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TASI sheds 304 points as investors' fears continues pushing the market to 'red'

RIYADH: Saudi Arabia’s benchmark index slipped 304 points on Monday, as investors shied away from the market due to dampening business sentiments, inflationary pressures, and looming uncertainties surrounding the future of the global economy. The Tadawul All Share Index, known as TASI, was down 2.84 percent at 10,419 on Monday, while the parallel market Nomu shed 44 points or ....

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MEPCO factory working to restore full capacity after Jeddah floods hit operation

RIYADH: Jeddah-based Middle East Paper Co. is still working to get a factory fully operational after the fatal floods that hit the city last week prompted a production shutdown. The company revealed the record rainfall which left two people dead in the city caused work to stop in its Al Khumrah plant on Nov. 24. According to a disclosure with the Saudi stock exchange ....

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MEPCO factories operating at 92% capacity despite commodity slump: CEO

RIYADH: Jeddah-based Middle East Paper Co. is operating its plants at rates exceeding 92 percent despite declining commodities demand, according to its CEO Sami Safran. Although markets are witnessing weaker demand for commodities, including paper products, regulations of the domestic market were the reason the firm did not see a significant impact in 2022’s third quarter ....

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Saudi paper manufacturer MEPCO seeks shareholders' approval for 33% capital raise

RIYADH: Jeddah-based Middle East Paper Co. invited its shareholders to vote on increasing its capital to SR666 million ($177 million) in support of the company’s financial position and growth plans. The Saudi-listed paper manufacturer’s board is proposing a 33 percent capital hike from the current capital of SR500 million, according to a bourse filing. Shares of MEPCO opened ....

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Saudi paper manufacturer MEPCO gets CMA node for 33% capital raise to $177m

RIYADH: Jeddah-based Middle East Paper Co. saw its share price rise in early trade, after it received the Capital Market Authority’s approval to increase its capital to SR666 million ($177 million) in support of the company’s financial position and growth plans. MEPCO’s shares gained 3.25 percent to reach SR57.20 at 10:07 a.m. Saudi time. The Saudi-listed paper manufacturer’s ....

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