RIYADH: Shares in Saudi Arabia’s Dr. Sulaiman Al Habib Medical Services Group recorded an all-time closing high of SR213 ($57) on Monday.
This is up almost 326 percent from the debut price of SR50 back in March 2020.
The stock ended the trading session with an increase of nearly 5 percent, after touching its highest ever value of SR216 earlier in the day.
Established in 1995, the group today operates seven hospitals in the Kingdom, as well as in the UAE and Bahrain.
RIYADH: Saudi Aramco has signed an initial agreement with the Palm Cooperative Society in Al-Ahsa for an initiative that seeks to develop dates production and food manufacturing industries in the governorate.
The initiative’s first phase includes the processing and operation of the association’s existing factory, which includes the production, packaging and marketing of products, Saudi Press Agency reported.
It also aims to directly assist 200 beneficiaries with low incomes in Al-Ahsa governorate and to provide training courses on farming methods to cover the largest number of indirect beneficiaries.
RIYADH: The Royal Commission for Riyadh City has announced the opening of Singapore-based Global Schools Foundation’s One World International School in Riyadh. 
This comes as part of RCRC International Schools Attraction Program that aims to bring international schools to the Saudi capital in partnership with the Ministry of Investment and the Ministry of Education, said a statement. 
“Attracting prestigious global institutions such as the OWIS is a big part of how Riyadh is creating a world-class education ecosystem,” Mazen Tammar, head of education sector at the RCRC, said. 
“The international institutions brought here by the RCRC will not only enhance the education sector but also contribute to the transformation of the capital into one of the world’s most competitive and liveable cities by 2030,” he added. 
Founded in 2002, Singapore-based GSF has several international brands including OWIS, Dwight School — Korea and GIIS.
It currently operates 26 campuses in eight countries with over 25,000 students. 
RIYADH: Saudi Arabia’s Najran Cement Co. posted a 61 percent decrease in profit for the first quarter of 2022, primarily due to lower sales.
The cement producer saw its profits fall to SR23 million ($6 million), down from SR60 million in the same period a year earlier, according to a bourse filing.
The decline in profit was caused by a decline in sales and an increase in production costs.
For the same period, sales and revenue totaled SR139 million, down 24 percent from the first quarter of last year.
RIYADH: Dammam-based Saudi Arabian Amiantit Co. has widened losses by 344 percent in the first quarter of 2022 despite a slight increase in its revenues.
The company’s net losses widened to SR5.98 million ($1.5 million) during the first quarter of 2022, compared to SR1.34 million in the same period last year, according to a bourse filing.
Increased net losses happened despite a 4.3 percent increase in the company’s revenues. 
This rise in losses was a result of recorded accounting profits during the first quarter of 2021 against settlement discounts for some outstanding obligations with some banks that amounted to around SR20 million. 
Established in 1968, the company manufactures pipes. 
RIYADH: Saudi food delivery platform Jahez said it has signed an initial deal to acquire The Chefz — one of its rivals in the Kingdom.
The firm, formally known as Jahez International Co. for Information Systems Technology, seeks a full acquisition of The Chefz, it said in a bourse filing.
Riyadh-based The Chefz is an app specialized in food delivery and caters to several citites across the Kingdom.
Valued at $2.94 billion as of May 19, Jahez joined Saudi exchange’s parallel market earlier this year as its first-ever listing of a local startup.


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