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أدوات الموضوع | التقييم: | انواع عرض الموضوع |
#1571
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رد: Saudi Arabia Economical and other News
Foreign direct investment in Saudi Arabia to jump 20 times by 2030: Al-Falih RIYADH — Foreign direct investment in Saudi Arabia will increase 20 times by 2030 compared to current levels, according to Minister of Investment Khalid Al-Falih. Speaking on the sidelines of the Saudi-Thai Investment Forum in Riyadh organized by the Ministry of Investment, Al-Falih said investment opportunities for the private sector in the Kingdom will exceed about SR3.2 trillion by the end of the decade. Saudi Arabia has worked to develop the business environment under the shadow of the Kingdom's Vision 2030 through huge reforms, Al-Falih said, noting that the reform measures have exceeded 500 in number. Al-Falih said the reforms that were implemented included the enactment of regulations and legislation in line with international best practices. The National Investment Strategy (NIS) will increase the investment volumes by three times more till 2030, he said. Al-Falih stressed that by 2030, the Kingdom seeks to become one of the 15 largest economies in the world. During the Saudi-Thai Investment Forum, seven memoranda of understanding (MoU) were signed between the two countries, through which the two kingdoms seek to enhance bilateral trade and investment. The forum comes within the efforts to develop relations and opportunities between Saudi Arabia and Thailand in all fields, including petrochemicals, oil, gas, tourism, hospitality and many others. The forum has witnessed the participation of a large presence of Saudi and Thai investors and companies. Source: Saudi Gazette May 17, 2022
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#1572
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رد: Saudi Arabia Economical and other News
Al-Khateeb, Pramudwinai seek to strengthen cooperation in field of tourism RIYADH — Minister of Tourism Ahmed Bin Aqeel Al-Khateeb met with Deputy Prime Minister and Minister of Foreign Affairs of the Kingdom of Thailand Don Pramudwinai. At the outset of the meeting, Al-Khateeb welcomed the deputy prime minister of Thailand, pointing to the importance of strengthening cooperation in the field of tourism after the resumption of the diplomatic relations between the two countries. He stressed Saudi Arabia's interest in the tourism sector in accordance with the Saudi Vision 2030 and the importance of achieving recovery and sustainability in the sector because it represents the most important sources of income and employment in the world. — SPA Source: Saudi Gazette May 16, 2022
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#1573
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رد: Saudi Arabia Economical and other News
Abdulghani clinches first gold for Saudi Arabia in Gulf Games KUWAIT — Ali Abdulghani grabbed Saudi Arabia’s first gold medal in the 3rd Gulf Games, which kicked off in Kuwait on Monday. He emerged tops in the javelin throw by hurling a distance of 71.15 meters. The Saudi stars who sparkled on the first day of the event also included sprinters Abdullah Abkar, Mohammed Daoud Tolo, and Mazen Al-Yassin, who won silver medals, from among a contingent of over 250 Saudi athletes who are participating in the Games. Female sprinter Mizna Al-Nasser won the bronze medal in the 10,000-meter race with a time of 45:32 minutes. Mizna’s bronze was the first medal for the Kingdom in the Games, in which female athletes are competing for the first time. In the men’s 100-meter race, the silver went to Saudi sprinter Abdullah Abkar with a time of 10.21 seconds, while sprinter Mohammed Daoud came in fourth in a time of 10.32 seconds. Mazen Al-Yassin bagged the silver medal by finishing second in the men’s 400-meter race with a time of 45.83 seconds. Mohammed Daoud Tolo claimed silver in the shot put with a throw of 20.49 meters, while Hammoud Al-Alwani took bronze in the long jump by clearing a distance of 7.15 meters. Female athlete Roaa Al-Sulaimani finished fifth in the 100-meter hurdles for women with a time of 18.83 seconds and in the women’s 100-meter race, Saudi Arabia’s Olympic runner Yasmeen Al-Dabbagh finished fifth with a time of 12.90 seconds while Lujain Al-Hamid came in the seventh position with a time of 13.72 seconds. Saja Jalal finished sixth in the women’s shot put with a distance of 6.84 meters. She also came fifth in the long jump with a leap of 3.98 meters. In the futsal competitions, the Saudi men’s team clinched a 3-1 win over Bahrain while the women’s team lost to Bahrain 4-1 in their opening matches. The third Gulf Games were scheduled to begin on Friday, May 13, but was postponed for three days due to the death of UAE President Sheikh Khalifa Bin Zayed Al-Nahyan. The Games will run through until the end of May at a dozen venues in Kuwait. Monday’s events included athletics for men and women at Ahamad Al-Rashdan Track and Field in Keifan area; Futsal and basketball at Sheikh Saad Al-Abdallah complex in Sabah Al-Salem area in addition to shooting training at Sheikh Sabah Al-Ahmad Olympic Shooting Complex. In the second edition of the Gulf Game, which was held in Dammam in 2015, Saudi Arabia emerged the champions with 115 medals, including 57 gold, 35 silver and 23 bronze. Around 1,700 athletes from six GCC nations are competing in the Gulf Games in 16 disciplines including handball, volleyball, basketball, futsal, swimming, athletes, shooting, karate, judo, tennis, cycling, ice-hockey, table tennis, padel and e-sports. Women are competing for the first time in seven sports, including futsal, e-sports, athletics, cycling, 3x3 basketball, padel and table tennis. Source: Saudi Gazette May 17, 2022
