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6 March 01:13 PM Saudi Arabia’s non-oil sector rebounds by 5-month fastest growth in February
Riyadh – Mubasher: Saudi Arabian non-oil businesses experienced a notable uptick in growth momentum during February 2024, with business activity surging at the fastest rate in five months after a dip to a two-year low in January. The headline …
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29 February 11:32 AM Alinma Bank issues $1bn tier 1 capital certificates
Riyadh – Mubasher: Alinma Bank has completed the issuance of $1 billion USD-denominated additional tier 1 capital certificates. A total of 5,000 certificates were sold at $200,000 for each and an annual yield of 6.50%, according to a bourse …
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27 February 10:57 AM Moody's Investors Service affirms credit ratings for 4 major Saudi companies
Riyadh – Mubasher: Moody's Investors Service has affirmed the 'A1' ratings of Saudi Basic Industries Corporation (SABIC), Saudi Telecom Company (stc) and Saudi Electricity Company (SEC), and the 'Baa1' rating of Saudi Arabian Mining Company …
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26 February 01:12 PM Alinma Bank to issue USD-denominated capital certificates
Riyadh – Mubasher: Alinma Bank is planning to issue USD-denominated Additional Tier 1 Capital Certificates to improve Tier 1 capital and serve general banking purposes. The issuance is expected to be conducted through a special purpose vehicle to …
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22 February 06:44 PM Saudi market cap skyrockets 450% as stated at 3rd Saudi Capital Market Forum
Riyadh – Mubasher: The market capitalisation of Saudi Arabia has jumped by 450% from SAR 2 trillion to SAR 11 trillion at the beginning of 2024, according to Senior Investment Advisor at State Street, Ramu Thiagarajan. Thiagaraja underscored the …
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22 February 05:56 PM Saudi Tadawul Group gears up to take SCMF abroad
Riyadh – Mubasher: Saudi Tadawul Group Holding is set to organize the first international Capital Market Forum on 9 May 2024, announced Khalid Al Hussan, the group's CEO. The first international Saudi Capital Market Forum will be organized in Hong …
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22 February 05:09 PM Muqassa, Instimatch Global pen MoU to launch Repo trading platform in Saudi Arabia
Riyadh – Mubasher: Muqassa signed a memorandum of understanding (MoU) with Instimatch Global to launch a Repo trading platform to enhance the financial infrastructure of the Saudi capital market. Under the MoU, Muqassa will conduct central …
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22 February 11:13 AM Saudis’ appetite for spending soars 46% ahead of Ramadan 2024 – Report
Riyadh – Mubasher: The spending sentiment of Saudi consumers surged 46% in 2024 compared to 2023, as more citizens show heightened enthusiasm for special Ramadan events in stores, Ramadan brand editions, and shopping during the festive season. …
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21 February 09:28 PM Saudi Arabia’s IPOs average $450m on NTP – anb Capital CEO
Riyadh – Mubasher: The National Transformation Program (NTP) adopted by Saudi Arabia has resulted in increasing the average size of initial public offerings (IPO) to $450 million from $367 million, Khalid Al Ghamdi, CEO of anb Capital, stated …
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21 February 09:20 PM Saudi Arabia aims for 70% non-cash payments by end 2025 - CitiGroup
Riyadh – Mubasher: Saudi Arabia is targeting turning 70% of domestic payments to non-cash by the end of 2025, stated Philip Drury, Global Head of Technology and Communications Banking, Capital Markets, and Advisory at CitiGroup. As of 2022, the …
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21 February 08:51 PM Tadawul sees over 120 listings in 3 years – Al Rumaih
Riyadh – Mubasher: The Saudi Exchange (Tadawul) has witnessed more than 120 listings over the past three years across all markets, CEO Mohamed Al Rumaih stated during the third edition of the Saudi Capital Market Forum this week.  Tadawul has also …
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21 February 08:11 PM Saudi Arabia could form majority of region’s MSCI EM – Goldman Sachs at Saudi Capital Market Forum
Riyadh – Mubasher: The MENA region could become 10% of MSCI Emerging Markets (EM) Index, with Saudi Arabia accounting for approximately 70% of this percentage, according to Goldman Sachs’ Richard Cormack, who is the Co-Head of Equity Capital …
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21 February 07:54 PM SAMA works on netting regulations, market framework
