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16 minutes ago Saudi to privatise last two milling companies soon
Riyadh – Mubasher: Saudi Arabia will complete the privatisation of the final two flour milling companies soon, official spokesperson for the National Center for Privatization & PPP (NCP), Hani bin Nasser Alsaigh, told CNBC Arabia on Sunday. Last …
Market gains amounted to SAR 9.291 trillion in the previous week
1 hour ago Tadawul extends gains for 12th week in row
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) continued its upward trend for the twelfth consecutive week during the week ended on 17 September 2020. Weekly, the Tadawul All Share Index (TASI) hiked by 2.49% or 202.72 points last week and …
Foodics is steadily growing in the rest of the GCC region
3 hours ago Saudi-based FOODICS boosts footprint in Egypt
Riyadh – Mubasher: FOODICS, Saudi Arabia-based retail and food and beverage (F&B) tech startup, announced its geographical expansion into the Egyptian market after establishing a strong presence in KSA and the UAE. The latest expansion comes at …
The acquisition is expected to increase Musharaka REIT’s profits
4 hours ago Musharaka REIT Fund acquires self-storage warehouse for SAR 47m
Riyadh – Mubasher: Musharaka Capital, manager of Musharaka REIT Fund, has completed necessary procedures to take over one of the largest self-storage warehouses in the Middles East region for around SAR 47 million. The acquired warehouse is …
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5 hours ago Salama Cooperative Insurance cuts accumulated losses by 6.5%
Riyadh – Mubasher: Salama Cooperative Insurance Company has cut its accumulated losses to less than 20% of the capital over the first half (H1) of 2020.  The company's losses now stand at SAR 48.98 million, representing 19.59% of the …
The two MoUs were extended for three months until 7 December 2020
09:47 AM National Building extends two MoUs on coronavirus-related delays
Riyadh – Mubasher: The National Building and Marketing Company has extended a memorandum of understanding (MoU) to acquire the entire capital of Al-Kharj Union Company for Metal Casting at an initial sum of SAR 20 million.  It further renewed …
SIIG owns 50% of Petrochem
09:10 AM Petrochem, SIIG in early talks for potential merger
Riyadh – Mubasher: The board of the National Petrochemical Company (Petrochem) approved to begin initial talks with the Saudi Industrial Investment Group (SIIG) to study the economic feasibility of merging the two companies. No agreement has been …
The market’s liquidity stood at SAR 14.66 billion on Thursday
17 September 04:46 PM TASI returns to green zone at Thursday’s close
Riyadh – Mubasher: The Tadawul All Share Index (TASI) ended Thursday’s trading session in the green territory after growing by 0.32% or 26.67 points to settle at 8,337.88 points. Meanwhile, the market’s liquidity stood at SAR 14.66 billion while …
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17 September 04:25 PM Saudi oil exports jump to 6.636 mbpd in July - JODI
Riyadh – Mubasher: Saudi oil exports, including crude oil and total oil products, increased by 571,000 barrels per day (b/d) on a monthly basis in July 2020, close to their lowest historic level. The kingdom’s oil exports registered 6.636 million …
Saudi imports from Arab countries tumbled by 17.65% yearly in H1-20
17 September 02:56 PM Saudi trade surplus with Arab states nears $6bn in H1
Riyadh – Mubasher: Saudi Arabia registered a trade surplus with Arab countries worth SAR 22.47 billion ($5.99 billion) in the first half (H1) of 2020, a yearly decrease of 37.5% when compared to SAR 35.93 billion ($9.58 billion) in the year-ago …
The Arar border crossing
17 September 12:29 PM Saudi Arabia, Iraq to reopen Arar border crossing within 20 days
Riyadh – Mubasher: The Arar border crossing between Saudi Arabia and Iraq will reopen within 20 days, state-run Iraqi News Agency reported on Thursday. The opening exact date will be determined by the Iraqi Prime Minister, Mustafa al-Kadhimi, in …
The kingdom’s holdings of US bonds amounted to SAR 124.6 billion last July
17 September 11:17 AM Saudi holdings of US debt instruments down 31% in July
Riyadh – Mubasher: Saudi Arabia has lowered its holdings of US treasury bonds by 31.08% year-on-year (YoY) in July 2020, equivalent to SAR 56.2 billion. The kingdom’s holdings of US bonds amounted to SAR 124.6 billion last July, compared with SAR …
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17 September 10:35 AM Saudi Arabia tenders to buy 540K tonnes of feed barley
Riyadh – Mubasher: The Saudi Grains Organization (SAGO) offered on Thursday this year’s sixth tender to purchase 540,000 tonnes of animal feed barley for the period from November to December 2020. SAGO Governor, Ahmad Al Fares, said the offered …
