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Saudi Arabia

Saudi’s Khodari Profit Slumps 68.8%, Widely Misses Forecasts

Net profit fell to SAR7.91 million ($2.1 million) in the three months to June 30 from SAR25.38 million a year earlier, the company said in a statement.

SABIC Q2 Profit Rises 7%, Matching Analysts’ Estimates

The company earned SAR6.46 billion ($1.72 billion) in the quarter, compared to SAR6.04 billion in the year-earlier period.

Saudi’s Dar al-Arkan Q2 Net Profit Up 17%, Misses Forecasts

Net profit in the three months to June 30 was SAR121.3 million ($32.3 million) compared to 103.7 million in the same period a year earlier.

Saudi Arabia Investigates Imams Who Did Not Condemn Al Qaeda Attack

A senior official was quoted as saying in the local media that the imams were under investigation “for allegedly failing to highlight the incident in their sermons”.

Saudi’s Al Tayyar Travel Posts 8.3% Q2 Net Profit Rise On Higher Sales

The firm made SAR364 million ($97.1 million) in the three months to June 30, according to a bourse filing.

Telecoms Firm Zain Saudi Posts Narrowed Q2 Net Loss

The company made a net loss of SAR329 million ($87.7 million) in the three months to June 30, according to a bourse filing.

Saudi’s Savola Beats Estimates with 32.4% Net Profit Gain

The company made a net profit in the three months to June 30 of SAR513.3 million ($136.9 million), compared with SAR387.8 million in the same period a year earlier.

Saudi Arabia Boosts Security On Heavily Fortified Iraq Frontier

Saudi officials have not made public the total number of extra troops they have sent to the frontier, so far declining to comment on the accuracy of media reports which put the number at 30,000.

Saudi Retailer Jarir Marketing Says Board Proposes Lower Q2 Dividend

Cash divident is lower than the SAR1.70 per share which the firm paid for the corresponding period of 2013.

Different Arab money

Saudi’s Ma’aden Posts Sharp Rise In Second-Quarter Net Profit

The miner made a net SAR370.8 million ($98.9 million) in the three months to June 30, compared with 40.98 million in the year-earlier period.

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.