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Virgin Hyperloop is working on building an ultra-high-speed transport network in the kingdom
1 hour ago Saudi projects aren't cancelled - Virgin Hyperloop One
Riyadh – Mubasher: Virgin Hyperloop One on Sunday has denied reports by the Financial Times (FT) that its project in Saudi Arabia was cancelled. Virgin Hyperloop is working on building an ultra-high-speed transport network in the oil-rich kingdom. …
Net losses amounted to SAR 30.9 million in the three-month period ended September
2 hours ago Mobily narrows losses to SAR 30m in Q3
Riyadh – Mubasher: Etihad Etisalat Company (Mobily) on Sunday reported a sharp decrease in losses by 82.3% for the third quarter of 2018. Net losses amounted to SAR 30.9 million in the three-month period ended September, compared to SAR 174.5 …
Net profits amounted to SAR 729 million during the three-month period ended September
2 hours ago Yanbu National Petrochemical reports SAR 2.18bn profit in 9M
Riyadh – Mubasher: Yanbu National Petrochemical Company (YANSAB) on Sunday reported a 13.1% year-on-year profit growth for the third quarter of 2018. Net profits amounted to SAR 729 million during the three-month period ended September, from SAR …
Kayan attributed the thord-quarter profit increase to the improvement in operating performance
2 hours ago Saudi Kayan logs SAR 1.8bn profit in 9M
Riyadh – Mubasher: Saudi Kayan Petrochemical Company on Sunday posted a 23.85% year-on-year profit growth for the third quarter of 2018. Net profits amounted to SAR 471.9 million in the three-month period ended September, compared to SAR 381.03 …
TASI’s traded volume amounted to 188.75 million shares on Sunday
2 hours ago TASI rises modestly, Nomu drops at Sunday’s close
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) closed Sunday’s trading session in green territory, after its benchmark Tadawul All Share Index (TASI) grew 0.16%, or 12 points, to 7,660.21 points, after two consecutive drops. TASI’s traded …
The first plan for this service includes speeds of up to 20 Mbps
3 hours ago Zain launches BEAM internet service among 5G adoption steps
Mubasher: Mobile Telecommunications (Zain) has launched the new high-speed wireless Internet service BEAM, according to a recent statement. BEAM service is expected to use advanced wireless broadband technology, as part of the steps Zain is …
Abu Dhabi Investment Authority (ADIA) came in the third rank with $683 billion in assets
3 hours ago Saudi Arabia’s PIF ranks 10th among world’s peers
Riyadh – Mubasher: Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), ranked the 10th among the world's largest sovereign wealth funds (SWFs). PIF’s total assets stood at $360 billion, acquiring 10.8% of the world’s total value by …
The GCC’s fiscal balance is forecast to turn to a surplus in 2019
4 hours ago Higher oil returns to slash GCC budget deficit 82% in 2018 – KAMCO
Mubasher: Higher oil revenues are expected to reduce GCC budget deficit this year by 82% to $14 billion compared to $79 billion in the full-year 2017, KAMCO said in a recent report, citing the International Monetary Fund’s (IMF) general government …
Edge Holding to invest EGP 20bn in New Administrative Capital, New Alamein
01:08 PM Edge Holding to invest EGP 20bn in 4 years across New Administrative Capital, New Alamein
By: Abdullah Bedeir Cairo – Mubasher: Edge Holding for Urban Development has unveiled plans to invest around EGP 20 billion ($1.116 billion) in projects across the New Administrative Capital and Al Alamein City, a top official has said. The …
The action comes after the cabinet's decision stipulated that dues owed to Saudi Aramco will be settled from its profit share in SEC
12:33 PM Arabian American Oil will benefit from future dividends – SEC
Riyadh – Mubasher: Saudi Electricity Company (SEC) on Sunday announced that the Arabian American Oil Company (Aramco) will start receiving future dividends from the company. The action comes after the cabinet's decision stipulated that dues owed …
The UAE is the key destination for Indian gold jewellery
12:08 PM India’s gold imports rise on new duty concerns
Mubasher: India’s gold imports witnessed a surprise hike in the last three-month period ended September on speculation that domestic jewellery manufacturers and traders are hoarding the yellow metal lest a further hike in gold import duty. India, …
TASI retreated 173.23 points, or 2.3%, reaching 7,474.92 points
11:04 AM Saudi indices open Sunday in red
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) started Sunday’s trading session in negative territory, dragged by a massive drop of all sectors. The benchmark Tadawul All-Share Index (TASI)  retreated 173.23 points, or 2.3%, to 7,474.92 …
Al Waha Petrochemical is 75%-owned by Saudi-listed Sahara
11:01 AM Sahara Petrochemical unit suffers SAR 14m technical glitch
Riyadh – Mubasher: Sahara Petrochemical Co. on Sunday said that one of its subsidiaries had suffered a technical issue on Friday, 19 October. Sahara’s unit Al Waha Petrochemicals Company incurred a technical issue in the propane de-hydrogenation …
Revenues fell by 7.24% in the January-September period of this year
09:54 AM Arriyadh Development profit slips 4% in 9M
Riyadh – Mubasher: Arriyadh Development Company on Sunday posted a 4.05% year-on-year drop in net profits during the first nine months of 2018. Net profit stood at SAR 130 million in the nine-month period ended September, versus SAR 135.5 million …
National Medical Care appoints new CEO
09:51 AM National Medical Care appoints new CEO
Riyadh – Mubasher: National Medical Care Co. on Sunday announced the resignation of its CEO and the appointment of a new one. CEO Raed Abdullah Altamimi has resigned his post, the firm said in a statement to the Saudi Stock Exchange (Tadawul), …
Sipchem profits nearly double in 9M
09:35 AM Sipchem profits nearly double in 9M
Riyadh – Mubasher: Saudi International Petrochemical (Sipchem) on Sunday posted robust financial results for the nine-month period ended 30 September 2018 and the third quarter of the year. The petrochemical maker achieved a 98.9% surge in net …
Photo Archive
20 October 07:45 PM Dar Al-Arkan seeks licensing for 3 projects in Riyadh
Mubasher: Dar Al Arkan has announced that it has submitted a request to ETMAM, the Developers Services Centre at the Saudi Ministry of Housing, for the accreditation of three comprehensive development projects in Shams Al Riyadh, totaling over …
19 October 11:36 PM Kaplan: 2 or 3 interest hikes will be neutral
Dallas Federal Reserve President Robert Kaplan expressed on Friday his support for more interest hikes by American monetary policymakers
19 October 11:33 PM Carney: Fed raising interest for good reasons
The Governor of the Bank of England, Mark Carney said on Friday that the United States Federal Reserve is raising interest rates for valid reasons
19 October 11:28 PM Oil narrows weekly losses
Crude inventories in the United States rose by 6.5 million barrels last week
19 October 10:05 PM Gold settles lower, records weekly gains
The precious metal saw some selling pressures as the USD neared its highest level in two months
19 October 09:59 PM Renewables in India to grow 5% by 2022
Rising interest rates are putting a question mark on the viability of solar projects
19 October 06:23 PM Goldman Sachs forecasts 5 more Fed rate hikes
Goldman believes the Federal Reserve needs to generate a significant tightening in financial conditions
19 October 05:57 PM Robust aero, warehouse automation sales boost Honeywell Q3 profit
Mubasher: Honeywell International Inc on Friday reported better-than-expected profits for the third quarter of this year
19 October 04:39 PM InterContinental Hotels revenue up 1% in Q3
Mubasher: InterContinental Hotels Group PLC on Friday posted a 1% year-on-year increase in the comparable revenue per available room for the third quarter of 2018.