Please wait...
GulfBase Live Support
Leave a message and our representative will contact you soon
- Omani bourse extends rally as financial sector leads
- CBO issues treasury bills worth OMR26.250 million
- Closing Bell: Saudi main index sheds points to settle at 12,109.94
- Annual trade between Qatar and Jordan hits $248m
- Saudi Arabia, Japan strengthen investment ties with strategic MoU
- Saudi banking sector boosted by flurry of debt, sukuk issuances
- Ministry of Commerce issues decision on principles of governance for closed joint-stock companies
- Madayn's cumulative investment volume up by OMR1 billion in 5 years
- Aldar raises $2.45bn in sustainability-linked credit facility
- Why should UAE investors remain bullish on crypto market in 2025?
29/01/2018 06:12 AST
Kingdom Holding Co. surged after its chairman, Prince Al Waleed Bin Talal, was released from the Ritz-Carlton in Riyadh, which served as a prison for billionaires and princes since Saudi Arabia started its anti-corruption campaign in November.
The shares gained 10 per cent, the most since November 2014 and the maximum allowed in a day. The billionaire, who also owns stakes in Citigroup Inc. and Twitter Inc., returned home on Saturday after reaching a settlement with authorities, a senior government official said on condition of anonymity. He will remain at the helm of his company, the official said.
His departure from the hotel, along with other prominent Saudi businessmen, marks the end of the first phase of Crown Prince Mohammad Bin Salman's anti-corruption campaign. Hundreds of suspects were arrested or summoned for questioning, including some of the country's richest individuals. More than $100 billion is expected to accrue to the Saudi government from the settlements.
Kingdom shares rose to 10.04 riyals as of 10:52 am in Riyadh, but they are still more than 2 per cent below the level before Prince Al Waleed was arrested. The Tadawul All Share Index was little changed.
Clothing retailer Fawaz Abdulaziz Al Hokair & Co. also advanced after billionaire Fawaz Al Hokair was also released from detention. The stock advanced as much as 8.1 per cent, the most since November, before paring its gain to 6.6 per cent.
Gulf News
21/03/2018
Prince Al Waleed Bin Talal, just weeks after his release from detention in Riyadh's Ritz-Carlton, is hunting for deals again and planning to reshape his investment empire.
The prince, in hi
Gulf News
18/03/2018
Kingdom Holding Co is reviving talks to raise about $1bn in loans, weeks after its chairman Prince Alwaleed bin Talal was released from detention, people familiar with the matter said.
The
Gulf Times
09/03/2018
Kingdom Holding Company (KHC) has signed a smart city consulting agreement to design ICT infrastructure and smart services for Jeddah Tower and Jeddah Economic City Project on behalf of the Jeddah Ec
Arab News
| Ticker | Price | Volume |
|---|---|---|
| SAUDIARAMCO | 27.10 | 9,184,998 |
| RIYADHSTEEL | 21.50 | 3,554 |
| SASCO | 79.40 | 342,394 |
| YANSAB | 41.05 | 312,576 |
| SEERA | 22.68 | 1,240,393 |
| HB | 61.40 | 78,406 |
| BACS | 0.12 | 0 |
13/01/2025
Aldar Properties, Abu Dhabi's biggest listed developer, has raised Dh9 billion ($2.45 billion) in a sustainability-linked revolving credit facility from a syndicate of 15 UAE-based and international
The National
12/01/2025
Ooredoo announced on Sunday the appointment of Sheikh Nasser bin Hamad al-Thani as the new chairman of Ooredoo Kuwait.
Most recently, Sheikh Nasser was appointed as Group Regional CEO for th
11/01/2025
One of the fastest-growing logistics businesses in Mena region, GWC has marked "20 years of excellence and innovation", achieved significant milestones and won prestigious awards, solidifying its pos
Gulf Times
11/01/2025
Almarai, the world's largest vertically integrated dairy company and the world's fourth most valuable dairy brand in 2024, has successfully implemented RISE with SAP on Google Cloud. This milestone m
Saudi Gazette
05/01/2025
Elm, a pioneer in digital solutions, enhanced its brand identity, reflecting the company's ambitious and prominent objective. Leveraging comprehensive knowledge, a forward-thinking mindset, and a pro
Financial Information Co.