RIYADH: Saudi food delivery startup Jahez made a scene when it traded its shares for the first time yesterday on Nomu parallel market with an SR8.9 billion ($2.4 billion) market cap, which a leading Saudi analyst considered a sign of overvaluation. “We're excited to have a tech company get listed on the Saudi stock market, but its IPO price was extremely overvalued in my
With the Saudi budget statement for the 2022 fiscal year set to be released shortly, two Saudi economists tell Arab News their forecasts for the Kingdom's fiscal performance. A key difference is whether the Kingdom is projected to make a surplus or deficit. “In my opinion, we might see a surplus in 2021 in the fiscal budget coming from the rise in oil prices and VAT revenues
MOSCOW/RIYADH/CAIRO: When the Saudi stock market index sees a rally, usually most shares get an increase in value. However, this isn't the case for Al Rajhi Bank. Al Rajhi Bank, whose shares on Sunday recorded their highest level since April 2006 at SR135.20 ($36.05), is in a league of its own among all Gulf Cooperation Council Islamic or Shariah-compliant banks.