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#1574
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رد: Saudi Arabia Economical and other News
Ministry of Commerce blocks 7 e-stores owned by Saudi company RIYADH — The Ministry of Commerce (MoC) announced that it has blocked 7 e-stores owned by a Saudi company due to its violation over the e-commerce system and its executive regulations. The ministry said that the stores had violated the e-commerce system by misleading the consumers and not complying with their contractual rights. It confirmed that the Department of Monitoring of Electronic Stores discovered the violation. It monitored, through its electronic follow-up, the violation of these stores of the e-commerce system and its executive regulations. The ministry revealed that the monitored stores are e-stores that market clothing products for women's and children's supplies, as well as furniture and electronic devices. The monitored stores had several other violations, which are: 1 - The failure of notifying the consumers of the difficulties in delivering and executing their orders. 2 - The store did not implement the request to cancel purchases after exceeding the agreed period. 3 - Stores refused to refund some shoppers. The Ministry confirmed that the violating stores have been referred to the Committee to Consider Violations of the E-Commerce System. Violations of the e-commerce system provides for fines of up to about SR1 million, as well as blocking and closing sites that commit the violation. This is in addition to preventing the practice of the activity and publishing the ruling. Source: Saudi Gazette May 18, 2022
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#1575
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رد: Saudi Arabia Economical and other News
Saudi stocks open June on a sour note as fears increase: Opening bell RIYADH: Saudi stocks opened in the red for the first trading day of June as market sentiment is plagued by uncertainty resulting from inflation and oil price swings.. The main index, TASI, shed 0.54 percent to 12,851, while the parallel market, Nomu, lost 0.20 percent to 22,725, as of 10:08 a.m. Saudi time. Saudi Arabian Mining Co., known as Ma’aden, fell 2.92 percent leading the market fallers, despite shareholder approval of a 100 percent capital increase. Among other fallers are Saudi Tadawul Group Holding Co., down 0.86 percent, and Najran Cement Co., down 1.22 percent. Group Five Pipe Saudi Co. gained 6.83 percent, after securing a deal worth SR145 million ($39 million) from Saudi Aramco to supply steel pipes. Saudi Aramco, the largest player on the Saudi oil market, opened today’s trading down 0.95 percent. Al Hassan Ghazi Ibrahim Shaker Co. appreciated 3.96 percent, after it signed an agreement with Italy's Bompani to establish a joint venture. Etihad Atheeb Telecommunication Co. rose 0.76 percent, as losses narrowed to SR37.4 million in the fiscal year ended March 31, 2022. Amana Cooperative Insurance Co. surged 8.08 percent, leading the market gainers since yesterday's early trading. Telecom giants stc and Zain KSA were both down by 0.19 percent and 1.35 percent respectively. In the pharma sector, Aldawaa Medical Services Co. edged down 0.51 percent, while Nahdi Medical Co. fell 1.11 percent. The energy market saw Brent crude traded at $117.24 a barrel and US West Texas Intermediate crude reached $116.33 a barrel, as of 10:16 a.m. Saudi time. June 1, 2022 Wednesday Source: Arab news
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#1576
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رد: Saudi Arabia Economical and other News
Here’s what you need to know before Wednesday trading on Tadawul RIYADH: Saudi Arabia’s main stock market recorded its first monthly decline of 2022 in May, as investors fretted over the slowdown of the global economy. TASI ended the month 5.9 percent lower at 12,921, after adding 0.11 percent in Tuesday’s trading session. Most Gulf indexes surged on Tuesday in line with Saudi Arabia, with Abu Dhabi gaining 1.5 percent ahead of its largest-ever listing of petrochemicals firm Borouge. Stock exchanges of Dubai, Qatar, Bahrain, and Kuwait advanced between 0.1 and 0.7 percent, while the Omani index lost 0.5 percent. Elsewhere in the Middle East, Egypt’s EGX30 index was up 0.4 percent. Oil prices extended gains on Wednesday. Brent crude added nearly 1 percent to $122.84 a barrel and US West Texas Intermediate traded at $115.39 a barrel as of 9:24 a.m. Saudi time. Stock