Latest News

The company now has a total licensed capacity of about 700 beds
26 September 06:48 PM NMC acquires 3 hospitals in KSA, obtains all approvals
Abu Dhabi- Mubasher: NMC Health announced on Monday that it has received all regulatory approvals for its long-term care facility, Chronic Care Specialty Medical Center (CCSMC), in Jeddah, KSA. CCSMC is believed to be one of the first Greenfield …
Alwaleed has topped the same list for nine years in a row
26 September 04:48 PM Alwaleed tops list for most influential Arabs
Riyadh - Mubasher: Prince Alwaleed bin Talal has been ranked number one in Middle East Magazine’s 2017 list of the World’s 50 Most Influential Arabs, for the ninth consecutive year. The chairman of Kingdom Holding Company (KHC) and Alwaleed …
Tadawul’s turnover increased to SAR 2.81 billion ($749 million) on Tuesday
26 September 04:38 PM TASI closes Tuesday higher; NOMU falls
Mubasher: The benchmark Tadawul All Share Index (TASI) of the Saudi Stock Exchange (Tadawul) closed Tuesday’s trading session 0.22% or 15.97 points higher at 7,240.1 points. Tadawul’s turnover increased to SAR 2.81 billion ($749 million) on …
Zain and Mobily continue to work on controlling costs
26 September 02:12 PM STC remains defensive pick as telecom earnings drop in Q3 – Report
Riyadh – Mubasher: Al Rajhi Capital on Tuesday said that the Saudi telecommunications sector is likely to witness a drop in earnings for the third quarter of 2017. Factors that lead to this decline include; longer than usual school holidays, …
SIECO will export Wafrah's products to Iraq, Jordan, and North Africa.
26 September 12:27 PM Wafrah, SIECO sign 1Y distribution contract
Riyadh – Mubasher: Wafrah for Industry and Development on Monday signed a sales and distribution agreement with Saudi Industrial Export company (SIECO) to export its products to Iraq, Jordan, and North Africa. The agreement term is one year, …
The price of Brent crude oil rose by 4%
26 September 12:08 PM Kuwait crude oil up 56 cents Monday – KPC
Mubasher: The price of Kuwait’s crude oil increased by 56 cents to reach $54.06 per barrel (pb) on Monday compared to $53.50 pb on Friday, according to the latest data issued by the Kuwait Petroleum Corporation (KPC). The price of Brent crude oil …
Saudi Arabia's minister of finance Mohammed Al-Jadaan
26 September 10:38 AM Aramco IPO to launch in 2018 - Al-Jadaan
Riyadh – Mubasher: Saudi Arabia's minister of finance Mohammed Al-Jadaan told bond investors on Monday during a presentation that the initial public offering (IPO) of the Saudi Arabian Oil Company (Saudi Aramco) will be carried on as planned in …
Bank Albilad to distribute SAR 0.3/shr dividends for H1-17
26 September 09:47 AM Bank Albilad to distribute SAR 0.3/shr dividends for H1
Riyadh – Mubasher: Bank Albilad’s board of directors approved the distribution of dividend totalling SAR 180 million to shareholders for the first half of 2017. The bank will distribute dividends at SAR 0.3 per share, representing a par value of …
Brent futures went up by 3.9% to $59.13 per barrel
26 September 01:13 AM Brent jumps 4%, breaks $59 level
Mubasher: Brent crude oil rose by 4% during Monday trade, surpassing the level of $59, amidst a dominant positive sentiment, as investors are optimistic regarding cutting output. By 9:34 PM (GMT), Brent futures went up by 3.9% to $59.13 per barrel …
Trump is expected to propose cutting corporate tax rate to 20%
26 September 12:27 AM Trump to unveil more tax reform details Wednesday
Mubasher: US president Donald Trump is set to reveal new details of his tax reform plan on Wednesday, according to the White House. The White House press secretary Sarah Huckabee Sanders said in a press conference on Monday that Trump will give a …
Gold futures went up by 1.1% to its highest level in 10 days
26 September 12:22 AM Gold prices surge on rising geopolitical risks
Mubasher: Gold prices have risen by the end of Monday trade, increasing by around $14 and exceeding the level of $1,300, as more geopolitical risks are rising with North Korea threatening to target American Aircrafts. Gold futures went up by 1.1%, …
Earnings growth shifts down a gear turning outlook on global oil and gas sector stable
25 September 11:42 PM Moody's expects lower return growth for oil, gas sectors
Mubasher: An expected slowdown in the pace of earnings growth has moved the 2018 outlook on the global integrated oil and gas industry to stable from positive, Moody's Investors Service said in a report published Monday. The slowdown follows a …
AccorHotels currently has more than 100 hotels in the MENA region
25 September 08:38 PM AccorHotels opened 12 new hotels in 2017
