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10 August 08:35 AM

Local Economy

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 …
Macroeconomics
The joined members can now provide brokerage services for derivatives trading
9 August 05:11 PM Tadawul welcomes five members to derivatives market
Riyadh - Mubasher: The first group of the derivatives exchange members has joined the Saudi Stock Exchange’s (Tadawul) derivatives market after completing all necessary regulatory and technical requirements and procedures. The list includes NCB …
Derivatives
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 …
Ratings
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 …
Global Economy
Total payments made through SADAD registered SAR 174.136 billion in H1-20
5 August 04:11 PM SADAD payments in KSA down 21% in H1
Riyadh – Mubasher: Invoices paid through SADAD, one of the Saudi Arabian Monetary Authority’s (SAMA) payment systems, fell by 21.65% on a yearly basis in the first half (H1) of 2020, or SAR 48.031 billion. Total payments made through SADAD …
Central Banks
The price of 24-karat gold amounted to EGP 1,046 per gram
5 August 04:05 PM Egypt's gold prices rise to all-time high
Cairo – Mubasher: Gold prices continued its rising trend in the Egyptian market, reaching an all-time high on Wednesday, according to the gold division at the Federation of Egyptian Chambers of Commerce (FEDCOC). The price of 24-karat gold …
Macroeconomics
Event is now set to be held in March 2021
5 August 03:35 PM Riyadh Travel Fair 2020 delayed for second time
Riyadh – Mubasher: The Riyadh Travel Fair 2020 was postponed for the second time in 2020 because of the COVID–19 pandemic. The 2020 edition of the fair was initially scheduled to take place last March, with the date then postponed to September …
Event
The rating reflects Saudi Re’s strong brand and market position in Saudi Arabia
5 August 01:36 PM Moody’s maintains Saudi Re's IFSR at A3
Riyadh – Mubasher: Moody’s Investors Service has maintained an ‘A3’ insurance financial strength rating (IFSR) for Saudi Re for Cooperative Reinsurance Company, with a stable outlook The rating highlights Saudi Re’s strong brand and market …
Ratings
The 12-month outlook for non-oil business activity improved in July
5 August 01:11 PM Saudi PMI hits five-month high in July
Riyadh – Mubasher: Saudi Arabia’s non-oil private sector economy was stable at the start of the second half (H2) of 2020, with the headline seasonally adjusted IHS Markit Saudi Arabia Purchasing Managers' Index (PMI) rising to 50.0 in July from …
Macroeconomics
Photo Archive
4 August 04:08 PM KSA records 1,342 coronavirus cases on Tuesday
Riyadh – Mubasher: Saudi Arabia has reported 1,342 coronavirus (COVID-19) cases on Tuesday, bringing the total number of infections to 281,435 so far, according to a statement by the Ministry of Health. The kingdom’s death toll from the new …
The consumer debts for Q2-20 came in at SAR 335.77 billion
4 August 03:35 PM Saudi consumer debts up 5.3% in Q2
Riyadh – Mubasher: The overall value of consumer debts in Saudi Arabia increased by 5.3% year-on-year (YoY) in the second quarter (Q2) of 2020, equivalent to SAR 16.89 billion. The consumer debts for the April-June period of the year came in at …
Banking and Finance
Some of the loans will help SMEs gauge the coronavirus pandemic effects
4 August 02:56 PM Saudi ADF approves agricultural loans worth over SAR 337m
Riyadh – Mubasher: Saudi Arabia’s Agricultural Development Fund (ADF) has approved a number of loans as well as credit facilities and guarantees worth more than SAR 337 million to support to the kingdom's agricultural sector, Saudi Press Agency …
Board of Directors
The Saudi Consumer Price Index (CPI) rose by 1% YoY in Q2-20
4 August 11:04 AM Saudi inflation rate expected to rise in Q3 - SAMA
Riyadh – Mubasher: Saudi Arabia’s annual inflation rate is forecast to rise during the third quarter (Q3) of 2020, largely impacted by the hike in the value-added tax (VAT) to 15% from 5%. The summer vacation period has seen a relative increase in …
Macroeconomics
Photo Archive
4 August 09:34 AM Saudi customs relaxes restrictions for GCC trucks
Riyadh – Mubasher: Saudi Customs has eased the precautionary measurements imposed on trucks arriving from GCC countries, allowing those carrying goods for the kingdom to enter via land ports. However, truck drivers will be checked for COVID-19 …