Riyadh – Mubasher: The Saudi Central Bank (SAMA) has been working on establishing netting regulations and developing a comprehensive framework for the local market, said Yazeed Alnafjan, Deputy Governor for Financial Innovation. SAMA’s recent …
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21 February 07:40 PM Saudi Arabia is ahead of investment targets, country’s GDP surpasses SAR 4trn – Al Falih
Riyadh – Mubasher: The gross domestic product (GDP) of Saudi Arabia has jumped to more than SAR 4 trillion from SAR 2.60 trillion in nominal terms, Minister of Investment, Khalid Al Falih stated during the third Saudi Capital Market Forum in …
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21 February 07:26 PM Saudi Arabia’s IPO pipeline soars 30% in one year - ElKuwaiz
Riyadh – Mubasher: The number of initial public offerings (IPOs) in the pipeline across the Saudi Exchange’s (Tadawul) Main market and the Nomu-Parallel market has surged 30% year-on-year (YoY) to 56, compared to the year before, said Mohammed …
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21 February 06:54 PM Saudi Capital Market Forum committed to fostering market diversification – Al Athel
Riyadh – Mubasher: The Saudi Capital Market Forum remains committed to fostering market diversification and uniting unique perspectives, an objective that drives the global capital market agenda forward, the Group Chief Sales and Marketing Officer …
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5 February 03:58 PM Saudi non-oil sector witnesses steady growth; PMI hits 55.4 in January
Riyadh – Mubasher: The headline seasonally adjusted Purchasing Managers’ Index (PMI) of Saudi Arabia dropped to 55.4 in January from 57.5 in December 2023, according to Riyad Bank’s latest data. The PMI reading was at its lowest level in exactly …
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1 February 04:44 PM Network International obtains SAMA licence to expand footprint in Saudi Arabia
Riyadh – Mubasher: Network International has obtained a Major Payment Institution (Major PI) licence from the Saudi Central Bank (SAMA) which will endorse merchant acquiring business in the Kingdom. Major PI licence will further allow Network …
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31 January 05:17 PM MENA green bonds see 155% jump in issuances; UAE, Saudi Arabia lead
Mubasher: The UAE and Saudi Arabia have dominated regional green bond league tables in 2023 with a combined 77% of total issuances in MENA, based on data from Bloomberg’s Capital Markets League Tables. The region witnessed an annual surge of 155% …
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21 January 01:53 PM stc tops ME telecom sector as most valuable brand with $13.9bn – Report
Riyadh – Mubasher: Saudi Telecom Company (stc) has maintained its top spot as the highest valuable brand in the telecom sector across the Middle East with $13.90 billion, according to Brand Finance Global 500 report for 2024. stc was the strongest …
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18 January 03:12 PM Qatar likely to sell 1st green bond shortly
Mubasher: Qatar is ready to sell its first green bond in the near future, Bloomberg cited the state Minister of Finance, Ali Al Kuwari, at the World Economic Forum in Davos. Al Kuwari stated: “We’re ready to do it very soon,” elaborating that “We …
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17 January 02:40 PM Egypt’s Paymob becomes 1st international fully licensed fintech in Oman
Cairo – Mubasher: Paymob, a global financial technology company headquartered in Egypt, has landed in Oman after receiving the Central Bank of Oman’s (CBO) Payment Service Provider (PSP) licence which made it the first international fintech firm …
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14 January 05:25 PM GO obtains regulatory approval for SAR 250m capital hike
Riyadh - Mubasher: The Capital Market Authority (CMA) approved Etihad Atheeb Telecommunication Company's (GO) proposal to raise its capital by SAR 250 million through a rights issue on 8 January 2024, according to a bourse disclosure. Based on the …
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3 January 03:46 PM Saudi non-oil sector improves in 2023-end; PMI hits 57.5
Riyadh – Mubasher: Saudi Arabia’s headline seasonally adjusted Purchasing Managers’ Index (PMI) remained unchanged at 57.5 in December 2023 when compared to November a month earlier, according to Riyad Bank’s latest data. The reading marked an …
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2 January 05:43 PM Oman's non-oil exports to Saudi Arabia surge 25.5%
Riyadh – Mubasher: Non-oil exports from Oman to Saudi Arabia climbed by 25.50% to OMR 774 million year-on-year (YoY) until September 2023, according to the Omani Ministry of Commerce, Industry, and Investment Promotion (MoCIIP). Jassim bin Saif Al …