Burgerizzr pays $2.1m in cash dividends in H1

Burgerizzr pays $2.1m in cash dividends in H1
Burgerizzr opened 13 new branches in the first half of this year
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Updated 22 September 2021

Burgerizzr pays $2.1m in cash dividends in H1

Burgerizzr pays $2.1m in cash dividends in H1

Burgerizzr board of directors have signed off on SR8 million ($2.1 million) in cash dividends for the first half of 2021, according to a filing.

The pay-out — worth SR 3.2 per share - come as the restaurant chain’s profits increased by 16 percent to SR6.49 million ($1.73 million) during the first half of this year.

Burgerizzr, run by Shatirah House Restaurant Company, saw its net profits rise thanks to the opening of 13 new branches in the period to the end of June 2021.

Financing costs and losses on the disposal of property and equipment also decreased, according to Tadawul.

The total income of the company amounted to SR24.4 million in the first half of this year, up 28 percent compared to SR19 million during the same period in 2020.

The operating profit amounted to SR7 million, up 5 percent, compared to SR6.8 million for H1 last year.

Earnings per share during the period amounted to SR2.6, compared to SR2.25 during the first six months of last year.


Saudi Ministry of Industry issues 1,795 mining licenses until September

Saudi Ministry of Industry issues 1,795 mining licenses until September
Updated 11 sec ago

Saudi Ministry of Industry issues 1,795 mining licenses until September

Saudi Ministry of Industry issues 1,795 mining licenses until September
  • The number of licenses underscores the positive restructuring of the industry investment climate due to the new Mining Investment Law.

Saudi Arabia’s ministry of industry and mineral resources issued 1,795 mining licenses until September 2021, Argaam reported citing the ministry’s report on its mining indicators. 

The licenses included 1,041 licenses for building materials quarries, 22 detection licenses, 563 exploration licenses, and 169 licenses for mining and small-scale mining, the ministry said in a statement. 

The number of licenses underscores the positive restructuring of the industry investment climate due to the new Mining Investment Law.


Saudi telecom giant 'stc' reports 3.5% jump in net profit in 9 months

Saudi telecom giant 'stc' reports 3.5% jump in net profit in 9 months
Updated 28 min 49 sec ago

Saudi telecom giant 'stc' reports 3.5% jump in net profit in 9 months

Saudi telecom giant 'stc' reports 3.5% jump in net profit in 9 months

RIYADH: Saudi telecom giant 'stc" said its net profit for the first nine months of 2021 increased by SR295 million or 3.5 percent to SR8.7 billion compared to a year ago.

The company said in a filing that this was the result of the increase in revenues by SR3.6 billion and a decrease in operating expenses by SR627 million due to the decrease in general and administration expenses and selling and marketing expenses.


Nigeria to launch digital currency on Monday, central bank says

Nigeria to launch digital currency on Monday, central bank says
Getty Images
Updated 33 min 4 sec ago

Nigeria to launch digital currency on Monday, central bank says

Nigeria to launch digital currency on Monday, central bank says
  • Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said the eNaira would operate as a wallet

Nigeria will on Monday launch a digital currency, the eNaira, the central bank said, months after it barred banks and financial institutions from dealing in or facilitating transactions in cryptocurrencies.

Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said the eNaira would operate as a wallet against which customers can hold existing funds in their bank account.


"The eNaira therefore marks a major step forward in the evolution of money and the CBN is committed in ensuring that the eNaira, like the physical Naira, is accessible by everyone," the bank said in a statement.


Nigeria has named Barbados-based Bitt Inc as a technical partner in developing the eNaira. 


Saudi Arabia plans to be world’s biggest hydrogen producer

Saudi Arabia plans to be world’s biggest hydrogen producer
Updated 35 min 42 sec ago

Saudi Arabia plans to be world’s biggest hydrogen producer

Saudi Arabia plans to be world’s biggest hydrogen producer

DUBAI: Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman Al-Saud said the Kingdom has plans to be the biggest producer of hydrogen in the world.

The comments were made at the Youth Green Summit in Riyadh, which is part of the Saudi Green Initiative.


QatarEnergy signs deal with ExxonMobil Canada on farm-in exploration license

QatarEnergy signs deal with ExxonMobil Canada on farm-in exploration license
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Updated 24 October 2021

QatarEnergy signs deal with ExxonMobil Canada on farm-in exploration license

QatarEnergy signs deal with ExxonMobil Canada on farm-in exploration license
  • The Hampden exploration well activities are planned in deep water, 450 km off the coast of Newfoundland and Labrador

QatarEnergy has signed a deal for a 40 percent stake in one of ExxonMobil’s major offshore explorations in Canada, the Qatar state-owned oil and gas firm said on Sunday.


The deal marks QatarEnergy’s first foray into offshore exploration in Canada, the company said in a statement.


The agreement will give QatarEnergy a farm-in exploration license for EL 1165A, currently held by ExxonMobil Canada.


The Hampden exploration well activities are planned in deep water, 450 km off the coast of Newfoundland and Labrador. ExxonMobil Canada will retain the remaining interest in the exploration.


Over the past two years, Qatar Energy has expanded internationally, gaining stakes in oil and gas projects around the world by signing deals with major energy companies, including ExxonMobil.


Qatar is the world's largest supplier of liquefied natural gas and aims to expand production to 127 million tonnes annually by 2027 from the current 77 million tonnes.