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Egypt's Minister of International Cooperation, Rania El-Mashat
9 August 05:54 PM Egypt launches first platform for closing the gender gap accelerator
Cairo – Mubasher: The Egyptian Ministry of International Cooperation and the National Council for Women with the World Economic Forum hosted the first multi-stakeholder platform on “Closing the Gender Gap Accelerator”, the first in Africa and MENA …
A total of 282.12 million shares were traded on Sunday
9 August 04:50 PM Tadawul ends Sunday's session in green for sixth day
Riyadh – Mubasher: The Tadawul All Share Index (TASI), the main index of the Saudi Stock Exchange (Tadawul), closed Sunday higher by 0.40% or 30.34 points, backed by three gaining sectors. The index settled at the level of 7,530.31 points and …
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9 August 04:21 PM Saudi Cable reschedules more than SAR 180m facility
Riyadh – Mubasher: Saudi Cable Company (SCC) sealed on Sunday an agreement with a noncommercial creditor to reschedule a material supply facility offered by Noble Resources International. The total value of the credit facility is SAR 180.78 …
The Saudi firm recorded the highest dividend payout ratio in the past 12 months
9 August 04:02 PM Arriyadh Development ranks 1st amongst Tadawul-listed real estate developers
Riyadh – Mubasher: Arriyadh Development Company held the first spot among real estate developers listed on the Saudi Stock Exchange (Tadawul) as per the evaluation issued by Bloomberg L.P. on 20 July 2020. The Saudi firm generated the highest …
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9 August 02:23 PM Elm signs agreement to acquire Tabadul’s entire shares from PIF
Riyadh – Mubasher: Al Elm Information Security Company (Elm) has signed a share purchase agreement to take over the entire shares of the Saudi Company for Exchanging Digital Information (Tabadul) from the Public Investment Fund (PIF), in a step to …
The deal could have a positive impact on Saudi Re’s sales and financials
9 August 01:43 PM Saudi Re signs exclusive reinsurer deal with Malath
Riyadh – Mubasher: Saudi Re for Cooperative Reinsurance Company has signed an exclusive agreement with Malath Cooperative Insurance Company to provide reinsurance coverage on the Inherent Defects Coinsurance Programme managed by Malath on behalf …
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9 August 12:59 PM Saudi Aramco sees biggest single day crude production in April
Riyadh - Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has achieved its highest single-day crude oil production of 12.1 million barrels on 2 April 2020. The oil giant continues to expand its gas business to meet future global and domestic …
The reoffering process will take place from 11 to 12 August
9 August 11:43 AM Tihama’s rights issue 86.78% subscribed
Riyadh – Mubasher: Tihama Advertising and Public Relations Company on Sunday said a total of 8.677.641 million shares of the newly offered shares have been subscribed at a value of SAR 86.776 million. The company’s rights issue was subscribed by …
One of the companies will specialise in medical supplies and equipment
9 August 11:20 AM National Building to set up three new firms in Riyadh
Riyadh – Mubasher: The National Building and Marketing Company has begun procedures to establish three closed joint-stock companies based in Riyadh that operate in the fields of education, information technology, and medical supplies. The first …
Revenues shrank by 57.03% in Q2-20
9 August 10:38 AM Saudi Aramco’s profits down 73% in Q2; dividends approved
Riyadh - Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) gained SAR 24.62 billion in net profits during the second quarter (Q2) of 2020, down by 73.41% from SAR 92.59 billion in the corresponding quarter a year earlier. The decrease in …
The portfolio comprises 7 schools located in Riyadh, Jeddah, Yanbu, and AlKhobar
9 August 10:19 AM Al Khaleej Training inks MoU with Alkhabeer Capital to acquire firms
Riyadh – Mubasher: Al Khaleej Training and Education Company signed a non-binding Memorandum of understanding (MoU) with Alkhabeer Capital to acquire a portfolio of educational firms owned by private funds managed by Alkhabeer. In case a final …
Revenue amounted to SAR 7.485 million in Q2-20
9 August 09:52 AM SARCO posts 30% lower profits in Q2-20
