Saudi bank lending could take a hit in 2023 without liquidity support
Saudi banks are likely to require further central bank liquidity injections after interbank spreads rose sharply in October and as lending growth continues to outpace deposit growth, Fitch Ratings said in a new report. Sector loans increased by 12.5% in nine-month 2022, compared with 8% for deposits, loans/deposits ratio (LDR) for Saudi banks collectively to […]
Saudi Printing registers $1.6mln losses in 9M-22 : accumulated losses unveiled
Saudi Printing and Packaging Company incurred net losses after Zakat and tax worth SAR 6.24 million in the first nine months (9M) of 2022, an annual plunge of 86.63% from SAR 46.66 million. Revenues jumped by 34.41% year-on-year (YoY) to SAR 767.81 million during the January-September 2022 period, compared to SAR 571.25 million, […]
Saudi Al Hokair launches entertainment centre Playocity
Saudi Arabia’s Al Hokair Group for Tourism and Development, has entered a licensed agreement with Hasbro, a leader in branded entertainment, bring Playocity, a first-of-its-kind entertainment centre, to the Kingdom. The first two Playocity sites will open soon, encompassing 6,000 sq ft across both sites to offer spectacular fun for everyone, and Al Hokair Group […]
Middle East KFC, Pizza Hut operator Americana to float 30% stake
Restaurant operator Americana Restaurants International on Wednesday announced its intention to float 30% of share capital and to list its shares on the Abu Dhabi Securities Exchange (ADX) and the Saudi Stock Exchange (Tadawul) through a concurrent dual listing process. Adeptio Investments AD Ltd. will sell 2,527,089,930 existing ordinary shares of Americana Restaurants, the operator […]