RIYADH: Saudi Arabia’s Tadawul All Share Index on Sunday gained 42.61 points or 0.40 percent to close at 10,724.62. While MSCI Tadawul 30 Index edged up 4.61 points to close at 1,486.51, the parallel market Nomu slumped 243.64 points to 19,213.17. TASI’s total trading turnover of the benchmark index on Sunday was recorded at SR3.09 billion ($820 million), with 140 stocks
RIYADH: Energy giant Saudi Arabian Oil Co.’s net profit in the fourth quarter of 2022 is expected to drop to SR146 billion ($38 billion), down 6.3 percent from the previous quarter, according to Al Rajhi Capital. In its report, the Riyadh-based firm noted that the reduction in net profit is due to a weak demand outlook amid a global economic slowdown.
The region’s largest retail and shopping centre event, the Retail Congress (RECON) Mena, is addressing how to build a better future as the year 2022 presents a new opportunity to pave the way for the next evolution, the Retail Reborn.
RIYADH: Aldrees Petroleum and Transport Services Co. has seen its profit increase by 39 percent for the first nine months of 2022, bolstering its stock price. Aldrees’s shares jumped 2.07 percent to reach SR74 ($19.7) at 10:06 a.m. Saudi time, compared with SR72.50 the previous close. The fuel service station provider’s profit rose to SR170 million from SR123 million a year