Top News

Alwaleed has topped the same list for nine years in a row
26 September 04:48 PM Alwaleed tops list for most influential Arabs
Riyadh - Mubasher: Prince Alwaleed bin Talal has been ranked number one in Middle East Magazine’s 2017 list of the World’s 50 Most Influential Arabs, for the ninth consecutive year. The chairman of Kingdom Holding Company (KHC) and Alwaleed …
Tadawul’s turnover increased to SAR 2.81 billion ($749 million) on Tuesday
26 September 04:38 PM TASI closes Tuesday higher; NOMU falls
Mubasher: The benchmark Tadawul All Share Index (TASI) of the Saudi Stock Exchange (Tadawul) closed Tuesday’s trading session 0.22% or 15.97 points higher at 7,240.1 points. Tadawul’s turnover increased to SAR 2.81 billion ($749 million) on …
Zain and Mobily continue to work on controlling costs
26 September 02:12 PM STC remains defensive pick as telecom earnings drop in Q3 – Report
Riyadh – Mubasher: Al Rajhi Capital on Tuesday said that the Saudi telecommunications sector is likely to witness a drop in earnings for the third quarter of 2017. Factors that lead to this decline include; longer than usual school holidays, …
SIECO will export Wafrah's products to Iraq, Jordan, and North Africa.
26 September 12:27 PM Wafrah, SIECO sign 1Y distribution contract
Riyadh – Mubasher: Wafrah for Industry and Development on Monday signed a sales and distribution agreement with Saudi Industrial Export company (SIECO) to export its products to Iraq, Jordan, and North Africa. The agreement term is one year, …
Saudi Arabia's minister of finance Mohammed Al-Jadaan
26 September 10:38 AM Aramco IPO to launch in 2018 - Al-Jadaan
Riyadh – Mubasher: Saudi Arabia's minister of finance Mohammed Al-Jadaan told bond investors on Monday during a presentation that the initial public offering (IPO) of the Saudi Arabian Oil Company (Saudi Aramco) will be carried on as planned in …
Bank Albilad to distribute SAR 0.3/shr dividends for H1-17
26 September 09:47 AM Bank Albilad to distribute SAR 0.3/shr dividends for H1
Riyadh – Mubasher: Bank Albilad’s board of directors approved the distribution of dividend totalling SAR 180 million to shareholders for the first half of 2017. The bank will distribute dividends at SAR 0.3 per share, representing a par value of …
Trump is expected to propose cutting corporate tax rate to 20%
26 September 12:27 AM Trump to unveil more tax reform details Wednesday
Mubasher: US president Donald Trump is set to reveal new details of his tax reform plan on Wednesday, according to the White House. The White House press secretary Sarah Huckabee Sanders said in a press conference on Monday that Trump will give a …
Al Akaria, TYPSA ink SAR 11m deal to design hotel complex
25 September 06:15 PM Al Akaria, TYPSA ink SAR 11m deal to design hotel complex
Riyadh – Mubasher: Saudi Real Estate Company (Al Akaria) on Monday, 25 September signed a SAR 10.9 million ($2.9 million) agreement with Tecnica Y Proyectos S.A. (TYPSA) to design a mixed-use hotel complex. The project will be located in North …
The main index closed at its lowest level since 20 August
25 September 04:17 PM TASI sees highest decline in two months
Riyadh - Mubasher: The Saudi Stock Exchange (Tadawul) ended Monday’s trading session in red, witnessing its highest daily loss since last July. The Tadawul All Shares Index (TASI) declined by 1.39% or 102.19 points, and closed at the level of …
This is the kingdom’s second bond issuance in 2017
25 September 04:13 PM KSA names 5 banks to manage USD-bond sale
Riyadh – Mubasher: The Saudi Ministry of Finance (MoF) on Monday said that it has authorised several domestic and international banks to manage the sale of the government’s US dollar-denominated sale. Reports forecast that the new issue of …
Nine firms see IPOs in H1-17 at SAR 3.2bn – CMA
25 September 02:38 PM Nine firms see IPOs in H1-17 at SAR 3.2bn – CMA
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) on Monday said that the initial public offerings (IPOs) of the companies on the Saudi Stock Exchange (Tadawul) reached nine at a value of SAR 3.173 billion during the first half of 2017. …
The prospectus will be disclosed long enough before starting the IPO of Awazel
25 September 01:48 PM Saudi CMA nods to Boubyan Petrochemical’s associate IPO
Mubasher: Boubyan Petrochemical said that the Saudi Capital Market Authority (CMA) approved on 21 September issuing 8.19 million of Arabian Waterproofing Industries Co.’s (Awazel) shares for the initial public offering (IPO). This stake represents …
KSA’s imports, exports reach SAR 9bn in 17 days – Al-Eisa
25 September 12:37 PM KSA’s imports, exports reach SAR 9bn in 17 days – Al-Eisa
Riyadh – Mubasher: Saudi Arabian imports reached 909,000 tonnes worth SAR 4.2 billion, whereas exports reached 1.6 million tonnes amounting to SAR 4.8 billion until 9 September, aleqtisadiah newspaper on Monday said, citing Saudi Customs’ …
