Saudi stocks buck trend with healthy gains

Saudi Arabia’s benchmark Tadawul All-Share Index bucked the three-day prevailing downward trend and logged a sharp gain of 2.39 percent on Sunday.

Khafji disruption ‘unlikely to hurt KSA’s oil output’

ALKHOBAR: Crude production from the Khafji oilfield, jointly run by Saudi Arabia and Kuwait, has been halted temporarily to comply with environmental rules, according to an industry source and an inte

Burgan Bank plans $74.8m rights issue

DUBAI: Burgan Bank, Kuwait's third-largest lender by assets, will launch a 21.6 million dinars ($74.8 million) rights issue by the end of 2014 pending regulatory approvals, it said in a bourse filing

MMG board approves recovery plan

ALKHOBAR: Saudi contractor Mohammad Al-Mojil Group’s (MMG) board had approved a recovery plan that use most of its existing capital base to pay off debts and new cash raised through a share issue, it

SAFCO Q3 net profit rises 24%

JEDDAH: Saudi Arabia Fertilizers Co. reported a 24.4 percent rise in third-quarter net profit, ending a sustained profit slump as sales prices and sales volumes increased.

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