SABB Takaful pens $4.53mln deal with Al Olayan Group
SABB Takaful Company inked a SAR 17.31 million contract with Al Olayan Group on 30 September 2022 for general insurance programmes. The value of the contract represents more than 1% of the Saudi listed firm’s revenues in 2021, according to a recent bourse filing. SABB Takaful noted that the deal will reflect on its […]
Albilad Capital to distribute dividends for Sukuk Fund’s unitholders
Albilad Capital announced cash dividends worth SAR 409,146 to the unitholders of Albilad Saudi Sovereign Sukuk ETF for September 2022, according to a bourse disclosure. The company will pay out SAR 0.029 per unit, which represents 0.33% of the net assets value as of 2 October 2022, for 14.10 million eligible units. The […]
Saudi: Bahri partners with GASCO to establish logistics firm
National Shipping Company of Saudi Arabia (Bahri) signed a non-binding memorandum of understanding (MoU) with National Gas and Industrialization Company (GASCO) on 3 October 2022 to set up a new business. Under the 12-month agreement, the two parties will team up to develop a company that operates in land transportation and logistics services, […]
Saudi’s Northern Region Cement announces $12mln dividends for H1-22
The board of Northern Region Cement Company greenlighted cash dividends distribution worth SAR 45 million for the first half (H1) of 2022, according to a bourse filing. The Tadawul-listed firm will pay out a dividend of SAR 0.25 per share, representing 2.50% of the share nominal value, for 180 million eligible shares. The eligibility […]
Bahrain’s Investcorp acquires major stake in NourNet
Bahrain – An entity managed by Investcorp has acquired a majority stake in Nour Internet for Communication and Information Technology Company (NourNet), one of Saudi Arabia’s largest pure-play providers of connectivity and information and communication technology (ICT) services. NourNet was established in 1998 in Saudi Arabia as a wholly-owned subsidiary of Nour Communications. Begun as […]