The banks and materials sectors levelled down 0.51%, and 0.5%, respectively
25 September 11:17 AM Blue Chips push TASI down, Nomu stable early Monday
Riyadh – Mubasher: The Saudi Stock Exchange’s Tadawul All Share Index (TASI) opened Monday in the red zone after dropping 0.39% or 28.38 points to reach 7,297.94 points. By 10:31 am KSA time, TASI’s traded volume amounted to 11.79 million shares, …
Saudi CMA suspends trading on Go’s stock Monday
25 September 10:33 AM Saudi CMA suspends trading on Go’s stock Monday
Riyadh – Mubasher: Trading activities on the stock of Etihad Atheeb Telecommunication (Go) will be suspended effective Monday, 25 September, the Capital Market Authority (CMA) of Saudi Arabia on Monday said. The stock's trading suspension was …
MedGulf’s EGM approved capital cut to SAR 400m
25 September 09:51 AM MedGulf’s EGM approved capital cut to SAR 400m
Riyadh – Mubasher: MedGulf Insurance and Reinsurance Cooperative Company’s (MedGulf) Extraordinary General Meeting (EGM) approved on Friday, 22 September to reduce its capital to SAR 400 million from SAR 1 billion. The capital decrease will be …
Photo Archive
24 September 05:40 PM KSA to introduce new bankruptcy law early 2018
Riyadh - Mubasher: It was reported on Sunday that Saudi Arabia is set to begin implementing a new bankruptcy law early next year. The new law would be part of the Saudi government efforts to attract more foreign investment, as under the current …
SCTH to implement SAR 1.1bn projects during 2017
24 September 05:23 PM SCTH to implement SAR 1.1bn projects during 2017
Riyadh – Mubasher: The Saudi Commission for Tourism and National Heritage (SCTH) launched six initiatives at a value of SAR 1.1 billion in 2017 ($296 million) which were included in the National Transformation Program 2020. These initiatives are …
Delta for Construction and Rebuilding on Sunday signed an EGP 641 million joint loan agreement
24 September 04:08 PM Delta for Construction and Rebuilding wins EGP 641m joint loan
Cairo – Mubasher: Delta for Construction and Rebuilding on Sunday signed an EGP 641 million joint loan agreement with Banque Misr and the Arab African International Bank (AAIB). Delta for Construction and Rebuilding is a subsidiary of Egyptian …
The UAE’s economy will not be negatively impacted by other GCC members not implementing the value added tax (VAT)
24 September 02:28 PM GCC members not applying VAT not to impact UAE – Al Bustani
Abu Dhabi – Mubasher: The UAE’s economy will not be negatively impacted by other GCC members not implementing the value added tax (VAT), Emarat Al Youm newspaper reported, citing Federal Tax Authority (FTA) director general Khalid Al Bustani as …
Saudi Arabia-based Flyadeal launched on Saturday, 23 September its first commercial flight to Riyadh from Jeddah
24 September 11:20 AM KSA's Flyadeal started its commercial flight Saturday
Riyadh – Mubasher: Saudi Arabia-based Flyadeal launched on Saturday, 23 September its first commercial flight to Riyadh from Jeddah in accordance with celebrating the occasion of the Saudi National Day. The chairman of Flyadeal, and the director …
The UAE is willing to fully execute the Gulf Railway
24 September 10:33 AM GCC Ministers of Transport defer Gulf Railway execution
Abu Dhabi – Mubasher: The Committee of Ministers of Transport and Communication in the GCC has decided to postpone the implementation of the Gulf Railway to 2020 – 2021 instead of 2018. The UAE is willing to fully execute this project, minister of …
Tadawul will suspend its trading activities on Sunday, 24 September
24 September 10:30 AM Tadawul suspends trading Sunday for National Day
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) will suspend its trading activities on Sunday, 24 September on the occasion of celebrating the Saudi National Day. Trading activities will resume on Monday, 25 September. On Thursday, the …
The third quarter of 2017 is nearing its close, which means that financial disclosures will prompt portfolios to purchase stocks
24 September 09:01 AM Saudi, Kuwaiti stocks likely to rise ahead of FTSE results - Analysts
By: Mahmoud Gamal Mubasher: Gulf bourses are likely to rise this week with listings on the FTSE Emerging Markets Index coming in focus, analysts told Mubasher. GCC stock markets are heading towards a “temporary rise”, particularly Saudi and …
Investors in the Saudi Stock Exchange (Tadawul) are anticipating a series of important events during this week in the period from 24 until 28 September
23 September 04:06 PM Tadawul awaits important events this week
Riyadh – Mubasher: Investors in the Saudi Stock Exchange (Tadawul) are anticipating a series of important events during this week in the period from 24 until 28 September. Saudi Arabian Fertilizer Co (SAFCO) on Tuesday, 26 September will start …