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1 hour ago EIC completes final phase of share buyback at SAR 7.2m
Riyadh – Mubasher: Electrical Industries Company (EIC) completed on 26 November 2020 the final phase to purchase its own shares under the incentives shares programme, subject to the approval of the company's extraordinary general meeting (EGM). …
The MOU includes the possibility of extending the supply and distribution rights later.
2 hours ago SPIMACO, Germany’s CureVac team up to provide coronavirus vaccine in KSA
Riyadh - Mubasher: The Saudi Pharmaceutical Industries and Medical Appliances Corp (SPIMACO) has signed a non-binding memorandum of understanding (MoU) with Germany’s CureVac biopharmaceutical company to provide the COVID-19 vaccine in Saudi …
The CEO resignation will be effective as of 28 March 2021.
2 hours ago stc announces CEO resignation; completes share buyback at SAR 300m
Riyadh – Mubasher: Saudi Telecom Company’s (stc) Board of Directors accepted the resignation of the company’s CEO, Nasser S. Alnasser, on 28 November 2020, which was submitted for personal reasons. The resignation will be effective as of 28 March …
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26 November 04:45 PM Abo Moati extends SAR 40m loan deal with NCB
Riyadh – Mubasher: Abo Moati for Bookstores Company said it has renewed a Sharia-compliant credit facility agreement worth SAR 40 million on Thursday with the National Commercial Bank (NCB). The credit facility is guaranteed by a promissory note …
The signed deals will mature on 31 March 2022.
26 November 04:26 PM EIC, Bawan units pen SAR 166m deals with SEC
Riyadh – Mubasher: WESCOSA and the Saudi Transformers Company (STC), subsidiaries of Electrical Industries Company (EIC), signed agreements to supply Saudi Electricity Company (SEC) with electrical equipment. The total value of the deals, which …
A total of 487.460 million shares were traded via 502,971 deals at SAR 13 billion.
26 November 03:57 PM TASI ends Thursday with marginal gains for fifth day
Riyadh – Mubasher: The Tadawul All Share Index (TASI) extended its gains on Thursday for the fifth consecutive session after inching up by 0.05% to 8,693.47 points. A total of 487.460 million shares were traded via 502,971 deals at SAR 13 billion. …
KSA's trade exchange hit SAR 835.02 billion in the January-September period in 2020.
26 November 03:16 PM KSA's trade surplus totals SAR 118.2bn in 9M
Riyadh – Mubasher: Saudi Arabia recorded a trade surplus of SAR 118.15 billion during the first nine months of 2020, down by 62.1% from SAR 311.9 billion in the same period in 2019. The GCC nation’s trade exchange amounted to SAR 835.02 billion in …
Part of the signing ceremony.
26 November 02:41 PM CSE signs first framework agreement for gov’t bodies
Riyadh – Mubasher: The CEO of the Saudi Center of Spending Efficiency (CSE), AbdulRazzag AlAujan, on Thursday signed the first framework agreement with 13 office supplies providers from the private sector, state-run Saudi Press Agency (SPA) …
No Arab billionaires have seen declines in wealth since April.
26 November 11:59 AM Arab billionaires’ fortunes jump $11bn despite the pandemic - Forbes
Riyadh – Mubasher: Arab billionaires have witnessed a surge in their fortunes despite the coronavirus pandemic, with a cohort of 21 individuals gaining $10.8 billion during the last seven months, Forbes said. The list was headed by Algerian …
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26 November 11:16 AM Saudi GAC approves two economic concentration transactions
Riyadh – Mubasher: Saudi Arabia’s General Authority for Competition (GAC) approved economic concentration between Tronox Saudi Industries Company and the National Titanium Dioxide Company Ltd. (Cristal). Hence, Tronox will acquire titanium metal …
Qiddiya’s Master Plan.
26 November 10:50 AM Qiddiya awards construction contracts worth over SAR 2bn
Riyadh – Mubasher: Qiddiya Investment Company (QIC) said it has so far awarded construction contracts worth more than $533.3 million (SAR 2 billion) since construction on Saudi Arabia’s 366km2 Qiddiya gigaproject began a year ago, with 100% of the …
The kingdom’s overall GDP in 2020 is predicted to fall by 3.6%.
26 November 09:53 AM Jadwa expects KSA non-oil GDP to fall 2.7% in 2020
Riyadh – Mubasher: Saudi Arabia’s non-oil gross domestic product (GDP) is expected to decline by 2.7% in 2020, compared to 3% previously, Jadwa Investment said in a report on Thursday. Meanwhile, the kingdom’s overall GDP in 2020 is predicted to …
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26 November 09:24 AM Saudi Amiantit secures high rank in local content programme
Riyadh - Mubasher: ​The Saudi local content authority said that Saudi Arabian Amiantit Company has achieved 48.10% in local content and 58.10% in the percentage of local content and revenue from exports. The results were announced after the …
Abo Moati logged the highest liquidity of SAR 637.276 million on Wednesday.
