Saudi Arabia’s bourse, the largest in the Middle East, has remained under the pressure of global economic turmoil caused by the US credit downgrade and Europe’s debt crisis although oil…
Markets
Saudi Arabia’s bourse rebounds on valuations; caution on oil
Saudi’s shares rebounded as investors picked up stocks on attractive valuations after two-sessions of losses that dragged the index to a 23-week low, but global concerns still weighed on sentiment….
StanChart PE arm invests $75 million in Saudi Binladin Group
Standard Chartered’s private equity arm is scouting for more deals in Saudi Arabia after buying a minority stake in a Saudi Binladin Group unit for $75 million, its regional private…
Samba Financial sees 9.7% slip in Q2 net profit
Saudi Arabia’s second-largest lender by market value, Samba Financial Group has posted a 9.7% fall in second quarter net profit, in line with expectations, according to press reports. Samba said…
Credit Suisse raises Mobily price target
Credit Suisse raised its price target on Saudi Arabia’s Etihad Etisalat (Mobily) citing another strong year for the company as rising popularity of smart-phones continues to fuel the telecom carrier’s…
Sipchem raises $ 480 million from Sukuk sale
Saudi International Petrochemical Company, known as Sipchem, raised SR1.8 billion ($ 480 million) from the sale of Islamic bonds. The five-year, floating-rate sukuk was priced 175 basis points over the…
