Top News

Annual revenues for Dubai hotels will reach $495 million by 2019
19 February 05:56 PM Dubai luxury spas to grow by 10.7% to 2021; Oman, Bahrain outperform
Dubai - Mubasher: Dubai’s 5-star hotel spas are expected to grow by a 10.7% compound annual growth rate (CAGR) by 2021, according to data released by Colliers International. The number of 5-star hotel spas in Dubai is set to rise to 157 by 2021 …
NCB’s capital will be increased to SAR 30 billion, up from SAR 20 billion
19 February 05:08 PM CMA nods to Saudi NCB's capital hike
Riyadh – Mubasher: The Saudi Arabia-based National Commercial Bank (NCB) has obtained the Capital Market Authority’s (CMA) approval for raising its capital by SAR 10 billion through bonus shares. NCB’s capital will be increased to SAR 30 billion, …
The oil-rich nation exported 7.05 million bpd in the last month of 2017
19 February 04:50 PM Saudi oil exports rise by 29,000 bpd in December – JODI
Riyadh – Mubasher: Saudi Arabia's crude oil exports increased by 29,000 barrels per day (bpd) on a monthly basis during December 2017. The oil-rich nation exported 7.05 million bpd in the last month of 2017, the Joint Organisations Data …
The cement producer's net profits amounted to SAR 97 million during Q4-17
19 February 04:37 PM Arabian Cement posts SAR 97m profits in Q4
Riyadh – Mubasher: Arabian Cement on Monday posted a 276% year-on-year surge in its net profits for the fourth quarter of 2017. The cement producer's net profits amounted to SAR 97 million during Q4-17, compared to SAR 25.8 million in the same …
19 February 04:31 PM QNB sees oil prices at $65 pb in 2018
QNB upgraded its forecasts for crude oil prices despite the recent fall
TASI grew 19.8 points, or 0.26%, to 7,528.24 points.
19 February 04:18 PM TASI rises, Nomu tumbles at Monday’s close
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) closed Monday in the green after its benchmark Tadawul All Share Index (TASI) grew 19.8 points, or 0.26%, to 7,528.24 points. TASI’s trading volume reached 147.65 million on Monday, against …
Male investors’ stood at 3.68 million by the end of Q4-17
19 February 03:16 PM Tadawul's female investors hike to 989,700 end Q4-17 – CMA
Riyadh – Mubasher: The number of female investors at the Saudi Stock Exchange (Tadawul) rose 1.8% or 17,800 year-on-year in the fourth quarter of 2017. Female investors’ number reached 989,700 in Q4-17, compared to 971,900 in the same period a …
The firm's debts exceeded the value of shares which will be issued during the capital hike
19 February 02:46 PM Gov't's arrears to Al Khodari exceed SAR 300m – CEO
Riyadh – Mubasher: Saudi authorities' arrears owed to Abdullah Abdul Mohsen Al-Khodari Sons Company have surpassed SAR 300 million, CEO Fawwaz AlKhodari stated.  The firm's debts exceeded the value of shares which will be issued during the capital …
Around 32 Saudi companies are nominated to be listed on the Emerging Market (EM) Index
19 February 02:07 PM Saudi market's potential weight to hit 2.3% after listing on MSCI
Riyadh – Mubasher: Saudi market's potential weight may reach 2.3% when it will be listed on Morgan Stanley Capital International’s (MSCI) index, according to consultation document posted on MSCI’s website. Around 32 Saudi companies are nominated …
The Shura Council also urged SWCC to boost renewable energy use in the desalination and water purification plants
19 February 01:02 PM Saudi SWCC to build desalination plants on beaches
Riyadh – Mubasher: Saudi Arabia's Shura Council, a top advisory council to the government, asked the Saudi Saline Water Conversion Corporation (SWCC) to establish desalination plants on the beaches, as well as water purification plants on dams’ …
19 February 11:57 AM Oil prices rise Monday, may be “tested”
Oil prices traded higher on Monday, extending gains from last week when prices had rebounded on stronger investor sentiment
Capital decrease will be implemented through cancelling 17 million shares
19 February 11:46 AM MetLife's board recommends 49% capital reduction
Riyadh – Mubasher: MetLife AIG ANB Cooperative Insurance Company’s board of directors on Monday recommended trimming capital by 48.6% to SAR 180 million from SAR 350 million. Capital decrease will be implemented through cancelling 17 million …
NOMU remained unchanged at the same levels of Sunday’s session.
