Saudi News

The company now has a total licensed capacity of about 700 beds
26 September 06:48 PM NMC acquires 3 hospitals in KSA, obtains all approvals
Abu Dhabi- Mubasher: NMC Health announced on Monday that it has received all regulatory approvals for its long-term care facility, Chronic Care Specialty Medical Center (CCSMC), in Jeddah, KSA. CCSMC is believed to be one of the first Greenfield …
Alwaleed has topped the same list for nine years in a row
26 September 04:48 PM Alwaleed tops list for most influential Arabs
Riyadh - Mubasher: Prince Alwaleed bin Talal has been ranked number one in Middle East Magazine’s 2017 list of the World’s 50 Most Influential Arabs, for the ninth consecutive year. The chairman of Kingdom Holding Company (KHC) and Alwaleed …
Tadawul’s turnover increased to SAR 2.81 billion ($749 million) on Tuesday
26 September 04:38 PM TASI closes Tuesday higher; NOMU falls
Mubasher: The benchmark Tadawul All Share Index (TASI) of the Saudi Stock Exchange (Tadawul) closed Tuesday’s trading session 0.22% or 15.97 points higher at 7,240.1 points. Tadawul’s turnover increased to SAR 2.81 billion ($749 million) on …
Zain and Mobily continue to work on controlling costs
26 September 02:12 PM STC remains defensive pick as telecom earnings drop in Q3 – Report
Riyadh – Mubasher: Al Rajhi Capital on Tuesday said that the Saudi telecommunications sector is likely to witness a drop in earnings for the third quarter of 2017. Factors that lead to this decline include; longer than usual school holidays, …
SIECO will export Wafrah's products to Iraq, Jordan, and North Africa.
26 September 12:27 PM Wafrah, SIECO sign 1Y distribution contract
Riyadh – Mubasher: Wafrah for Industry and Development on Monday signed a sales and distribution agreement with Saudi Industrial Export company (SIECO) to export its products to Iraq, Jordan, and North Africa. The agreement term is one year, …
The price of Brent crude oil rose by 4%
26 September 12:08 PM Kuwait crude oil up 56 cents Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 56 cents to reach $54.06 per barrel (pb) on Monday compared to $53.50 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). The price of Brent crude oil …
Saudi Arabia's minister of finance Mohammed Al-Jadaan
26 September 10:38 AM Aramco IPO to launch in 2018 - Al-Jadaan
Riyadh – Mubasher: Saudi Arabia's minister of finance Mohammed Al-Jadaan told bond investors on Monday during a presentation that the initial public offering (IPO) of the Saudi Arabian Oil Company (Saudi Aramco) will be carried on as planned in …
Bank Albilad to distribute SAR 0.3/shr dividends for H1-17
26 September 09:47 AM Bank Albilad to distribute SAR 0.3/shr dividends for H1
Riyadh – Mubasher: Bank Albilad’s board of directors approved the distribution of dividend totalling SAR 180 million to shareholders for the first half of 2017. The bank will distribute dividends at SAR 0.3 per share, representing a par value of …
Brent futures went up by 3.9% to $59.13 per barrel
26 September 01:13 AM Brent jumps 4%, breaks $59 level
Mubasher: Brent crude oil rose by 4% during Monday trade, surpassing the level of $59, amidst a dominant positive sentiment, as investors are optimistic regarding cutting output. By 9:34 PM (GMT), Brent futures went up by 3.9% to $59.13 per barrel …
Trump is expected to propose cutting corporate tax rate to 20%
26 September 12:27 AM Trump to unveil more tax reform details Wednesday
Mubasher: US president Donald Trump is set to reveal new details of his tax reform plan on Wednesday, according to the White House. The White House press secretary Sarah Huckabee Sanders said in a press conference on Monday that Trump will give a …
Gold futures went up by 1.1% to its highest level in 10 days
26 September 12:22 AM Gold prices surge on rising geopolitical risks
Mubasher: Gold prices have risen by the end of Monday trade, increasing by around $14 and exceeding the level of $1,300, as more geopolitical risks are rising with North Korea threatening to target American Aircrafts. Gold futures went up by 1.1%, …
Earnings growth shifts down a gear turning outlook on global oil and gas sector stable
25 September 11:42 PM Moody's expects lower return growth for oil, gas sectors
Mubasher: An expected slowdown in the pace of earnings growth has moved the 2018 outlook on the global integrated oil and gas industry to stable from positive, Moody's Investors Service said in a report published Monday. The slowdown follows a …
AccorHotels currently has more than 100 hotels in the MENA region
25 September 08:38 PM AccorHotels opened 12 new hotels in 2017
Dubai – Mubasher: AccorHotels announced on Monday that it has inaugurated 12 hotels so far this year, according to press release. The company’s hotels portfolio in MENA region has now surpassed more than 100 hotels. As per the statement, the new …
Khazzan Gas Field
25 September 06:22 PM BP launches production in Oman’s Khazzan gas field
Mubasher: BP announced on Monday that it has begun production at the Khazzan gas field in Oman, according to a company statement. The Omani oil and gas minister said that BP has successfully delivered the first phase of the project on time, adding …
Al Akaria, TYPSA ink SAR 11m deal to design hotel complex
25 September 06:15 PM Al Akaria, TYPSA ink SAR 11m deal to design hotel complex
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) on Monday, 25 September signed a SAR 10.9 million ($2.9 million) agreement with Tecnica Y Proyectos S.A. (TYPSA) to design a mixed-use hotel complex. The project will be located in North …

