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Saturday, Oct 01, 2022
World's Arab Press Reports
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Hail Cement’s share decline after it swings to loss of $4m in H1
Saudi Arabia’s Hail Cement Co.’s share plunged on Tuesday’s closing bell, after reporting losses of SR14 million ($4 million) in the first half of 2022 despite witnessing a growth in sales.
Shares in Hail Cement closed 2.62 percent below its Monday closing price to reach SR13.4.
The Hail-based firm saw its share price reaching SR39.55 at the closing of Tuesday’s session.
The cement producer had made profits of SR41 million in the same period last year, a bourse filing showed.
Despite incurring losses, the company’s revenue went up by 12 percent to SR165 million year-on-year.
Hail Cement attributed the poor performance to lower average selling prices and higher sales costs.
Turkish trade deficit jumps 160% in August
Turkey's foreign trade deficit surged 159.9% year-on-year to $11.19 billion in August, with imports surging 40.4%, data from the Turkish Statistical Institute showed on Friday.
Women's rights group calls on FIFA to kick Iran out of World Cup
Rights group Open Stadiums have called on FIFA to throw Iran out of the World Cup finals in Qatar in November because of the country's treatment of women.
Amnesty adviser denied entry to Denmark game wearing Qatar protest scarf
An Amnesty International adviser was prevented from taking a scarf drawing attention to Qatar's treatment of migrant workers into Denmark's game against France on Sunday despite...
Saudi wealth fund's Savvy Games Group to invest $37.8 billion
Saudi Arabia's Savvy Games Group, owned by sovereign wealth fund PIF, will invest 142 billion riyals ($37.8 billion) in initiatives aimed at making the kingdom a global hub for ...
Saudi unemployment falls to 9.7% in Q2
Unemployment in Saudi Arabia among citizens fell to 9.7% in the second quarter of 2022, reflecting a downward trend in joblessness among Saudis that is a key objective of the cr...
Turkey's state banks suspend use of Russian Mir payment system -finance minister
Turkey's three state banks have suspended the use of the Russian Mir payment system, Finance Minister Nureddin Nebati told Reuters on Thursday.
OPEC+ has begun talks on output cut at Oct. 5 meeting - OPEC source
Leading OPEC+ members have begun discussions about an oil output cut at the group's next meeting on Oct. 5, three sources told Reuters.
Europe makes sharp U-turn from green energy - Qatar energy minister
QatarEnergy CEO and state minister for energy Saad al-Kaabi said on Thursday that skyrocketing energy prices are "weighing painfully" on the global economy, dampening support fo...
Turkey to re-inforce military presence in northern Cyprus -Erdogan
Turkey will re-inforce its military presence in northern Cyprus after the United States lifted defence trade restrictions on Cyprus, Turkish President Tayyip Erdogan said on Wed...
Oil settles lower after hitting $90/bbl as OPEC+ considers output cut
Oil prices settled lower on Thursday in choppy trading, rising above $90 per barrel and then retreating as traders weighed a worsening economic outlook against potential OPEC+ o...
Iran protests over young woman's death continue, 83 said killed
Protests continued in several cities across Iran on Thursday against the death of young woman in police custody, state and social media reported, as a human rights group said at...
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