6 things you need to know on Tadawul today

6 things you need to know on Tadawul today
Oil prices rose on Tuesday morning. (File/Shutterstock)
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Updated 24 November 2020

6 things you need to know on Tadawul today

6 things you need to know on Tadawul today

Here are a few things you need to know as Saudi stocks start trading on Tuesday.

1) Arabian Cement Co. is expected to start commercial operations at Rabigh clinker production line by Q3 2021.

2) Arabian Centres Co. signed a lease and investment agreement with Madinah Municipality for a vacant land plot to develop a shopping center.

3) Saudi Industrial Export Co. (SIECO) appointed Alkhair Capital as financial advisor for upcoming rights issue.

4) Leejam Sports Co. (Fitness Time) signed a strategic partnership agreement with Alpha E-Commerce, the parent company of sports brand Squat Wolf.

5) Fund manager Muscat Capital announced appointing Ahmed Al Busaidi, a non-independent member, as chairman of Al Mashaar REIT as of Nov. 23, 2020.

6) Oil prices rose on Tuesday morning. Brent crude edged up 35 cents to $46.41/bbl, while WTI crude gained 36 cents to $43.42/bbl.

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EgyptAir reduces its ticket prices by 50% to European countries

EgyptAir reduces its ticket prices by 50% to European countries
Updated 25 January 2021

EgyptAir reduces its ticket prices by 50% to European countries

EgyptAir reduces its ticket prices by 50% to European countries
  • Business class tickets discounted by 35%, and economy class tickets by 25%, with discounts applicable when purchasing tickets until Jan. 31
  • Tourism revenues in Egypt plummeted by more than 69% during the last year due largely to the coronavirus disease pandemic

CAIRO: EgyptAir has announced a 50 percent discount on economy and business class tickets between Cairo and a number of European destinations.

The company offered discounts on its flights between Cairo and Paris for travel from Jan. 24 to Jan. 29, between Cairo and Amsterdam for travel on Jan. 24, 27 and 29, Cairo and London from Jan. 27 to Jan. 29 and between Cairo and Frankfurt on Jan. 28.

The company announced the continuation of discounts on flights between Egypt and Saudi Arabia, Riyadh, Dammam, Jeddah, Madinah and Al-Qassim.

Business class tickets are 35 percent off, and economy class tickets are 25 percent off, with discounts applicable when purchasing tickets until Jan. 31 and traveling until March 15, returning before March 31.

Last Thursday, the state-owned company began applying additional discounts to the price of fuel for the aviation sector, to reach 15 cents per gallon, in support of the tourism sector and to stimulate aviation.

Tourism revenues in Egypt plummeted by more than 69 percent during the last year due largely to the coronavirus disease pandemic, dropping to about $4 billion compared to more than $13 billion in 2019 due to the suspension of air traffic and travel worldwide, and the closure of borders between countries for several months.

Egypt announced an initiative to stimulate domestic tourism under the title “Winter in Egypt,” which relies on reducing the prices of domestic flight tickets.