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06/04/2014 08:56 AST
Arabia Insurance Cooperative Co. (AICC) has paid SR201 million in damages claimed by Zahid Tractor & Heavy Machinery Co. following a gas truck explosion in 2012, local media said.
Some 26 people were reported killed and 111 injured after a fuel truck crashed into a concrete flyover and exploded in eastern Riyadh on Nov. 1, 2012, where the buildings of Zahid Tractor were located.
In a statement posted on the Saudi stock exchange (Tadawul), AICC said the payment of the claim would not materially affect the company's financial position as the losses emerging from the incident are re-insured by 99.51 percent at a re-insurance company.
Meanwhile, Zahid Tractor said the financial impact of the claim is expected to appear on the financial statements of the company from the first quarter of the current year.
Arab News
25/02/2013
Arabia Insurance Cooperative Company - AICC announces the financial results for the year ended 31/12/2012 as follows:
1.The net loss is SR 2,859 thousand riyals, before Zakat and income
Tadawul
21/01/2013
ARABIA INSURANCE COOPERATIVE COMPANY (AICC) ANNOUNCES PRELIMINARY FINANCIAL RESULTS FOR THE PERIOD ENDED ON 31/12/2012 (TWELVE MONTHS).
1.The net loss before Tax and Zakat for the fourth q
Tadawul
| Ticker | Price | Volume |
|---|---|---|
| RIBL | 29.65 | 2,130,721 |
| ALDREES | 141.40 | 522,113 |
| EIC.ADX | 7.95 | 0 |
| ALBABTAIN | 44.20 | 361,872 |
| GULFUNIONALAHLIA | 17.40 | 234,780 |
| MUTAKAMELA | 19.42 | 2,022,103 |
| MIDAN | 757.00 | 0 |
| Ticker | Price | Change |
|---|---|---|
| BUPAARABIA | 189.00 | -1.00 (-0.53 |
| TAWUNIYA | 156.80 | 1.00 (0.64 |
| ALRAJHITAKAFUL | 175.20 | 1.40 (0.80 |
| QATI | 2.16 | -0.01 (-0.37 |
| RASAN | 92.40 | 0.90 (0.98 |
06/02/2025
Saudi utility giant ACWA Power has signed two agreements with Aramco to accelerate the deployment of renewable energy projects and evaluate the performance of vanadium flow batteries in the Kingdom's
Arab News
05/02/2025
Al Rajhi Bank, a pioneer in innovative banking solutions in Saudi Arabia, has announced a strategic partnership with RATL Technology, the owner of Muhide fintech platform, to digitally empower and fi
Saudi Gazette
14/09/2024
RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <
Saudi Gazette
12/09/2024
Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces
Arab News
04/05/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
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