Company Insights Alrajhi Bank Banking & Finance Alrajhi Bank News Markets Emirates NBD tops Gulf dividend yield rankings Emirates NBD, Dubai’s largest bank, has so far topped the Gulf list of dividend yield pay-outs awarded to shareholders in 2023, Refinitiv data shows. The government-controlled lender, whose shares are up 27 percent in the past 12 months, provides a dividend yield of 6.9 percent based on its closing stock price of February 8. The […] February 9, 2024 Construction Saudi cement maker Al Jouf plans to sue over $36m loss A Saudi cement producer is planning to sue three of its former board members for their role in an investment that resulted in a SAR136 million ($36.3 million) loss. Al Jouf Cement Company said in a filing to the Saudi Stock Exchange it was seeking authorisation from its general assembly for the liability lawsuit, which […] December 5, 2023 Banking & Finance Saudi’s top 10 banks post 3.8% rise in profits Saudi Arabia’s 10 largest listed banks saw net income rise 3.8 percent to SAR18 billion ($4.8 billion) in the third quarter of 2023, driven by higher loan growth and interest income. In light of the Saudi Arabian Interbank Offered Rate (Saibor) increasing by 13 basis points in the third quarter, aggregate total interest income increased by […] November 27, 2023 Analysis Banking & Finance Investors snub Saudi’s lacklustre bank stocks Saudi Arabia’s banking stocks have suffered a sustained slump despite lenders reporting steady earnings. Experts believe they are unlikely to rebound in the near term as investors target higher-growth industries instead. Banking is one of three heavyweight sectors on the kingdom’s bourse, along with energy and materials, the latter including petrochemical manufacturers. To Tuesday’s close, […] September 13, 2023 Transport Kuwait airport passenger numbers flying higher Passenger traffic through Kuwait International Airport is forecast to grow by 7 percent this year, fuelled by increased activity across the summer months. Total passenger numbers to and from the airport is expected to reach 15.5 million, according to the Gulf state’s Directorate General of Aviation, up from 14.46 million passengers reported in 2022. Abdullah […] August 28, 2023 Finance Saudi Arabia issues $9.6bn sukuk Saudi Arabia has issued new local currency sukuk worth SAR35.9 billion ($9.57 billion) after completing the early purchase of some of its SAR35.7 billion existing sukuk, the National Debt Management Center (NDMC) said. The sukuk redeemed early were set to mature in 2024, 2025 and 2026, state-run SPA reported, citing NDMC. The new issues were […] August 14, 2023 Banking & Finance Saudi’s Rawabi Energy to use $1.9bn funding for expansion Saudi Arabia’s Rawabi Energy has secured SAR7.175 billion ($1.9 billion) worth of syndicated financing in Saudi riyals and US dollars to support its expansion. The deal, which was 1.33 times oversubscribed, will accelerate its growth plans, underpinned by a full capital structure take-out and refinancing of existing debt, the company said in a statement. HSBC […] July 25, 2023 Analysis Banking & Finance Mid-cap stocks offer best dividend yields in Gulf Dividend-seeking Gulf investors are likely to find little value among the region’s blue-chip stocks and should instead target mid-cap companies with steady cash flows and low debt, experts suggest. When interest rates hovered near zero and average dividend yields on GCC stocks were around 4 percent, the difference with the risk-free rate – the return […] June 2, 2023 Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023 Energy Air Products says Saudi project driving earnings Air Products and Chemicals Inc. said that the second phase of its Saudi gas project has started contributing to income in the second quarter of 2023. Middle East and India equity affiliates’ earnings increased 39 percent year-on-year, primarily due to the completion of the second phase of the Jazan project, the world’s largest industrial gas complex […] May 10, 2023 Posts navigation Previous 1 2 3 4 Next
