RIYADH: Saudi Arabian stocks gained on Wednesday, supported by a rise in oil prices despite ongoing concerns over a potential global recession. The main index TASI advanced 0.5 percent to reach 11,727, while the parallel market, Nomu, added 1.8 percent to 20,728. TASI was lifted by a 0.9 percent rise in oil giant Aramco and a 2.9 percent surge in the Kingdom’s biggest lender
RIYADH: Saudi stocks regained some momentum on Tuesday, mirroring a rise in oil prices after China eased lockdown restrictions. TASI surged 2.1 percent to 11,671, buoyed by a 3.3 percent rise in oil giant Aramco and a 3.4 percent leap in the Kingdom’s biggest lender Saudi National Bank. The parallel market, known as NOMU, also recorded a 0.6 percent gain to end the day at
RIYADH: Saudi stocks dropped on Monday amid a continued fluctuation in oil prices and inflation fears that weighed on investor sentiment. TASI fell 0.8 percent to end the day at 11,427 following the debut of Saudi developer Retal Urban Development, while the parallel Nomu market lost 2.1 percent to 20,248. Unlike Saudi Arabia, most stock markets of gulf peers rebounded on
RIYADH: Saudi-listed Rabigh Refining and Petrochemical Co.’s rights issue has generated SR7.65 billion ($2 billion) in proceeds amid a 91-percent capital hike plan. The company, better known as Petro Rabigh, offered 795 million shares, out of which 96.26 percent were subscribed, according to a bourse filing. This allowed the company to increase its capital to SR16.7 billion
Shareholders of Petro Rabigh, one of the world’s largest integrated refining and petrochemical facilities, have approved plans to increase the company s share capital to SR16.71 billion ($4.45 billion) through a rights issue.