Dubai – Mubasher: AccorHotels announced on Monday that it has inaugurated 12 hotels so far this year, according to press release. The company’s hotels portfolio in MENA region has now surpassed more than 100 hotels. As per the statement, the new …
Khazzan Gas Field
25 September 06:22 PM BP launches production in Oman’s Khazzan gas field
Mubasher: BP announced on Monday that it has begun production at the Khazzan gas field in Oman, according to a company statement. The Omani oil and gas minister said that BP has successfully delivered the first phase of the project on time, adding …
Al Akaria, TYPSA ink SAR 11m deal to design hotel complex
25 September 06:15 PM Al Akaria, TYPSA ink SAR 11m deal to design hotel complex
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) on Monday, 25 September signed a SAR 10.9 million ($2.9 million) agreement with Tecnica Y Proyectos S.A. (TYPSA) to design a mixed-use hotel complex. The project will be located in North …
The main index closed at its lowest level since 20 August
25 September 04:17 PM TASI sees highest decline in two months
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended Monday’s trading session in red, witnessing its highest daily loss since last July. The Tadawul All Shares Index (TASI) declined by 1.39% or 102.19 points, and closed at the level of …
This is the kingdom’s second bond issuance in 2017
25 September 04:13 PM KSA names 5 banks to manage USD-bond sale
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) on Monday said that it has authorised several domestic and international banks to manage the sale of the government’s US dollar-denominated sale. Reports forecast that the new issue of …
Brent futures rose by 1.4% to $57.67 per barrel
25 September 03:52 PM Brent surges to highest level since mid-2015
Mubasher: Brent crude oil expanded its gains during Monday trade, reaching its highest level in more than two years, with investors showing a positive sentiment regarding the output limitation agreement. Brent futures rose by 1.4% to the level of …
Nine firms see IPOs in H1-17 at SAR 3.2bn – CMA
25 September 02:38 PM Nine firms see IPOs in H1-17 at SAR 3.2bn – CMA
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) on Monday said that the initial public offerings (IPOs) of the companies on the Saudi Stock Exchange (Tadawul) reached nine at a value of SAR 3.173 billion during the first half of 2017. …
The prospectus will be disclosed long enough before starting the IPO of Awazel
25 September 01:48 PM Saudi CMA nods to Boubyan Petrochemical’s associate IPO
Mubasher: Boubyan Petrochemical said that the Saudi Capital Market Authority (CMA) approved on 21 September issuing 8.19 million of Arabian Waterproofing Industries Co.’s (Awazel) shares for the initial public offering (IPO). This stake represents …
KSA’s imports, exports reach SAR 9bn in 17 days – Al-Eisa
25 September 12:37 PM KSA’s imports, exports reach SAR 9bn in 17 days – Al-Eisa
Riyadh – Mubasher: Saudi Arabian imports reached 909,000 tonnes worth SAR 4.2 billion, whereas exports reached 1.6 million tonnes amounting to SAR 4.8 billion until 9 September, aleqtisadiah newspaper on Monday said, citing Saudi Customs’ …
The banks and materials sectors levelled down 0.51%, and 0.5%, respectively
25 September 11:17 AM Blue Chips push TASI down, Nomu stable early Monday
Riyadh – Mubasher: The Saudi Stock Exchange’s Tadawul All Share Index (TASI) opened Monday in the red zone after dropping 0.39% or 28.38 points to reach 7,297.94 points. By 10:31 am KSA time, TASI’s traded volume amounted to 11.79 million shares, …
Saudi CMA suspends trading on Go’s stock Monday
25 September 10:33 AM Saudi CMA suspends trading on Go’s stock Monday
Riyadh – Mubasher: Trading activities on the stock of Etihad Atheeb Telecommunication (Go) will be suspended effective Monday, 25 September, the Capital Market Authority (CMA) of Saudi Arabia on Monday said. The stock's trading suspension was …
MedGulf’s EGM approved capital cut to SAR 400m
25 September 09:51 AM MedGulf’s EGM approved capital cut to SAR 400m
Riyadh – Mubasher: MedGulf Insurance and Reinsurance Cooperative Company’s (MedGulf) Extraordinary General Meeting (EGM) approved on Friday, 22 September to reduce its capital to SAR 400 million from SAR 1 billion. The capital decrease will be …
Gold has fallen by more than $70 per ounce in 2017
25 September 01:15 AM Gold down to $1,295 per ounce - Sabaek
Mubasher: Gold prices went down by $23 to reach $1,295 per ounce in last week's trading in New York New Mix market, according to Sabaek Al-Kuwait Company. Kuwait News Agency (KUNA) reported that the company added in its weekly report on Sunday …