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The company’s board approved distributing SAR 11 million in cash dividends for H2-20.
7 minutes ago Fitaihi Holding swings to profits in 2020; mulls capital cut
Riyadh – Mubasher: Fitaihi Holding Group turned profitable in the fiscal year (FY) ended on 31 December 2020, achieving SAR 30 million in net profits, against net losses of SAR 9.5 million a year earlier. Revenues jumped by 53.4% on an annual …
SPARK is expected to contribute $6 billion to the Saudi GDP
4 March 04:32 PM SPARK, AMCO pen deal to build new facility with SAR 260m investment
Riyadh – Mubasher: King Salman Energy Park (SPARK) and AMCO signed an agreement for the establishment of a facility for producing wellheads, pumps, coating, pipe drilling, and oilfield maintenance services. The investment value of the facility is …
Net annual profit in 2020 amounted to SAR 26.27 million
4 March 02:05 PM Bazeem profits rise 27% in 2020; plans 17.5% dividends
Riyadh – Mubasher: Baazeem Trading Company reported SAR 26.27 million in annual net profit after zakat and tax last year, recording an increase of 27.35% compared with the previous year. The growth in net profit in 2020 was driven by revenue …
Net profit reached SAR 609 million in 2020
4 March 01:57 PM Southern Province Cement posts 31.5% growth in annual profit
Riyadh – Mubasher: Southern Province Cement Company reported a 31.53% increase in net profit after zakat and tax last year, as shown by the company’s annual financial results on Wednesday. Net profit reached SAR 609 million in 2020, compared with …
The company registered SAR 90.17 million in net profit last year
4 March 01:48 PM Bawan reports 238.6% rise in 2020 profits
Riyadh – Mubasher: Bawan Company reported a 238.57% rise in its net profit in 2020, as shown by the company’s annual financial results. The firm registered SAR 90.17 million in net profit after Zakat and tax last year, compared with SAR 26.63 …
Dividends will be distributed at SAR 0.40 per share
4 March 01:40 PM ANB board recommends SAR 600m dividends
Riyadh – Mubasher: The board of Arab National Bank (ANB) has recommended the distribution of SAR 600 million in cash dividends to shareholders for the fiscal year 2020. The proposed dividends will be distributed at SAR 0.40 per share after Zakat, …
The five-year Sukuk was offered through a private placement in 2016
4 March 12:12 PM Sipchem plans early redemption of SAR 1bn Sukuk
Riyadh – Mubasher: Sahara International Petrochemical Company (Sipchem) on Thursday announced the proposed early redemption of its SAR 1 billion Sukuk in full at face value. The Sukuk was offered through a private placement in 2016 for an amount …
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4 March 11:46 AM Jadwa REIT buys Boulevard Riyadh for SAR 320m
Riyadh – Mubasher: Jadwa REIT Saudi Fund has signed an agreement to purchase Boulevard Riyadh, a retail and offices complex, in a SAR 320 million deal, Jadwa Investment Company disclosed to the Saudi Stock Exchange (Tadawul). Boulevard Riyadh has …
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4 March 11:33 AM Monshaat launches SME Bank to boost sector growth, fill financing gap
Riyadh – Mubasher: Saudi Arabia’s General Authority for Small and Medium Enterprises (Monshaat) launched the Small and Medium Enterprises (SMEs) Bank to increase funding for the SME sector and fill the financing gap. The aim is to strengthen …
The board of directors recommended a cash dividend at SAR 0.5 per share
4 March 11:28 AM Alandalus Property's profit sinks 78% in 2020; dividends proposed
Riyadh – Mubasher: Alandalus Property Company achieved net profit after Zakat and tax of SAR 14.34 million in 2020, sliding by 77.88% year-on-year (YoY) from SAR 64.8 million. The profit drop was mainly due to lower revenue from retail and …
The merger deal is expected to close in the second quarter of 2021
4 March 11:14 AM Anghami to be first Arab tech startup to list on Nasdaq
Mubasher: Anghami is set to become the first Arab technology company to list on Nasdaq New York by merging with Vistas Media Acquisition, a special purpose acquisition company (SPAC). The merger deal, which is expected to close in the second …
Revenues declined to SAR 278.72 million last year
4 March 10:40 AM Amlak International's profit surges 41% in 2020
Riyadh – Mubasher: Amlak International for Real Estate Finance Co. logged SAR 98.9 million in net profits after Zakat and taxes in 2020, up by 41.27% year-on-year (YoY) from SAR 70 million. The profit growth was ascribed to lower financing cost …
The fund seeks to acquire a new Riyadh-based real estate asset.
