Saudi Arabia's Capital Market Authority announced the fines this week. Bloomberg
Saudi Arabia's Capital Market Authority announced the fines this week. Bloomberg

Thirteen investors convicted of violating capital market laws in Saudi Arabia



Saudi Arabia’s financial regulator has fined 13 people for violating the country’s capital market laws.

The Capital Market Authority’s Appeal Committee for Resolution of Securities Disputes said in a statement on Thursday the investors had manipulated stock prices and made “illegal gains” in their portfolios.

It ordered them “and other investors” to pay a total of SAR 42.9 million ($11.44 million) in fines.

It said the 13 investors were fined SAR 17 million for placing “purchase orders that influenced the share price, some of which were linked to sale orders, while trading on the shares of listed companies”.

This came after the 13 investors, as well as the unnamed “other investors,” were fined a total of SAR 25.9 million “for the illegal gains achieved in their investment portfolios”.

Local media personalities confirmed that Turki Al Dakhil, whose name appeared on the list, was Saudi Arabia's former ambassador to the UAE.

Mr Al Dakhil, 50, is a well-known Saudi journalist, diplomat and businessman.

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The biog

Name: Sarah Al Senaani

Age: 35

Martial status: Married with three children - aged 8, 6 and 2

Education: Masters of arts in cultural communication and tourism

Favourite movie: Captain Corelli’s Mandolin

Favourite hobbies: Art and horseback ridding

Occupation: Communication specialist at a government agency and the owner of Atelier

Favourite cuisine: Definitely Emirati - harees is my favourite dish

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Director: Shawn Levy

Rating: 3/5

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The biog

Birthday: February 22, 1956

Born: Madahha near Chittagong, Bangladesh

Arrived in UAE: 1978

Exercise: At least one hour a day on the Corniche, from 5.30-6am and 7pm to 8pm.

Favourite place in Abu Dhabi? “Everywhere. Wherever you go, you can relax.”

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Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4

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Colours: Blue, purple, space grey, starlight

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Power: 712hp at 6,100rpm

Torque: 881Nm at 4,800rpm

Transmission: 8-speed auto

Fuel consumption: 19.6 l/100km

Price: Dh380,000

On sale: now 

BEACH SOCCER WORLD CUP

Group A

Paraguay
Japan
Switzerland
USA

Group B

Uruguay
Mexico
Italy
Tahiti

Group C

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UAE
Senegal
Russia

Group D

Brazil
Oman
Portugal
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Directed by: Craig Gillespie

Starring: Emma Stone, Emma Thompson, Joel Fry

4/5

COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
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Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

Jigra
Director: Vasan Bala
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
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Updated: May 03, 2024, 5:18 PM