Stocks of transport companies surge
December 9, 2013
The Saudi stock market continued its positive movement, marking another gain of 0.94 percent Sunday.
The Tadawul All-Share Index (TASI) jumped into the green territory earlier Sunday and spending entire session in the same region closed higher at 8,321.33 points, up nearly 77.59 points from its previous close.
On year-to-date basis, the index showed a collection of 1,520 points. All market cap indices showed modest gains.
Sectoral performance was tremendous, as 14 out"...
Euler Hermes GCC named 'Best Credit Insurance Provider in Saudi Arabia 2013' by International Finance Magazine
December 8, 2013
The International Finance Magazine (IFM) 2013 award to Euler Hermes GCC as the "Best Credit Insurance Provider in the Saudi Arabia" recognizes in particular the company's high quality of service.
Sunil Bhat, director of International Finance Magazine said: " ......Continue Reading >
Saudi Arabia’s nonoil business activity growth accelerates
December 5, 2013
Growth in Saudi Arabia’s nonoil business activity accelerated in November, according to a survey.
The Saudi British Bank SABB has published the results of the headline SABB HSBC Saudi Arabia Purchasing Managers’ Index (PMI) for November 2013 — a monthly report issued by the bank and HSBC.
It reflects the economic performance of Saudi Arabian nonoil producing private sector companies through monitoring a number of variables, including output, orders, prices, stocks and employment.
At 57.1 in November,...
Saudi banks’ liquidity ratio eases to 11.79%
December 2, 2013
The aggregate liquidity ratio of Saudi commercial banks fell to 11.79 percent in October 2013 from 12.35 percent the previous month, according to the monthly statistical bulletin of the Saudi Arabian Monetary Agency (SAMA).
The liquidity ratio, which accounts for bank reserves over total deposits, declined due to a 5 percent m/m drop in bank reserves"...
Saudi Hospitality Firm Al-Hokair Plans 2014 IPO
November 28, 2013
Saudi Arabia’s Al-Hokair Group, one of the largest entertainment and hospitality firms in the Middle East, is planning an initial public offering on the Kingdom’s bourse in 2014, two banking sources familiar with the matter said.
Family-owned Al-Hokair, set up in 1965 and backed by Saudi private equity and investment firm Jadwa Investment Co, has appointed Saudi Fransi Capital, the investment banking arm of"......Continue Reading >
Is A Debt Problem Brewing In Saudi Arabia?
November 27, 2013
The rapid expansion of credit in Saudi Arabia is beginning to look like a cause for concern, warns Jason Tuvey of Capital Economics. If sustained, it could be followed by a rise in bad loans.
Saudi Arabia’s private sector credit-to-GDP ratio currently stands at 39 percent -- the lowest among"...Continue Reading >
Multi-Investment shares dominate by 1.54%
November 25, 2013
The Saudi stock market depicted a positive drive Sunday, as the Tadawul All-Share Index (TASI) edged higher to 8,388.17, up 50.38 points or 0.6 percent from previous level.
On a year-to-date basis, the index crossed a positive return of 23.3 percent. The Med cap indices showed the best performance, advancing more than one percent.
Thirteen out of Tadawul's 15 sectors ended the day with modest gains, accumulating an aggregate of 688 points. Multi-Investment and Cement were major gainers among sectoral indices, which marginally...
Union Bancaire Privée: Outlook 2014 – “Healing”
November 21, 2013
Developed countries’ equity markets are set to continue their upward trend. “In 2014 the Fed should be the first to reduce its liquidity injections; the markets are likely to welcome this as the economy is on the mend – you can’t stay in intensive care forever!”, says Jean-Sylvain Perrig, Chief Investment Officer at Union Bancaire Privée (UBP). That being said, central bank support will continue for developed economies, helping"...Continue Reading >
Gemalto and IBM to Offer Enhanced eBanking Security Platform
November 20, 2013
The new Ezio eBanking server is first to be compliant with both the leading proprietary technologies and the industry’s most popular open standards, supporting all types of two-factor authentication tokens, including OTP, PKI, OATH and software solutions
CARTES Secure Connexions Event 2013
Regulatory"...Continue Reading >
ATF Bank in Kazakhstan launches new differentiated contactless EMV offer with Gemalto’s transparent card range
November 20, 2013
Gemalto (Euronext NL0000400653 GTO), the world leader in digital security, has been chosen by ATF Bank to supply an eye-catching and innovative contactless EMV card. Utilizing Gemalto’s ability to design its Optelio range of banking cards with a transparent card body, this new range will provide ATF Bank with a highly differentiated customer offer in the fast-growing market for contactless payments in Kazakhstan.
......Continue Reading >