3 March 04:42 PM Jadwa REIT Saudi Fund seeks to raise assets by SAR 370m
Riyadh – Mubasher: Jadwa Investment Company, manager of Jadwa REIT Saudi Fund, said the fund’s board approved a suggested change in the fund’s total asset value. The fund seeks to acquire a new Riyadh-based real estate asset, subject to the …
The company’s board has proposed 25% of the share’s nominal value in H2-20 dividends.
3 March 04:30 PM Southern Province Cement proposes SAR 2.5/shr dividend for H2-20
Riyadh – Mubasher: Southern Province Cement Company is considering a cash dividend distribution of SAR 350 million to shareholders for the second half (H2) of 2020. The company’s board has proposed SAR 2.5 per share or 25% of the share’s nominal …
The step comes to support the company’s financial position.
3 March 04:12 PM Saudi Al Alamiya plans no dividends for 2020
Riyadh – Mubasher: The board of directors of Al Alamiya for Cooperative Insurance Company recommended not to distribute cash dividends for fiscal year (FY) 2020. The step comes to support the company’s financial position, according to a stock …
Saudi Advanced Industries Co. was the top gainer with 10%.
3 March 04:01 PM TASI grows 0.67% at Wednesday’s close
Riyadh – Mubasher: The Tadawul All Share Index (TASI) ended Wednesday’s trading session on a positive note, rising by 0.67% to 9,310.28 points. The trading values were SAR 14.8 billion today while the trading volume stood at 531.196 million …
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3 March 03:43 PM Hyundai Heavy, Saudi Aramco cooperate on hydrogen project
Riyadh – Mubasher: Hyundai Heavy Industries Holdings (HHIH) has signed a deal with the Saudi Arabian Oil Company (Saudi Aramco) to cooperate on a hydrogen project, according to local media reports in South Korea. Under the deal, Hyundai Oilbank, …
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3 March 02:39 PM Saudi Arabia to provide Covid-19 vaccines in community pharmacies for free
Riyadh – Mubasher: The Saudi Ministry of Health will provide the coronavirus (Covid-19) vaccines in community pharmacies free of charge inside the kingdom, the Minister of Health, Tawfiq Al-Rabiah, told Al Arabiya TV on Wednesday. The Saudi Food …
Cash withdrawals from ATMs shrank by 17.4% or SAR 10.98 billion annually in January 2021.
3 March 01:26 PM Consumer spending in Saudi Arabia at SAR 89.24bn in January
Riyadh – Mubasher: Consumer spending in Saudi Arabia was down by 2.4% or SAR 2.24 billion in January 2021 when compared to the year-ago month. Total consumer spending in the kingdom reached SAR 89.24 billion in January 2021, down from SAR 91.47 …
3 March 12:43 PM Samsung considers four sites in US for $17bn chip plant
Samsung Electronics Co is considering two sites in Arizona and two others in New York and Texas’ Austin for a new $17 billion chip plant.
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3 March 11:26 AM Saudi PIF likely to close its biggest-ever loan deal this week
Riyadh – Mubasher: The Saudi Public Investment Fund (PIF) is set to close a deal for its biggest loan ever as soon as this week, Bloomberg reported on Tuesday citing people familiar with the matter. The kingdom’s sovereign wealth fund is raising …
Firms remained hopeful that the impact of Covid-19 will lessen over the coming year.
3 March 11:05 AM Business conditions in Saudi Arabia improve more slowly in February
Riyadh – Mubasher: Economic conditions in Saudi Arabia continued to strengthen in February 2021, albeit the growth rate eased to a four-month low as both output and new orders expanded at weaker rates, according to a survey. The headline …
The insurer's profits amounted to SAR 251.8 million in 2020.
3 March 10:03 AM Al-Rajhi Takaful posts 131.3% profit hike in 2020
Riyadh – Mubasher: The net profit before Zakat of Al-Rajhi Company for Cooperative Insurance (Al-Rajhi Takaful) increased by 131.3% in 2020 to SAR 251.8 million. The growth in the insurer’s net profits was backed by an improvement in net claims …
The transaction is expected to be completed by the end of June 2021.
3 March 09:45 AM Alhokair, ACC to acquire 51% stake in UK's Vogacloset
Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Co. (Alhokair) and Arabian Centres Company (ACC) will acquire a combined 51% stake in Vogacloset, a UK-based online fast fashion platform offering over 400 brands in the latest women’s, men’s and kids’ …
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3 March 09:26 AM Alinma Bank plans SAR 0.3/shr dividends for 2020
Riyadh – Mubasher: Alinma Bank’s board recommended distributing cash dividends of 3% of the share’s nominal value to shareholders for 2020. This is equivalent to SAR 596.121 million or SAR 0.30 per share, according to a stock exchange filing on …