Endorsed by Saudi Cloud Computing Association, World Cloud Show is gearing up to virtually connect the most influential voices in the Saudi's cloud space this March. Notable speakers include the likes
Top 10 Saudi Banks Show Bullish Recovery in Profitability albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
Dubai: The profitability outlook for Saudi banks showed signs of improvement as increased operating income and reduced provisioning supported return ratios, said an analysis of third quarter results by professional services firm Alvarez & Marsal (A&M).
“While we have witnessed an overall improvement in profitability this quarter, the near-term outlook for Saudi banks looks bearish,” said Asad Ahmed, A&M Managing Director and Head of Middle East Financial Services.
“The Saudi government’s announcement to cut budget spending by 7.5 per cent in 2021 could have a spill-over effect in other sections of economy.”
Balance sheet growth
Saudi Arabia’s top 10 banks reported an increase in loans and advances which grew at a faster pace in Q3 2020 (3 per cent quarter on quarter, compared to 1.9 per cent in the previous quarter.
A year after pandemic cleared out offices, WeWork is back
WeWork leases buildings and divides them into office spaces to sublet to members, which include small businesses, start-ups and freelancers who want to avoid laying out funds for permanent office space
Updated 27 March 2021
March 27, 2021 02:24
LONDON: After a year in which a global pandemic turned offices across the world into ghost towns WeWork, the embattled communal office-space company, is making a second attempt at going public.
The announcement Friday comes almost two years after WeWork’s first attempt at becoming a publicly traded company blew up in spectacular fashion, its founder and CEO ousted abruptly.
Total turnover reached SR13.6 billion ($3.62 billion), with advance-decline ratio at 89:95.
The index recorded its highest point today at 8,766 points since July 2019, before rebounding and closing at the level mentioned above.
SAPTCO rose by more than 5 percent to close at SR18.16, amid heavy trading on the share, amounting to about 12 million, the highest in about six years.
Taiba rose by 1 percent to close at SR30.50, after the company announced cash dividends to shareholders.
Shares of Advanced, Baazeem and Thob Al-Aseel recorded the highest close since their listing on the market.
With regard to REIT funds, AlJazira REIT Fund rose 4 percent to close at SR23.02, amid trading of 4.3 million units.