RIYADH: Saudi Arabia’s two listed insurers, Amana Cooperative Insurance Co. and Allied Cooperative Insurance Group, are exploring a potential merger. Both parties announced in separate stock exchange filings that they entered into a memorandum of understanding for the merger, which will expire a year from now. Based on the terms of the MoU, the method used for valuation will
RIYADH: Saudi Arabia's main index TASI opened flat yet again as investors continue to monitor the situation in Eastern Europe and as oil price volatility continued. As of Wednesday 10:06 a.m. Saudi time, both TASI and the parallel market, Nomu, started trading flat at 13,093 and 25,021, respectively. Oil prices were on the rise again, with Brent crude up $2.43, trading at
RIYADH: Saudi Arabia's main index closed Wednesday trading down, reversing three days of gains, as fear returns to markets and energy prices rise. TASI was 0.48 percent down, maintaining its 13,038 points, while the parallel market, Nomu, shed 0.34 percent to reach 24,942 points. Brent crude rose by $3.36 to $107.60 a barrel, while US WTI crude rose over $2.71 to $107.60 a
RIYADH: Saudi Arabia’s main TASI index ended higher for the seventh straight session on Monday, buoyed by optimistic investor sentiment. TASI advanced to close at 12,166 points, while the parallel market Nomu edged down by 0.4 percent. Nomu is to see two new company listings today of Alwasail Industrial Co. and AME Co. for Medical Supplies. Gulf stock exchanges saw a mixed
RIYADH: Saudi Arabia’s stock market concluded six straight sessions in positive territory as optimistic market sentiment overshadowed growing omicron worries. In the latest session, the main index TASI edged up to 12,110 points after reaching over 12,200 early in the morning, and the parallel Nomu market closed marginally higher at 26,288 points. The Gulf was led by the Qatari