Misr Clearing signs agreement with Saudi Clearing

  Misr Central Clearing, Depository, and Registry signed a memorandum of understanding (MoU) with the Saudi Securities Clearing Centre (Muqassa) to bolster relations and enhance economic cooperation between the two countries. The agreement aims to foster the exchange of experiences and information in the field of securities clearing to come up with a more reliable […]

Tawuniya’s profits exceed $67.2mln H1-22 interim results

  The Company for Cooperative Insurance (Tawuniya) registered net profits before Zakat of SAR 252.19 million during the first half (H1) of 2022, higher by 2.21% year-on-year (YoY) than SAR 246.74 million. The earnings per share (EPS) edged up to SAR 1.65 in the first six months (6M) of 2022, versus SAR 1.62 in the […]

King Abdulaziz Port in Saudi posts record container throughput in June

The King Abdulaziz Port in Dammam, managed by Saudi Global Ports (SGP), has set a new container throughput record by handling 188,578 TEUs during June 2022, surpassing the previous record set in 2015 by 867 TEUs. The record-breaking performance comes on the back of soaring import and export volumes, which boosted the port’s productivity while […]

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 […]