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Tuesday, Sep 27, 2022
World's Arab Press Reports
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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.
British PM Truss thanks Crown Prince for key role in release of prisoners
Crown Prince Mohammed bin Salman, deputy premier and minister of defense, received on Monday a phone call from British Prime Minister Liz Truss.
51 Relaxing Poolside Sitting Areas To Daydream About
Relaxing poolside sitting areas, featuring luxurious outdoor living spaces, conversation pits, outdoor dining rooms, outdoor lounge furniture & modern gardens.
HRC president meets German ambassador
The President of the Human Rights Commission Dr. Hala Al-Tuwaijri received on Monday German Ambassador to Saudi Arabia Dieter Lamle.
WhatsApp Testing Group Call For Up To 32 People
The new feature is expected to increase the competition among the video calling and conferencing apps.
Per capita GDP surges to its highest level in years: GASTAT
The General Authority for Statistics (GASTAT) has announced on Monday that the per capita gross domestic product (GDP) rose during the second quarter of 2022 to its highest leve...
Why ‘digital literacy’ is now a workplace non-negotiable
Digital skills once meant having a basic grasp of computers. Now, it means being able to work adaptably and strategically across tools, devices and platforms.
KAUST selects HPE to build Middle East’s most powerful supercomputer
Hewlett Packard Enterprise (HPE) announced that King Abdullah University of Science and Technology (KAUST) has selected HPE to build its next-generation supercomputer, Shaheen I...
Canadian High school defends transgender teacher with large prosthetic breasts
The Canadian high school teacher has sparked controversy after pictures emerged of her wearing large breast prosthetics while teaching students. Kayla Lemieux, a Manufacturin...
New COVID-19 cases in Saudi Arabia jumps above 100-mark
New COVID-19 cases in Saudi Arabia went above the 100-mark on Monday with 161 new infections recorded over the past 24 hours.
Elon Musk faces skepticism as Tesla plans to deploy humanoid robots
Tesla is getting ready to unveil thousands of humanoid robots, aka Tesla Bot or Optimus, within its factories
Al-Ahsa street to be named after traffic official died in accident
Prince Ahmed bin Fahd, deputy emir of the Eastern Province, has directed the mayoralty of Al-Ahsa governorate to name a street in the governorate after the martyr Deputy Sergean...
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