September 2nd, 2019 | 0 commentsSaudi banks increased their government bond holdings by 25.08%, or SAR 71.88 billion, year-on-year in July. Saudi banks’ holdings of government bonds jumped to SAR 358.53 billion in July, compared to SAR 286.65 billion in the corresponding month a year earlier, according to recent data released by the Saudi Arabian Monetary Authority (SAM...
September 1st, 2019 | 0 commentsThe Saudi Stock Exchange’s (Tadawul All-Share Index) went down by 712.85 points, or 8.2%, to 8,019.77 points in August. A group of 18 sectors declined over the month, led by the banking sector, while three sectors grew, topped by the public utility sector. Trading volume decreased by 26.33% to 2.59 billion shares over the month, compared...
August 22nd, 2019 | 0 commentsFraudsters are trying to lure victims into investing in a “virtual currency” with false claims that it is linked to the Saudi riyal and will be used to finance key projects, the Saudi Ministry of Finance warned on Tuesday. The website of a cryptocurrency company in Singapore is promoting what it calls the CryptoRiyal and SmartRiyal, using...
August 22nd, 2019 | 0 commentsTabuk, Saudi Arabia: Saudi customs managed to thwart two attempts to smuggle a large quantity of Captagon pills found hidden in two vehicles that came in to the Kingdom via a port. 2,579,000 Captagon pills were found hidden in two vehicles: one truck and a private vehicle. The Director General of Al-Hadithah Customs, Abdul Razzaq Al-Zahra...
August 22nd, 2019 | 0 commentsNational Gas and Industrialization Company (GASCO) reported its initial financial results for the second quarter of 2019. Net profits after zakat and tax fell by 44.87% to SAR 17.84 million in Q2-19, compared to SAR 32.36 million in Q2-18, according to a filing to the Saudi Stock Exchange (Tadawul) on Wednesday. Total revenues of the Saud...
August 22nd, 2019 | 0 commentsFawaz Abdulaziz Alhokair Company reported its interim financial results for the second quarter of 2019. Net profits after zakat and tax declined by 10.1% to SAR 224 million in Q2-19, compared to SAR 249.2 million in Q2-18, according to the firm’s statement to the Saudi Stock Exchange (Tadawul) on Wednesday. Total revenues plunged by 6.13%...
August 22nd, 2019 | 0 commentsMore than 2,000 keys of branded supply joined the Saudi market during the second quarter of 2019, with 60% classified in the 4-star segment, Colliers International said in its quarterly review. 4-star supply typically caters to a wide range of travellers, a factor of its greater affordability compared to 5-star hotels and a greater level...
August 22nd, 2019 | 0 commentsThe Saudi Stock Exchange (Tadawul) ended Wednesday’s trading session in red territory, pushed by the fall of blue chips. The benchmark Tadawul All Share Index (TASI) went down by 0.94 %, or 80.82 points, ending the session at 8,508.93 points. TASI’s turnover decreased to SAR 2.57 billion on Wednesday, from SAR 2.9 billion on Tuesday, whil...
August 16th, 2019 | 0 commentsDr. Walid bin Mohammed Al-Samaani has been justice minister and president of the Supreme Judicial Council since December 2015. He is also a member of the Council of Economic and Development Affairs. Al-Samaani attained his bachelor’s degree in Shariah from Imam Muhammad ibn Saud Islamic University, his master’s in the same field, and his...
August 16th, 2019 | 0 commentsIndian Ambassador Dr. Ausaf Sayeed thanked King Salman and Crown Prince Mohammad bin Salman for hosting 2.7 million Indian nationals in Saudi Arabia. Speaking at India’s 73rd Independence Day celebrations in Riyadh on Thursday, Sayeed thanked the Saudi leadership for increasing India’s quota of Hajj pilgrims to 200,000 this year. He said...
