RIYADH: Maharah Human Resources Co. has secured SR363 million ($97 million) financing from Saudi banks, following the completion of an acquisition of Saudi Medical Systems. The long-term loans, worth SR181.5 million and SR181 million, respectively, were obtained from Al Rajhi Bank and Saudi British Bank, Maharah said in a filing to the Saudi Exchange. “The purpose of the loans
RIYADH: Saudi Arabia’s benchmark index opened the week lower following fluctuations in oil prices over the past week and higher inflation, dampening investor confidence. TASI started the week 0.2 percent lower at 12,621, while the parallel Nomu started 0.19 percent higher at 21,574, as of 10:05 a.m. Saudi time. In the energy market, Brent crude reached $96.72 a barrel last
RIYADH: The Growth Avenue Investment Co., a unit of Maharah Human Resources Co., closed a deal to acquire 40 percent of the Saudi Medical Systems Co. Established in 1996, Riyadh-based Saudi Medical Systems specializes in providing catering services to hospitals. The two parties completed the due diligence process and signed a sales and purchase agreement on Apr. 22, Maharah
RIYADH: Saudi stocks closed lower Monday as battles raged between Russia and Ukraine with no progress in ceasefire talks, driving up oil prices and shaking the global economy. TASI slipped 0.34 percent to end the day at 12,831, and the parallel market, Nomu, shed 0.5 percent to 24,665. Stock exchanges in Abu Dhabi, Oman, and Kuwait edged down in line with global stock markets.