Latest news with #ArabianContractingServices
Zawya
11-08-2025
- Business
- Zawya
Mideast Stocks: Saudi slips on weaker corporate earnings; Egypt hits new record high
Saudi Arabia's stock market slipped on Sunday as some lacklustre corporate results came in, while Egypt's benchmark share index advanced for a seventh day to hit a fresh record high amid economic optimism and falling inflation. Saudi Arabia's benchmark index was down for a second straight session, falling 0.3% as most of its constituents posted losses. Arabian Contracting Services slumped 10% after the advertising firm posted a second-quarter net loss, compared with a profit last year, and BinDawood Holding declined 1.2% as the major retailer reported a 32.7% decrease in net profit for the second quarter. Among other fallers, Jahez dropped 10% after the IT services provider posted a 21.9% fall in second quarter net profit. The Qatari benchmark index was little changed after it hit a more than 2-1/2-year high in the previous session. Losses in the real estate, industry and materials sectors offset gains in energy, communication and finance. Industries Qatar fell 1.9% and Mesaieed Petrochemical shed 1.2%, while Qatar Islamic Bank and Estithmar advanced 0.7% and 7.9% respectively. Outside the Gulf, Egypt's blue-chip index extended its rally to a seventh session, rising 0.8% to a new all-time high at 36,110 with most stocks climbing. Orascom Development jumped 5.4% and Sidi Kerir Petrochemicals advanced 2.2%. Meanwhile, Egypt's annual urban consumer price inflation dropped to 13.9% in July from 14.9% in June, data from statistics agency CAPMAS showed on Sunday. SAUDI ARABIA dropped 0.3% to 10,899 KUWAIT up 0.6% to 9,320 QATAR ended flat at 11,362 EGYPT rose 0.8% to 36,110 BAHRAIN ended flat at 1,944 OMAN up 0.1% to 4,856 (Reporting by Md Manzer Hussain; Editing by Hugh Lawson)
Business Recorder
11-08-2025
- Business
- Business Recorder
Saudi stock slips on weaker corporate earnings
DUBAI: Saudi Arabia's stock market slipped on Sunday as some lacklustre corporate results came in, while Egypt's benchmark share index advanced for a seventh day to hit a fresh record high amid economic optimism and falling inflation. Saudi Arabia's benchmark index was down for a second straight session, falling 0.3% as most of its constituents posted losses. Arabian Contracting Services slumped 10% after the advertising firm posted a second-quarter net loss, compared with a profit last year, and BinDawood Holding declined 1.2% as the major retailer reported a 32.7% decrease in net profit for the second quarter. Among other fallers, Jahez dropped 10% after the IT services provider posted a 21.9% fall in second quarter net profit. The Qatari benchmark index was little changed after it hit a more than 2-1/2-year high in the previous session. Losses in the real estate, industry and materials sectors offset gains in energy, communication and finance. Industries Qatar fell 1.9% and Mesaieed Petrochemical shed 1.2%, while Qatar Islamic Bank and Estithmar advanced 0.7% and 7.9% respectively. Outside the Gulf, Egypt's blue-chip index extended its rally to a seventh session, rising 0.8% to a new all-time high at 36,110 with most stocks climbing.
Reuters
10-08-2025
- Business
- Reuters
Saudi slips on weaker corporate earnings; Egypt hits new record high
Aug 10 (Reuters) - Saudi Arabia's stock market slipped on Sunday as some lacklustre corporate results came in, while Egypt's benchmark share index advanced for a seventh day to hit a fresh record high amid economic optimism and falling inflation. Saudi Arabia's benchmark index (.TASI), opens new tab was down for a second straight session, falling 0.3% as most of its constituents posted losses. Arabian Contracting Services ( opens new tab slumped 10% after the advertising firm posted a second-quarter net loss, compared with a profit last year, and BinDawood Holding ( opens new tab declined 1.2% as the major retailer reported a 32.7% decrease in net profit for the second quarter. Among other fallers, Jahez ( opens new tab dropped 10% after the IT services provider posted a 21.9% fall in second quarter net profit. The Qatari benchmark index (.QSI), opens new tab was little changed after it hit a more than 2-1/2-year high in the previous session. Losses in the real estate, industry and materials sectors offset gains in energy, communication and finance. Industries Qatar ( opens new tab fell 1.9% and Mesaieed Petrochemical ( opens new tab shed 1.2%, while Qatar Islamic Bank( opens new tab and Estithmar ( opens new tab advanced 0.7% and 7.9% respectively. Outside the Gulf, Egypt's blue-chip index (.EGX30), opens new tab extended its rally to a seventh session, rising 0.8% to a new all-time high at 36,110 with most stocks climbing. Orascom Development ( opens new tab jumped 5.4% and Sidi Kerir Petrochemicals( opens new tab, ( opens new tab advanced 2.2%. Meanwhile, Egypt's annual urban consumer price inflation dropped to 13.9% in July from 14.9% in June, data from statistics agency CAPMAS showed on Sunday.
Zawya
06-02-2025
- Business
- Zawya
Arabian Contracting Services seals $259mln SAB finance deal
Arabian Contracting Services Company has announced the signing of a long-term credit facility agreement (sharia compliance) with the Saudi Awwal Bank (SAB) amounting to SAR972 million ($259 million). The credit facility is for a 8-year period and its proceeds will be used for refinancing the acquisition loan to Faden Media, said Arabian Contracting Services in its filing to Saudi bourse Tadawul. This is in alignment with the company's strategy to reduce the finance cost and increase the profitability, it stated. This also involves settling outstanding debts with other banks, said the company in its bourse filing. Additionally, Arabian Contracting Services said it is focused on enhancing profitability and minimising costs, aligning with its strategic financial direction to ensure the company remains in a strong and effective position. This approach aims to achieve sustainable and long-term returns for its shareholders, it added.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
05-02-2025
- Business
- Trade Arabia
Arabian Contracting Services seals $259m SAB finance deal
Arabian Contracting Services Company has announced the signing of a long-term credit facility agreement (sharia compliance) with the Saudi Awwal Bank (SAB) amounting to SAR972 million ($259 million). The credit facility is for a 8-year period and its proceeds will be used for refinancing the acquisition loan to Faden Media, said Arabian Contracting Services in its filing to Saudi bourse Tadawul. This is in alignment with the company's strategy to reduce the finance cost and increase the profitability, it stated. This also involves settling outstanding debts with other banks, said the company in its bourse filing. Additionally, Arabian Contracting Services said it is focused on enhancing profitability and minimising costs, aligning with its strategic financial direction to ensure the company remains in a strong and effective position.
