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NUPCO presented its new identity in a ceremony held in Riyadh
5 March 04:10 PM NUPCO launches new brand
By: Haitham Seliman Riyadh – Mubasher: The National Unified Procurement Company (NUPCO), which is fully-owned by Saudi Arabia’s Public Investment Fund (PIF), on Thursday celebrated its new identity as it aspires to be a major player in the Saudi …
MSME finances amounted to SAR 117.26 billion last year
5 March 03:44 PM MSME finances in Saudi Arabia grow 8% in 2019 - SAMA
Riyadh – Mubasher: Financing micro, small, and medium-sized enterprises (MSMEs) in Saudi Arabia increased by 8.05% or SAR 8.74 billion by the end of the fourth quarter (Q4) of 2019. Total finances amounted to SAR 117.26 billion by the end of last …
Loans amounted to SAR 317.27 billion in Q4-19
3 March 04:24 PM Real estate loans in KSA leap 25% in Q4-19
Riyadh – Mubasher: Credit facilities granted by commercial banks and real estate finance companies to Saudi nationals soared by 24.6% or SAR 62.2 billion ($16.7 billion) year-on-year (YoY) during the fourth quarter (Q4) of 2019.       The total …
Commercial loans reached SAR 333.44 billion by the end of last year
3 March 03:31 PM Saudi retail loans up 3.8% in Q4-19
Riyadh – Mubasher: Retail loans in Saudi Arabia increased by the end of the fourth quarter (Q4) of 2019 by 3.8% or SAR 12.15 billion compared with Q4-18. Commercial loans reached SAR 333.44 billion by the end of last year, compared with SAR 321.29 …
The main index closed Monday's session at 7,349 points
2 March 05:01 PM Tadawul closes Monday on marginal gains
By: Bedour Alrai Mubasher: The Saudi Stock Exchange (Tadawul) recorded a marginal rise at the end of Monday’s trading session, failing to hold its earlier gains. The Tadawul All Share Index (TASI) levelled up by 0.06% or 4.09 points and closed at …
The UAE accounted for 26.6% of the fund’s investments by the end of 2019
29 February 03:12 PM Norway’s sovereign fund raises investments in GCC markets
Mubasher: Norway’s sovereign wealth fund, the largest in the world, increased its investments in the GCC region by 15.2% or $440 million by the end of last year. Official data showed that the fund’s investments in the region reached $3.33 billion …
The Saudi main index lost 379 points or 4.7% over the course of the week
28 February 11:55 AM Tadawul sees worst weekly losses since August
Mubasher: The Saudi Stock Exchange (Tadawul) ended the last week of February on the worst decline in 26 weeks, over fears about the coronavirus. The Tadawul All Share Index (TASI) lost 4.73% or 379 points, its biggest loss since the week ended on …
The project is expected before the end of next June
26 February 03:43 PM UAE’s Arada plans new investment in Saudi Arabia in H1-20
Riyadh – Mubasher: Arada Real Estate Company plans to pump new investments in Riyadh by the end of the first half (H1) of the year, as it sees promising opportunities in the Saudi market. The UAE-based company is still in talks with Saudi …
Saudi tourism industry could see investments of SAR 115 billion
24 February 03:31 PM SCTH promises more reforms in tourism sector
Riyadh – Mubasher: Chairman of the Saudi Commission for Tourism and National Heritage (SCTH), Ahmed Al Khatib, said that around SAR 115 billion are ready to be invested in the tourism sector. Investments would be through the tourism development …
Saudi Minister of Economy and Planning, Mohammad Al Tuwaijri
24 February 02:57 PM Saudi Arabia encouraging investment through 3 pillars – Minister
Riyadh – Mubasher: Saudi Arabia is moving from the phase of studies to implementation when it comes to exerting efforts to create a suitable environment to attract investments, said the Saudi Minister of Economy and Planning, Mohammad Al Tuwaijri. …
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18 February 10:20 AM Saudi oil exports down 10.75% in 2019
Riyadh – Mubasher: Saudi Arabia’s oil exports decreased by 10.75% last year, as shown by the Joint Organisations Data Initiative (JODI) figures. Total exports, including crude oil and petroleum products, declined by 366.59 million barrels per day …
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17 February 04:44 PM Steel prices rise second month in row; cement at 38M-high
Riyadh – Mubasher: Average steel prices in Saudi Arabia increased in January 2020, reaching its highest level in four months, while cement prices maintained its upward trend for the fifth consecutive months to a new three-year high. Steel prices …
