Al Rajhi News
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Saudi Arabia’s benchmark stock index gained to the highest in three weeks after U.S. stocks climbed as U.S. employment picked up more than forecast. Petrochemical companies and banks led the advance.
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Saudi Arabia’s benchmark stock index snapped a three-day gain as petrochemical companies and banks led declines.
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Saudi Arabian shares slid for the first time in three trading sessions, led by petrochemical companies and banks following U.S. markets after lower-than- expected employment data.
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Al Rajhi Bank, Saudi Arabia’s biggest publicly traded lender, plans to expand into Kuwait and Jordan, Chief Executive Officer Abdullah Al Rajhi said.
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Al Rajhi Bank, the biggest Saudi Arabian lender by market value, posted a 0.6 percent increase in fourth-quarter profit, missing analysts’ estimates.
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Bloomberg Markets’ inaugural list of the world’s richest people showcases the billionaires who pull the levers on the global economy. Their net worth totals $2.7 trillion, about the size of the gross domestic product of France, the fifth-biggest economy on the planet.
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Al Rajhi Bank, the largest Saudi Arabian lender by market value, posted a 3.5 percent decline in third-quarter profit, missing analysts’ estimates, as expenses increased.
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Al Rajhi Bank, the largest Saudi Arabian bank by market value, plans to offer more mortgages next year and step up loans to small and medium enterprises and project finance to diversify its portfolio.
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Saudi Arabian stocks added 0.1 percent to 7,041.58 by the close in Riyadh today, boosted by banks and petrochemical companies.
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Al Rajhi Bank, Saudi Arabia’s largest lender by market value, led others in posting higher third-quarter profit as lending income rose amid higher government spending in the biggest Arab economy.
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