September 13th, 2019 | 0 commentsThe Saudi Stock Exchange (Tadawul) announced that it has suspended National Building and Marketing Company’s stock from trading, as the company had failed to disclose the financial statements for the second quarter of 2019 during the specified period. The company’s stock will be back to trading after 20 trading sessions starting Sunday, 1...
September 13th, 2019 | 0 commentsThe CEO of Kuwait Oil Company (KOC) Emad Sultan announced that the firm’s operating budget for fiscal year 2019/2020 amounts to KWD 2.5 billion, as reported by Alrai Newspaper. He concluded that KOC’s average capital spending for the current year is valued at KWD 2 billion. Moreover, he noted that the expected number of wells to be drille...
September 13th, 2019 | 0 commentsThe Saudi Stock Exchange’s Tadawul All-Share Index (TASI) ended Thursday in the red territory, pushed down by leading sectors, including banking. TASI shed 23.5 points, or 0.3%, to close at 7,831.8 points, after the banking, material, and consumer durables sectors declined by 0.5%, 0.46%, and 1.71%, respectively. On the other hand, the me...
September 13th, 2019 | 0 commentsACWA Power is planning to expand in 46 countries by 2030, chairman, Mohammad Abunayyan, stated on Thursday, according to the company’s Twitter account. The company also has plans to increase production capacity to 150 gigawatts of electricity and 15 million cubic metres of desalinated water per day, the top official added on the side line...
September 13th, 2019 | 0 commentsGovernor of the Saudi Arabia’s Taif, Saad Al-Maimouni, has launched Madinat Al Wouroud project, Saudi Press Agency (SPA) reported on Thursday. Situated on 6.3 million shares, the project includes 4,775 villas, Al-Maimouni said. Advisor to the minister of housing, Mamdouh Al Sharhan, revealed that there are 67 projects currently underway a...
September 12th, 2019 | 0 commentsSaudi Arabia’s foreign minister says his country is keen to explore ways of strengthening relations with Cyprus given the European Union member country’s geographic location and long-standing ties with the Arab world. Ibrahim Al-Assaf’s visit to the east Mediterranean island nation on Wednesday where he also met with Cypriot President Nic...
September 12th, 2019 | 0 commentsMinister of Health Dr. Tawfiq bin Fawzan Al-Rabiah has highlighted the importance of health care in the private sector. Dr. Al-Rabiah said that the government was committed to creating the optimal investment environment for the health sector to make it more attractive. “The plan is to raise the Kingdom’s position and compete with most dev...
September 12th, 2019 | 0 commentsOil output from member states of the Organization of the Petroleum Exporting Countries (OPEC) grew last August, as increases from Saudi Arabia, the UAE, Nigeria and Iraq, offset shortfalls from Venezuela, Iran and Libya. The 14-member group’s crude production averaged 29.74 million barrels per day (bpd), rising by 136,000 bpd, the produce...
September 12th, 2019 | 0 commentsSaudi Arabia’s Acwa Power Company is in talks with Public Investment Fund of Saudi Arabia (PIF) to increase the fund’s stake in the company to 35% from 25%, Acwa’s chairman, Mohammad Abdullah Abunayyan, stated on Wednesday during an interview with Al Arabiya. PIF’s investments in Acwa include 15% direct investments and 10% stake of a subs...
September 12th, 2019 | 0 commentsSaudi Arabia's Minister of Municipal and Rural Affairs Majid bin Abdullah Al Qasabi has signed five contracts with leading specialised national companies to cover public cleaning projects in Makkah and the Holy Shrines and related villages. The total value of the contracts amounts to SAR 2.396 billion, while the term of the contracts is f...
