Stocks News

Total distributions amounted to SAR 42.6 million, representing 10% of the share’s par value, according to a statement to the Saudi Stock Exchange (Tadawul)
20 August 05:53 PM Al Babtain to distribute SAR 1/shr dividends 10 September
Riyadh – Mubasher: Al Babtain Power and Telecommunication on Sunday said it will distribute cash dividends at SAR 1 per share on 10 September for the first half of 2017. Total distributions amount to SAR 42.6 million, representing 10% of the …
The Saudi Cable on Sunday announced that its accumulated losses exceeded SAR 121 million by the end of July 2017
20 August 05:30 PM Saudi Cable accumulated losses exceed SAR 121m end-July
Riyadh – Mubasher: The Saudi Cable Company on Sunday announced that its accumulated losses exceeded SAR 121 million by the end of July 2017, making up 29.94% of the firm’s capital. The losses are attributed to operational losses, according to the …
The Saudi Industrial Export Company (SIEC) on Sunday announced extending the memorandum of understanding (MoU) with Engaz Al Ittihad Mining Company
20 August 02:58 PM SIEC extends MoU with Engaz Al Ittihad for 3M
Riyadh – Mubasher: The Saudi Industrial Export Company (SIEC) on Sunday announced extending the memorandum of understanding (MoU) with Engaz Al Ittihad Mining Company for the coming three months, effective 22 August. The MoU is allocated for …
By 12:10 pm KSA time, Arabian Shield’s stock retreated 9.2% to SAR 42.65
20 August 01:03 PM Three insurance stocks top TASI losers
Riyadh – Mubasher: The stocks of Arabian Shield Cooperative Insurance Company, the Saudi Indian Company for Cooperative Insurance (Wafa Insurance), and Malath Cooperative Insurance Company led the Saudi Stock Exchange’s (Tadawul) losers during …
The total value of the transaction amounted to SAR 117.79 million, at SAR 10.66 per share
20 August 12:25 PM SABB to purchase 32.5% stake in SABB Takaful
Riyadh – Mubasher: The Saudi British Bank (SABB) signed on Thursday, 17 August, an agreement with subsidiaries of HSBC Holdings to purchase their 32.5% stake in SABB Takaful. The subsidiaries, which are part of the agreement, are Asia Holdings BV, …
The board of directors of Saudi Ground Services Co (SGS) on Sunday approved appointing Omar Mohamed Najjar as the new CEO
20 August 09:34 AM Ground Services names Najjar new CEO
Riyadh – Mubasher: The board of directors of Saudi Ground Services Co (SGS) on Sunday approved appointing Omar Mohamed Najjar as the new CEO of the company, effective 25 September 2017, according to a statement to the Saudi Stock Exchange …
Saudi Arabia-based, Kingdom Holding on Thursday denied that its chairman Alwaleed bin Talal will purchase a stake in on of the Russian banks
17 August 04:03 PM Bin Talal denies Russia banking investment, eyes other options
Riyadh – Mubasher: Saudi Arabia-based Kingdom Holding on Thursday denied that its chairman Alwaleed bin Talal will purchase a stake in a Russian bank, according to a press release. The statement came during a meeting between bin Talal and Alexey …
The deterioration in asset quality was “less severe” than the bank’s previous expectations
17 August 01:51 PM Bank of America Merrill Lynch upgrades Al Rajhi Bank outlook to 'Buy'
Riyadh – Mubasher: Bank of America Merrill Lynch on Thursday upgraded Saudi Arabia-based Al Rajhi Bank’s outlook to "Buy" from "Neutral" with a price target (PT) of SAR 75. “We see Al Rajhi's earnings momentum gathering pace in the second half of …
Jabal Omar Development a 466.8% year-on-year jump in profits for the quarter ended June 2017
17 August 10:57 AM Jabal Omar Q2 profits leap 467%
Riyadh – Mubasher: Jabal Omar Development on Thursday posted a 466.8% year-on-year jump in profits for the quarter ended 30 June 2017 (two months and 18 days), compared to the prior-year period. Net profit stood at SAR 53.8 million in the quarter …
Al Hokair's net profits reached SAR 232.4 million in Q1-17
17 August 10:36 AM Al Hokair profits reach SAR 232.4m in Q1
Riyadh – Mubasher: Fawaz Abdulaziz Al Hokair Co reported a 4.1% rise year-on-year in its profits during the first quarter ended 30 June 2017. Net profits reached SAR 232.4 million in Q1-17, compared to SAR 223.2 million in Q1-16, according to a …
Saudi Steel Pipe announced that its subsidiary Global Pipe Company, of which it owns 35%, has been awarded a manufacturing and supplying contract by Saudi Aramco
17 August 10:25 AM Saudi Steel Pipe subsidiary wins SAR 250m Aramco deal
Riyadh – Mubasher: Saudi Steel Pipe on Wednesday announced that its subsidiary Global Pipe Company, of which it owns 35%, has been awarded a manufacturing and supplying contract by the Saudi Arabian Oil Company (Saudi Aramco). The contract is …
Ash Sharqiyah Development posted a 94.85% year-on-year hike in losses for Q2-17
17 August 09:59 AM Ash Sharqiyah Development losses soar 95% in Q2
Riyadh – Mubasher: Ash Sharqiyah Development on Thursday posted a 94.85% year-on-year hike in losses for the second quarter of 2017, while losses rose 7.46%, compared to Q1-17. Net losses increased to SAR 3.87 million in Q2-17 from SAR 1.98 …
Net profits amounted to SAR 55.42 million in Q1-17, against losses of SAR 58.11 million in Q1-16, according to a statement to the Saudi Stock Exchange
