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Friday, Oct 07, 2022
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Kingdom Holding shares climb on massive first-half profit surge to $1.7bn
Shares of Saudi conglomerate Kingdom Holding Co. gained nearly 2 percent in Thursday trading after the company announced a massive profit jump for the first half of 2022.
Riyadh-based KHC saw its first-half profit skyrocket by 1,162 percent to SR6.35 billion ($1.7 billion), from SR503 million in the same period last year.
Its revenue more than doubled to SR1.2 billion during the same period, thanks to higher hotel and property sales, according to a bourse filing.
This led to a 1.87 percent jump in the firm's share price to reach SR9.28 at the closing bell.
Among the major highlights in the first half, KHC closed an SR12.8 billion multisector investment program, following the sale of shares to the Saudi sovereign wealth fund.
Saudi billionaire Prince Alwaleed bin Talal sold part of his stake in KHC to the Public Investment Fund in a $1.5 billion deal, reducing his interest to 78.13 percent.
Saudi woman criminology graduate trains with US police
A Saudi criminology graduate who spent a year training with the Indiana State Police in the US plans to use her expertise to tackle perpetrators in the country.
Red Sea Film Festival audiences get rare chance to see classic Egyptian musicals on big screen
Movie lovers can look forward to screenings of restored versions two classics of Egyptian musical cinema during the second Red Sea International Film Festival in Jeddah in Decem...
KSRelief donates aid, medical services to Lebanon, Sudan, Bangladesh, Yemen
Saudi Arabia’s King Salman Humanitarian Aid and Relief Center (KSRelief) continued its relief efforts in Lebanon, Sudan, Bangladesh and Yemen this week.
Saudi Arabia’s Qassim launches breast cancer awareness campaign
Al-Qassim Health Cluster launched a breast cancer awareness campaign, “Qassim is Rosary,” on Wednesday as part of international Breast Cancer Awareness Month in October.
Saudi Red Crescent Authority courses benefit 113,000
The Saudi Red Crescent Authority has successfully organized 918 training courses and awareness lectures across the Kingdom, benefitting more than 113,000 people this year.
TLScontact new service provider in Saudi Arabia for Schengen visas to Germany
Starting from this month, applications for Schengen visas to Germany can only be lodged with the new service provider TLScontact, according to the German Embassy in Riyadh.
Al-Sheikh leads Saudi delegation to G20 Parliamentary Speakers’ Summit
A delegation from the Kingdom of Saudi Arabia, headed by speaker of the Shoura Council Sheikh Dr. Abdullah bin Muhammad bin Ibrahim Al-Asheikh, participated at the eighth G20 Pa...
Global Health Exhibition starts in Riyadh Sunday
Thousands of medical professionals and industry leaders are heading to Riyadh for this year’s Global Health Exhibition.
Praise, gifts and gratitude as Saudi Arabia celebrates World Teachers’ Day
Saudi Arabia’s Ministry of Education is marking World Teachers’ Day, which falls on Oct. 5 each year, with three days of celebrations under the theme “The transformation of educ...
Saudi national resort for elderly in Al-Baha completed
The Saudi-based Charitable Society for Honoring the Elderly (Ikram) recently announced the completion of the Ikram National Resort project in Al-Baha (southwest of Saudi Arabia)...
Saudi Arabia’s Al-Baha to double Shadawi coffee production
Al-Baha plans to double its production of its famous Shadawi coffee beans, a move that would create jobs and income for the region.
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