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The UAE has topped the Arab World by attracting $10.4 billion FDI in 2018
29 minutes ago UAE tops Arab World with $10.4bn FDI in 2018
UAE – Mubasher: According to the United Nations Conference on Trade and Development’s (UNCTAD) World Investment Report 2019, the UAE was ranked as the 27th globally in terms of attracting foreign direct investment (FDI) in 2018, the UAE’s Ministry …
16 June 06:44 PM Huawei moves up on BrandZ’s most valuable brands
The Chinese giant holds 19% of global market share
The free-of-charge storage period was increased to 30 days
16 June 05:15 PM MAWANI slashes handing charges at King Fahd Industrial Port in Yanbu
Riyadh – Mubasher: Saudi Ports Authority’s (MAWANI) board of directors approved reducing its handling charges and marine service fees for container vessels at King Fahd Industrial Port in Yanbu by 32% to 57.5%, Saudi Press Agency (SPA) reported. …
Millennium MEA is currently operating 4,067 keys in Saudi Arabia
16 June 05:12 PM Millennium MEA confirms exclusive rights to operate Makkah Millennium Hotel
Riyadh – Mubasher: Millennium Hotels and Resorts Middle East and Africa has addressed its guests “with deep regrets” for the inconvenience they might have encountered during their stay at Makkah Millennium Hotel and Towers following the recent …
The two-year facility could be extended for one year at Zain’s request
16 June 05:11 PM Saudi Zain inks SAR 2.3bn Islamic credit facility
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain) has signed a new Islamic Murabaha facility valued at SAR 2.25 billion to refinance its existing $599.808 million (SAR 2.250 billion) commercial loan with better terms. The …
The projects will have a power-generation capacity of 1.51 GW
16 June 04:51 PM Saudi solar PV projects target $1.5bn investments
Riyadh – Mubasher: The Saudi Arabian General Investment Authority (SAGIA) revealed that tenders for seven solar photovoltaic (PV) projects will be offered by the middle of 2019. These PV projects are expected to attract investments up to a total …
The project covers an area of 1.08 million square metres
16 June 04:34 PM Saudi Arabia to establish int’l city for dates
Riyadh – Mubasher: The Saudi Ministry of Environment, Water, and Agriculture (MEWA) has offered a distinguished project represented in building and developing an international city for dates in Madinah Al Munawara. The project spans an area of …
Tadawul registered a decline in turnover to SAR 3 billion
16 June 04:29 PM Tadawul closes Sunday in red; NOMU adds 0.55%
Riyadh – Mubasher: The benchmark Tadawul All Share Index (TASI) of the Saudi Stock Exchange (Tadawul) closed Sunday’s session 0.61% or 54.7 points lower at 8,886.84 points. The banking sector led the decliners with 1.44%, while the …
Oil exports of Saudi Arabia valued at SAR 69.337 billion in April 2019
16 June 03:24 PM Saudi Arabia exports down to SAR 86bn in April – GaStat
Riyadh – Mubasher: The recent report by the Saudi General Authority for Statistics (GaStat) showed that total merchandise exports of the kingdom stood at SAR 86.96 billion during April 2019 compared to SAR 89.65 billion in the same month a year …
Chemical or allied industries imports decreased by 22.4%
16 June 03:03 PM Saudi Arabia imports shrink 17% YoY in April – GaStat
Riyadh – Mubasher: Total merchandise imports of Saudi Arabia registered a value of SAR 39.31 billion during April compared to SAR 47.22 billion in the same month in 2018. Imports of the kingdom decreased by 16.8% or SAR 7.91 over that period, …
Saudi Arabia’s total exports levelled to SAR 86.96 billion in April
16 June 01:51 PM Saudi trade surplus grows 12.3% in April – GatSat
Riyadh – Mubasher: Saudi Arabia’s trade surplus registered an increase of 12.3%, or SAR 5.23 billion, in April compared to the same month in 2018. The Kingdom’s trade surplus grew to SAR 47.65 billion in the fourth month of 2019, up from SAR 42.42 …