16 August 07:12 PM Go turns to profits in Q1-17
Riyadh – Mubasher: Etihad Atheeb Telecommunication (Go) on Wednesday said it turned to profits in the first quarter of 2017 ended 30 June, compared to the year-ago period. Net profits amounted to SAR 55.42 million in Q1-17, against losses of SAR …
SABIC made the acquisition from Shell Chemicals Arabia LLC, according to a statement
16 August 06:45 PM SABIC acquires 50% stake in Sadaf
Riyadh – Mubasher: The Saudi Basic Industries Corp (SABIC) on Wednesday announced acquiring a 50% stake in the Saudi Petrochemical Company (Sadaf) at a value of $820 million. SABIC made the acquisition from Shell Chemicals Arabia LLC, according to …
The unsecured loan will end on 16 August 2022, and will be paid in one tranche, according to the SEC’s statement to the Saudi Stock Exchange (Tadawul)
16 August 05:58 PM SEC obtains 5-yr $1.75bn loan
Riyadh – Mubasher: The Saudi Electricity Company (SEC) on Wednesday signed a five-year international syndication loan agreement worth SAR 6.56 billion ($1.75 billion). The unsecured loan will end on 16 August 2022, and will be paid in one tranche, …
By 1:00 pm KSA time, the stock surged 9.08% to SAR 13.10, after 1.53 million shares were exchanged, through 976 transactions, generating SAR 19.6 million
16 August 02:26 PM Medgulf stock hits highest level in 9M on Wednesday
Riyadh – Mubasher: Mediterranean and Gulf Cooperative Insurance and Reinsurance’s (Medgulf) stock registered its highest level since nine months, or since 13 November 2016, during Wednesday's trading activities. By 1:00 pm KSA time, the stock …
Alhokair's shareholders approved a board recommendation to pay a bonus of SAR 200,000 for each board member
16 August 10:30 AM Alhokair to transfer retained earnings to next FY
Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company said that its shareholders voted Tuesday to transfer retained earnings as at 31 March to the next fiscal year. During the company's ordinary general meeting (OGM), the shareholders gave a nod to …
Dana Gas Egypt’s production output grew by 13% during the first half of 2017
15 August 04:02 PM Dana Gas to drill 3 new wells in Egypt
Abu Dhabi – Mubasher: Dana Gas on Tuesday said its receivables from the Egyptian government contributed to its profit growth during the first half of 2017. The Sharjah-based gas company also announced plans to drill three exploration wells on …
The National Commercial Bank (NCB) on Tuesday announced establishing a wholly-owned subsidiary named Peregrine Aviation Topco Limited
15 August 03:45 PM NCB establishes $50,000 aviation investment firm
Riyadh – Mubasher: The National Commercial Bank (NCB) on Tuesday announced establishing a wholly-owned subsidiary company named Peregrine Aviation Topco Limited with an authorised capital of SAR 187,500 ($50,000). Located in the Cayman Islands, …
Net profits declined to SAR 131.02 million in Q2-17, from SAR 141.76 million in Q2-16, according to a statement to the Saudi Stock Exchange (Tadawul)
15 August 12:31 PM Saudi Catering profits fall 8% in Q2
Riyadh – Mubasher: Saudi Airlines Catering on Tuesday said its net profits decreased by 7.6% year-on-year in the second quarter of 2017. Net profits declined to SAR 131.02 million in Q2-17, from SAR 141.76 million in Q2-16, according to a …
Losses reached SAR 2.15 million in Q2-17
14 August 10:44 PM TADCO narrows losses in Q2
Riyadh - Mubasher: Tabuk Agriculture Development Company (TADCO) reported a decline in net losses by 53.5% year-on-year during the second quarter of 2017, according to a bourse filing. The company’s financial statements also showed a 42.6% …
The plan includes boosting revenues and net profits by cutting down on provisions
14 August 07:21 PM Medgulf to reduce capital after accumulated losses
Riyadh – Mubasher: Mediterranean and Gulf Cooperative Insurance and Reinsurance (Medgulf) announced its plan to adjust the financial situation, which includes calling for an extraordinary general meeting (EGM) to approve the capital reduction …
A project of Jabal Omar near the Grand Mosque
14 August 04:19 PM Jabal Omar to issue SAR 4bn local sukuk
Riyadh – Mubasher: Jabal Omar Development is planning to raise SAR 4 billion by issuing SAR-denominated sukuk within the next few months, Reuters reported on Monday, citing sources as saying. It is not yet clear if the issuance will be carried out …
The ministry so far raised around EGP 470 million for the fund
14 August 03:36 PM Al Waleed bin Talal to pump new investments into Egypt
Cairo – Mubasher: Chairman of Kingdom Holding Company Al Waleed bin Talal intends to invest in Egypt Ventures; the fund of the investment and international cooperation ministry, Al Borsa newspaper reported on Monday, citing unnamed government …
Operating profits reached SAR 1.96 million
14 August 02:15 PM Al Kathiri posts SAR 1.86m profits in Q2
Riyadh – Mubasher: Al Kathiri Holding, listed on Saudi Arabia’s Nomu-Parallel Market, on Monday said it achieved SAR 1.86 million ($496,000) in net profits in the second quarter of 2017, with earnings per share (EPS) standing at SAR 0.65. …