news Saudi Aramco awarded a deal worth SR145 million ($39 million) to Group Five Pipe Saudi Co. for the supply of spiral steel pipes Shareholders of Banan Real Estate Co. approved a dividend payout of SR6 million for the second half of 2021 Amwaj International Co.’s initial public offering was 976 percent oversubscribed, with an offer price of SR72 per share for a potential Nomu listing Etihad Atheeb Telecommunication Co.’s losses slightly narrowed to SR37.4 million in the fiscal year ended March 31, 2022, supported by higher sales Saudi Reinsurance Co. hired Al Rajhi Capital as a financial advisor to manage the subscription to rights issue amid a capital hike plan to SR1.34 billion National Building and Marketing Co. refiled an application for the transition from Saudi exchange’s Nomu parallel market to the main market Alinma Bank appointed Abdulmalik Al-Hogail as board chairman and Saad Al-Kroud as vice chairman for a three-year term Al Hassan Ghazi Ibrahim Shaker Co. received the Capital Market Authority’s approval to increase its capital to SR249 million Al Hassan Ghazi Ibrahim Shaker Co. signed an initial agreement with Italy’s Bompani to establish a joint venture ****er factory National Gypsum Co. named Ahmed Al-Thenayan as chairman, Fahad Al-Thenayan as managing director, and Saud Al-Thenayan as vice president Najran Cement Co. obtained a Shariah-compliant loan worth SR279 million to finance working capital Calendar June 2, 2022 Close of Anaam International Holding Group’s new shares subscription June 6, 2022 End of Saudi Real Estate Co.’s rights trading June 9, 2022 Close of Saudi Real Estate Co.’s new shares subscription June 1, 2022 Source: Arab news
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#1577
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رد: Saudi Arabia Economical and other News
Group Five Pipe Saudi wins $39m spiral steel pipes order from Aramco RIYADH: Nomu-listed Group Five Pipe Saudi Co. has secured a contract worth SR145 million ($39 million) from Saudi Aramco to supply welded spiral steel pipes. The homegrown manufacturer will supply these pipes for water usage in Aramco’s facilities of Jaladi and Abqaiq, according to a bourse filing. Group Five Pipe Saudi joined the Kingdom’s stock exchange in November last year, after raising SR98 million in an initial public offering. June 1, 2022 Source: Arab news
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#1578
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رد: Saudi Arabia Economical and other News
Saudi Group Five Pipe shares to begin trading on Nomu market on Nov. 29 RIYADH: Group Five Pipe Saudi Co., a leading spiral pipe provider in the Middle East, will begin trading on the parallel stock market, Nomu, as of Monday, Nov. 29, according to a filing to the Saudi Stock Market. The Dammam-based company closed its initial public offering of 2.8 million shares, representing 10 percent of the total number, with the final offer price set at SR35 ($9.33) per share. The IPO was 1,208 percent oversubscribed, according to Aldukheil Financial Group, the IPO financial advisor. June 1, 2022 Source: Arab news
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#1579
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رد: Saudi Arabia Economical and other News
Saudi telecom firm Etihad Atheeb narrows losses to $10m on higher sales RIYADH: Etihad Atheeb Telecommunication Co. has managed to slightly narrow down its losses by 2 percent in the fiscal year ended March 31, by ramping up its sales. Better known as Go, the company brought down its losses to SR37.4 million ($10 million) from SR38.26 million reported a year earlier, according to a bourse filing. Its improved results were accompanied by a 34 percent boost in revenue to SR378.55 million, up from SR282 million in the previous year. The results were driven by the decrease in allowance for impairment in trade receivables, allowance for impairment in fixed assets, and Zakat expense. The firm reported that its accumulated losses reached SR16 million at the end of its fiscal year, representing 17.78 percent of its share capital. June 1, 2022 Source: Arab news
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#1580
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رد: Saudi Arabia Economical and other News
Academy of Learning posts 12% surge in profit ahead of Saudi listing RIYADH: Academy of Learning Co. has reported a 12 percent rise in profit for 2021 ahead of listing on the Saudi stock exchange’s parallel market Nomu. The Dammam-based company made profits of SR16.2 million ($4.32 million) last year, compared to SR14.5 million a year earlier, Argaam reported. The results came on the back of a 25 percent revenue jump to SR42.3 million, despite incurring higher day-to-day and marketing costs. Academy of Learning is currently in the process of joining the Kingdom’s parallel Nomu market as a direct listing, with price guidance of SR40 per share. The company operates in the Saudi education and training sector through 12 educational institutes across Dammam, Al Khobar, Al Ahsa, Al Jubail, and Qatif.
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