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The nomination is effective from 26 January until 25 January 2023
4 hours ago Tabuk Cement unveils new board; Al Juhni named chairman
Riyadh – Mubasher: Tabuk Cement Company on Sunday announced the appointment of Saoud bin Solaiman Al Juhni as the new chairman. Moreover, the company appointed new board members, including Abdulaziz bin Abdelrahman Al khamis as the deputy …
Riyad Bank’s total revenue increased by 24.47% in FY19
4 hours ago Riyad Bank posts 81.2% increase in FY19 net profits
Riyadh – Mubasher: Riyad Bank’s net profits jumped by 81.2% to SAR 5.60 billion in 2019 from SAR 3.09 billion in 2018, according to the bank’s annual financial results for the period ended on 31 December 2019. The surge in the bank’s net profits …
Loss per share amounted to SAR 3.03 in 2019
4 hours ago Herfy Food sees lower annual profits at SAR 196m in 2019
Riyadh – Mubasher: Herfy Food Services Company on Sunday reported a net profit, after zakat and tax, worth SAR 196.08 million during the fiscal year ended 31 December 2019, down by 3.96% year-on-year (YoY) from SAR 204.16 million, the company’s …
The total value of dividends amounted to SAR 246 million
4 hours ago Bank Aljazira’s board proposes SAR 0.30/shr dividends for H2-19
Riyadh – Mubasher: The board of directors of Bank Aljazira recommended a cash dividend distribution of SAR 0.30 per share for the earnings of the second half of 2019. The total value of dividends amounted to SAR 246 million, excluding applicable …
Al Babtain's loan agreement has a tenor of 3 years
11:29 AM Al Babtain inks SAR 100m loan deal with SAIB
Riyadh – Mubasher: Al Babtain Power and Telecommunication company has signed a SAR 100 million medium-term credit facility agreement with Saudi Investment Bank (SAIB) under the murabaha system. The three-year loan, which will be paid through …
The new shares will be deposited into shareholders’ accounts on 2 February.
11:23 AM Saudi Cable’s remaining rights issue shares 357% oversubscribed
Riyadh – Mubasher: Saudi Cable Company (SCC) announced that its rights issue shares were oversubscribed by 357%. The sale included 10.56 million shares at an average price of SAR 12.88 per share, the company said in a bourse filing on Sunday. …
Dividends will be distributed on 44.85 million shares
10:54 AM NMC’s board proposes SAR 89.7m dividends for 2019
Riyadh – Mubasher: The board of National Medical Care Company (NMC) recommended a cash dividend distribution of SAR 2 per share for the fiscal year ended 31 December 2019. Total dividends will amount to SAR 89.7 million and will be distributed on …
The rise in profits was mainly prompted by higher sales
10:42 AM Sadafco's Q3 profit rises 27%
Riyadh – Mubasher: Saudia Dairy and Foodstuff Company (Sadafco) reported a 26.95% year-on-year profit growth during the third quarter ended 31 December 2019. Net profits, after zakat and tax, rose to SAR 68.06 million in the October-December …
The two brands scored 84.5 and 80.5 points
24 January 05:15 PM Emirates Airlines, Emaar named best brands in UAE for 2019
UAE – Mubasher: Emirates Airlines and Emaar have topped the YouGov Brand Index as the best and most reliable brands in the UAE during 2019. The two brands scored 84.5 and 80.5 points, respectively, in the overall ranking, according to a statement …
SAFCO’s revenues also retreated by 22.43% in Q4-19
23 January 05:24 PM SAFCO logs 40.5% decline in net profit in Q4-19
Riyadh – Mubasher: The net profits of Saudi Arabian Fertilizer Company (SAFCO) plunged by 40.5% to SAR 338.26 million during the fourth quarter of 2019 from SAR 568.53 million in the same period of 2018. The drop in the company’s net profit in the …
Alhokair signed the acquisition agreement in August 2019
23 January 04:54 PM Saudi GAC approves Alhokair’s SAR 340m acquisition of Innovative Union Company
Riyadh – Mubasher: Fawaz Abdulaziz Alhokair Company (Alhokair) received the General Authority for Competition’s (GAC) approval for its acquisition of the Innovative Union Company, owned by Food and Entertainment Company.  The deal will have no …
The company issued seven-year 2,500 bonds
23 January 04:30 PM Samba issues $500m notes
Riyadh – Mubasher: Samba Financial Group has completed offering $500 million notes under its $5 billion Euro Medium Term Note Programme. The company issued seven-year 2,500 bonds at a nominal value of $200,000 apiece, according to a statement to …
The Saudi firm incurred net losses of SAR 636.7 million
23 January 03:58 PM Saudi Kayan swings to losses in 2019
