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15 April 03:36 PM CNG car sales in India up on rising fuel prices
SRC reportedly completed a dual tenor of seven- and 10-year sukuk issuances
15 April 03:13 PM Fitch assigns Saudi Real Estate Refinance first-time 'A' IDR
Riyadh – Mubasher: Fitch Ratings has placed Saudi Real Estate Refinance Company (SRC) a long-term issuer default rating (IDR) of 'A', with negative outlook. As for the company’s operating performance, Fitch expected SRC's capitalisation to remain …
Jarir’s store expansion plan will likely drive its market share
15 April 02:22 PM Jarir’s TP raised to SAR 231/shr on expansion
Riyadh – Mubasher: Al Rajhi Capital Research has revised its outlook for Jarir Marketing Company (Jarir Bookstores) and raised the target price (TP) to SAR 231 per share. The research entity said Jarir’s store expansion plan will likely drive its …
The two entities will roll out a joint servicing model
15 April 02:09 PM Riyad Capital partners with BNP Paribas Securities for asset services
Riyadh – Mubasher: Saudi closed joint stock firm Riyad Capital entered into an agreement with BNP Paribas Securities Services to provide global custody, as well as fund and consolidated data management services across Saudi Arabia. The two …
15 April 01:44 PM Eastern Europe’s construction industry likely to grow 3.6% in 2021
The activities in oil-exporting coutries are expected to recover in 2021
15 April 01:33 PM IMF expects MENA real GDP to grow 4% in 2021
Mubasher: The International Monetary Fund (IMF) has upgraded its outlook for the real gross domestic product (GDP) growth in the MENA region to 4% in 2021, compared to its October projection of 3.2%. The real GDP growth of the GCC countries is …
15 April 01:14 PM Dell to get up to $9.7bn following VMWare stake spinoff
Mubasher: Dell Technologies Inc plans to spin off its 81% equity ownership in cloud computing and virtualization software firm VMware.
The first bond issuance is expected to take place in Q1-22
15 April 01:00 PM Aramco’s oil pipeline investors to refund loans with bonds in 2022
Riyadh – Mubasher: EIG Global Energy Partners will lead a consortium to issue billions of dollars in bonds over two or three transactions to refinance loans for investment in the Saudi Arabian Oil Company’s (Saudi Aramco) oil pipeline assets, …
Alinma Fund’s termination agreement was signed on 12 November 2020
15 April 12:30 PM Al Akaria liquidates Alinma Fund within two months
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) is working on liquidating and terminating Alinma Fund within two months, according to a disclosure to Tadawul on Thursday. The company is also planning to transfer the ownership of …
The outstanding orders for Aldrees will be cancelled
15 April 12:01 PM Tadawul announces fluctuation limit for Aldrees
Riyadh – Mubasher: The Saudi Exchange (Tadawul) said the fluctuation limit for Aldrees Petroleum and Transport Services Company’s stock will be based on a share price of SAR 60.8, according to a disclosure on Thursday. The outstanding orders will …
The WPI was higher by 0.8% on a monthly basis
15 April 11:56 AM Saudi wholesale price index up 8.7% YoY in March
Riyadh – Mubasher: Saudi Arabia’s Wholesale Price Index (WPI) for March 2021 rose 8.7% year-on-year (YoY), according to the Saudi General Authority for Statistics (GaStat). The WPI was also higher by 0.8% compared with its 7.3% reading for …
Consumer prices continue to reflect the VAT increase
15 April 11:32 AM Saudi Arabia’s inflation registers nine-month low at 4.9% in March
Riyadh – Mubasher: The consumer price index (CPI) of Saudi Arabia registered a 4.9% increase in March 2021 up from the same month last year, official data showed on Thursday. The inflation rate eased compared with its 5.2% reading in February and …
Aldrees aims to meet the size of its business
15 April 11:05 AM Aldrees’ shareholders approve SAR 150m capital hike
Riyadh – Mubasher: The shareholders of Aldrees Petroleum and Transport Services Company gave the green light for increasing the capital by 25% or SAR 150 million, according to a bourse disclosure on Thursday. The company will raise the capital to …
Al Jazira Capital has been appointed as the financial advisor for the offering
15 April 10:38 AM Batic seeks SAR 300m capital raise
