Press Dossier   By Date  26/12/2020
Thursday trading: Stocks snapped a two-day winning streak
Saudi stocks snapped a two-day winning streak on Thursday, with the benchmark Tadawul All Share Index (TASI) slipping 0.2 percent, or 18 points, to close at 8,703 points.
First phase of Saudi Arabia’s idle land program to kick off in Madinah, Aseer: ministry
The Ministry of Housing said Dec. 23 that the first phase of the idle land fees program will start for the land plots located within the geographical scope of Madinah, as well as the two cities of Khamis Mushait and Abha in Aseer, according to a statement cited by Saudi Press Agency.
NCB, Samba working on getting regulatory approvals for merger
National Commercial Bank (NCB) and Samba Financial Group (Samba) are currently working to obtain the relevant regulatory approvals to complete the merger, the banks said in separate bourse filings today, Dec. 24.
Dubai sees surge in bank financing, new fintech firms in 2020
While Dubai’s economy is expected to contract by 6.2 percent in 2020, with the travel and hospitality sectors hit hard by the coronavirus pandemic, the emirate saw a surge in bank financing for the transport, storage and communications sectors, and strong growth in the establishment of new financial technology (fintech) companies licensed to operate.
Saudi riyal added to cross-border payment platform
The Saudi Central Bank and the Arab Monetary Fund (AMF) on Thursday announced that the Saudi riyal has been added as a settlement currency to Buna, a multicurrency payment platform that provides cross-border payment services for the region’s central banks and financial institutions.
11 investors referred to Public Prosecution over suspicious trading
Saudi market regulator, Capital Market Authority (CMA), announced on Dec. 23, referring 11 investors, who are suspected of violating Article (49) of the Capital Market Law and Article (2) of the Market Conduct Regulations, to the public prosecution.
Saudi banks backed by strong mortgage loans amid COVID-19, lower oil prices
Fitch Ratings said in a report that the strong loan growth of 12.7 percent seen in the first ten months of 2020 from the sustained momentum in retail mortgages, combined with an operating environment showing signs of recovery supported Saudi banks’ financial metrics in the face of the repercussions of COVID-19 pandemic and the decline in oil prices.
9 candidates contest election results over violations of law
Nine candidates from the third district have filed a new appeal before the constitutional court contesting the result of the parliamentary elections. These candidates believe many mistakes were made during the polls. Attorney Nawaf Al-Fuzei said there are suspicions about the electoral process, which may lead to dissolving the parliament.
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