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Bringing together government leaders, hotel investors, owners, developers and operators at what is set to be the biggest Future Hospitality Summit (FHS) to date, FHS Saudi Arabia will take place from 7-9 May at the Al Faisaliah Hotel in Riyadh.
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RIYADH: Saudi Arabia’s Tadawul All Share Index rose 89.56 points — or 0.84 percent — on Thursday to close at 10,051.78, led by sustained buying in all large-cap stocks. The Banking Index moved up 1.63 points to 10,714.58, led by about a 3 to 3.5 percent increase in the share prices of Banque Saudi Fransi, Saudi British Bank, Alinma Bank and Arab National Bank. TASI’s total
RIYADH: Savola Group has announced gains of SR81 million ($21.6 million) from the sale of its stakes in Knowledge Economic City Co. and Knowledge Economic City Developers to Taiba Investments Co. Taiba Investments inked a binding agreement to acquire Savola’s entire ownership in KEC and KECD for SR459.26 million in August, and the shareholders of both companies granted their
RIYADH: Shares of Savola Group Co. increased 0.66 percent, after its shareholders approved selling all Savola’s shares in Knowledge Economic City Co. to Taiba Investments Co. for SR459 million ($122 million). Savola saw its shares increase to SR30.8 as of 10:06 a.m. Saudi time. Savola owns an 11.47 percent stake in KEC — direct ownership of 6.40 percent and indirect ownership
RIYADH: Saudi stocks returned to positive territory after slipping steeply at the beginning of the week, however, major central banks’ interest rate hike plans and recession risks remain concerns for investors. The Tadawul All Share Index rose 0.50 percent to end Tuesday at 11,503, while the parallel market Nomu traded flat at 20,218. In the same direction, the UAE’s stocks
RIYADH: Saudi Arabia’s main index started lower on Wednesday as investors prepared for another large rate hike to be announced by the Federal Reserve. The Tadawul All Share Index dropped 0.1 percent to start at 11,491, while the parallel market Nomu started flat at 20,210, as of 10:06 a.m. Saudi time. Saudi oil giant Aramco began the day flat, while Rabigh Refining and
RIYADH: Saudi Arabia’s main index dipped in anticipation of another large rate increase by the Federal Reserve on Wednesday. The Tadawul All Share Index dropped 0.37 percent to end at 11,461, while the parallel market Nomu rose 0.23 percent at 20,265 Saudi oil giant Aramco ended the day with a 0.55 percent decline, while Rabigh Refining and Petrochemical Co. fell by 2.79
RIYADH: Taiba Investments Co. received its shareholders' approval to purchase all stakes owned by Savola Group in Knowledge Economic City Co. for SR459 million ($122 million). Savola owns an 11.47 percent stake in KEC — a direct ownership of 6.40 percent and an indirect ownership of 5.07 percent — through Knowledge Economic City Developers, according to a bourse filing. The