Saudi Arabian Monetary Authority (SAMA)
3 August 04:38 PM Saudi banks’ investments in gov’t bonds down 4.6% in H1-20
Riyadh – Mubasher: Saudi banks have lowered their purchases of government bonds during the first half (H1) of 2020 by 4.6% year-on-year (YoY) or SAR 2.17 billion. The Saudi lenders' investments in government bonds amounted to more than SAR 44.5 …
Bonds
Photo Archive
3 August 01:56 PM Average Dubai crude oil price rises to $43.278 pb in July
Dubai – Mubasher: The average Dubai crude price, as quoted by price-reporting agency S&P Global Platts, marked its highest since February after rising by 2.487% in July 2020, Reuters reported on Monday citing sources in the oil industry as …
Commodities
The FDI inflow to the Arab region could shrink by more than 21% in 2020
3 August 12:09 PM Saudi Arabia is most attractive GCC destination for FDI in Q1
Riyadh – Mubasher: The number of new foreign direct investment (FDI) projects launched by GCC states to other countries went down by 8% in the first quarter (Q1) of 2020 to stand at 70 projects valued at $4.9 billion. The projects’ investment cost …
Sector Reports
Forbes launched the list last year
3 August 11:02 AM Fashion sector represents 42% of Forbes’ Women Behind Middle Eastern Brands 2020 list
Mubasher: This year’s Women Behind Middle Eastern Brands 2020 featured female trailblazers who managed to sustain their successful brands and push the boundaries despite the COVID-19 pandemic. The list, launched initially last year by Forbes, …
Global Economy
Khurais oil field started production in June 2009
2 August 05:31 PM Modon manufactures crude-stabilisation unit for Khurais field
Riyadh – Mubasher: The Saudi Industrial Property Authority (Modon) announced the completion of manufacturing a crude-stabilisation unit at one of Modon’s partner factories. The unit will be used in the development project of Khurais oil field, …
Macroeconomics
The bank credit increased to SAR 1.672 trillion
2 August 02:10 PM Saudi banks exceed maximum loan-to-deposit ratio in Q2-20
By: El-Sayed Gamal Riyadh – Mubasher: Deposits held by banks operating in Saudi Arabia grew by SAR 151.53 billion or 8.9% year-on-year (YoY) to SAR 1.843 trillion during the second quarter (Q2) of 2020 from SAR 1.691 trillion. Meanwhile, the value …
Banking and Finance
Saudi Arabia recorded 2,629 recovered cases
30 July 04:49 PM Saudi Arabia records 1,629 new COVID-19 cases
Riyadh - Mubasher: The total number of coronavirus (COVID-19) cases in Saudi Arabia has increased to 274,219 after 1,629 new cases were detected, the Saudi Ministry of Health announced on Thursday. Saudi Arabia recorded 2,629 recovered cases to …
The 400-megawatt project is being developed by a consortium of EDF Renewables and Masdar
29 July 03:21 PM Region's largest wind farm receives first batch of turbines
Riyadh – Mubasher: Dumat Al Jandal utility-scale wind farm in Saudi Arabia has received 20 wind turbines at Duba Port. The $500-million project was awarded to a consortium led by EDF Renewables in collaboration with Masdar in January 2019. The …
Macroeconomics
SABIC's polycarbonate facility in Cartagena, Spain
29 July 02:48 PM SABIC to power its polycarbonate facility in Spain by renewable energy
Riyadh – Mubasher: The Saudi Basic Industries Corporation (SABIC) on Wednesday signed an agreement to make its polycarbonate facility in Spain’s Cartagena the world’s first large-scale chemical site that is completely run by renewable power. …
Companies Investments
POS sales volume hiked by SAR 19.15 billion in H1-20
29 July 12:38 PM Saudi POS sales climb 14% in 6M
Riyadh – Mubasher: Point of sale (POS) terminals in Saudi Arabia signalled a 14% annual surge in the first half (H1) of 2020, despite the effects of the COVID-19 pandemic on the economic activity and consumers’ spending, and was recovered to its …
Sector Reports
Remittances amounted to SAR 69.43 billion in H1-20
29 July 11:32 AM Expat remittances in Saudi Arabia surge 13% in 6M
Riyadh - Mubasher: Remittances by expatriates in Saudi Arabia posted a 13% annual growth in the first half (H1) of 2020, equivalent to SAR 8 billion ($2.1 billion). Remittances amounted to SAR 69.43 billion ($18.5 billion) during the period ended …
Banking and Finance