RIYADH: Saudi Arabia’s stock market fell to close the previous week lower as investor sentiment was dragged down by concerns over an economic slowdown and recession. TASI lost 1.3 percent on Thursday to end at 12,605 points, while the parallel market, Nomu, was down 0.2 percent to 22,844. Stock exchanges in the Gulf all declined in line with Saudi Arabia, while Oman bucked the
RIYADH: Saudi Arabia’s Alkhorayef Water and Power Technologies Co. has secured a loan worth SR315 million ($84 million) from Al Rajhi Bank to finance water projects in Dammam. The Shariah-compliant agreement aims to finance future projects and ventures, the company said in a statement to the Saudi bourse. With the deal extending for three years, Alkhorayef Water will use the
RIYADH: Saudi stocks nudged higher on Wednesday in line with a rise in oil prices. TASI the main index added 0.2 percent to close at 12,713, while the parallel Nomu market gained 0.6 percent to 22,832. Shares of state-owned Saudi Electricity shed 8 percent after posting a drop in first-quarter profit. In line with the Saudi index, stock exchanges of Abu Dhabi, Qatar, Bahrain,
RIYADH: Saudi Arabia’s stock market retreated on Monday, as weak earnings disclosures weighed on investor sentiment. The main TASI index shed 1.8 percent to close at 12,914, and the parallel market, Nomu, lost 1.3 percent to 22,540. Stock exchanges of Qatar, Egypt, Bahrain, and Kuwait all recorded losses in line with Saudi Arabia, while Oman’s MSX30 was up 0.3 percent. Oil
RIYADH: A plunge in oil prices weighed on major Gulf markets on Monday, but Saudi Arabian stocks bucked the trend to close higher. Even as TASI the main index advanced by 0.6 percent to reach 13,543 points, the Kingdom’s parallel market, known as Nomu, shed 1.3 percent to 23,521 points. Stock exchanges of Qatar, Abu Dhabi, and Dubai dropped 1.6, 0.9, and 0.8 percent,