Saudi Kayan signs murabaha facility worth $800mln
Saudi Kayan Petrochemical Co. has signed murabaha revolving credit facility agreement for 3 billion riyals ($800 million) with Saudi National Bank. The five-year facility will utilised to meet the working capital requirements, the maker of specialty chemicals and polymers said on Tuesday in a regulatory filing on Tadawul where its shares trade. […]
Zamil swings to $21mln losses in 9M-22 initial results
Zamil Industrial Investment Company shifted to net losses after Zakat and tax worth SAR 78.47 million in the first nine months (9M) of 2022, against net profits of SAR 13.11 million in 9M-21. The firm reported an annual growth of 9.21% in revenue to SAR 2.86 billion during the January-September 2022 period, compared […]
Saudi: Almunajem Foods’ profits jump to nearly $73mln in 9M-22
Almunajem Foods Company registered net profits after Zakat and tax worth SAR 273.30 million in the first nine months (9M) of 2022, an annual hike of 127.56% from SAR 120.10 million. Revenues enlarged by 17.56% to SAR 2.23 billion during January-September 2022, compared to SAR 1.89 billion in the year-ago period, according to […]
Aljazira Takaful sees 24% higher profits in 9M-22 initial results
Aljazira Takaful Taawuni Company posted a 23.83% jump in net profit before Zakat to SAR 26.15 million during the first nine months (9M) of 2022, versus SAR 21.12 million in 9M-21. The earnings per share (EPS) edged down to SAR 0.44 during the January-September 2022 period, compared to SAR 0.45 in 9M-21, according […]
Arabian Centres to sell non-core assets worth $533mln
The board of Arabian Centres Company (ACC) has approved a programme to sell an identified portfolio of non-core landbank assets with a market valuation exceeding SAR 2 billion. The book value of the assets is estimated at SAR 1.20 billion, according to a press release. Furthermore, the first sale from this portfolio is […]
Saudi developer Dar Al Arkan mulls listing Dubai property business
Saudi-based Dar Al Arkan Real Estate Development Company may list its Dubai business on an international stock exchange. In a statement to the Saudi Stock Exchange (Tadawul), the company said it was considering several strategic and capital markets options with regards to its international property business in Dubai, which may include listing. Dar Al Arkan’s […]
Saudi: ACC to set up solar PV plant at Suez facility
Arabian Cement Company (ACC) has signed an amendment to its 2019 contract with Amarenco SolarizEgypt (ASE) to establish a Solar Photovoltaic (PV) plant at its Suez facility. The amendment to the agreement aligns with updated regulations recently issued by ‘EgyptERA’ the Egyptian Electric Utility and Consumer Protection Regulatory Agency to encourage and support […]
Saudi: SWCC signs deal on return water conservation, RO projects
Saline Water Conversion Corporation (SWCC) has signed agreements with top local and international companies to help boost co-operation in conserving return water (the portion of water diverted from a water supply which finds its way back into a watercourse) as well as reverse osmosis projects. Return waters are those flowing from the […]
Elm’s profits hike 57% in 9M-22 initial results
Elm Company logged a net profit after Zakat and tax worth SAR 718 million in the first nine months (9M) of 2022, up 57.11% year-on-year (YoY) from SAR 457 million. Revenues enlarged by 19.58% to SAR 3.29 billion during the January-September 2022 period, compared to SAR 2.75 billion in 9M-21, according to the […]
Program, speakers revealed for Saudi Green Initiative Forum at COP27
Saudi Arabia has revealed the program and speakers for the second edition of the Saudi Green Initiative (SGI) Forum taking place 11 – 12 November 2022 on the sidelines of COP27 in Sharm El Sheikh. The two-day event will convene an elite lineup of climate experts and thought leaders to discuss the progress […]