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25 August 08:18 AM

Local Economy

Al Shehri is a graduate of Arabian Gulf University
22 August 06:13 PM Saudi gov’t appoints 1st ministerial spokeswoman
Riyadh – Mubasher: Saudi Arabia’s education minister, Hamad Al Alshaikh, has appointed the kingdom’s first ministry spokeswoman. The new spokeswoman for the Ministry of Education, Ibtisam Hassan Al Shehri, will become the voice of over six million …
Macroeconomics
Park Inn by Radisson Hotel Riyadh will comprise 193 rooms
22 August 05:04 PM Radisson Group to open 2 new hotels in Saudi Arabia in 2019
Riyadh – Mubasher: Park Inn by Radisson Hotel Group is set to open two new hotels in Saudi Arabia by the fourth quarter of 2019 in a move to strengthen its presence across Saudi Arabia, Saudi Gazette reported. The two hotels are Park Inn by …
Companies Investments
The decision was made on the back of the non-compliance with CMA's deadline
22 August 03:42 PM Tadawul suspends trading on Alujain, Thimar shares
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced that it has suspended trading on Alujain Corp and National Agricultural Marketing Company (Thimar) shares for one trading session on Thursday, 22 August. The decision was made on the …
This is the fourth batch of fodder barely on board 13 ships
22 August 02:53 PM SAGO to buy 780,000 tonnes of feed barley
Riyadh – Mubasher: The Saudi Grains Organization (SAGO) has offered a bid to import 780,000 tonnes of feed barley during the three-month period between October and December, the state-run news agency WAM reported.  This is considered the fourth …
Macroeconomics
The project comprises 28 offshore jackets
22 August 01:16 PM India’s LTHE, Subsea 7 win Saudi Aramco offshore contract
Riyadh – Mubasher: A consortium of India’s L&T Hydrocarbon Engineering (LTHE) and Subsea 7 company’s unit, Emas AMC, has been awarded a project by Saudi Arabian Oil Company (Saudi Aramco). The project comprises 28 offshore jackets in ZULUF, …
Macroeconomics
The newly established system will increase production capacity in Hajjah
22 August 12:12 PM SDRPY launches new electricity infrastructure in Hajjah
Riyadh – Mubasher: The Saudi Development and Reconstruction Program for Yemen (SDRPY) has established a new electricity infrastructure system in the northwestern province of Hajjah, Yemen. The newly established system will increase production …
Companies Investments
MEFMA aims at unifying the facility management industry in the Middle East
22 August 10:36 AM Al Futtaim Engineering inks strategic deal with MEFMA
Mubasher:  Al Futtaim Engineering and Technologies' facilities management division has signed on as a strategic corporate partner with the Middle East Facility Management Association (MEFMA), which was formed under the Dubai Association Centre …
Macroeconomics
The project’s total cost amounted to SAR 44.4 million
21 August 04:21 PM Almarai successfully completes Al Kharj Solar Project
Riyadh – Mubasher: Almarai Company has successfully finished Al Kharj Solar Project, making it the largest ground mount solar photovoltaic (PV) installation operating in the Kingdom of Saudi Arabia. The project’s total cost amounted to SAR 44.4 …
The countrywide growth rate is expected to reach 9% per year
21 August 04:06 PM Over 2,000 keys of branded supply joins Saudi market in Q2 – Colliers
Riyadh – Mubasher: More than 2,000 keys of branded supply joined the Saudi market during the second quarter of 2019, with 60% classified in the 4-star segment, Colliers International said in its quarterly review. 4-star supply typically caters to …
Ratings
The company sent invitations to qualified international consortiums
21 August 02:42 PM Saudi NWC offers bids for water project in Madinah, Tabuk
Riyadh – Mubasher: Saudi Arabia’s National Water Company (NWC) has invited nine local and international consortiums for the management, operation and maintenance of the Northwestern Water Sector that includes the Madinah and Tabuk regions. The …
Macroeconomics
Stimulus hopes have backed the economy’s monetary policy
21 August 11:16 AM Kuwait crude oil rises to $60.61 bpd on Tuesday – KPC
Mubasher: The price of Kuwait’s crude oil increased on Tuesday by 76 cents to settle at $60.61 per barrel (pb) from $59.85 per barrel (pb) last Monday, according to the official prices posted by the Kuwait Petroleum Corporation (KPC). Globally, …
Macroeconomics
The trade at last session will be extended to 20 minutes instead of 10 minutes
21 August 10:53 AM Tadawul to extend trade at last session to 20 minutes on Tuesday
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced the extension of the closing auction session to 20 minutes instead of 10 minutes on Tuesday, 27 August. Moreover, the trade at last session will be extended to 20 minutes instead of …
Macroeconomics
Saudi Arabia topped Abu Dhabi’s trade partners for 1st time in 5M
21 August 10:07 AM Saudi Arabia tops Abu Dhabi’s non-oil trade partners in 5M
