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10.13 Saudi time: RIYADH: With most of the stocks on the index starting the day in the green zone, Tadawul’s TASI rose 0.39 percent in early trading. Sadr Logistics and Naseej International Trading Co. led the top gainers, with Sadr reaching another record high of SR124 ($33). Naseej’s gains were attributed to its recent decision to raise SR150 worth of capital to limit the
RIYADH: The new coronavirus variant, Omicron, will be one of the driving forces for the Saudi stock market in the near-term, as fears over its economic impact continue to burden investor sentiment. Saudi Economic and Development Securities Co. announced the approval of raising its Capital REIT fund’s assets value by SR701 million ($186.87 million) and the approval of the
Investegate announcements from U&I Group PLC, Rule 2.9 Announcement
Introduction Directors of non-UK-incorporated, non-UK tax resident companies which have some connection with the United Kingdom (eg, UK shareholders) have an important role in ensuring that the company in question does not become UK tax resident. In the recent case of HMRC v Development Securities PLC, the Court of Appeal held that a Jersey-incorporated company with a majority of Jersey-based directors was UK resident. Although the facts of the case were unusual, some useful pointers as to what went wrong for the company and how it could have done better can be gleaned from the judgment. Bac...