Markets Emirates NBD tops Gulf dividend yield rankings Emirates NBD, Dubai’s largest bank, has so far topped the Gulf list of dividend yield pay-outs awarded to shareholders in 2023, Refinitiv data shows. The government-controlled lender, whose shares are up 27 percent in the past 12 months, provides a dividend yield of 6.9 percent based on its closing stock price of February 8. The […] February 9, 2024
Construction Saudi cement maker Al Jouf plans to sue over $36m loss A Saudi cement producer is planning to sue three of its former board members for their role in an investment that resulted in a SAR136 million ($36.3 million) loss. Al Jouf Cement Company said in a filing to the Saudi Stock Exchange it was seeking authorisation from its general assembly for the liability lawsuit, which […] December 5, 2023
Banking & Finance Saudi’s top 10 banks post 3.8% rise in profits Saudi Arabia’s 10 largest listed banks saw net income rise 3.8 percent to SAR18 billion ($4.8 billion) in the third quarter of 2023, driven by higher loan growth and interest income. In light of the Saudi Arabian Interbank Offered Rate (Saibor) increasing by 13 basis points in the third quarter, aggregate total interest income increased by […] November 27, 2023
Analysis Banking & Finance Investors snub Saudi’s lacklustre bank stocks Saudi Arabia’s banking stocks have suffered a sustained slump despite lenders reporting steady earnings. Experts believe they are unlikely to rebound in the near term as investors target higher-growth industries instead. Banking is one of three heavyweight sectors on the kingdom’s bourse, along with energy and materials, the latter including petrochemical manufacturers. To Tuesday’s close, […] September 13, 2023
Transport Kuwait airport passenger numbers flying higher Passenger traffic through Kuwait International Airport is forecast to grow by 7 percent this year, fuelled by increased activity across the summer months. Total passenger numbers to and from the airport is expected to reach 15.5 million, according to the Gulf state’s Directorate General of Aviation, up from 14.46 million passengers reported in 2022. Abdullah […] August 28, 2023
Finance Saudi Arabia issues $9.6bn sukuk Saudi Arabia has issued new local currency sukuk worth SAR35.9 billion ($9.57 billion) after completing the early purchase of some of its SAR35.7 billion existing sukuk, the National Debt Management Center (NDMC) said. The sukuk redeemed early were set to mature in 2024, 2025 and 2026, state-run SPA reported, citing NDMC. The new issues were […] August 14, 2023
Banking & Finance Saudi’s Rawabi Energy to use $1.9bn funding for expansion Saudi Arabia’s Rawabi Energy has secured SAR7.175 billion ($1.9 billion) worth of syndicated financing in Saudi riyals and US dollars to support its expansion. The deal, which was 1.33 times oversubscribed, will accelerate its growth plans, underpinned by a full capital structure take-out and refinancing of existing debt, the company said in a statement. HSBC […] July 25, 2023
Analysis Banking & Finance Mid-cap stocks offer best dividend yields in Gulf Dividend-seeking Gulf investors are likely to find little value among the region’s blue-chip stocks and should instead target mid-cap companies with steady cash flows and low debt, experts suggest. When interest rates hovered near zero and average dividend yields on GCC stocks were around 4 percent, the difference with the risk-free rate – the return […] June 2, 2023
Energy Aramco dividends outstrip rival blue-chips Saudi Aramco’s payouts of dividends surpass those of other leading global companies, and the world’s top oil producer provides sizeable returns for its shareholders in monetary terms. Aramco listed on Riyadh’s bourse in December 2019 following a $29.4 billion initial public offering that sold around 1.7 percent of the government-owned company’s stock. Since then, it […] May 31, 2023
Energy Air Products says Saudi project driving earnings Air Products and Chemicals Inc. said that the second phase of its Saudi gas project has started contributing to income in the second quarter of 2023. Middle East and India equity affiliates’ earnings increased 39 percent year-on-year, primarily due to the completion of the second phase of the Jazan project, the world’s largest industrial gas complex […] May 10, 2023
