Commodity Prices

Brent Oil
64.18
Barrel
Crude Oil
57.09
Barrel
Gold
1,416.34
Ounce
Platinum
854.75
Ounce
Silver
16.33
Ounce
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Prayers

Dhuhr
12:29
Wednesday
24
July 2019

Fajr
Fajr
04:13
Sunrise
Sunrise
05:43
Dhuhr
Dhuhr
12:29
Asr
Asr
15:53
Maghrib
Maghrib
19:14
Isha
Isha
20:44
Markets

2,832.53 2.08%
Volume
273,671,030
Turnover
2.08%
Trades
4,148
21
Up
6
Flat
7
Down
Traded stocks 34
5,343.86 0.85%
Volume
106,890,373
Turnover
0.85%
Trades
2,814
12
Up
6
Flat
8
Down
Traded stocks 26
Most active
IHC
1.8
Aldar Properties
2.31
Al Salam
0.49
Air Arabia
1.12
Taqa
0.74
Methaq
0.64
Sudatel
0.38
Ekttitab
0.19
ADCB
8.95
Emaar
5.15
DIB
5.25
Aldar Properties
2.31
UPP
0.36
Aldar Properties
2.31
DXB Entertainments
0.21
Air Arabia
1.12

Saudi Gazette


23/07/2019

More than 60 killed, hundreds of thousands displaced by flooding in Bangladesh

DHAKA — Severe flooding has killed at least 61 people, displaced nearly 800,000 and inundated thousands of homes across a third of Bangladesh, government officials said on Tuesday, after two weeks of heavy monsoon rains.Nearly 3 million people are struggling with flooding, the worst in two years, according to the disaster management and relief ministry.As water levels began to recede, authorities expressed concern about outbreaks of infectious diseases in the country of more than 160 million."With the receding flood waters across the country, there is a possibility of outbreaks of water-borne diseases," Shah Kamal, secretary of the disaster management and...
23/07/2019

Oil slips as global demand forecasts fall

HOUSTON — Oil edged down, with Brent at around $63 a barrel on Tuesday under pressure from weaker global demand forecasts and the full restart of Libya's largest oil field despite continuing supply worries stemming from Iran's capture of a British oil tanker.Libya's Sharara oil field returned to normal production on Tuesday, pressuring prices that rallied a day earlier on fears the tanker capture could disrupt supplies in the heavily trafficked Strait of Hormuz.Brent crude fell 22 cents to $63.04 a barrel by 10:29 a.m. CDT (1529 GMT). US West Texas Intermediate crude was down 17 cents at $56.05."The situation...
23/07/2019

Saudi construction market investments hit $63.5bn in Q2

DUBAI — Saudi Arabia is the first largest construction market in the GCC with total investments of $63.5 billion in the second quarter of 2019, according to a recent report by BNC Construction Intelligence.During the first six months of 2019, project owners in GCC nations have also awarded new construction contracts worth $49 billion, a 33% jump compared to the corresponding period in 2018.“Countries of the GCC region also witnessed the completion of $88.5 billion (AED324.8 billion) worth of construction projects in the first half of 2019, as the construction sector in the GCC remains robust,” BNC noted.BNC, the largest...

23/07/2019

Sri Lanka orders return of smuggled British garbage

COLOMBO — Sri Lanka customs on Tuesday ordered the return of container loads of hazardous mortuary and clinical waste illegally imported into the island from Britain under the cover of metal recycling.Customs officials said the racket dating back to 2017 was uncovered after the Colombo port complained last week that an importer had abandoned 111 containers which were emanating a huge stink.A total of 241 containers had been imported since 2017 and 130 of them had been taken to a free-trade zone ostensibly for recycling and re-export, customs spokesman Sunil Jayaratne said."We are taking immediate action to order the re-export...
23/07/2019