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17 February 03:55 PM Brokerages profits surge 25.5% in Q4
Riyadh – Mubasher: Brokerage companies, licensed by the Saudi Capital Market Authority (CMA), have recorded a growth in earnings during the fourth quarter (Q4) of 2019 by 25.5% year-on-year (YoY) to SAR 780.93 million. On a quarterly basis, net …
13 February 01:15 PM MWC 2020 cancelled over coronavirus worries
The Mobile World Congress (MWC) scheduled to be held in Barcelona on 24-27 February 2020 has been cancelled
Saudi Arabian Monetary Authority (SAMA)
3 February 04:49 PM Saudi bank deposits rise 7.3% in 2019
Riyadh – Mubasher: Banking deposits in Saudi Arabia recorded an annual growth of 7.3% or SAR 122.47 billion during 2019, according to official data. Bank deposits registered SAR 1.795 trillion last year, compared with SAR 1.674 trillion in 2018, …
Photo Archive
2 February 03:37 PM Savings in KSA down 2.4% in 9M
Riyadh – Mubasher: Saving in Saudi Arabia declined by around 2.4% or SAR 18.4 billion during the first none months of last year to SAR 751.76 billion, compared to SAR 770.18 billion for the same period in 2018. This mainly resulted from a decrease …
Saudi Arabian Monetary Authority (SAMA)
30 January 02:42 PM Saudi banks increase investments in gov’t bonds
Riyadh – Mubasher: Saudi banks increased their purchases of government bonds during 2019 by around 55.1% or SAR 27.91 billion to a total of SAR 78.52 billion, compared with SAR 50.61 billion in 2018. Total bank investments in Saudi bonds grew by …
Loans amounted to SAR 79.13 billion last year
30 January 02:22 PM Saudi mortgage loans value rises 168% in 2019
Riyadh – Mubasher: Retail mortgage loans in Saudi Arabia surged by 168.2% last year, as shown by the data of the Saudi Arabian Monetary Authority (SAMA). Mortgage loans provided for Saudi citizens to buy a new house grew to SAR 79.13 billion in …
FDI inflows to Egypt from KSA amounted to $69.3 million in Q1-FY19/20
29 January 02:27 PM Saudi FDI in Egypt down 43% in 3M
Mubasher: Net foreign direct investment (FDI) inflows from Saudi Arabia to Egypt decreased by 43.4% during the first quarter (Q1) of the fiscal year (FY) 2019/2020, as shown by the data of the Central Bank of Egypt (CBE). Data showed that Saudi …
Finastra's solutions cover 90% of banks’ needs
20 January 11:19 AM Interview: We look to repeat Finastra Egypt Digital Trade Forum – Serge Tohme
Mubasher: Finastra was founded in 2017 from the merger of two fintech giants, D+H, a leading financial technology provider and Misys, which provides software solutions focused on retail and corporate banking services. Serge Tohme, Managing …
US Department of the Treasury
19 January 01:35 PM Saudi Arabia raises investments in US treasury bonds
Riyadh – Mubasher: Saudi Arabia has increased investments in US treasury bonds by 5.77% year-on-year (YoY) last November, as shown by official data. Saudi investments in US treasury bonds amounted to $179.7 billion, compared with SAR 169.9 billion …
Iron prices have dropped by EGP 300 per tonne since the beginning of the week
15 January 03:28 PM Iron prices to further decline as EGP levels up
By: Abdullah Bedeir Cairo – Mubasher: Iron prices are expected to further decline in the coming period, Ahmed El-Zeiny, the head of chamber of building materials at the Federation of Egyptian Chambers of Commerce (FEDCOC) told Mubasher. With the …
The benchmark index of the Saudi exchange lost 74.86 points today
8 January 05:11 PM TASI loses 0.91% at Wednesday's close on geopolitical risks
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended Wednesday’s trading session in decline, on the back of a positive performance by most market sector due to rising geopolitical tensions across the region. The Tadawul All Share Index …
The Industrial Production (IIP) recorded 125.12 points
8 January 04:01 PM Saudi Arabia’s IIP down 4.3% in November – GaStat
Riyadh – Mubasher: The Saudi Index of Industrial Production (IIP) declined by 4.3% on a monthly basis during last November. The monthly bulletin by the General Authority for Statistics (GaStat) for November showed that the index recorded 125.12 …
Bank credit recorded SAR 1.532 trillion by the end of last November
8 January 12:34 PM Bank credit in Saudi Arabia up 5.3% in November
Riyadh – Mubasher: Bank credit in Saudi Arabia grew by 5.3% year-on-year (YoY) by the end of November, increasing by SAR 77.42 billion to SAR 1.532 trillion, compared with SAR 1.455 trillion in November 2018. On a monthly basis, bank credit …