Top News

Bin Salman is playing a major role in modernising Saudi Arabia
16 February 10:16 PM Bin Salman may close $4.3bn deal to buy Man United
Riyadh – Mubasher: Saudi Arabia’s Crown Prince Mohammad bin Salman (MBS) is ready to increase a EUR 3.8 billion ($4.29 billion) offer to buy the UK’s Manchester United Football Club from the Glazers before the coming season. The Glazers, the US …
15 February 11:41 PM Oil settles at 3M high on OPEC output decline
Oil prices finished on Friday at their highest level since last November as crude supplies from the Organization of Petroleum Exporting Countries sustained their decline.
15 February 10:51 PM Gold finishes at 2-week high Friday
Gold settled at a two-week peak on Friday, recording a slight gain for the week on progress in trade talks between the US and China.
15 February 09:46 PM US oil drillers add rigs for second straight week
US energy firms this week raised the number of active rigs drilling for oil for the second consecutive week.
15 February 09:23 PM Trump declares national emergency to build US-Mexico border wall
President Donald Trump on Friday announced that he is using emergency powers in an attempt to fund his pledged wall on the US-Mexico border.
15 February 06:16 PM US consumer sentiment rebounds in February after gov't shutdown
Preliminary estimates released by the University of Michigan indicated that the US consumer confidence recovered by the first half of February.
15 February 01:47 PM UK retail sales mark positive growth in January
​​​​​​​Mubasher: The quantity of the UK’s retail sales grew 0.7% quarter-on-quarter during the three-month period ended 31 January.
15 February 12:22 PM Oil begins Friday near stability
Mubasher: Oil went up on Friday, supported by the output cuts led by OPEC and the shutdown of a Saudi offshore oilfield.
14 February 11:12 PM Oil levels up at Thursday’s settlement  
Mubasher: Oil futures ended Thursday in green, supported by the optimism regarding the outcome of the trade talks between the US and China.  
14 February 10:06 PM Gold loses over $1 on Thursday
​​​​​​​Mubasher: Gold settled lower on Thursday, as the US reported negative economic data.
Al Khodari’s stock tumbled to SAR 6.31
13 February 11:59 AM Al Khodari's stock hits lowest level since listing Wednesday
By: Thabet Shehata Riyadh – Mubasher: The stock of Abdullah Abdul Mohsen Al Khodari Sons Company, listed on the Saudi Stock Exchange (Tadawul), on Wednesday registered its highest loss in around eight years and marked its lowest level since …
Moody's Investors Service has assigned a ‘Baa3’ rating to Almarai with a stable outlook
14 February 07:12 PM Moody's gives ‘Baa3’ rating to Almarai; outlook stable
Riyadh – Mubasher: Moody's Investors Service has assigned a ‘Baa3’ rating to Saudi company Almarai with a stable outlook. This rating reflects Almarai’s leading positing in the Saudi market and its increased earnings before interest, taxes, …
14 February 06:34 PM US natural gas storage dips as prices climb
The US natural gas inventories dropped by 78 billion cubic feet in the week ended 8 February, to a total of 1,882 Bcf.
TASI, Nomu end week in green
14 February 06:14 PM TASI, Nomu end week in green
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) finished the week ended Thursday, 14 February with a positive performance after the main Tadawul All Share Index (TASI) grew 13.4 points, or 0.16%, reaching 8,626.28 points from 8,612.84 points …
The food and beverages sector inched up 0.98%
14 February 05:47 PM TASI, MT30 rise; Nomu declines at Thursday’s close
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) closed Thursday in the green after its benchmark Tadawul All Share Index (TASI) rose 9.06 points, or 0.1%, to 8,628.28 points. TASI’s trading volume fell to 92.5 million shares, from 104.58 …
14 February 04:52 PM US producer prices fall 0.1% in January
The seasonally adjusted US producer price index for final demand ticked down 0.1% in January, official data released on Thursday showed.
14 February 04:39 PM US retail sales fall 1.2% in December
Preliminary estimates indicated that US retailers saw a month-on-month sales decline in December, official data showed on Thursday.
ABK will join Ripple’s network “RippleNet”
14 February 04:19 PM ABK partners with Ripple to integrate blockchain technology
Mubasher: Al Ahli Bank of Kuwait (ABK) has signed a partnership agreement with financial technology company Ripple, according to a press release on Thursday. Under this partnership, instant cross-border payments will be available for ABK’s …
The 50:50 JV will focus on enhancing retail fuel stations in the kingdom
14 February 03:59 PM Aramco, Total to pump $1bn in Saudi retail fuel JV
Riyadh – Mubasher: The Saudi Arabian Oil Co, known globally as Saudi Aramco, on Thursday has signed a contract with French energy major Total to establish a joint venture (JV) with total investments of $1 billion. The 50:50 JV will focus on …
Aramco hires banks for bond issue to finance SABIC stake acquisition
14 February 02:54 PM Aramco hires banks for bond issue to finance SABIC stake acquisition
Riyadh – Mubasher: State-owned Saudi Aramco has appointed banks to arrange the issuance of its first international bonds, sources told Reuters on Thursday. Proceeds from this bond issuance will be used to finance Aramco’s acquisition of a …
Saudi Crown Prince to sign oil, petrochemical deals during Pakistan visit
14 February 01:18 PM Saudi Crown Prince to sign oil, petrochemical deals during Pakistan visit
Riyadh – Mubasher: Pakistan will sign agreements in the oil and petrochemicals sectors with Saudi Arabia during a visit by Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud to the country, Pakistan’s petroleum minister Ghulam Sarwar Khan has …
14 February 01:10 PM Eurozone, EU28 grow at 0.2% in Q4
Preliminary reading indicated that gross domestic product in both the Eurozone and the 28-member European Union (EU28) rose 0.2% in the fourth quarter of 2018.
King Salman launches $22bn development projects in Riyadh
14 February 12:53 PM King Salman launches $22bn development projects in Riyadh
Riyadh – Mubasher: Saudi Arabia’s King Salman bin Abdulaziz Al Saud has uncovered plans to pump around $22 billion (SAR 82.51 billion) in investments across 1,281 projects in Riyadh to improve amenities, education, and infrastructure during the …
Saudi Arabia’s Finance Minister Mohammed Al-Jadaan
14 February 12:49 PM Saudi Arabia confirms money-laundering combat commitment
Riyadh — Mubasher: The decision of including Saudi Arabia in the European Union’s (EU) blacklist of 23 nations due to money-laundering activities “isn’t final”, the kingdom’s finance minister said in a statement. The move must first be approved by …
Indian and US companies accounted for 13.9% and 12.2% of Dubai’s foreign firms
14 February 12:25 PM UK firms top Dubai’s foreign branches; US, India follow – Report
Dubai – Mubasher: UK firms registered the highest number of foreign branches operating in Dubai with 28% of the total foreign influx, according to a new report. Foreign companies’ branches rose to 1,985 in Dubai, while the number of branches of …