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Almarai opens SAR 1.2b production plant in Al Kharj
5 minutes ago Almarai opens SAR 1.2b production plant in Al Kharj
Riyadh- Mubasher: Saudi Arabia's Almarai said on Thursday that it began the opening and commercial operation of its new Central Production Plant (CPP3) manufacturing facilities in Al Kharj with investments of SAR 1.2 billion. The CPP successfully …
The GIC is equally owned by the governments of the six member states of the GCC
42 minutes ago Kuwait’s GIC credit backed by solid capital adequacy – Moody’s
Mubasher: The Gulf Investment Corporation's (GIC) credit profile is endorsed by solid capital adequacy and liquidity positions, Moody's Investors Service said in a report on Thursday. The GIC’s credit profile is backed by the company’s highly …
SABB acquires HSBC’s stake in SABB Takaful
47 minutes ago SABB acquires HSBC’s stakes in SABB Takaful
Riyadh – Mubasher: The Saudi British Bank (SABB) on Thursday announced acquiring HSBC combined stakes in SABB Takaful after obtaining SABB ordinary general meeting (OGM), and the regulatory approvals'. After completing the transaction, SABB will …
TASI surges 56 pts, Nomu falls 5 pts at Thursday’s close
2 hours ago TASI adds 56 pts, Nomu slips at Thursday’s close
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) closed Thursday up after its benchmark Tadawul All Share Index (TASI) went up 0.82% or 55.8 points, reaching 6,878.2 points. TASI saw trading of 155.7 million shares, through 81,200 …
Italy’s debt has reached 130% of its GDP
3 hours ago 6 Eurozone members risk EU budget issues in 2018
Mubasher: The European Commission forecast that six Eurozone countries’ budgets may break the standard European Union (EU) deficit standards in 2018. Accordingly, the European Commission issued a warning to governments to remain within the …
Construction sector in the GCC surged 30% in 2017, a new study by MENA Research Partners (MRP) showed
3 hours ago GCC construction sector jumps 30% in 2017
Mubasher: Construction sector in the GCC surged 30% in 2017, a new study by MENA Research Partners (MRP) showed. The sector's undergoing projects amounted to $2.6 trillion, representing 160% of the GCC’s total growth domestic product (GDP), MRP’s …
c’s employment hits 17-yr high in November
3 hours ago Euro zone’s employment hits 17-yr high in November
Mubasher: Employment in the euro zone soared in November, registering its highest level in 17 years, according to the data of Purchasing Managers’ Index, IHS Markit Flash Eurozone PMI. Eurozone PMI Composite Output Index hit 57.5 points in …
SABB Takaful’s stock sees four deals of SAR 118m
4 hours ago SABB Takaful’s stock sees SAR 118m deals
Riyadh – Mubasher: Four private transactions were executed on Thursday on SABB Takaful’s stock on the Saudi Stock Exchange (Tadawul) totaled SAR 117.79 million.  The transactions saw trading of 11.05 million shares, at SAR 10.66 per share, …
Tesla to trial world’s largest battery storage facility
4 hours ago Tesla to trial world’s largest battery storage facility
Mubasher: Electric car maker Tesla Inc is to trial world's largest lithium ion battery facility in South Australia by December 2017. In July, Tesla announced that it would build the facility within 100 days. The new facility will be an important …
Al Mal stock declined to 29 fils
4 hours ago Al Mal comments on selling stake in KSA Hail Cement
Mubasher: Al Mal Investment has commented on the news recently spread over social media channels regarding selling a stake of Hail Cement Co.’s shares. The stake sold in the Saudi firm, Hail cement, is related to a client and was sold through an …
Eurozone economic activity hits 7-yr high in November
4 hours ago Eurozone economic activity hits 7-yr high in November
Mubasher: The Eurozone’s economic activity rose in the manufacturing and services segments in November from a month earlier, data released by IHS Markit for the Purchasing Managers’ Index (PMI) on Thursday showed. Eurozone activity rose to 57.5 …
Saudi Elaj Group acquires 2 hospitals in Egypt
12:43 PM Saudi Elaj Group acquires 2 hospitals in Egypt
Cairo – Mubasher: Saudi Arabia-based, Elaj Group acquired Alexandria International Hospital in Smoha and Ibn Sina Specialized Hospital in Mohandessin. The takeover of the hospital in Alexandria was implemented through over the counter (OTC) Deals …
KSA government expenses to rise in Q4-17 – Report
12:05 PM KSA government expenses to rise in Q4-17 – Report
