Stocks News

Thamer has over 20 years of experience
15 February 12:38 PM Halwani Bros hires new CEO
Riyadh – Mubasher: The board of Halwani Bros Co. has appointed Thamer Mohammad Gameil as CEO. The new CEO will begin his job officially as of 1 April, according to a statement to the Saudi Stock Exchange (Tadawul). Thamer has over 20 years of …
Moody's Investors Service has assigned a ‘Baa3’ rating to Almarai with a stable outlook
14 February 07:12 PM Moody's gives ‘Baa3’ rating to Almarai; outlook stable
Riyadh – Mubasher: Moody's Investors Service has assigned a ‘Baa3’ rating to Saudi company Almarai with a stable outlook. This rating reflects Almarai’s leading positing in the Saudi market and its increased earnings before interest, taxes, …
ABK will join Ripple’s network “RippleNet”
14 February 04:19 PM ABK partners with Ripple to integrate blockchain technology
Mubasher: Al Ahli Bank of Kuwait (ABK) has signed a partnership agreement with financial technology company Ripple, according to a press release on Thursday. Under this partnership, instant cross-border payments will be available for ABK’s …
Aramco hires banks for bond issue to finance SABIC stake acquisition
14 February 02:54 PM Aramco hires banks for bond issue to finance SABIC stake acquisition
Riyadh – Mubasher: State-owned Saudi Aramco has appointed banks to arrange the issuance of its first international bonds, sources told Reuters on Thursday. Proceeds from this bond issuance will be used to finance Aramco’s acquisition of a …
Net profits after calculating Zakat and Tax hit SAR 6.95 million in Q4-18
14 February 10:08 AM Yamama Cement incurs SAR 51.8m loss in 2018
Riyadh – Mubasher: Saudi Arabia’s Yamama Cement on Thursday reported a 43.2% year-on-year profit decline during the fourth quarter of 2018. Net profits after calculating Zakat and Tax hit SAR 6.95 million in Q4-18, compared to SAR 12.2 million …
The decline in demand was harmful to sales
13 February 07:22 PM Sipchem to see better demand in Q2 – CEO
Riyadh – Mubasher: Demand on Saudi International Petrochemical Co's (Sipchem) products is expected to rise in the second quarter of 2019, given the improvement in oil prices and the return of demand from China, Sipchem’s CEO Ahmad Al-Ohali said on …
The reduced loss was due to the increase in Zain’s revenues
13 February 06:07 PM Saudi Zain trims accumulated losses to SAR 1.8bn
Riyadh – Mubasher: Mobile Telecommunication Company Saudi Arabia (Zain) on Wednesday announced reducing its accumulated losses to 30.84% of its SAR 5.837 billion ($1.56 billion) capital from 38.77% previously. The announcement came with the …
Saudi CMA nods to Bank Al Bilad's SAR 1.5bn capital hike
13 February 05:36 PM Saudi CMA nods to Bank Al Bilad's SAR 1.5bn capital hike
Riyadh – Mubasher: The Saudi Capital Market Authority (CMA) has approved Bank Al Bilad’s request to raise its capital by SAR 1.5 billion to SAR 7.5 billion from SAR 6 billion currently. The capital hike would be carried out by issuing one bonus …
KFH and AUB Bahrain signed an agreement to merge their operations in 2018
13 February 04:56 PM Kuwait C.bank gives initial nod to KFH, AUB Bahrain merger
Mubasher: Kuwait Finance House (KFH) announced that the Central Bank of Kuwait (CBK) has granted its initial approval for the merger with Ahli United Bank – Bahrain (AUB Bahrain), according to a bourse disclosure on Wednesday. In January, KFH said …
Al Khodari’s stock tumbled to SAR 6.31
13 February 11:59 AM Al Khodari's stock hits lowest level since listing Wednesday
By: Thabet Shehata Riyadh – Mubasher: The stock of Abdullah Abdul Mohsen Al Khodari Sons Company, listed on the Saudi Stock Exchange (Tadawul), on Wednesday registered its highest loss in around eight years and marked its lowest level since …
Investcorp and Standard Life Aberdeen Plc plan to raise $800 million to $1 billion for the fund
13 February 11:10 AM Investcorp, Aberdeen Standard launch GCC infrastructure investment JV
Mubasher: Bahrain-based Investcorp and asset manager Aberdeen Standard Investments (ASI) on Wednesday announced launching their joint venture (JV) which will invest in infrastructure projects in the GCC region.  The new JV will benefit from the …
Sipchem reported a net profit of SAR 583 million for fiscal year 2018
13 February 10:24 AM Sipchem Q4 profit drops 76%; posts solid annual results for FY18
Riyadh – Mubasher: Saudi International Petrochemical (Sipchem) on Wednesday reported a 75.67% year-on-year decline for the fourth quarter of 2018, recording SAR 40 million from SAR 164 million. On the other hand, Sipchem reported a net profit of …
The company attributed the previous year losses to the suspension of several projects
13 February 09:46 AM Al Khodari losses exceed SAR 1bn in 2018
