CHAT l English / Arabic

HiJazzey · March 15th, 2006, 01:59 PM

In an effort to revive this forum, and also in the process keeping up with joneses

, I bring you... the sky Bashka!

You know the score. This an area for general discussion on topical matters of the day etc...

Please keep it friendly.

Enjoy.

HiJazzey · March 15th, 2006, 02:17 PM

The topic of the moment: stock market crash

You can't have escaped this, the topic everyone is talking about. Our stock market correction has for all intents and purposes turned into a crash. The only thing that's keeping the drop orderly is the market fluctuation limit imposed by the CMA.

It was bound to happen. Stocks were highly overvalued and growth stimulated by high liquidity than economic fundamentals.
We urgently need more avenues for investment. We need something more substantive than real estate and stock market trading. We need to see that money go into project financing and grow our economy. VCs are an option.

***Skoulikimou*** · March 15th, 2006, 03:54 PM

this thread deserve sticky

***Saudi guy*** · March 15th, 2006, 05:07 PM

all people were victums in these misfortune....that because some hateful rich men..

Riyadhi · March 16th, 2006, 08:26 AM

LOL @ Bashka

I like that, we should also have sheesha over here.

Riyadhi · March 16th, 2006, 08:29 AM

Regarding the stock market, I think it is finally back on its feet. Thanks to the King and Prince AlWaleed and Shiek Suliman Al Rajhi

HiJazzey · March 16th, 2006, 01:58 PM

Hi Riyadhi,

Yes there was a small rebound yesterday. Share splitting and allowing foreigners to buy shares are good steps by the government. As for commitments to invest in the stock market by al-Waleed and al-Rajhi, they have helped restore investor sentiment and stop panic selling, but it's not going to solve long term problems.

As for the whole "hawamir" issue, I think investors have themselves to blame more than anything else. This correction is righting the overvaluations the speculators themselves created. Had they based their investment decisions on economic valuations of stock rather than blind trading based on rumour and hearsay, then the situation today wouldn't be as bad. They've turned the stock market into a 7araj.

HiJazzey · March 16th, 2006, 02:05 PM

Quote:

Originally Posted by Riyadhi

LOL @ Bashka

I like that, we should also have sheesha over here.

Yes, but only the proper sheesha with jurak

None of that pansy mo3assil

Riyadhi · March 17th, 2006, 03:45 PM

LOL I'm not surprised man. All of my Jeddawi friends smoke the Jurak thing and make fun of those who smoke the m3assil saying that it is for girls

Did you have any stocks in your portfolio during the dip?

huit · March 17th, 2006, 07:35 PM

What's Bashka?

Riyadhi · March 18th, 2006, 11:04 AM

My bashka is the group of friends I hang out with. The Jeddawi guys can elaborate on that.

***Saudi guy*** · March 22nd, 2006, 07:32 PM

what the subject we will talk about?? i guess car accident what you think?

Riyadhi · March 29th, 2006, 10:11 PM

Never been to any yet,,, thank god

***Saudi guy*** · March 31st, 2006, 11:50 AM

hey riyadhi where all Members ??? saudi forums was died sinc one week ago

Riyadhi · March 31st, 2006, 02:41 PM

haha, I know they all disapread!

We should hire new members :p

HiJazzey · March 31st, 2006, 02:47 PM

Hi guys,

I've been away on a business trip the last fortnight. How are you all?

Riyadhi,

No I don't, the money that I marked aside to invest in the stock market is still sitting in my bank account. Lucky for me I'm a lazy guy

!

Huit,

Bashka is a regular meet up with friends.

Riyadhi · April 1st, 2006, 08:33 AM

Introducing the new largest bank in the Middle East,

Cabinet OKs Launch of Mega Bank - KSA

Arab News - 28/03/2006

JEDDAH, 28 March 2006 — The Council of Ministers yesterday approved the launch of a new bank with a capital of SR15 billion. The bank, named Inmaa, will sell 70 percent of its shares in an initial public offering (IPO) this year.

According to Finance Minister Ibrahim Al-Assaf, Inmaa will carry out both banking and investment activities. State-owned Public Investment Fund, Pension Fund and the General Organization for Social Insurance will have a 30-percent stake in the bank, with each holding 10 percent of its shares.

The council, which was chaired by Custodian of the Two Holy Mosques King Abdullah, gave instructions to complete the formalities for establishing the bank and for launching the IPO before the end of this year, the Saudi Press Agency reported, quoting Culture and Information Minister Iyad Madani.

The Cabinet took another important decision to boost the stock market as it reduced the share value of joint stock companies from SR50 to SR10. "This change will apply to all joint stock companies that have received licenses," Madani said.

Al-Assaf said King Abdullah reduced the stake of state-owned funds in the new bank in order to allow citizens to have more shares in the bank.

"The government licensed the new bank considering the growing demand for such banking operations as equity participation, cost-plus financing and lease finance," Al-Assaf said.