China tells US to remove 'black hands' from Hong Kong

BEIJING — China said on Tuesday that US officials were behind violent chaos in Hong Kong and warned against interference, following a series of protests in the city, including bloody clashes on the weekend."We can see that US officials are even behind such incidents," said Chinese Foreign Ministry spokeswoman Hua Chunying at a regular press briefing on Tuesday.She was referring to violence related to weeks of protests spearheaded by pro-democracy activists against a bill that would allow people to be extradited from the city to stand trial in courts in mainland China."So can the officials tell the world what role...
23/07/2019

TRSDC awards village construction project

JEDDAH — The Red Sea Development Company (TRSDC), the developer behind one of the world’s most ambitious tourism projects, has awarded a contract for the construction of a residential village for workers at the destination.After a competitive tender, the contract was awarded in two parts to an ARCCO-Speedhouse joint venture based in the UAE and to Saudi company Al Majal Al Arabi Group. Each will construct 5,000 units over the next ten months to house the initial 10,000 construction workers working on the site.A further 25,000 construction workers will be housed in the upcoming Coastal Village, which will be awarded...

23/07/2019

IMF raises Saudi economic growth forecast to 1.9% this year

DUBAI — The International Monetary Fund on Tuesday raised its forecast for Saudi economic growth this year by 0.1 percentage points to 1.9 percent, and to 3.0 percent in 2020.In its World Economic Outlook update, the global lender attributed the boost to the development of the kingdom's non-oil-related sectors.However, IMF slashed its economic growth forecast for the Middle East and North Africa to the worst level in more than a decade over Iran sanctions and regional unrest.It projected economic growth for the Middle East, North Africa, Afghanistan and Pakistan this year would be 1.0 percent, its worst since the IMF...
23/07/2019

Dollar rises to 5-week peak on debt, spending deal

NEW YORK — The dollar on Tuesday rose to near a five-week high against a basket of currencies after President Donald Trump and US lawmakers reached a two-year deal that raises the limits on government borrowing to cover spending. The agreement averted another partial government shutdown. A 35-day shutdown between December and January led to a furlough of 800,000 federal workers and cost the economy about $3 billion. As a result of this deal, the US Treasury can ramp its short-term borrowing to rebuild a cash pile that has fallen to about $195 billion from $423 billion in late April,...
23/07/2019

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23/07/2019

Singapore makes its biggest ever illegal ivory seizure

SINGAPORE — Singapore has made its largest ever seizure of smuggled ivory, impounding a haul of nearly nine tonnes of contraband tusks from an estimated 300 elephants, authorities said on Tuesday.The illegal cargo, discovered Sunday in a container from the Democratic Republic of the Congo being shipped to Vietnam via Singapore, also included a huge stash of pangolin scales — the third such seizure in as many months.Officials said both the ivory and pangolin scales were in a container declared to be loaded with timber destined for Vietnam and passing through Singapore, a major transhipment hub for global trade.On inspection,...
23/07/2019

Saudi economic reforms bode well for co-working space market

By Rabih El Chaar* and Mohammed A. Alariefy**AS Saudi Arabia’s economy changes, demand is growing for modern workspaces that are flexible and affordable. These kinds of spaces are called “co-working spaces,” locations where freelancers, entrepreneurs, small and medium-sized enterprises (SMEs) can share offices and services. Increasing the provision of co-working spaces in Saudi Arabia presents a major opportunity for investors to convert some of the kingdom’s available commercial properties into environments in which entrepreneurs and companies of all sizes can thrive.Although there is considerable interest in Saudi Arabia for co-working spaces, their availability is limited. This is in contrast to...
23/07/2019

DP World posts 1.6% gross volume growth in 2Q 2019

DUBAI — DP World PLC handled 35.8 million TEU (Twenty-Foot Equivalent Units) across its global portfolio of container terminals in the first half of 2019, with gross container volumes growing by 0.5% year-on-year on a reported basis and 0.5% on a like-for-like basis.Strong performance across Asia Pacific, Indian Subcontinent and Africa drove growth in 2Q2019, but weaker volumes in the UAE and Australia offset this trend.At a consolidated level, our terminals handled 19.5 million TEU during the first half of 2019. Consolidated volumes in 2Q2019 grew by 10.6% on a reported basis but down 0.6% on a like-for-like basis. The...