Riyadh – Mubasher: The board of Batic Investments and Logistics Company on 14 April recommended a capital increase by SAR 300 million through the offering of a rights issue, according to a disclosure to Tadawul on Thursday. Batic aims to finance …
Titanium Steel will sell the assets for about SAR 36.3 million
15 April 10:17 AM Saudi Steel Pipe’s subsidiary to sell assets for $9.7m
Riyadh – Mubasher: Saudi Steel Pipe Company’s fully-owned subsidiary, Titanium Steel and Manufacturing Co. entered into a definitive asset purchase agreement with Koch Chemical Technology Group Saudi Arabia to sell its main operating assets. …
All contracts carry a duration period of 37 months
14 April 02:49 PM Advanced Petrochemical signs EPC contracts worth $1.68bn
Riyadh – Mubasher: Advanced Petrochemical Company said its subsidiary Advanced Global Investment Company signed engineering, procurement, and construction (EPC) contracts worth a total of $1.68 billion to build propylene plants. Advanced Global …
Tasnee will implement periodic maintenance to the plants
14 April 02:23 PM Tasnee to temporarily close plants; financial impact seen at SAR 90m
Riyadh – Mubasher: The National Industrialization Company (Tasnee) plans to temporarily shut down the ethylene and polyethylene plants for 27 days starting 23 May, according to a disclosure to Tadawul on Wednesday. Tasnee will implement periodic …
Almarai will distribute SAR 1 per share as dividends
14 April 01:26 PM Almarai to pay dividends worth SAR 1bn for 2020
Riyadh – Mubasher: Almarai Company’s shareholders approved a cash dividends payout of SAR 1 billion for 2020, according to a bourse disclosure on Wednesday. The company will distribute SAR 1 per share to the eligible shareholders starting 21 …
Saudi Re will raise the capital to SAR 891 million
14 April 01:06 PM Saudi Re receives SAMA nod for SAR 81m capital raise
Riyadh – Mubasher: Saudi Re for Cooperative Reinsurance Company obtained on 13 April the Saudi Central Bank’s (SAMA) approval to increase the capital by SAR 81 million, according to a disclosure to Tadawul on Wednesday. Saudi Re will raise the …
SABIC will pay SAR 4.5 billion dividends for H2-20
14 April 12:42 PM SABIC distributes SAR 9bn dividends for 2020
Riyadh – Mubasher: Saudi Basic Industries Corporation’s (SABIC) shareholders approved the distribution of cash dividends worth SAR 9 billion for the full year 2020, according to a bourse filing on Wednesday. The equityholders gave the green light …
The new Chairman has been appointed for a three-year term
14 April 12:15 PM Maharah appoints new Chairman, Vice Chairman
Riyadh – Mubasher: Maharah Human Resources Company announced the appointment of Sulaiman Abdulaziz Al Majed as the new Chairman of the board, starting 1 May 2021 and for a three-year term. The company has also appointed Abdullah Sulaiman Al Amro …
Buying the shares will be financed by Almarai’s own resources
14 April 11:50 AM Almarai’s shareholders nod to allocating 10m shares for ESOP
Riyadh – Mubasher: The shareholders of Almarai Company approved during an extraordinary general meeting to purchase up to 10 million shares to earmark them for the Employee Stock Ownership Plan (ESOP). Buying the shares will be financed by …
The MoU duration is four months
14 April 11:24 AM Batic acquires stake in Smart Cities
Riyadh – Mubasher: Batic Investments and Logistics Company signed on 13 April a memorandum of understanding (MoU) with Smart Parking Holding Company to acquire 34.4% of Smart Cities Solutions Company, according to a bourse filing on Wednesday. The …
This comes as part of forming the new board for a three-year term
14 April 10:44 AM Saudi Enaya appoints new Chairman, Vice Chairman
Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company has appointed Amr Muhammad Khaled Khashoggi as the new Chairman of the board, according to a bourse disclosure to Tadawul. The company also named Faisal Farouk Tamer as the Vice …
The dividends will be paid as SAR 0.13 per unit
14 April 10:28 AM Mulkia Gulf Real Estate’s unitholders to get SAR 9m dividends
Riyadh - Mubasher: Mulkia Investment Company announced the distribution of SAR 8.85 million worth of cash dividends to the unitholders of Mulkia Gulf Real Estate REIT Fund for the period from 1 January to 31 March this year. The dividends will be …