At present there are 11 commercial banks in the Kingdom. They are: National Commercial, Riyad, Samba, Al-Rajhi, Saudi-British, Saudi Fransi, Arab National, AlJazira, Saudi Hollandi, Albilad and Saudi Investment. The government has also licensed 10 foreign banks including BNP Paribas, J.P. Morgan, Deutsche Bank, the National Bank of Kuwait, the National Bank of Bahrain, Emirates Bank, Gulf International Bank, State Bank of India and National Bank of Pakistan.

The consolidated balance sheet of Saudi commercial banks last year showed an overall increase of 1.7 percent of total assets as they rose from SR735 billion ($196 billion) in October to SR748 billion ($199 billion) in November. Total deposits with SAMA remained unchanged for October and November at SR23 billion ($6 billion). The banks' total deposits jumped from SR469 billion ($125 billion) in October to SR477 billion ($127 billion) in November.

The Cabinet meeting also endorsed the rules and regulations related to e-government dealings, Madani said. The new regulations insist that every government department classify its information and data in accordance with specific standards, save its documents electronically, document its administrative procedures accurately and use e-mails and other electronic means for carrying out its activities, he said.

Earlier, Foreign Minister Prince Saud Al-Faisal briefed the Cabinet on the Arab summit, which opens in Khartoum today. The Cabinet hoped that the Khartoum summit would take steps to implement the resolutions taken in the previous summits including measures to improve the working of the Arab League.

*UofT* · April 1st, 2006, 11:24 PM

This is a Saudi Sky bar?,

Well

Lets Talk about AL BAIK, anybody hungry?

Towers · April 2nd, 2006, 01:06 AM

^ you were watching porn and the girls never showed up lol

*UofT* · April 2nd, 2006, 01:58 AM

Quote:

Originally Posted by Towers

^ you were watching porn and the girls never showed up lol

That too might be an interesting topic in the Saudi Sky Bar

March 15th, 2006, 01:59 PM	#1
HiJazzey Come on! Join Date: Jun 2003 Posts: 717 Likes (Received): 2	CHAT l English / Arabic In an effort to revive this forum, and also in the process keeping up with joneses , I bring you... the sky Bashka! You know the score. This an area for general discussion on topical matters of the day etc... Please keep it friendly. Enjoy.

March 15th, 2006, 03:54 PM	#3
*Skoulikimou* Brief State of Euphoria Join Date: Aug 2004 Location: Kuwait City Posts: 4,149 Likes (Received): 2	this thread deserve sticky __________________ The whole problem with the world is that fools and fanatics are always so certain of themselves but wiser people so full of doubts.. Bertrand Russell (1872 - 1970)

March 15th, 2006, 05:07 PM	#4
*Saudi guy* Moderator Join Date: Sep 2005 Location: Tampa,Fl Posts: 4,714 Likes (Received): 62	all people were victums in these misfortune....that because some hateful rich men.. __________________ Jeddah Disaster 25/11/2009 - We will not forget flood victims

March 22nd, 2006, 07:32 PM	#12
*Saudi guy* Moderator Join Date: Sep 2005 Location: Tampa,Fl Posts: 4,714 Likes (Received): 62	what the subject we will talk about?? i guess car accident what you think? __________________ Jeddah Disaster 25/11/2009 - We will not forget flood victims

March 31st, 2006, 11:50 AM	#14
*Saudi guy* Moderator Join Date: Sep 2005 Location: Tampa,Fl Posts: 4,714 Likes (Received): 62	hey riyadhi where all Members ??? saudi forums was died sinc one week ago __________________ Jeddah Disaster 25/11/2009 - We will not forget flood victims

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March 15th, 2006, 02:17 PM	#2
HiJazzey Come on! Join Date: Jun 2003 Posts: 717 Likes (Received): 2	The topic of the moment: stock market crash You can't have escaped this, the topic everyone is talking about. Our stock market correction has for all intents and purposes turned into a crash. The only thing that's keeping the drop orderly is the market fluctuation limit imposed by the CMA. It was bound to happen. Stocks were highly overvalued and growth stimulated by high liquidity than economic fundamentals. We urgently need more avenues for investment. We need something more substantive than real estate and stock market trading. We need to see that money go into project financing and grow our economy. VCs are an option.

March 16th, 2006, 08:26 AM	#5
Riyadhi Registered User Join Date: Nov 2005 Posts: 1,982 Likes (Received): 0	LOL @ Bashka I like that, we should also have sheesha over here.

March 16th, 2006, 08:29 AM	#6
Riyadhi Registered User Join Date: Nov 2005 Posts: 1,982 Likes (Received): 0	Regarding the stock market, I think it is finally back on its feet. Thanks to the King and Prince AlWaleed and Shiek Suliman Al Rajhi

March 16th, 2006, 01:58 PM	#7
HiJazzey Come on! Join Date: Jun 2003 Posts: 717 Likes (Received): 2	Hi Riyadhi, Yes there was a small rebound yesterday. Share splitting and allowing foreigners to buy shares are good steps by the government. As for commitments to invest in the stock market by al-Waleed and al-Rajhi, they have helped restore investor sentiment and stop panic selling, but it's not going to solve long term problems. As for the whole "hawamir" issue, I think investors have themselves to blame more than anything else. This correction is righting the overvaluations the speculators themselves created. Had they based their investment decisions on economic valuations of stock rather than blind trading based on rumour and hearsay, then the situation today wouldn't be as bad. They've turned the stock market into a 7araj.

