Saudi Arabia’s Kingdom Holding invests in Russian energy companies
Saudi Arabia’s Kingdom Holding invested in Russian energy groups Gazprom, Rosneft and Lukoil between Feb. 22 and March 22, it said on Twitter on Sunday. Many Western nations have imposed sanctions on Russian energy firms and their executives following Russia’s invasion of Ukraine on Feb. 24. The Kingdom Holding investments fall within the company’s 12.8 […]
J&J talc powder sold in Saudi Arabia does not contain asbestos: SFDA
The Saudi Food and Drug Authority (SFDA) confirmed that the talcum powder that is manufactured by Johnson & Johnson (J&J), which is sold in Saudi Arabia, does not contain asbestos. The SFDA’s confirmation came after a person inquired about the measures that the authority will take, especially after the published news of J&J’s decision […]
Saudi billionaire’s Kingdom Holding invested $3.4bln globally since 2020
Saudi investment firm Kingdom Holding Co. (KHC) disclosed that it has made investments worth more than SAR 12.8 billion ($3.4 billion) since 2020, including in major Russian energy companies. Kingdom’s total investments amounted to SAR 4.33 billion in 2020, SAR 3.75 billion in 2021 and SAR 4.73 billion in 2022, a filing on Tadawul bourse […]
Dubai’s Depa wins $30mln project in Saudi’s Red Sea region
Interior design and specialty contractor Depa Plc said on Monday that its interior fit-out unit won a project worth approximately AED 110 million ($30 million) within a development in the Red Sea region of Saudi Arabia. This is the second significant hospitality project awarded to Depa within this development, the Nasdaq Dubai -listed Depa said […]
Saudi Aramco’s Amin Nasser: a homegrown engineer who reached the top
At an industry event this year in Riyadh, the Saudi energy minister paused at about 9 p.m. in front of some 1,000 people and told them it was bedtime for Amin Nasser, the chief executive of state-owned oil producer Saudi Aramco. He was not joking. Over a career of four decades, Nasser has earned […]
Saudi Tadawul Group reports 24% decline in profit on higher expenses
Saudi Tadawul Group, the bourse’s owner and operator, on Sunday reported an almost 24% decline in second-quarter profit as expenses, including salaries, rose. Net profit in the quarter ended June 30 fell to 137.7 million riyals ($36.68 million) from a 181.1 million riyals in the year-earlier period. The group said operating expenditures increased 16.6% […]
Saudi Aramco profit soars on higher prices and refining margins
State oil giant Saudi Aramco reported a soaring 90% rise in second-quarter profit on Sunday, beating analyst expectations and propelled by higher oil prices, volumes sold and refining margins. The company expects “oil demand to continue to grow for the rest of the decade, despite downward economic pressures on short-term global forecasts,” Aramco chief executive […]
Astra Industrial’s net profits for H1-22 soar 202%
Astra Industrial Group logged net profit after Zakat and tax worth SAR 317.78 million during the first half (H1) of 2022, a yearly surge of 202.06% when compared to SAR 105.20 million. Earnings per share (EPS) stood at SAR 3.97 during the six-month period ended 30 June 2022, compared to SAR 1.32 in the […]
GASCO posts lower profits at $28mln in H1-22
National Gas and Industrialization Company (GASCO) has registered net profits after Zakat and tax of SAR 104.70 million during the first half (H1) of 2022, down 13.97% from SAR 121.70 million in H1-21. The revenues increased by 1.04% year-on-year (YoY) to SAR 989.10 million in the January-June 2022 period, compared to SAR 978.90 million, […]
Korean firm, Aramco to set up special steel project at Spark
South Korea’s steel conglomerate SeAH Group has set up a joint venture with Saudi energy giant Aramco to produce special steel pipes, a report said. SeAH Changwon Integrated Special Steel Corp, the group’s special steel maker, said the joint venture, SeAH Gulf Special Steel Industries (SGSI), will accelerate the expansion of the group in the […]