Riyadh – Mubasher: Saudi Arabia Refineries Company’s (SARCO) net profits decreased by 30.55% in the second quarter (Q2) of 2020, reaching SAR 7.103 million, compared with SAR 10.227 million in the same period in 2019. The lower quarterly earnings …
The third stage will be conducted on 5,000 participants in the kingdom
9 August 09:37 AM Saudi Arabia starts phase three clinical trial of COVID-19 vaccine
Riyadh – Mubasher: The Saudi Ministry of Health announced it began clinical trials for a coronavirus (COVID-19) vaccine in the kingdom, within the framework of a cooperation agreement between the kingdom and China, according to an official …
The contract duration is one year
6 August 05:36 PM Walaa Insurance ink SAR 9.5m deal with Advanced Petrochemical
Riyadh – Mubasher: Walaa Cooperative Insurance Company has signed an insurance agreement with Advanced Petrochemical Company. Under the SAR 9.53 million deal, Walaa will provide various insurance coverage services to the petrochemicals company, …
Quarterly profits amounted to SAR 36.2 million
6 August 05:30 PM City Cement posts 12.2% growth in Q2 profits
Riyadh – Mubasher: City Cement reported a 12.2% increase in net profit during the second quarter (Q2) of 2020 to SAR 36.2 million, compared with SAR 32.25 million in Q2-19, as shown by the company’s interim financial results. The company …
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6 August 05:23 PM ANB registers 46% lower profits in Q2
Riyadh – Mubasher: Arab National Bank (ANB) reported a 45.65% decline in net profit during the second quarter (Q2) of 2020 to SAR 486 million from SAR 894.2 million in Q2-19, as shown by the bank’s interim financial results. The decrease in net …
The total number of recoveries increased to 247,089
6 August 04:44 PM Saudi Arabia registers 1,402 COVID-19 cases
Riyadh - Mubasher: The Saudi Ministry of Health announced on Thursday 1,402 new coronavirus (COVID-19) cases to raise the total number of cases to 284,226. The total number of recoveries increased to 247,089, as 1,775 cases have recovered over the …
A total of 229.077 million shares were exchanged
6 August 04:23 PM TASI keeps upward performance for fifth session in row
Riyadh – Mubasher: The Tadawul All Share Index (TASI) has kept its upward performance for the fifth consecutive session after rising by around 0.40% or 29.71 points to end Thursday at 7,499.97 points. A total of 229.077 million shares were …
6 August 04:12 PM Lufthansa plans for compulsory job cuts
Lufthansa has given its workers a notice for compulsory job cuts after incurring EUR 1.7 billion operating losses in a single quarter.
The lender achieved net profit of SAR 2.436 billion in Q2-20
6 August 03:30 PM Aljazira Capital raises Al Rajhi Bank’s TP to SAR 57.80/shr
Riyadh – Mubasher: AlJazira Capital raised its target price (TP) for Al Rajhi Bank’s stock to SAR 57.80 from SAR 51.90 and maintained its “neutral” rating on the stock. “Even though the impact of COVID-19 has not entirely played out, the easing of …
6 August 12:50 PM Bank of England keeps interest rates unchanged, expects slower recovery
Mubasher: The Bank of England (BoE) maintained interest rates steady, but warned that the economy could take longer to recover from the coronavirus (COVID-19) crisis.
The total Sukuk issuance retreated by 12% in H1-20
6 August 12:44 PM Sukuk issuance to decrease 5% in 2020 - Moody's
Mubasher: Sukuk issuance will contract by 5% to around $170 billion in 2020 due to the coronavirus (COVID-19) pandemic, which is set to be limited by the financing needs in the GCC countries due to low oil prices, according to Moody's Investors …
H1 revenues shrank by 22.7% to SAR 54.81 billion
6 August 11:04 AM SABIC turns to losses in H1-20
 Riyadh – Mubasher: The Saudi Basic Industries Corporation (SABIC) logged net losses after zakat and tax of SAR 3.27 billion during the first half (H1) of 2020, versus SAR 5.35 billion net profits in the same half of 2019. The net losses are …
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6 August 10:11 AM Al Rajhi REIT Fund to distribute SAR 0.28/unit
Riyadh – Mubasher: Al Rajhi Capital will distribute about SAR 45.32 million in cash dividend to the unitholders of Al Rajhi REIT Fund for the first half (H1) of 2020. Dividends per Unit stand at SAR 0.28, representing 2.8% of the unit’s par value, …
6 August 10:01 AM US, China to review trade deal mid-August
The senior US and Chinese officials will come together on 15 August via videoconference to review the first phase of the bilateral trade deal.