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Etisalat became MENA's 1st operator to introduce 5G tech
1 hour ago Etisalat conducts 1st end-to-end 5G standalone call in MENA
Mubasher: Etisalat has completed the first end-to-end 5G standalone call in the Middle East and North Africa region in the UAE, Emirates News Agency reported on Saturday. The recent announcement followed the completion of a test conducted in the …
The plant will be located at Taweelah complex
2 hours ago EWEC, ACWA Power announce financial closing of Taweelah desalination plant
UAE – Mubasher: Emirates Water and Electricity Company (EWEC), a subsidiary of Abu Dhabi Power Corporation (ADPower), and Saudi Arabia's ACWA Power have announced the successful financial closing of the AED 3.19 billion Taweelah reverse osmosis …
This approval is conditional on the Company’s extraordinary general assembly approval
17 October 04:50 PM CMA approves Saudi Paper’s request of capital cut
Riyadh – Mubasher: The Capital Market Authority (CMA) has approved the Saudi Paper Manufacturing Company’s request to reduce its capital to SAR 92 million instead of SAR 245 million. This approval is conditional on the Company’s extraordinary …
NATPET received insurance compensation installments of SAR 330.67 million
17 October 03:07 PM Alujain unit to commence production at polypropylene plant in December
Riyadh – Mubasher: Alujain Corp’s unit, National Petrochemical Industrial Company (NATPET), announced that it will commence production at its polypropylene plant (PP) in December, following the fire incident that took place during the fourth …
Agility will enjoy all of the benefits offered to foreign investors
17 October 02:45 PM Saudi Customs, Agility ink MoU to build bonded area
Riyadh – Mubasher: The Saudi Customs signed a Memorandum of Understanding (MoU) with Agility Public Warehousing to transform some of the firms’ warehouses in Riyadh into bonded and re-export zone.     Accordingly, Agility will prepare the new …
Shaker plans to retrofit more than 250,000 existing government buildings
17 October 02:10 PM Shaker to retrofit over 250,000 existing government buildings – Interview
By: Mahmoud Salah El-Deen Riyadh – Mubasher: Al Hassan Ghazi Ibrahim Shaker plans to retrofit more than 250,000 existing government buildings, in addition participating in some of KSA’s strategic projects such as Neom and Red Sea, Azzam Saud …
The project aims to improve SSTPC’s ethylene annual capacity to 1.3 million tonnes
17 October 11:27 AM Construction works start at SABIC-Sinopec ethylene project in China
Riyadh – Mubasher: Construction works at China’s Sinopec-SABIC Tianjin Petrochemical Company Ltd (SSTPC) started on 14 October, Reuters reported, citing the company’s statement. The project aims to improve SSTPC’s ethylene annual capacity to 1.3 …
The project’s total cost amounted to SAR 290.4 million
17 October 11:05 AM BCI inks SAR 290m letter of intent with Al Hajri Corp
Riyadh – Mubasher: Basic Chemical Industries Company (BCI) has signed a letter of intent with Nasser Saeed Al Hajri and Partners Contracting Company, as a general contractor for the chlorine production project in Jubail Industrial City. Under the …
The company suffered SAR 71.01 million in losses in Q2-19
17 October 10:28 AM Alujain Corp turns to losses in Q2
Riyadh – Mubasher: Alujain Corp posted its interim financial statement for the second quarter of 2019. The company suffered SAR 71.01 million in losses in Q2-19, against profits of SAR 63.99 million in Q2-18, according to a bourse filing on …
Aslak’s net profits jumped by 10.9% to SAR 17.2 million in nine months
17 October 10:05 AM Aslak’s net profit hikes 120% in Q3
Riyadh – Mubasher: United Wire Factories Company (Aslak) disclosed its interim financial results for the third quarter of 2019. Net profits after zakat and tax soared 120% to SAR 1.1 million in Q3-19, compared to SAR 500,000 in Q3-18, according to …
Both firms have submitted the request through the automated system set by the Capital Market
16 October 04:35 PM Thob Al Aseel, Abo Moati to move to TASI
Riyadh – Mubasher:  Abdullah Saad Mohammed Abo Moati for Bookstores Company (Abo Moati) and Thob Al Aseel Company have submitted a request to move its shares to the main market Tadawul All-Share Index (TASI). Both firms have submitted the request …
Net profits after zakat and tax increased by 3.75% in Q3-19
16 October 04:03 PM Aldrees logs SAR 17m profits in Q3
Riyadh – Mubasher: Aldrees Petroleum and Transport Services Company (Aldrees) posted its interim financial results for the third quarter of 2019. Net profits after zakat and tax increased by 3.75% to SAR 16.6 million in Q3-19, compared to SAR 16 …
The company plans to pay SAR 1 per share
16 October 09:40 AM MIS to pay SAR 16m dividends for H1
