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Saudi’s Al Rajhi Bank Trims First-Half Dividend After Profit Fall

The bank has proposed paying SAR1 ($0.27) per share for the six-month period to June 30.

Saudi Cement Beats Estimates Despite 6.2% Q2 Net Profit Drop

The firm made a net profit of SAR288 million ($76.8 million) in the second quarter, compared with SAR307 million in the corresponding period of 2013.

Saudi’s Yansab Misses Forecast As Q2 Net Profit Slips 8.6%

The firm made a net profit of SAR613 million ($163.5 million) in the second quarter compared with SAR670.5 million in the same period of 2013.

Saudi’s SAFCO Posts 7.8% Q2 Net Profit Fall

The company said it made SAR639 million ($170.4 million) in the second quarter, compared to SAR693 million in the same period a year ago.

Saudi Lender NCB Posts 22% Q2 Net Profit Jump

NCB said the growth was driven by an 8.3 per cent year-on-year increase in net special commissions income.

Saudi Conglomerate Olayan Buys 51% Stake In Gulf Union Foods Co

The stake was acquired from a group of investors including private equity firm Jadwa Investment.

Saudi Lender Samba Beats Estimates with 7% Q2 Net Profit Rise

The bank made SAR1.26 billion ($336 million) in the three months ending June 30, compared with SAR1.18 billion in the same period a year earlier.

Saudi Sipchem Q2 Net Profit Jumps 41%; Sales, Margins Rise

Sipchem made a profit of SAR244.6 million ($65.3 million) in the three months to June 30, up from SAR174.0 million in the prior-year period.

Saudi’s Al Rajhi Bank Q2 Net Profit Slips 8.2%; Matching Forecast

The bank said it made SAR1.95 billion ($520 million) in the three months ending June 30, compared with SAR2.12 billion in the same period a year earlier.

Banque Saudi Fransi Hikes First-Half Dividend

The proposed figure is above the SAR0.3 per share which the bank paid for the corresponding period of 2013.

Saudi June Oil Production Rises To 9.78m bpd

The Kingdom typically increases production during the hot summer months to meet a surge in electricity demand.

UK Regulators Quiz Airbus Staff Over Saudi Corruption Allegations

The UK’s Serious Fraud Office reportedly questioned and arrested four former and current employees at Airbus unit GPT Special Project Management.

IFC To Inject Up to $100m In Saudi’s ACWA Power For Renewable Energy

The investment will focus on expanding the amount of power generated in the Middle East and North Africa through green methods.

Ascott Expands In Saudi Arabia

Operator foresees residence demand boom on back of Kingdom’s FDI growth

Mortars Land In Saudi Arabia Near Iraq Border

Authorities were investigating where the rockets were fired from

Stock News: Saudi Arabia Positive, Dubai May Consolidate

The main index in Saudi Arabia rose 0.4 per cent on Monday and closed at 9,790 points.

Saudi Jails Four For Planning To Fight In Iraq, Supporting Al Qaeda

The four, one of whom was sentenced in absentia, were given prison sentences of two years to five years and six months.

Shell Shelves Saudi Gas Development Project

Shell did not give a reason for the decision to end investments in the project, which is located in the Kidan area.

Dubai’s ENOC Receives Nod For 40 Fuel Stations In Saudi Arabia

ENOC is one of the three companies that won the qualification certification to open more outlets in Saudi Arabia.

Saudi Retailer Jarir Marketing Q2 Net Profit Rises 7.1%

The company said the increase was due higher sales in all segments apart from computers.

Saudi Arabia Jails Human Rights Activist Walid Abu al-Khair For 15 Years

Abu al-Khair had been on trial on sedition charges that included breaking allegiance to King Abdullah and showing disrespect for authorities.

Saudi Hollandi Bank Q2 Net Profit Jumps 28.1% On Higher Income

The lender cited higher operating income – which increased 17 per cent year-on-year – for the increase in net profit.

Saudi’s Emaar EC Says Port Unit Agrees Capital Hike To Fund Expansion

The port, which began operating on Jan. 6, currently has an annual capacity of 1.3 million twenty-foot equivalent units.

Saudi Electricity To Be Paid SAR2.7bn In Debt Owed

The payment will have a significant impact on earnings, the company said.

Saudi Arabia’s Almarai Q2 Net Profit Rises 8.8%

The company said rising costs had crimped its half-year profit due to a rising wage bill associated with localisation efforts.

Saudi Arabia Deploys 30,000 Soldiers To Border With Iraq – Al-Arabiya TV

Al Arabiya said that it had obtained a video showing Iraqi soldiers in Karabala after they quit their positions on the border.

Obama Discusses Iraq Threats With Saudi Arabian King Abdullah

U.S President Barack Obama and Saudi Arabia’s King Abdullah agreed to consult closely on regional developments, the White House said.

Saudi Non-Oil Business Activity Accelerates In June – PMI

The seasonally adjusted SABB HSBC Saudi Arabia Purchasing Managers Index increased to 59.2 points last month from 57.0 points in May.

Saudi Aramco Unit Ups Stake In S-Oil In $1.95bn Deal

The purchase will increase AOC’s ownership of S-Oil to 63.4 per cent from 34.99 per cent, AOC said in a statement.

Saudi’s Ma’aden Signs $5bn Financing For Phosphate Scheme

The scheme will have a production capacity of 16 million tonnes per year of phosphate concentrate, sulphuric acid and phosphoric acid.