Riyadh – Mubasher: Saudi Arabian budget results in the third quarter of 2017 revealed a continuous improvement in the Kingdom’s financial position, compared to the year-ago period, alongwith the need to increase oil revenues of the the Arab …
Japanese stock market is closed on Thursday
11:49 AM Japanese stock market is closed on Thursday
Mubasher: The Tokyo Stock Exchange is closed on the Labor Thanksgiving Day, and it will resume its trades Friday. Japan and other countries across the world celebrate the Labor Thanksgiving Day by the end of each year. By 08:07 am GMT, JPY price …
By 10:48 am KSA time, TASI’s trading reached 25.75 million shares, through 16,000 deals, generating SAR 539 million
11:17 AM TASI rises 27 pts, Nomu stable at Thursday’s open
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) started Thursday in the green after its main Tadawul All Share Index (TASI) levelled up 0.39% or 26.8 points to 6,849.25 points. By 10:48 am KSA time, TASI’s trading volume amounted to 25.75 …
KSA to double production in industry sector until 2020 - Al-Faleh
11:05 AM KSA to double industry sector production until 2020 - Al-Faleh
Riyadh – Mubasher: Saudi Arabia plans to double the gross domestic product (GDP) in industrials sector by three to four times until 2020, said Energy, Industry, and Mineral Resources Minister Khaled bin Abdulaziz Al-Faleh. This will lead to a 10% …
The EIA disclosed that oil inventories decreased by 1.9 million barrels
11:01 AM Kuwait crude oil rises 70 cents Wednesday – KPC
Mubasher: The price of Kuwait’s crude oil added 70 cents to settle at $59.88 per barrel (pb) on Wednesday compared to $59.18 pb on Tuesday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). Global oil prices declined …
Oil prices down amid higher US oil rigs
10:37 AM Oil prices down amid higher US oil rigs
Mubasher: Oil prices dropped on Thursday, in line with investors’ anticipation of the Organization of the Petroleum Exporting Countries’ meeting next week and whether it will extend production cuts. Drillers of the US energy firms added nine oil …
KSA agrees $7bn precision guided munitions from U.S. firms
09:54 AM KSA agrees $7bn precision guided munitions from U.S. firms
Riyadh – Mubasher: Saudi Arabia agreed with American defense companies to purchase precision guided munitions at a value of SAR 26.25 billion ($7 billion), Reuters reported, citing informed sources as saying. The U.S. defense firms are Raytheon Co …
Gold prices surged by 0.8% on Wednesday
12:49 AM Gold prices rise $10 on Wednesday
Mubasher: Gold prices increased by more than $10 during Wednesday’s trade. The precious metal futures went up by 0.8% to 1292.2 per ounce. Gold gains were supported by the decline of the US dollar on the back of macroeconomic data.
Nymex futures jumped 2.1% on Wednesday
12:37 AM Nymex above $58 for 1st time since mid-2015
Mubasher: Oil prices saw significant increase at the end of Wednesday’s trade, as Nymex reached its highest level in two years, after data revealed a decline in US oil stockpiles. Nymex futures for January delivery rose by 2.1% to the level of …
The naval base will include a 300-metre L-shaped inland berthing port
22 November 06:53 PM UAE’s firm begins building a $90m naval base in Somalia
Mubasher: Divers Marine Contracting announced on Wednesday the beginning of constructing UAE’s new naval base in Somali, after winning a contract of $90 million in April, Arabian Business reported, citing company managing director Abdulla Darwish …
Saudi Arabia is the biggest producers among OPEC members
22 November 06:12 PM Saudi Arabia aims at extending OPEC deal to 2018-end
Riyadh - Mubasher: Saudi Arabia is said to be pushing for a nine-month extension of the oil production cut agreement, which will expire in March 2018, Reuters reported on Wednesday citing industry sources. The Organization of the Petroleum …
Chestertons takes over Downtown International
22 November 05:59 PM Chestertons takes over Downtown International
Mubasher: UAE-based property company Chestertons MENA on Wednesday announced that it completed the acquisition of Downtown International, a multinational real estate agency and broker for residential developments, in an effort to open up fresh …
JPMorgan Chase Tower in Houston, Texas
22 November 05:48 PM Commodities to see bad year in 2018 - JPMorgan
Mubasher: A recent report by JPMorgan Chase is expecting commodity returns to face more poor performance in 2018, as reported by Bloomberg. Analysts noted that in order for traders to make money that will need to pick assets, such as agriculture, …