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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 |
|---|
| Ticker | Price | Change |
|---|---|---|
| BUPAARABIA | 167.60 | 0.60 (0.35 |
| TAWUNIYA | 136.60 | -1.00 (-0.73 |
| ALRAJHITAKAFUL | 134.40 | 2.40 (1.81 |
| RASAN | 83.80 | 0.00 (0.00 |
| QATI | 1.89 | 0.02 (1.06 |
26/04/2025
Adnoc Distribution, a leading fuel distributor and convenience store operator, has unveiled plans for a major expansion of its electric vehicle (EV) charging infrastructure, increasing its charging p
Trade Arabia
25/04/2025
Saudi Awwal Bank (SAB), one of the leading banks in Saudi Arabia, has signed SR2 billion credit facility agreement with the Saudi Binladin Group, a subsidiary of Binladin International Holding Group,
Saudi Gazette
24/04/2025
The Dubai-based logistics firm Aramex has confirmed a new acting CEO after Othman AlJeda, the incumbent, resigned for personal reasons.
The change at the top comes just weeks after Abu Dhabi
Gulfnews
24/04/2025
The leading UAE banks have put up some sizable growth in their Q1-2025 results, with ADIB's net profit before tax totalling Dh1.9 billion - and that's from an impressive 18% gain year-on-year.
Gulfnews
24/04/2025
Salalah Port has received five modern dual-fuel methanol-powered container vessels from Maersk's fleet, marking a significant milestone in the port's infrastructure development and readiness to accom
Times of Oman
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