RIYADH: The main Saudi index climbed higher for a third day in a row at the start of Thursday's trading, as oil prices continue to spike. Brent crude reached $117 per barrel, while US benchmark WTI traded at $114.64 per barrel as of 10:06 a.m. Saudi time. TASI opened 0.58 percent higher at 12,728, while the parallel market , Nomu, traded 0.10 percent lower at 24,938, as of
RIYADH: Saudi stocks ended slightly higher this week, despite a downturn in other markets as traders shunned in light of the Ukraine-Russia conflict. As of Thursday, the main index, TASI, closed 0.80 higher percent to reach 12,756, while the parallel market, Nomu, dropped 0.78 percent to reach 24,767. Brent crude oil continues to hit record highs, reaching $113.22 per barrel,
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Southern Province Cement reports 32% profit increase 05 March 2021
Saudi Arabia’s Southern Province Cement has reported a 31.5 per cent rise in net profit after zakat and tax to SAR609m (US$162.4m) in 2020, compared with SAR463m in the previous year.
The company attributed the increase in net profit to higher sales revenue, a decrease in financing costs and an increase in other miscellaneous revenues, according to a statement.
Its revenue also advanced 27.2 per cent YoY to SAR1.65bn from SAR1.3bn in 2019.
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Here are a few things you need to know as Saudi stocks start trading on Wednesday.
- National Commercial Bank (NCB) and Samba Financial Group received the approval of the Saudi Central Bank (SAMA) for the merger and a number of relevant matters.
- Solidarity Takaful Co. s board of directors approved the resignation of chief executive officer Bader bin Khalid Al-Anzi, citing personal reasons.
- Aseer Trading, Tourism and Manufacturing Co.’s subsidiary, Al Rabie Saudi Foods Co. Ltd., signed a Shariah-compliant financing agreement at a total value of SR 342 million ($91.2 million), with Samba Financial Group.
- Saudi Ground Services Co.’s planned expansions of the Kingdom s airports will create new opportunities for the company as well as other market competitors after the end of the pandemic outbreak.