National Commercial Bank

Tadawul index slips 1%

Dubai - Arab Today

The Tadawul All Share Index (TASI) slipped 1 percent on Tuesday. Some investors have been worried by the fact that many companies are reporting first-quarter earnings later than usual this year, prompting speculation that they could be preparing to announce negative surprises. However, analysts said they believed the delays were due to Saudi Arabia’s shift to International Financial Reporting StandardsRead more

Gunmen attack NCB in Tripoli, killed policeman

Tripoli - Fatima Saadawi

The Libyan capital Tripoli witnessed, on Tuesday, severe tension following the killing of a policeman and the kidnapping of three other members of rapid intervention forces of the illegal government of reconciliation. The leadership of the militias headed by Abdul Ghani al-Kikli, said in a statement that armed elements follow the so-called "Tira" from the city of Misurata, attacked theRead more

Sarah Al Suhaimi will become first woman to head Saudi bourse

Dubai - Arab Today

NCB Capital Chief Executive Officer Sarah Al Suhaimi will become the first woman to chair Saudi Arabia’s stock exchange, the largest bourse in the Middle East. Al Suhaimi was appointed chairwoman of the Tadawul, replacing Khalid Al Rabiah, the exchange said in a statement on Thursday. She is expected to keep her position at NCB Capital, the investment banking unitRead more

Saudi stocks climb 0.7%

Dubai - Arab Today

The Tadawul All Share Index (TASI) swung 0.7 percent higher on Tuesday with most buy orders executed in the final hour of trade as Brent crude oil futures climbed back over $56 a barrel. Eleven of the 14 listed petrochemical producers advanced with Saudi Basic Industries adding 1.1 percent. Banking shares, which were hard hit on Monday following Riyad Bank’sRead more

Inflationary situation in Kingdom ‘decoupling from global trend’

Jeddah - Arab Today

The inflationary situation in Saudi Arabia is decoupling from the global trend following a series of fiscal consolidation measures, according to economists. After averaging 2.7 percent in 2014 and 2.2 percent in the following year, inflation almost doubled during the first eight months of 2016, averaging around 4 percent, the National Commercial Bank said in a recent report. As theRead more

Tadawul rebounds, outperforms rest of Gulf markets

Jeddah - Arab Today

Saudi stocks rebounded on Tuesday as oil prices hit a one-month high, outperforming other stock markets in the Gulf where traders booked profits. Saudi Arabia’s Tadawul All-Share Index rose 1.6 percent to 6,602 points, heading back toward technical resistance at the July peak of 6,703 points. The index has now gained 13.9 percent over the past four weeks, despite slightRead more

Saudi market ‘reacting positively to liquidity injection measures’

Jeddah - Arab Today

The Saudi government’s recent “monetary stimulus” measures are expected to fuel broader economic activity in the Kingdom, according to analysts. They were commenting on reports that Saudi money market rates appeared to be returning to more normal levels. Analysts believe that Saudi Arabia's stock market index could also get a boost from news that the government has made a majorRead more

Bank loans to KSA public sector reach SR1.43 tr

Jeddah - Arab Today

The credit situation in Saudi banks is still on the rise despite the strain on liquidity in the financial system. In the month of August, total bank credit posted an annualized 7.9 percent, maintaining growth momentum despite the deceleration, the National Commercial Bank (NCB) said in its latest report. In 2015, total credit growth averaged 9 percent Y/Y, contrasting withRead more

Tadawul: Bank shares gain 28% in past 30 days

Jeddah - Arab Today

Saudi Arabia’s stock market edged down Thursday in modest volumes. Tadawul All-Share Index fell 0.3 percent to 6,629 points, stalling near technical resistance at the July peak of 6,703 points. Volume was the lowest in a week. Some banks fell as investors booked profits; National Commercial Bank dropped 0.5 percent to SR41, and is now roughly at par to theRead more

Tadawul rebounds as 95% of shares climb

Jeddah - Arab Today

Saudi Arabia’s Tadawul All-Share Index rebounded 2.4 percent to 6,648 points Wednesday, 55 points below technical resistance on its July peak. Ninety-five percent of traded shares advanced. All but one petrochemical producer rose with Saudi Basic Industries Corp. (SABIC) adding 2.1 percent as Brent oil futures traded over $46 a barrel. Banking shares, which lost their footing over the lastRead more