25 November 04:41 PM TASI rises for fourth day on Wednesday to 15-month high
Riyadh - Mubasher: The Saudi bourse saw its fourth consecutive daily rise at Wednesday’s trading session. The Tadawul All Share Index (TASI) grew by 0.61% or 52.62 points to close at 8,688.76 points, its highest level since July 2019. Meanwhile, …
SEC's baseline credit assessment (BCA) remained unchanged at baa1.
25 November 04:12 PM Moody's raises SEC’s ratings to A1 on increased government support
Riyadh – Mubasher: Moody's Investors Service has upgraded the ratings of Saudi Electricity Company (SEC) to A1 from A2 due to increased government support. The outlook on all ratings is negative, reflecting the negative outlook on Saudi Arabia's …
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25 November 03:49 PM Al Rajhi Bank names new chairman, vice chairman
Riyadh – Mubasher: Al Rajhi Bank’s elected Board of Directors approved appointing Abdullah bin Sulaiman Al Rajhi as the Chairman of the board for the new three-year term that started on 14 November 2020. The board also named Ibrahim bin Mohammed …
Governor of the Saudi Arabian Monetary Authority (SAMA), Ahmed Alkholifey - (Photo Archive).
25 November 03:24 PM SAMA considers extending stimulus plans until Q1-21
Riyadh – Mubasher: Governor of the Saudi Arabian Monetary Authority (SAMA), Ahmed Alkholifey, said the authority is currently studying extending SAMA’s stimulus plans relating to payment deferral until the end of the first quarter (Q1) of 2021.   …
The first utilisation of the loan will be for solar PV projects in Jordan.
25 November 02:01 PM APICORP pens $50m revolving construction facility to Yellow Door Energy
Riyadh – Mubasher: The Arab Petroleum Investments Corporation (APICORP) has signed a $50 million revolving construction facility with Yellow Door Energy Limited, a leading UAE-based sustainable energy provider for businesses, to develop solar-PV …
Speciality chemicals generate around $2 billion of annual revenue.
25 November 11:25 AM SABIC considers IPO of Speciality Chemicals Business
Riyadh – Mubasher: The Saudi Basic Industries Corporation (SABIC) is mulling an initial public offering (IPO) of its multibillion-dollar speciality chemicals unit, Bloomberg said citing people familiar with the matter. SABIC is speaking with …
Saudi merchandise exports fell by 31.1% in September YoY.
25 November 11:09 AM Saudi trade surplus falls to SAR 12.8bn in September
Riyadh – Mubasher: Saudi Arabia registered a trade surplus of SAR 12.77 billion in September 2020, down by 63.37% or SAR 22.09 billion from SAR 34.86 billion in the year-ago month. The decline in the kingdom’s trade surplus during September was …
Part of the signing ceremony.
25 November 10:37 AM ROSHN signs SAR 1.6bn strategic partnerships for ROSHN Riyadh
Riyadh – Mubasher: ROSHN, a subsidiary of Saudi Arabia’s Public Investment Fund (PIF), has signed contracts worth SAR 1.6 billion to start contracting work of Phase One of its first project in Riyadh city. Rezaik Abdullah Algedrawy Contracting …
The total value of land rent over the course of the contract has been reduced by SAR 620 million.
25 November 09:30 AM Arabian Centres amends “U Walk Jeddah” land lease contract
Riyadh – Mubasher: Arabian Centres Company (ACC) has concluded negotiations with the heirs of Princess Munira bint Abdulaziz Al Jiluwi Al Saud to amend some provisions of the company’s lease contract signed on 16 July 2015 for the U Walk Jeddah …
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25 November 09:04 AM Saudi Aramco issues $8bn worth of international bonds
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has completed issuing senior US dollar-denominated international bonds unsecured by assets pursuant to its Global Medium Term Note Programme. A total of 40,000 bonds were issued at a …
24 November 04:59 PM Airlines to record $157bn losses in 2020, 2021 - IATA
The IATA warned of $157 billion losses expected to be witnessed by airlines in 2020 and 2021 due to COVID-19.
Saudi employees working in the new store represent 48% of total staff.
24 November 04:45 PM Jarir Marketing opens new store in Dawadmi governorate
Riyadh- Mubasher: Jarir Marketing Company on Tuesday inaugurated a new showroom on King Abdelaziz Road in Dawadmi governorate with SAR 27 million worth of investments. The 3,721-square meter outlet is Jarir’s 53rd outlet in the kingdom and the …