Riyadh – Mubasher: The board of directors of Al Moammar Information Systems Company (MIS) has recommended distributing a 10% cash dividends to shareholders for the first half of 2019. The company plans to pay SAR 1 per share, or a total of SAR 16 …
The company has also received a new clinker export license
16 October 09:30 AM Al Jouf Cement renews export license
Riyadh – Mubasher: Al Jouf Cement Company has received its renewed cement export license on Tuesday, 15 October. The company has also received a new clinker export license, according to a filing to the Saudi Stock Exchange (Tadawul) on Wednesday. …
Al Kathiri’s board approved the transition to the main market
15 October 05:22 PM Al Kathiri requests moving to TASI
Riyadh – Mubasher: Al Kathiri Holding Company has submitted a request to move its shares to the main market Tadawul All-Share Index (TASI). The company has submitted the request through the automated system set by the Capital Market, according to …
Yamama Cement achieved SAR SAR 45.7 million in profits in Q3-19
15 October 05:12 PM Yamama Cement turns profitable in 9M
Riyadh – Mubasher: Yamama Cement Company reported its interim financial results for the third quarter of 2019. The company turned profitable achieving profits worth SAR 45.7 million in Q3-19, against losses of SAR 46.3 million in Q3-18, according …
The decision will be effective starting from Tuesday
15 October 02:11 PM Wafa Insurance’s board approves non-renewal of CEO’s contract
Riyadh – Mubasher: The board of directors of Saudi Indian Company for Cooperative Insurance (Wafa Insurance) has approved the request submitted by the CEO of the company,  Abdul Rahman Al Sahli, regarding not renewing his employment contract. The …
The collaboration includes the exchange of advanced production practices
15 October 12:36 PM Maaden, RDIF, PhosAgro to launch investments in Russia and Saudi Arabia
Riyadh – Mubasher: Saudi Arabian Mining Company (Maaden), the Russian Direct Investment Fund (RDIF), and PhosAgro, one of the world's leading producers of phosphate-containing fertilizers, have signed a partnership to launch several projects in …
The decision was based on a study performed by a consultancy house
15 October 10:44 AM Saudi Fisheries amends capital rise recommendation to SAR 400m
Riyadh – Mubasher: The board of directors of Saudi Fisheries Company (Alasmak) has amended its capital hike recommendation to SAR 400 million from SAR 101.1 million through a SAR 298.9 million rights issue. The decision was based on a study …
The plant’s annual installed capacity is expected to be up to 2 million tonnes of methanol
15 October 09:55 AM SABIC, RDIF ink deal to invest in ESN Group’s methanol plant in Russia
Riyadh – Mubasher: Saudi Basic Industries Corporation (SABIC), the Russian Direct Investment Fund (RDIF), and ESN Group have signed an agreement to invest in a project to design, build and operate a methanol plant in the Amur Region, in Russia’s …
The tender contract will have a duration period of four years and a half
14 October 04:10 PM Combined Group's branch in KSA wins KWD 10.7m tender
Mubasher: Combined Group Contracting Company announced that its branch in Saudi Arabia was awarded a tender worth KWD 10.746 million (nearly $35.5 million) that covers civil works services of the fields in Wafra. This tender was offered by the …
Almarai’s earnings continued in a declining trajectory and dropped 8.4% in Q3
14 October 03:21 PM Al Rajhi Capital sets TP of Almarai at SAR 51/shr
Riyadh – Mubasher: Al Rajhi Capital has maintained the target price of the Tadawul-listed company Almarai Company at SAR 51 per share, according to Al Rajhi’s statement on Monday. The research company noted that Almarai’s earnings continued in a …
The deal is renewable and will be effective for 30 days
14 October 10:22 AM NCLE inks MoU to acquire Al Ghad National School
Riyadh – Mubasher:  National Company for Learning and Education (NCLE) has signed a non-binding memorandum of understanding (MoU) with Al Ghad National School to acquire 100% of its shares. The deal is renewable and will be effective for 30 days …
Khalifa bin Abdullatif bin Abdullah Al Mulhem is the new chairman
14 October 09:34 AM Advanced Petrochemical names new chairman, vice-chairman
Riyadh – Mubasher: The board of directors of Advanced Petrochemical Company has appointed Khalifa bin Abdullatif bin Abdullah Al Mulhem as the company’s chairman. Waleed Mohammad Abdullah AlJaafari was hired as the company’s vice-chairman, …
The suspension will be implemented starting from Monday
14 October 09:25 AM Tadawul suspends trading on National Building’s stock
Riyadh – Mubasher: The Saudi Stock Exchange (Tadawul) announced that it has suspended National Building and Marketing Company’s stock from trading, as the company did not report its financial statements for the second quarter of 2019 during the …