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(Photo credit: Arabianeye - Reuters)
01:29 AM KSA general reserve reaches SAR 642bn by March-end – SAMA
Riyadh – Mubasher: The Saudi general reserve reached SAR 641.8 billion by the end of March, decreasing 29.2% year-on-year, according to the Saudi Arabia Monetary Authority (SAMA). Government reserve shed 0.01% month-on-month from SAR 641.78 …
(Photo credit: Arabianeye - Reuters)
12:24 AM KSA achieves faster steps in cutting costs – Official
Riyadh – Mubasher: Saudi government is making progress better than expected in cutting costs, which is the main reason for a stronger budget so far, vice economy minister said. Mohammed al-Tuwaijri added to Reuters that that government's plans to …
(Photo credit: Arabianeye - Reuters)
28 April 11:34 PM Oil rebalance going slow, steady - Barkindo
Mubasher: OPEC Secretary-General said that oil market rebalancing was never going to occur in "a linear fashion," according to a statement published on the organisation's website. "Slowly, steadily, but surely we are seeing light at the end of the …
(Photo archive)
28 April 11:11 PM SAMA assets record lowest level since August 2011
Riyadh – Mubasher: The assets of the Saudi Arabian Monetary Agency (SAMA) decreased 12.2% year-on-year in March 2017. SAMA’s assets reached SAR 1.971 trillion compared to SAR 2.245 trillion in March 2016, according to the authority's monthly …
(Photo credit: Arabianeye - Reuters)
28 April 02:05 PM Tadawul gains, Nomu loses in week
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) went up 0.68% or 46.74 points to reach 6,945.74 points in the week ended 27 April compared to 6,899.9 points last week. The market’s turnover increased 4% to SAR 15.366 …
(Photo Credit: Previous Statement)
27 April 05:21 PM Jabal Omar, Albilad securities ink MoU on Thursday
Riyadh – Mubasher: Jabal Omar Development signed a memorandum of understanding (MoU) with AlBilad Securities and Investment Co. to sell 93 housing units in the second phase of Jabal Omar project. The deal will last for four months starting from …
(Photo Credit: Company website)
27 April 04:42 PM Kayan turns profitable in Q1-17
Riyadh – Mubasher: Saudi Kayan Petrochemical turned profitable in the first quarter of 2017. The company posted profits of SAR 265.46 million in Q1-17, against losses of SAR 195 million in the year-ago period. Profits were attributable to …
(Photo Credit: Company website)
27 April 04:41 PM ACIG hires SKFH to manage merger with Malath
Riyadh – Mubasher: Allied Cooperative Insurance Group (ACIG) appointed Saudi Kuwaiti Finance House (SKFH) as a financial advisor to manage its merger with Malath Cooperative Insurance and Reinsurance. In March, the boards of the two Saudi-listed …
(Photo Credit: Arabianeye-Reuters)
27 April 04:33 PM Buruj to discuss FY16 dividends on 22 May
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Buruj Cooperative Insurance Co will meet on 22 May to discuss the dividends distribution for 2016. The company would distribute dividends of SAR 0.50 per share, totalling SAR 12.5 …
(Photo archive)
27 April 03:47 PM Aramco awards contracts worth SAR 78m to Arabian Pipes
Riyadh - Mubasher: Arabian Pipes Company won several contracts to supply Saudi Aramco with electric resistance welding (ERW) pipes at a value of SAR 78 million. The supply of the pipes will start in the fourth quarter of 2017 and Q1-18 from Riyadh …
(Photo Credit: Arabianeye-Reuters)
27 April 03:43 PM Nomu returns to losses on Thursday
Riyadh - Mubasher: The main index (NOMU) of the Nomu-Parallel Market fell 0.91% or 43.58 points to close at 4,740.49 points on Thursday. Traded value jumped to SAR 8.56 million on Thursday compared to SAR 3 billion on Wednesday, while traded …
(Photo Credit: Bank website)
27 April 03:38 PM Banque Saudi Fransi to start H2-16 dividends payout 4 May
Riyadh - Mubasher: Banque Saudi Fransi will start the distribution of cash dividends for the second half of 2016 on 4 May. The company will distribute dividends at SAR 0.50 per share or 5% of the par value, totalling SAR 601.11 million, according …
(Photo Credit: Arabianeye-Reuters)
27 April 03:22 PM Tadawul adds 29 pts at Thursday close
