations for the project were completed, the drilling …
(Photo Credit: Company's Facebook official page)
22 May 04:17 PM Twofour54 authorises Aldar to develop new home in Yas Island
Abu Dhabi – Mubasher: Twofour54 on Monday announced appointing Aldar Properties Company to develop its new permanent headquarter in Yas Island. The area to be initially covered is 95,000 square metres, and is expected to grow over 300,000 square …
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22 May 04:17 PM PetroGulf incurs losses in Q1-17
Kuwait – Mubasher: Gulf Petroleum Investment (PetroGulf) suffered a loss of KWD 2.3 million ($7.6 million) during the first quarter of 2017, against profits worth KWD 4.3 million ($14.1 million) in the same period of the prior year. The company …
(Photo Credit: Arabianeye-Reuters)
22 May 04:11 PM Tadawul amends securities tick as of 4 June
Riyadh – Mubasher: The Saudi Stock Exchange’s (Tadawul) board approved the amendment of the securities tick starting from 4 June. As per the new amendment, values of current tick sizes shall be reduced, according to a bourse filing on Monday. …
(Photo Credit: Organisation website)
22 May 04:09 PM Bunge, ARASCO seek buying SAGO milling operations – Agency
Riyadh – Mubasher: US agricultural trader Bunge is aspiring to join in a bid for the Saudi Grain Organisation’s (SAGO) milling operations to show interest in the privatisation of the Kingdom's sole wheat and barley buyer, Reuters sources said. The …
Photo Credit: Arabianeye-Reuters
22 May 03:11 PM National Investments denies CEO stake buy in Osos
Kuwait – Mubasher: National Investments has denied a recent article published in a local newspaper on Monday stipulating that the company’s CEO has purchased a stake in Osos Holding. National Investments clarified that the 95,000 shares bought in …
(Photo Credit: Arabianeye-Reuters)
22 May 03:09 PM Tadawul extends, Nomu reverses early losses at Monday close
Riyadh – Mubasher: The main index of Saudi Stock Exchange (Tadawul) shed 0.04% or 2.88 points to 6,987.65 points at Monday’s close. Traded value fell to SAR 2.63 billion ($701 million) on Monday compared to SAR 3.06 billion ($815 million) on …