Riyadh – Mubasher: Abdullah Abdul Mohsen Al Khodari Sons Company on Wednesday reported accumulative losses of SAR 1.107 billion for the full-year 2018, representing 198.52% of the capital. The company attributed the previous year losses to the …
The agreement will affect the firm's financial results for Q4
12 February 05:29 PM Saudi Airlines Catering inks SAR 500m deal
Riyadh – Mubasher: Saudi Airlines Catering Co. has signed a SAR 500 million agreement with Saudi Arabian Airlines for the design, construction, and operation of Alfursan International lounge at the New King Abdulaziz International Airport in …
The bank attributed 2018 profit decrease to a 4% decline in total operating profits
12 February 04:27 PM Alawwal Bank’s profit drops 15% in 2018
Riyadh – Mubasher: Saudi Arabia’s Alawwal Bank on Tuesday reported a 15.42% year-on-year decline in net profits for the full fiscal year of 2018, logging SAR 1.13 billion, compared to SAR 1.33 billion in 2017. The bank attributed 2018 profit …
Al Rajhi Bank’s profits rose 13% to SAR 2.77 billion in Q4-18
12 February 02:21 PM 10 Saudi banks log SAR 45.5bn profit in 2018
By: Thabet Shehata Riyadh – Mubasher: Profits of ten banks out of twelve listed on the Saudi Stock Exchange (Tadawul) jumped 16.3% year-on-year in the fourth quarter of 2018, recording SAR 11.23 billion from SAR 9.66 billion. For the full fiscal …
Saudi Arabia is the region’s largest market to invest in.
12 February 02:11 PM GFH exits $100m investments - CEO
Dubai – Mubasher: GFH Group will exit $100 million investments that will be announced later, the firm’s CEO said. The group, listed on Bahrain Bourse (BHB), Boursa Kuwait, and the Dubai Financial Market (DFM), will exit another transaction worth …
Fawaz Abdulaziz Alhokair reported a sharp drop in net profit for the fourth quarter of 2018
11 February 07:18 PM Alhokair posts SAR 286m profits in 2018
Riyadh – Mubasher: Fawaz Abdulaziz Alhokair on Monday reported a sharp drop in net profit for the fourth quarter of 2018, whereas for the full-year, profits were nearly stable from the previous year. Alhokair’s net profits after zakat and taxes …
cement stockpiles increased to 1.12 million tonnes in January
11 February 02:45 PM Sales of Saudi cement firms fall 9% YoY in January - Report
By: Thabet Shehata Riyadh – Mubasher: Sales of Saudi cement companies listed on the Saudi Stock Exchange (Tadawul) retreated 9.3% year-on-year in January to 3.7 million tonnes, from 4.08 million tonnes, according to a monthly report conducted by …
OOMCO’s expansion plans include investing in Tanzania’s fuel retail market
11 February 01:17 PM Oman Oil Marketing eyes expansion in Saudi Arabia, Tanzania
Mubasher: Oman Oil Marketing Company (OOMCO) announced plans to further continue its global expansion in Saudi Arabia and Tanzania. OOMCO aims to achieve strategic growth by introducing its one-stop-shop service stations internationally, Times of …
Zain Group is expected to acquire $160 million worth foreign investments
11 February 11:48 AM HSBC upgrades recommendation on Zain to “Buy”
Mubasher: HSBC has modified its recommendation on the stock of Mobile Telecommunications (Zain) to “Buy” from “Hold”. The London-based banking group has estimated the fair value (FV) of Zain at 550 fils, an increase of 20% when compared to the …
Tabreed is the largest player in the Abu Dhabi market
11 February 11:06 AM UAE’s Tabreed eyes expansion in Saudi Arabia, Egypt
Dubai – Mubasher: National Central Cooling Co (Tabreed), listed on the Dubai Financial Market (DFM), is considering investment opportunities outside the UAE, mainly in Saudi Arabia and Egypt. The Abu Dhabi-based firm will focus on business growth …
Almarai last reported a 27.93% year-on-year profit decline for the fourth quarter of 2018
11 February 10:06 AM Almarai hires Nofal as new CFO
Riyadh – Mubasher: Almarai Company’s board of directors announced that the company’s CFO Paul Louis GAY will resign over the coming period and Majed Mazen Rasheed Nofal will replace him, effective 8 April. The firm’s board approved GAY’s …
The firm attributed the loss to the continuous decline in demand
11 February 09:41 AM Al Yamamah Steel incurs SAR 30.2m losses in Q1-18
Riyadh – Mubasher: Saudi Arabia-based Al Yamamah Steel Industries Co on Monday reported suffering losses during its first quarter ended on 31 December 2018, against posting a profit in Q1-17. Al Yamamah Steel’s net losses after calculating Zakat …
STC is currently working on completing the next phases to expand in providing 5G services.
10 February 07:01 PM STC builds 450 locations for launching 5G network services
Riyadh – Mubasher: The Saudi Telecom Company (STC) on Sunday revealed establishing 450 locations in various regions as the first phase to start launching fifth-generation wireless (5G) services in the kingdom over the coming period. The step …