Six PPP agreements worth $3.5 billion have been awarded in Q1-19
16 June 01:36 PM Saudi flour mills to be privatised in Q3-19
Riyadh – Mubasher: Saudi Arabian General Investment Authority (SAGIA) revealed that the privatisation of flour mills will be conducted during the third quarter of 2019. In Q1-19, six public-private partnership (PPP) agreements have been awarded …
PIF targets new strategic sectors such as tourism
16 June 12:24 PM Saudi PIF assets doubled in 2 yrs – Crown Prince
Riyadh – Mubasher: Assets of Saudi Arabia’s Public Investment Fund (PIF) have doubled to about SAR 1 trillion from SAR 500 billion in two years, the kingdom’s crown prince, Mohammed bin Salman, told Asharq Al-Awsat newspaper on Sunday. During the …
The Closing Auction session will start from 03:00 pm
16 June 11:26 AM Tadawul extends closing auction session, trade for 20 minutes
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) will extend the Closing Auction session for a total duration of 20 minutes instead of 10 minutes on 20 June. Accordingly, the Closing Auction session will start from 03:00 pm Saudi time to …
Aramco raised $12 billion in its first-ever international bond issue in April.
16 June 11:14 AM Saudi Aramco IPO likely to be in 2020/2021 – Crown Prince
Riyadh – Mubasher: Saudi Arabia is committed to commencing the initial public offering (IPO) of the Saudi Arabian Oil Co, better known as Saudi Aramco, under “the proper circumstances,” the kingdom’s crown prince, Mohammed bin Salman, told Asharq …
The private sector will be the largest investor in the electricity sector in the future
16 June 10:55 AM Saudi gov’t to finalise $533m privatisation deals in 2019 – Crown Prince
Riyadh – Mubasher: Saudi Arabia’s government will finalise privatisation agreements valued at SAR 2 billion ($533 million) before the end of 2019, the kingdom’s crown prince, Mohammed bin Salman, told Asharq Al-Awsat newspaper on Sunday. The Saudi …
Alawwal Bank did not receive any objections from creditors during this period
16 June 10:45 AM SABB, Alawwal Bank complete merger after expiry of creditor objection period
Riyadh – Mubasher: The Saudi British Bank (SABB) and Alawwal Bank announced the effectiveness of their merger after the expiry of the creditor objection period on 15 June. Alawwal Bank noted that the bank did not receive any objections from …
15 June 11:15 PM India weighs in trade conflict; imposes tariffs on US goods
Mubasher: Amid US-Chinese heated trade war, India, one of the biggest economies in the world, decided to step in the conflict
14 June 11:52 PM Middle East spat boosts oil futures at Friday’s close
Mubasher: Oil futures climbed at Friday’s settlement, pushed up by the heated conflict in the Middle East.
14 June 10:08 PM Gold settles higher on Friday
Mubasher: Gold levelled up at Friday’s settlement, declining 0.1% for the week.
14 June 06:54 PM US industrial output recovers in May
Mubasher: US industrial output rebounded in May, recording the strongest upturn in six months, as production of pickup vehicles and cars climbed.
14 June 05:26 PM US business inventories rise 0.5% in April
Mubasher: US business inventories grew by 0.5% during April at $2.029 trillion on a seasonally adjusted basis.
The telecom sector grew 8.39%
14 June 05:19 PM TASI gains 425 pts in week
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) ended in the green territory in a week, recording its highest weekly gain in 44 months. Tadawul All Share Index (TASI) added 425 points, or 4.99%, to 8,941.54 points over the week. All sectors …
14 June 05:13 PM US consumer sentiment declines in early June
Mubasher: The US consumer confidence declined in the first half of June, reversing the improvement in May.
14 June 05:00 PM Trump urged to resolve China trade row, drop new tariffs
Mubasher: Hundreds of companies and trade associations delivered a letter to US President Donald Trump, urging him not to levy more tariffs on Chinese goods.