UAE – Mubasher: Saudi Arabia has topped Abu Dhabi’s trade partners for the first time during the five-month period ended 31 May 2019, according to a recent report by the Statistics Centre - Abu Dhabi (SCAD). The emirate’s non-oil trade with Saudi …
Macroeconomics
A number of 15 projects were launched
20 August 10:38 PM Saudi Arabia launches $160m health projects
Riyadh – Mubasher: Saudi Arabia has launched SAR 600 million ($159.97 million) health projects in Al Jouf City. Al-Jouf’s governor, Prince Faisal Bin Nawaf, opened a group of health projects and laid the foundation of others, according to the …
Macroeconomics
Egypt imported 11 million tonnes of wheat in 2018
20 August 04:53 PM Egypt inspects Russian wheat shipments after explosion – Official
By: Mohamed Mowafy Cairo – Mubasher: The Egyptian Atomic Energy Authority (EAEA) will examine shipments of wheat and other food products coming from Russia, head of Egypt’s National Food Safety Authority (NFSA), Hussein Mansour, said. All …
Commodities
The kingdom’s exports dropped by about 221,000 barrel per day over June
20 August 04:04 PM Saudi crude oil exports fall to 6.72mpbd in June – JODI
Riyadh – Mubasher: Saudi Arabia's crude oil exports declined to 6.72 million barrels per day (mbpd) in June, compared to 6.94 mbpd in May, according to a recent report released by the Joint Organizations Data Initiative (JODI). The kingdom’s …
Macroeconomics
Lazard and Moelis have started preparatory work on the offering
20 August 03:15 PM Saudi Aramco picks Lazard, Moelis for its IPO
Riyadh – Mubasher: Saudi Arabian Oil Company, known for Saudi Aramco, has selected Lazard, the world's leading financial advisory and asset management firm, and Moelis & Co, the global independent investment bank to advise on the oil giant’s …
Banking and Finance
NANA has grown three times in turnover during 2018
20 August 02:13 PM Saudi online grocery platform NANA raises $6.6m investment from Impact46
Riyadh – Mubasher: The UAE-based Middle East Venture Partners (MEVP) and Impact46 have co-led an investment worth $6.6 million in Saudi-based Nana Direct, an online grocery platform serving 13 cities across the Kingdom. The deal marks the debut …
Companies Investments
Motiva expects to close the deal by the end of 2019
20 August 11:56 AM Saudi Aramco unit to buy chemical plant in US
Riyadh – Mubasher: Motiva, the US refining arm of Saudi Aramco, has signed an agreement to buy the Flint Hills Resources chemical plant nearby its Port Arthur, Texas, Reuters reported. Motiva did not disclose further details regarding the deal’s …
The holiday will start by the end of working hours on 19 September
20 August 10:42 AM Saudi Arabia announces National Day holiday
Riyadh – Mubasher: The Saudi Ministry of Civil Service (MCS) announced four-day holiday celebrating the Saudi National Day, according to MCS’ twitter account. The holiday will start by the end of working hours on Thursday, 19 September, and work …
The project will be established over an area of 46 feddans
19 August 01:22 PM Saudi Alhokair invests EGP 5bn in Mansoura mall
Cairo – Mubasher: Marakez for Real Estate Investment, a subsidiary of Saudi Arabia’s Fawaz Abdulaziz Alhokair, is set to lay the cornerstone of a new commercial mall in the Egyptian city of Mansoura in December, the Middle East News Agency (MENA) …
Macroeconomics
The event attracts senior-level decision makers
19 August 11:38 AM Cairo to host Intelligent Cities Exhibition & Conference on 23-24 October
Cairo – Mubasher: Cairo is set to host the fifth annual Intelligent Cities Exhibition & Conference (ICEC) on 23-24 October, according to a statement. The Middle East and Africa region’s leading smart and sustainable cities event will be organised …
Event
STC became the first Saudi company to be globally accredited for providing cloud-based services
18 August 02:23 PM STC wins VMware’s certificate for providing cloud computing service
Riyadh – Mubasher: VMware, which provides cloud computing and virtualization software and services, has awarded Saudi Arabia’s Saudi Telecom Company (STC) a certificate for providing cloud computing service. Accordingly, STC became the first Saudi …
Saudi ownership of US Treasuries reached $179.6bn in June
16 August 08:47 PM Saudi tops Arab holders of US Treasuries in June
Riyadh- Mubasher: Saudi Arabia investments in the US treasury bonds rose by 9.3% year-on-year during June 2019, increasing its stake of the US treasuries for the fifth month in a row. Saudi Arabia’s holdings of the US treasury bonds grew to $179.6 …
Macroeconomics
Saudi Arabia topped Arabs with $179.6bn holdings
16 August 07:03 PM Kuwaiti ownership of US Treasuries grows in June
Mubasher: Recent data showed that Kuwait’s holdings of the US Treasury bonds increased by 7.2% month-on-month in June 2019. Kuwait’s holdings of the US debt instruments went up to $44.4 billion in June 2019 from $41.4 in May. On a yearly basis, …
Banking and Finance