Mubasher Exclusive

The third quarter of 2017 is nearing its close, which means that financial disclosures will prompt portfolios to purchase stocks
24 September 09:01 AM Saudi, Kuwaiti stocks likely to rise ahead of FTSE results - Analysts
By: Mahmoud Gamal Mubasher: Gulf bourses are likely to rise this week with listings on the FTSE Emerging Markets Index coming in focus, analysts told Mubasher. GCC stock markets are heading towards a “temporary rise”, particularly Saudi and …
The food and beverages sector went down 3.34%, followed by banks with 0.48%, telecommunication services with 0.21%, and materials with 0.04%
13 September 11:34 AM TASI, Nomu down at Wednesday open
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) opened Wednesday in the red zone after its main Tadawul All Share Index (TASI) levelled down 0.43% or 31.7 points reaching 7,368.29 points. By 10:45 am KSA time, 16 million shares were …
TASI dropped 0.15% or 11.32 points to 7,399.98 points
12 September 04:21 PM TASI, NOMU close Tuesday in red
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) closed Tuesday in the red after its main Tadawul All Share Index (TASI) dropped 0.15% or 11.32 points to 7,399.98 points. TASI’s traded volume declined to 129.68 million shares exchanged on …
DAMAC has already delivered 1,100 residential units in its DAMAC Hills
11 September 08:05 PM DAMAC eyes delivery of 2,800 units in 2017 – Interview
By: Amr Adel Dubai – Mubasher: DAMAC Properties is looking to deliver 2,800 units in 2017, said senior VP of International Business Development Wael Al-Lawati on Monday during the first day of the Cityscape Global 2017 event held in Dubai. DAMAC …
Nama Chemicals’ stock hits highest level in 4M
10 September 12:46 PM Nama Chemicals’ stock hits highest level in 4M
Riyadh – Mubasher: Nama Chemicals’ stock rose for the fourth session in row, registering its highest level in four months, or since 11 May 2017 during Sunday’s trading activities, to lead the green zone of the Saudi Stock Exchange (Tadawul). By …

Happening Now

The UAE’s economy will not be negatively impacted by other GCC members not implementing the value added tax (VAT)
24 September 02:28 PM GCC members not applying VAT not to impact UAE – Al Bustani
Abu Dhabi – Mubasher: The UAE’s economy will not be negatively impacted by other GCC members not implementing the value added tax (VAT), Emarat Al Youm newspaper reported, citing Federal Tax Authority (FTA) director general Khalid Al Bustani as …

Local News

The company now has a total licensed capacity of about 700 beds
26 September 06:48 PM NMC acquires 3 hospitals in KSA, obtains all approvals
Abu Dhabi- Mubasher: NMC Health announced on Monday that it has received all regulatory approvals for its long-term care facility, Chronic Care Specialty Medical Center (CCSMC), in Jeddah, KSA. CCSMC is believed to be one of the first Greenfield …
Alwaleed has topped the same list for nine years in a row
26 September 04:48 PM Alwaleed tops list for most influential Arabs
Riyadh - Mubasher: Prince Alwaleed bin Talal has been ranked number one in Middle East Magazine’s 2017 list of the World’s 50 Most Influential Arabs, for the ninth consecutive year. The chairman of Kingdom Holding Company (KHC) and Alwaleed …
The price of Brent crude oil rose by 4%
26 September 12:08 PM Kuwait crude oil up 56 cents Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 56 cents to reach $54.06 per barrel (pb) on Monday compared to $53.50 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). The price of Brent crude oil …
Saudi Arabia's minister of finance Mohammed Al-Jadaan
26 September 10:38 AM Aramco IPO to launch in 2018 - Al-Jadaan
Riyadh – Mubasher: Saudi Arabia's minister of finance Mohammed Al-Jadaan told bond investors on Monday during a presentation that the initial public offering (IPO) of the Saudi Arabian Oil Company (Saudi Aramco) will be carried on as planned in …
Trump is expected to propose cutting corporate tax rate to 20%
26 September 12:27 AM Trump to unveil more tax reform details Wednesday
Mubasher: US president Donald Trump is set to reveal new details of his tax reform plan on Wednesday, according to the White House. The White House press secretary Sarah Huckabee Sanders said in a press conference on Monday that Trump will give a …

