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Almarai opens SAR 1.2b production plant in Al Kharj
6 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
43 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
48 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 …
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 …
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, …
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 …
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 …
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% …
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 …
Saudi insurance firms to use e-payment early 2018
22 November 04:42 PM Saudi insurance firms to use e-payment early 2018 - SAMA
Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) on Wednesday announced that financial transactions related to insurance, reinsurance, or insurance services offered by liberal professions’ firms will be subject to electronic payment …
TASI surges 44 pts, Nomu retreats 39 pts at Wednesday’s close
22 November 04:35 PM TASI surges 44 pts, Nomu retreats 39 pts at Wednesday’s close
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) closed Wednesday up after its benchmark Tadawul All Share Index (TASI) jumped 0.65% or 44 points, reaching 6,822.45 points. TASI on Wednesday saw trading of 132 million shares, through 75,700 …
Russian firm to establish plant for constructing ships in Saudi project Neom
22 November 03:15 PM Russian firm to establish plant for constructing ships in Saudi project Neom
Riyadh – Mubasher: Saudi Arabia and Russia will collaborate in various sectors in the coming period, and Russian firm plans to establish plant for producing ships in the Kingdom’s megaproject, Neom, said a former Russian diplomatic, Vladislav …
The drivers’ stolen information also included 600,000 US drivers' license numbers
22 November 02:49 PM Uber claimed to pay $100,000 to hackers stealing users’ data
Mubasher: Personal information of about nearly 57 million Uber customers and drivers was stolen by hackers last October. Uber, which fired its chief security officer this week on the back of the scandal, has kept the incident hidden for a year, …
KSA’s wholesale price index edges down 0.3% in October – GASTAT
22 November 01:27 PM KSA’s wholesale price index falls 0.3% in October – GASTAT
Riyadh – Mubasher: Saudi wholesale price index (Inflation at wholesale prices) tumbled 0.3% during October 2017, compared to the year-ago period, the Saudi General Authority for Statistics (GASTAT) stated on Wednesday. The decrease in Saudi …
KSA to issue tourist visas in 2018 – SCTH president
22 November 12:29 PM KSA to issue tourist visas in 2018 –SCTH president
Riyadh – Mubasher: Saudi Arabia will issue tourist visas in 2018, said the president of Saudi Commission for Tourism and National Heritage (SCTH), Sultan bin Salman. Tourist visas will be introduced electronically, CNN reported citing bin Salman …
L'azurde extends MoU with Tamkeen’s unit
22 November 12:02 PM L'azurde extends MoU with Tamkeen’s unit
Riyadh – Mubasher:  Saudi Arabia's L'azurde Company for Jewellery agreed to extend the memorandum of understanding (MoU) with Izdiad Commercial Company of Arabia until the end of February 2018 regarding full takeover of Izdiad's capital, which …
The SME sector represents a proper solution for the GCC's governments to create jobs for young people
22 November 11:53 AM GCC-based SMEs to surge 156% to $920bn in 5yrs - MRP
Abu Dhabi – Mubasher: MENA Research Partners (MRP) on Wednesday published a study on the Small and Medium-Sized  Enterprises (SMEs) sector in the GCC countries. The study found that SMEs in the Gulf region have a potential to grow 156% to $920 …
By 10:49 am KSA time, TASI’s trading volume reached 31.02 million shares through 16,650 deals, generating SAR 604.26 million
22 November 11:26 AM TASI surges 39 pts, Nomu drops at Wednesday’s open
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) started Wednesday in the green after its main Tadawul All Share Index (TASI) levelled up 0.57% or 38.80 points to 6,817.12 points. By 10:49 am KSA time, TASI’s trading volume amounted to 31.02 …
First Investment receives tax's value from Saudi unit
22 November 10:42 AM First Investment receives tax's value from Saudi unit
Mubasher: Kuwait-based First Investment on Wednesday said it received the tax value from one of its subsidiaries in Saudi Arabia, while its stake in the unit reduced to SAR 3.36 million ($897,000), from SAR 22.76 million ($6.07 million). A profit …
GFH affirms its plans for listing in Tadawul
22 November 09:34 AM GFH affirms its plans for listing on Tadawul
Dubai – Mubasher: Bahrain's GFH Financial Group on Wednesday confirmed its plans to complete listing requirements of the Saudi Stock Exchange (Tadawul). GFH also plans to obtain the approval of the Central Bank of Bahrain (CBB) regarding this …
Implementation of VAT on 50% of commodities and services will shoot up inflation rate by 2.5%
21 November 06:52 PM Saudi Arabia to impose VAT on 50% of products
Riyadh - Mubasher: Saudi Arabia’s inflation continued in the negative for the tenth month in a row, research firm Capital Economics said in a report on Tuesday, forecasting that inflation trajectory to change in the next year on the back of …
KSA's tax revenues jump 31%, hit near SAR 20m in Q3 – MoF
21 November 05:28 PM KSA's tax revenues jump 31%, hit near SAR 20m in Q3 – MoF
Riyadh – Mubasher: Saudi tax revenues surged 30.68% during the third quarter of the current fiscal year, compared to the year-ago period. The total value of the Kingdom’s tax revenues reached SAR 20.36 billion in Q3-17, compared to SAR 15.58 …