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Securities litigation, long a prominent – and expensive
– feature of jurisdictions such as the US, is increasingly
emerging as a threat within the English litigation landscape.
Put simply, securities actions seek redress for losses said to
have been suffered by investors who have acted on the basis of
untrue or misleading information issued to the market. This is
generally where bad news leads to a sharp and sustained drop in the
share price.
A number of factors have combined to create additional
litigation exposures for companies across all sectors, but the
DUBAI: Saudi food giant Almarai is set to invest SR6.6 billion ($1.8 billion) to expand its poultry business that aims to double its market share in the sector.
The expansion will be implemented in several phases over five years, the company said in a filing on Monday.
“Expansion will be focusing on different geographical locations in the Kingdom to enhance the biosecurity in poultry farms and to distribute the company’s contributions in economic development,” it said in a statement.
The project is one of a number of major private sector expansions announced in recent weeks and comes as the Kingdom moves to boost its food security in the wake of the coronavirus pandemic.
RIYADH: Value-added tax (VAT) in Oman will provide the government 300 million Omani riyals revenues in 2021 (about $780 million) and 400 million omani riyals in 2022, said Ubhar Capital SAOC CEO Loai Bataineh today.
He explained that the decline in revenues in the first quarter is due to the decline in the price of oil and the restructuring of some government investments, Al Arabiya reported.
Better oil prices and production, governmental apparatus restructuring and VAT implementation in mid-April this year, will reflect a better performance in the second quarter, Batained said.
Oman budget deficit reached 751 million Omani riyals in the first quarter of 2021 ($2 billion), due to 30 percent decline in revenues caused by the pandemic outbreak and decline in oil prices.
Baker Hughes Jumps as Barclays Optimistic About Oil Services
Baker Hughes was upgraded to overweight from equal weight at Barclays. The time to own oilfield services is now, the investment firm says.
Author:
Shares of Baker Hughes (
BKR) jumped on Monday after Barclays analysts upgraded the stock to overweight from equal weight on a bullish outlook for global oil markets. The time to own [oilfield services] is now, Analyst J. David Anderson said, according to Bloomberg.
Anderson raised his price target on the Houston company to $28 a share from $25.
At last check Baker Hughes was up 8.8% to $21.85.
Anderson upgraded his industry view on the oilfield services and equipment sector to positive.