RIYADH: Saudi telecom operator Etihad Etisalat Co., known as Mobily, saw its profits jump 37 percent in 2021. Mobily recorded a net profit of SR1billion ($266 million), up from SR783 million a year earlier, it said in a bourse statement on Tadawul. Revenues stood at SR14.8 billion in 2021, up 5.6 percent from last year. The strong results were primarily driven by growth in the
RIYADH: Saudi stocks opened higher for the second straight day, driven by positive market moves. As of Monday, 10:24 a.m. Saudi time,the main index, TASI, edged up 0.50 percent to 12,526 points. The parallel market, Nomu, edged down 0.26 percent to 25,045 points. In the financial sector, the Kingdom’s largest valued bank, Al Rajhi Bank, fell by 0.60 percent, while Alinma Bank
RIYADH: Saudi Arabia's main index, TASI, rose on Monday, as oil prices increased and stocks continued to rise. At the closing bell, TASI, climbed 0.79 percent to 12,562 points. The parallel market, Nomu, dipped by 0.38 percent to 25,014 points. Brent crude stood at $93.95 per barrel. The US benchmark WTI was at $91.56 per barrel at 2:55 pm Saudi time. Shares in the largest
RIYADH: Saudi Arabian stocks opened flat on Wednesday amid a wave of earning announcements for the Kingdom's listed companies. As of 10:30 a.m. Saudi time, both the main and parallel indexes were flat. TASI traded at 12,302 points, and Nomu was at 25,543 points. Oil giant Aramco inched up by 0.13 percent and major chemical maker SABIC gained 0.65 percent. SABIC had closed a
RIYADH: Etihad Etisalat Co., Mobily, and Cisco announced the completion of the region’s largest Mobile IoT, or Internet of Things, cloud platform, hosted in Saudi Arabia, in a move that accelerates the Kingdom’s digitization efforts. The new cloud platform enables a fully-automated management for IoT devices, powered by Cisco’s IoT solution, with artificial intelligence and