Saturday, 23 February 2013 18:14
Posted by Muhammad Iqbal
KHOBAR: Kingdom Holding Co, the international investment firm of Saudi billionaire Prince Alwaleed bin Talal will pay dividends worth 550.3 million Saudi riyals ($146.75 million) this year, in quarterly installments, the company said on Saturday. Kingdom Holding will "distribute quarterly cash dividends from retained earnings of 1.25 percent (5 percent for the full year) of the shares' nominal value, by distributing 12.5 Halalas per share quarterly (the total for the year is 0.50 Riyals per ...
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NAIROBI: Kenya's main share index fell for the seventh straight session to a four-week low, weighed down by profit taking after a post election rally, while the shilling was steady. The benchmark NSE-20 share index fell 0.6 percent to 4,839.49 points, a level last reached on March 27. The index has declined about 4 percent since April 11, mainly due to investors taking profits following a 12 percent rally that followed a largely peaceful election. The index is still up 18 percent so far this year. "Pronounced selling pressure across the bourse has pushed the index lower," said Ronald Lugalia, an analyst at Afrika Investment Bank. "But the bear-run could be checked by investors positioning for first quarter (company) results." Nation Media Group, the region's leading media house, dropped a further 3.1 percent to 278 shillings a share. It has lost a third of its value since April 12 after ...
KHOBAR: Saudi Yanbu National Petrochemical (Yansab) posted a 7.4 percent drop to 667.07 million riyals ($177.88 million) in net profit for the first quarter on Saturday, beating analysts' expectations of 577.46 million. Yansab, an affiliate of Saudi Basic Industries Corp (Sabic) , attributed the decline in profits to "lower production and sales" because of maintenance at its ethylene glycol unit. Copyright Reuters, 2013 ...
NEW YORK: World equity markets rallied for a fourth day on Thursday, lifted by a surprise drop in Americans seeking unemployment benefits last week, while crude fell on a cut in global demand forecasts as US oil supplies hit a two-decade high.Japan's aggressive monetary easing and signs of a growing recovery in China also lifted equity markets, with the Dow Jones and S&P 500 stock indexes setting new closing record highs.The 42,000 drop in initial ...
DUBAI: A new $12 billion Qatari investment firm, backed by assets from the sovereign wealth fund, will offer shares to the public in May as part of plans by the tiny Gulf state to share its riches with local citizens and institutions.Doha Global Investment Co, will have a total capital of 45 billion riyals ($12.36 billion), 50 percent of which will be in the form of paid-up capital, according to a statement from Hussain Ali ...
DUBAI: Sadara Chemical Company, a joint venture between Saudi Aramco and Dow Chemical, launched an Islamic bond sale that could raise at least $1.4 billion to finance a large petrochemical complex in the east of the kingdom.The $19.3 billion facility, located at Jubail Industrial City in Saudi Arabia's Eastern Province, will be the world's largest chemical complex ever built in a single phase.Sadara may increase the size of the planned sukuk to $2.5 billion depending ...
NAIROBI: Kenyan shares surged 3 percent to a four-and-half-year high on Monday as investors bought into stocks after a peaceful vote outcome over the weekend, while the shilling firmed against the dollar.Uhuru Kenyatta, the son of Kenya's founding president, won the presidential election with 50.07 percent of the vote, the country's election commission said on Saturday, which was just enough to avoid a run-off after a race that had divided the nation.The results, and the ...
KHOBAR: Kingdom Holding Co, the international investment firm of Saudi billionaire Prince Alwaleed bin Talal will pay dividends worth 550.3 million Saudi riyals ($146.75 million) this year, in quarterly installments, the company said on Saturday. Kingdom Holding will "distribute quarterly cash dividends from retained earnings of 1.25 percent (5 percent for the full year) of the shares' nominal value, by distributing 12.5 Halalas per share quarterly (the total for the year is 0.50 Riyals per ...