Riyadh – Mubasher: Saudi Kayan Petrochemical Company announced turning to losses for the fiscal year ended 31 December 2019. The Saudi firm incurred net losses of SAR 636.7 million last year, against net profits of SAR 1.702 billion in 2018, …
Hilton will operate the 250-room and 200-apartment hotel
23 January 02:50 PM Taiba pens deal with Hilton to operate new hotel
Riyadh – Mubasher: Taiba Investments Company has signed a contract with Hilton Worldwide Holdings Inc to run and operate a new hotel in Jeddah under the DoubleTree Hilton brand. Under the contract, Hilton will operate the 250-room and …
The capital will rise to SAR 178.16 million
23 January 11:29 AM Al Sorayai’s shareholders approve SAR 112.6m capital increase
Riyadh – Mubasher: The extraordinary general meeting (EGM) of Al Sorayai Trading and Industrial Group (Al Sorayai) has approved an increase in the company’s capital through a priority rights issue of 11.3 million ordinary shares.  The capital will …
The new capital will reach SAR 228.5 million
23 January 10:47 AM GO’s board agrees SAR 122m capital cut to amortise losses
Riyadh – Mubasher: The board of Etihad Atheeb Telecommunication Company (GO) recommended a capital cut by 34.8% to amortise about SAR 122 million or 67.4% of the total accumulated losses. The new capital will reach SAR 228.5 million from SAR 350.5 …
Annual revenues plunged by 20.5% in 2019
23 January 10:22 AM Yansab’s profit shrinks to SAR 1.09bn in 2019
Riyadh – Mubasher: The interim financial statements of Yanbu National Petrochemical Company (Yansab) revealed a 54.9% annual drop in profits during the fiscal year ended 31 December 2019. The net profits registered SAR 1.09 billion at the end of …
One of Petro Rabigh's plants
22 January 06:21 PM Petro Rabigh’s board approves resignation of chairman
Riyadh – Mubasher: Rabigh Refining and Petrochemical Company’s (Petro Rabigh) board has accepted the resignation of the company’s chairman Abdulaziz Mohamed Al Judaimi effective 1 February 2020. The board also decided to name Ibrahim Qassem …
One of Takween's factories
22 January 06:06 PM Takween names Ali Al Jameel as CEO
Riyadh – Mubasher: Takween Advanced Industries Company’s board has announced the appointment of Ali Hassan Al Jameel as CEO effective 2 February 2020. The appointment of Al Jameel takes place after the end of the commission of Jameel Abdullah Al …
Saudi Minister of Finance Mohammed Al Jadaan - Photo Archive
22 January 05:17 PM Another IPO remains an option for Aramco – Minister
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) is still considering to list its shares on a foreign stock exchange, following its recent initial public offering (IPO) on the local market, according to the Saudi Minister of Finance …
The distribution date will be announced later
22 January 05:00 PM stc to distribute SAR 1/shr dividends
Riyadh – Mubasher: Saudi Telecom Company (stc) announced that it will distribute SAR 2 billion interim dividends to shareholders for the fourth quarter (Q4) of 2019. Dividends will be distributed at SAR 1 per share, representing 10% of the share’s …
Net profits decreased by only SAR 25 million compared with 2018
22 January 04:38 PM stc posts marginal decrease in annual profits for 2019
Riyadh – Mubasher: Saudi Telecom Company (stc) has reported a marginal decline in net profit last year, as shown by the company’s interim consolidated condensed financial results for the 12-month period ending on 31 December 2019. Net profit after …
Alinma Bank CEO Abdulmohsen Abdulaziz Al Fares
22 January 01:58 PM Saudi banks enjoy high solvency - Alinma CEO
Riyadh – Mubasher: The Saudi Arabian Monetary Authority (SAMA) is among the world’s top ten central banks, according to Alinma Bank CEO Abdulmohsen Abdulaziz Al Fares. Al Fares added in his remarks during the 9th edition of the Riyadh Economic …
Photo Archive
22 January 01:10 PM Aramco agrees LNG sale to S-Oil
Riyadh – Mubasher: The Saudi Arabian Oil Company (Saudi Aramco) has reportedly sold a liquefied natural gas (LNG) cargo to South Korea’s S-Oil Corporation, through its trading arm Aramco Trading Company. The cargo was sold at around $4.40-$4.60 …
Khalid Abu Hana has been appointed as the new CEO of SPM
22 January 11:25 AM SPM appoints new CEO
Riyadh – Mubasher: Saudi Paper Manufacturing (SPM) Company announced that its board of directors has approved the Chairman’s resolution to terminate the CEO’s contract. Moreover, the board has decided to appoint Khalid Abu Hana as the company’s …