Latest news with #Capital Market Authority
Argaam
13 hours ago
- Business
- Argaam
Jahez board to allocate 7.63M shares to employee stock plan
Jahez International Co. for Information System Technology (Jahez) said its board of directors recommended allocating repurchased shares to be held as treasury stock for the company's employee stock program. The move will have no financial impact, the company said in a statement to Tadawul. In May, Jahez's board recommended repurchasing up to 7.63 million treasury shares, equivalent to 3.64% of its total shares. The company said the shares may also be used in swap transactions for stake or asset acquisitions, for its employee stock program, or for sale, in line with Capital Market Authority (CMA) regulations and other applicable laws.
Zawya
17-07-2025
- Business
- Zawya
Saudi Arabia to establish commodities bourse
Saudi Arabia is pushing ahead with plans to establish a commodity exchange in its capital Riyadh, a move aimed at reducing reliance on global markets to determine prices, a senior Saudi official has said. The establishment of the Gulf Kingdom's first commodities bourse will take place through cooperation between the Ministry of Industry and Mineral Resources and the Kingdom's financial sector, which is studying the market's details and preparing the necessary preparations for its launch, said Khalid Al-Mudaifer, Saudi Deputy Minister of Industry and Mineral Resources The Saudi Asharq business website quoted Al-Mudaifer as saying the plan to establish this exchange in the world's largest oil exporter is not new. In May 2023, the Shura Council (appointed parliament) requested the Capital Market Authority to study the feasibility of commodities exchange in the Kingdom. Saudi Arabia's plan for such an exchange coincides with a surge in the mining sector following the enforcement of a landmark mining investment law six years ago. (Writing by Nadim Kawach; Editing by Anoop Menon) (
