RIYADH: The Saudi main index started the week’s final session higher, buoyed by strong results from the Kingdom’s banking sector, which lifted investor hopes, despite the GCC's central banks increasing their interest rates on Wednesday by three quarters of a percentage point. TASI edged 0.64 percent higher reaching 12,128, while the parallel market, Nomu, started flat at
RIYADH: Saudi Kayan Petrochemical Co. has cut its financial costs after paying SR1.68 billion ($450 million) as an early loan settlement. The petrochemical firm said in a bourse filing that the transaction will reduce financial costs by nearly SR72 million. Saudi-listed Kayan had seen its net profit plunge by 57.5 percent to SR209 million in the first quarter of 2022, weighed
RIYADH: Saudi Kayan Petrochemical Co.’s profit was dragged down by lower demand during the first quarter, the firm’s chairman, Ahmed Al-Shaikh, told Argaam. Riyadh-listed Kayan saw its net profit plunge by 57.5 percent to SR209 million ($55.7 million), down from SR493 million for the same period last year. Al-Shaikh attributed the profit decline to a number of challenges,
RIYADH: Saudi-listed Kayan Petrochemical's shares slumped early this morning after the company reported a drop in first-quarter profits. As of 11:16 a.m. Saudi time, shares were down 7.55 percent at SR18.62 as opposed to SR20.14 from the previous close. Saudi Kayan Petrochemical Co. saw its net profit plunge by 57.5 percent for the first quarter of 2022. The net profit
RIYADH: Saudi Kayan Petrochemical Co. turned into profit of SR2.3 billion ($60 million), according to a bourse filing. The company attributed the rise in profit to an increase in the average selling prices of products and a decrease in financing costs.