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17 September 10:20 AM Saudi covers over 58K km of roads with vibration warning technology
Riyadh – Mubasher: The Saudi Ministry of Transport said a total of 58,410 kilometres of roads in the kingdom were covered by the vibration warning technology. The kingdom is the first in the Middle East and one of the top five countries worldwide …
SPIMACO will manufacture some of the unit's products in its plant in Al Qassim
17 September 09:30 AM SPIMACO announces optional liquidation of under-construction unit
Riyadh - Mubasher: The Saudi Pharmaceutical Industries and Medical Appliances Corp (SPIMACO) said its partners in Al Watan Arabia for Pharmaceutical Products, a fully-owned limited liability subsidiary, approved the optional liquidation of the …
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16 September 04:44 PM Saudi German Hospital secures SAR 305m loan from Al Rajhi Bank
Riyadh – Mubasher: The Middle East Healthcare Company (Saudi German Hospital) on Wednesday received Sharia-compliant credit facilities worth SAR 305 million from Al Rajhi Bank. A total of SAR 120 million of the financing is revolving loans that …
The Nomu-Parallel Market Capped Index (NomuC) tumbled by 3.26% on Wednesday
16 September 04:18 PM TASI levels down 0.13% on Wednesday
Riyadh – Mubasher: The Tadawul All Share Index (TASI) closed Wednesday’s session in the red zone after inching down by 0.13% or 10.53 points to stand at 8,311.21 points. Traded values registered SAR 13.98 billion while the trading volume recorded …
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16 September 03:26 PM GIB predicted to sell $500m in five-year bonds
Riyadh – Mubasher: Gulf International Bank (GIB) is predicted to sell $500 million in five-year bonds and has received around $1.2 billion in orders for the debt sale, Reuters reported on Wednesday. The lender, which is 97.2% indirectly owned by …
Saudi Agricultural and Livestock Investment Company (SALIC)
16 September 03:16 PM SALIC raises stake in Brazil’s Minerva Foods to 33.83%
Riyadh - Mubasher: Saudi Agricultural and Livestock Investment Company (SALIC), owned by the Saudi Public Investment Fund (PIF), raised its stake in Brazil’s Minerva Foods to 33.83% from 25.5%, Saudi Press Agency (SPA) reported on Wednesday. The …
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16 September 02:13 PM World Tourism Organization to open regional office in Riyadh
Riyadh – Mubasher: Members of the executive council of the World Tourism Organization (UNWTO) approved unanimously the establishment of a regional office for the Middle East in Riyadh city, Saudi Minister of Tourism, Ahmed bin Aqeel Al Khatib, …
Market cap value plunged by SAR 36.4 billion last week
16 September 12:43 PM Tadawul foreign investors’ purchases top SAR 341m in week
Riyadh – Mubasher: Buying activity of foreign investors in the Saudi Stock Exchange (Tadawul) netted SAR 341.81 million during the week ended on 10 September 2020, compared to net sales by Saudi and GCC investors worth SAR 107.22 million and SAR …
The step comes due to the expected growth of live and entertainment events activity in Saudi
16 September 11:36 AM SAMA approves event cancellation insurance products
Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) approved, in coordination with the General Entertainment Authority (GEA), a number of insurance products to cover risks associated with cancellation of live events in the Saudi …
Merchandise imports retreated by 22.8% annually in Q2-20
16 September 11:09 AM Saudi merchandise exports contract 53.6% in Q2
Riyadh – Mubasher: Saudi merchandise exports plunged by 53.6% on a yearly basis in the second quarter (Q2) of 2020, reaching SAR 117.112 billion. This decrease was largely driven by a 61.8% drop in oil exports, equivalent to SAR 121.047 billion, …
Trading the shares of National Building will resume on 17 September
16 September 10:30 AM Tadawul suspends trading on National Building shares
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) has suspended trading on the shares of the National Building and Marketing Company on Wednesday, 16 September. Trading the shares will resume on 17 September for 20 trading sessions during …
Part of the auction
16 September 10:16 AM Tasfiah sells Jewel of the Airport for SAR 2bn in largest auction
Riyadh – Mubasher: The contribution land of “Jawharat Al-Matar” or “Jewel of the Airport” has been sold for SAR 1.937 billion in the largest real estate auction in 2020, general secretary of Estate Contributions Commission (Tasfiah), Badr …