June 17th, 2019 | 0 commentsThe recent report by the Saudi General Authority for Statistics (GaStat) showed that total merchandise exports of the kingdom stood at SAR 86.96 billion during April 2019 compared to SAR 89.65 billion in the same month a year ago. Total exports in April decreases by 3% or SAR 2.68 billion when compared to the same month in 2018. Meanwhile...
June 17th, 2019 | 0 commentsThe benchmark Tadawul All Share Index (TASI) of the Saudi Stock Exchange (Tadawul) closed Sunday’s session 0.61% or 54.7 points lower at 8,886.84 points. The banking sector led the decliners with 1.44%, while the telecommunication sector topped the gainers with 1.31%. As for the liquidity level, Tadawul registered a decline in turnover to...
June 17th, 2019 | 0 commentsThe Saudi Arabian General Investment Authority (SAGIA) revealed that tenders for seven solar photovoltaic (PV) projects will be offered by the middle of 2019. These PV projects are expected to attract investments up to a total of $1.51 billion, in addition to having a power-generation capacity of 1.51 gigawatts (GW), the Saudi authority a...
June 14th, 2019 | 0 commentsSaudi Arabia reaffirmed its support for the initiative of the high representative for the UN Alliance of Civilizations (UNAOC), Miguel Moratinos, to safeguard religious sites. The Kingdom said that attacks on places of worship and the encroachment on these places is a terrorist act that requires to be addressed. This support was reaffirme...
June 14th, 2019 | 0 commentsSaudi Arabia on Thursday vowed to take “appropriate” action to confront and deter attacks by Houthi militias in Yemen. It came a day after 26 people, including women and children, were injured in a missile strike on the civilian Abha Airport in the south of the Kingdom, for which the Houthis claimed responsibility. “We will confront the H...
June 14th, 2019 | 0 commentsThe Saudi Stock Exchange (Tadawul) opened Thursday’s trading session with negative performance. By 10:38 am KSA time, the main Tadawul All-Share Index (TASI) fell 1.07%, or 97.09 points, to 8,987.66 points. TASI’s traded volume reached 31.52 million shares exchanged at a turnover of SAR 724.07 million through 23,600 transactions. The medi...
June 14th, 2019 | 0 commentsNayifat Finance Company posted 1.12% year-on-year growth in its revenues during the first quarter of 2019. Total revenues of Saudi Arabia’s leading non-bank financial institution hit SAR 84.9 million in Q1-19, according to the company’s statement on Thursday.The company’s net income recorded SAR 46.64 million during the first three months...
June 14th, 2019 | 0 commentsSaudi Arabia is set to begin implementing a selective tax on soft drinks in December 2019, according to a recent statement by the General Authority for Zakat and Tax (GAZT). In May, the authority approved amendments to existing regulations, including a 100% tax on tobacco and its by-products. It also imposed a 100% tax on energy drinks, a...
June 14th, 2019 | 0 commentsThe Saudi Stock Exchange’s (Tadawul) benchmark Tadawul All-Share Index (TASI) closed Thursday’s trading session with negative performance, pressured by the recent attacks in the Gulf of Oman. Earlier Thursday, two “Japan-related” oil carriers near the strategic Strait of Hormuz were reportedly attacked. The US Navy's 5th Fleet stated that...
June 13th, 2019 | 0 commentsLeaders from around the Arab world have condemned a Houthi missile attack on Saudi Arabia’s Abha International Airport. In the early hours of Wednesday, the Iranian-backed Houthi militia targeted the airport in southern Saudi Arabia, which injured 26 civilians, an Arab coalition spokesman said. The UAE, in its condemnation of the attack, ...