March 17th, 2006, 03:45 PM	#9
Riyadhi Registered User Join Date: Nov 2005 Posts: 1,982 Likes (Received): 0	LOL I'm not surprised man. All of my Jeddawi friends smoke the Jurak thing and make fun of those who smoke the m3assil saying that it is for girls Did you have any stocks in your portfolio during the dip?

March 17th, 2006, 07:35 PM	#10
huit Registered User Join Date: Oct 2004 Posts: 1,389 Likes (Received): 39	What's Bashka?

March 18th, 2006, 11:04 AM	#11
Riyadhi Registered User Join Date: Nov 2005 Posts: 1,982 Likes (Received): 0	My bashka is the group of friends I hang out with. The Jeddawi guys can elaborate on that.

March 29th, 2006, 10:11 PM	#13
Riyadhi Registered User Join Date: Nov 2005 Posts: 1,982 Likes (Received): 0	Never been to any yet,,, thank god

March 31st, 2006, 02:41 PM	#15
Riyadhi Registered User Join Date: Nov 2005 Posts: 1,982 Likes (Received): 0	haha, I know they all disapread! We should hire new members :p

March 31st, 2006, 02:47 PM	#16
HiJazzey Come on! Join Date: Jun 2003 Posts: 717 Likes (Received): 2	Hi guys, I've been away on a business trip the last fortnight. How are you all? Riyadhi, No I don't, the money that I marked aside to invest in the stock market is still sitting in my bank account. Lucky for me I'm a lazy guy ! Huit, Bashka is a regular meet up with friends.

April 1st, 2006, 08:33 AM	#17
Riyadhi Registered User Join Date: Nov 2005 Posts: 1,982 Likes (Received): 0	Introducing the new largest bank in the Middle East, Cabinet OKs Launch of Mega Bank - KSA Arab News - 28/03/2006 JEDDAH, 28 March 2006 — The Council of Ministers yesterday approved the launch of a new bank with a capital of SR15 billion. The bank, named Inmaa, will sell 70 percent of its shares in an initial public offering (IPO) this year. According to Finance Minister Ibrahim Al-Assaf, Inmaa will carry out both banking and investment activities. State-owned Public Investment Fund, Pension Fund and the General Organization for Social Insurance will have a 30-percent stake in the bank, with each holding 10 percent of its shares. The council, which was chaired by Custodian of the Two Holy Mosques King Abdullah, gave instructions to complete the formalities for establishing the bank and for launching the IPO before the end of this year, the Saudi Press Agency reported, quoting Culture and Information Minister Iyad Madani. The Cabinet took another important decision to boost the stock market as it reduced the share value of joint stock companies from SR50 to SR10. "This change will apply to all joint stock companies that have received licenses," Madani said. Al-Assaf said King Abdullah reduced the stake of state-owned funds in the new bank in order to allow citizens to have more shares in the bank. "The government licensed the new bank considering the growing demand for such banking operations as equity participation, cost-plus financing and lease finance," Al-Assaf said. At present there are 11 commercial banks in the Kingdom. They are: National Commercial, Riyad, Samba, Al-Rajhi, Saudi-British, Saudi Fransi, Arab National, AlJazira, Saudi Hollandi, Albilad and Saudi Investment. The government has also licensed 10 foreign banks including BNP Paribas, J.P. Morgan, Deutsche Bank, the National Bank of Kuwait, the National Bank of Bahrain, Emirates Bank, Gulf International Bank, State Bank of India and National Bank of Pakistan. The consolidated balance sheet of Saudi commercial banks last year showed an overall increase of 1.7 percent of total assets as they rose from SR735 billion ($196 billion) in October to SR748 billion ($199 billion) in November. Total deposits with SAMA remained unchanged for October and November at SR23 billion ($6 billion). The banks' total deposits jumped from SR469 billion ($125 billion) in October to SR477 billion ($127 billion) in November. The Cabinet meeting also endorsed the rules and regulations related to e-government dealings, Madani said. The new regulations insist that every government department classify its information and data in accordance with specific standards, save its documents electronically, document its administrative procedures accurately and use e-mails and other electronic means for carrying out its activities, he said. Earlier, Foreign Minister Prince Saud Al-Faisal briefed the Cabinet on the Arab summit, which opens in Khartoum today. The Cabinet hoped that the Khartoum summit would take steps to implement the resolutions taken in the previous summits including measures to improve the working of the Arab League.

April 1st, 2006, 11:24 PM	#18
UofT Registered User Join Date: Jul 2004 Posts: 1,845 Likes (Received): 2	This is a Saudi Sky bar?, Well Lets Talk about AL BAIK, anybody hungry?

April 2nd, 2006, 01:06 AM	#19
Towers BANNED Join Date: Jan 2006 Posts: 352 Likes (Received): 1	^ you were watching porn and the girls never showed up lol

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