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) rose 0.42% or 28.71 points to 6,945.74 points at Thursday’s close. Traded value decreased to SAR 3.56 billion ($949 million) on Thursday compared to SAR 2.96 billion ($789 …
(Photo credit: Aramco's official Twitter account)
27 April 02:59 PM Peak oil demand ‘not in sight’ in next few decades – Aramco CEO
Riyadh – Mubasher: The peaking demand on oil will not loom over in the next few decades, Aramco’s CEO stated at the 18th International Oil Summit held in Paris on Thursday. “Long-term factors truly define and impact the energy industry, not …
Photo Credit: Arabianeye-Reuters
27 April 01:48 PM Swicorp advises Saudi firm on Agthia takeover deal
Mubasher: Swicorp has acted as the exclusive financial advisor for the Jeddah-based Delta Marketing Company in the divestment of its bottled water business to Agthia Group, a leading Abu Dhabi-based food and beverage company. Swicorp, a leading …
(Photo Credit: Arabianeye-Reuters)
27 April 01:37 PM Private transaction on Sadafco totals SAR 12m
Riyadh – Mubasher: One transaction privately executed on Saudia Dairy and Foodstuff Co's (Sadafco) shares totalled SAR 11.51 million on the Saudi Stock Exchange (Tadawul). The transaction saw the trading of 91,350 of the company's shares at SAR …
(Photo archive)
27 April 12:49 PM KSA chooses ISE for sukuk listing
Riyadh – Mubasher: Saudi Arabia has chosen the Irish Stock Exchange (ISE) to list its sukuk, which have been successfully issued weeks ago to be the world's largest sukuk issue at a value of $9 billion. In October, the Kingdom had listed its first …
(Photo archive)
27 April 12:34 PM Al-Khodari to auction equipment surplus mid-May
Riyadh – Mubasher: Abdullah Abdul Mohsen Al-Khodari Sons Company has signed an agreement with Abdullah Fouad Holding Co to conduct an auction for its equipment surplus. The step comes within the company’s plan to upgrade its plant and equipment, …
(Photo Credit: Arabianeye-Reuters)
27 April 12:10 PM Wafa hits 6M low Thursday on SAMA suspension
Riyadh – Mubasher: Saudi Indian Company for Cooperative Insurance (Wafa Insurance) saw a negative performance for its third session in a row. The stock retreated 3.66% to SAR 13.95 by 12:00 pm KSA time on Thursday. The insurance company had …
(Photo Credit: Arabianeye-Reuters)
27 April 10:59 AM Tadawul, Nomu open Thursday in red
Riyadh – Mubasher: The main index of the Saudi Stock Exchange (Tadawul) shed 0.08% or 5.59 points to 6,911.44 points at Thursday’s open. By 10:59 am KSA time, 53.71 million shares were exchanged through 18,770 transactions at a value of SAR 764.37 …
(Photo archive)
27 April 10:47 AM Albilad Capital lowers FV on Mobily to SAR 21
Riyadh – Mubasher: Albilad Capital expects the operational performance of Etihad Etisalat (Mobily) to "improve" in the second quarter of 2017.  The research firm stated some reasons for its anticipation, including demand for telecommunications …
(Photo archive)
27 April 09:57 AM Sadara's unit starts commercial operation of 4th plastic plant
Riyadh – Mubasher: Sadara Basic Services Company announced the start of commercial operations of its fourth and final polyethylene unit in Jubail Industrial City II. The fully-owned subsidiary by Sadara Chemical Company (Sadara) added that the …
(Photo Credit: Company Website)
27 April 09:10 AM SAMA seeks reason for Weqaya capital hike
Riyadh – Mubasher: Weqaya Takaful Insurance and Reinsurance Company has received a letter from the Saudi Arabian Monetary Authority (SAMA) asking the insurer to disclose before 25 May the purpose of the capital increase and how the proceeds would …
Annual dividends will be distributed as of Monday, 8 May (Photo Credit: Company Website)
27 April 08:55 AM Dallah Healthcare nods to annual dividends
Riyadh – Mubasher: Dallah Healthcare Co’s ordinary general meeting (OGM) approved on Wednesday, 26 April, a 20% cash dividend or SAR 2 per share for fiscal year 2016, according to a statement. The dividends will be distributed as of Monday, 8 May. …
Traders at Boursa Kuwait (Photo Credit: Arabianeye-Reuters)
27 April 07:43 AM GCC blue chips likely to attract investments
By: Mahmoud Gamal Mubasher: The Gulf stock markets are expected to see a sideways-to-bullish performance on Thursday as most stocks technically reached attractive price levels, analysts told Mubasher. Most investors tended to trade on blue chip …