19 February 11:16 AM TASI falls, Nomu stable at Monday’s open
Riyadh – Mubasher: The Saudi Stock Exchange’s Tadawul All Share Index (TASI) started Monday in the red after shedding 2.07 points, or 0.03%, to 7,506.37 points. By 10:45 am KSA time, TASI’s traded volume reached 27 million shares, through 17,900 …
The requests aim to meet the spiraling demand for the IoT
19 February 11:06 AM Saudi CITC renews request for licencing IoT
Riyadh – Mubasher: The Saudi Communications and Information Technology Commission (CITC) has renewed its request to obtain public consultation for issuing new licences for the Internet of Things (IoT). Public consultation requests will also …
Al Yamamah Steel to discuss 2017 dividends early March
19 February 10:39 AM Al Yamamah Steel to discuss 2017 dividends early March
Riyadh – Mubasher: Al Yamamah Steel Industries Co’s board of directors will discuss the dividends that were distributed during the full year 2017 on Tuesday, 6 March. The metal products manufacturer distributed SAR 1.5 dividends last year, …
Net profits declined to SAR 93.3 million last year versus SAR 216.3 million in 2016
19 February 10:02 AM City Cement’s profit falls 57% in 2017
Riyadh – Mubasher: The Saudi Arabia-based City Cement on Monday reported a 56.9% year-on-year drop in its net profits for the full year 2017, pressured by a 48% decline in the fourth-quarter profit. Net profits declined to SAR 93.3 million last …
TASI’s trading volume stood at 163.27 million shares on Sunday
18 February 04:19 PM TASI, Nomu fall at Sunday’s close
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) closed Sunday in the red after its main Tadawul All Share Index (TASI) slipped 2.03 points, or 0.03%, to 7,508.44 points. TASI’s trading volume stood at 163.27 million shares on Sunday, against …
China is the largest foreign holder of US government debt
18 February 01:29 PM KSA's US Treasury holdings hit $147.4bn in December
Riyadh – Mubasher: Saudi Arabia raised its holdings of the US Treasuries by 43.4% year-on-year or $44.6 billion in December 2017. The kingdom’s holdings of the US’ bonds and treasury bills (T-bills) amounted to $147.4 billion during the last month …
The firm attributed the fourth-quarter losses to a decline in gross written premiums
18 February 01:09 PM SABB Takaful turns to loss in Q4
Riyadh – Mubasher: SABB Takaful on Sunday said that it turned to loss during the fourth quarter of 2017, against posting profits in the same period the year before. The Saudi Sharia-compliant insurer's losses amounted to SAR 11.45 million in …
The firm’s losses reached SAR 2.9 million during Q4-17
18 February 12:50 PM Solidarity Takaful incurs SAR 2.9m loss in Q4
Riyadh – Mubasher: Solidarity Saudi Takaful on Sunday turned to losses in the fourth quarter of 2017, against achieving profits in the corresponding period in the prior year. The firm’s losses reached SAR 2.9 million during Q4-17, against SAR 16.5 …
Net profits reached SAR 2.66 million during Q4-17
18 February 12:35 PM Al Sagr Insurance’s profit drops 71% in Q4 on higher net claims
Riyadh – Mubasher: Saudi Arabia-based Al Sagr Cooperative Insurance on Sunday stated that its net profits retreated 71.3% in the fourth quarter of 2017, compared to the year-ago period. Al Sagr Insurance’s net profits amounted to SAR 2.66 million …
The UAE came the second among the GCC peers, holding $57 billion of the US’ Treasuries during December
18 February 11:36 AM GCC's US Treasury holdings fall 1.3% in December
By: Mahmoud Gamal Mubasher: The GCC countries’ holdings of the US Treasuries declined 1.3% to $254.4 billion in December 2017, compared to $257.65 billion a month earlier, according to US Department of the Treasury (USDT). Treasury holdings of …
By 10:50 am KSA time, TASI’s trading volume reached 49.5 million shares
18 February 11:21 AM TASI up, Nomu down early Sunday
Riyadh – Mubasher: The Saudi Stock Exchange’s Tadawul All Share Index (TASI) went up 29.3 points, or 0.39%, to 7,539.77 points in Sunday’s early trade. By 10:50 am KSA time, TASI’s trading volume reached 49.5 million shares, through 22,000 …
Go’s EGM on 13 February approved amortisation of SAR 157.5 million from its accumulated losses.
18 February 10:43 AM Go’s accumulated losses drop to SAR 225.95m of its capital
Riyadh – Mubasher: Etihad Atheeb Telecommunication (Go) on Sunday announced that its accumulated losses decreased to SAR 225.95 million, representing 47.82% of the telecommunications provider's capital after reduction. The Saudi Arabia-based firm …
Al Rajhi Bank recommended the distribution of SAR 4.06 billion in cash dividends
18 February 10:11 AM Al Rajhi Bank proposes SAR 2.5/shr dividends for H2-17
Riyadh – Mubasher: Al Rajhi Bank’s board of directors recommended the distribution of SAR 4.06 billion in cash dividends with a dividend per share of SAR 2.5, representing 25% of the share’s par value, according to a statement to the Saudi Stock …