Gulf News

Photo Archive
58 minutes ago CI maintains ADCB rating at A; outlook stable
Abu Dhabi - Mubasher: Capital Intelligence Ratings (CI) has affirmed the financial strength rating (FSR) of Abu Dhabi Commercial Bank (ADCB) at 'A', according to a report issued on Tuesday. The ratings agency also maintained the bank’s foreign and …
The Central Bank of Kuwait
3 hours ago Financial stability cannot be in place of reforms - CBK
Mubasher: The governor of the Central Bank of Kuwait (CBK) said on Tuesday that the stability of the local currency market is not adequate nor is it a replacement for much needed structural and economic reforms. Mohammad Al-Hashel said during his …
Photo Archive
4 hours ago Kuwaiti government saved KWD1bn in 16/17 - Minister
Kuwait - Mubasher: The Kuwaiti deputy Prime Minister and minister of finance, Anas Al-Saleh said on Tuesday that despite challenges facing the Kuwaiti economy, over KWD 1 billion ($3.27 billion) were saved in the government’s expenditure between …
The company now has a total licensed capacity of about 700 beds
26 September 06:48 PM NMC acquires 3 hospitals in KSA, obtains all approvals
Abu Dhabi- Mubasher: NMC Health announced on Monday that it has received all regulatory approvals for its long-term care facility, Chronic Care Specialty Medical Center (CCSMC), in Jeddah, KSA. CCSMC is believed to be one of the first Greenfield …
he new tower will be built over 39,000 square feet
26 September 06:46 PM RAK Properties launches new project in Hayat Island
Abu Dhabi – Mubasher: RAK Properties on Tuesday announced the launching of its new North Bay Residence Tower project in Hayat Island. The new tower will be built over 39,000 square feet, the company said in a bourse statement, noting that the …
He noted that the construction works will be completed within 870 days, according to the newspaper
26 September 06:39 PM SZHP launches AED 1bn bids – Official
Abu Dhabi – Mubasher: Sheikh Zayed Housing Programme (SZHP) plans to offer two bids to launch two projects in Dubai and Ras Al-Khaimah in the first half of next October. The two bids cost more than AED 1 billion and comprise 884 housing units, …
The Central Bank of Kuwait
26 September 06:37 PM CBK issues KWD140m t- bonds
Kuwait - Mubasher: The Central Bank of Kuwait (CBK) announced on Tuesday issuing six-month treasury bonds worth KWD 140 million. CBK said that the return on the bonds amounted to 1.87%, and that it was oversubscribed by 5700%, with total demand …
Taqi also stressed that cancellations and defaulting rates are below 5%
26 September 06:08 PM DAMAC aims to reduce debt to $1.3bn - CFO
By: Amr Adel Dubai – Mubasher: DAMAC Properties aims at reducing the current debt level from $1.4 billion (AED 5.1 billion) to $1.3 billion (AED 4.7 billion) by the end of 2017. The debt volume is less than half of the equity, which affirms the …
The delisting decision is due to the incapability of raising its capital to KWD 10 million
26 September 05:42 PM Kuwait Gypsum to consider delisting late October
Mubasher: Kuwait Gypsum Manufacturing and Trading will hold its board meeting on 27 October to discuss its withdrawal from Boursa Kuwait (Parallel Market). On 21 February, the board members approved the recommendation of delisting from the stock …
The board decided not to acquire Sweets and Restaurants Zalatimo
26 September 05:33 PM Ajwan board nods to KWD 1.2m takeover deals
Mubasher: The board of Ajwan Gulf Real Estate approved acquiring two companies for a total of KWD 1.2 million. The real estate firm will acquire International Expertise Catering Co and a 70% stake in Emaar Food Group Co., according to a bourse …