RIYADH: The Mediterranean and Gulf Cooperative Insurance Co., also known as MEDGULF, has announced appointing Rakan Abunyan as chairman of the board and Youssef Al Yousefi as vice chairman. As per the new election terms, changes will take effect for three years, it said in a bourse filing. MEDGULF is one of the largest insurance companies in the Kingdom, offering health,
RIYADH: Saudi Arabia’s main stock index TASI fell below the 12,000 level for the first time in months on Wednesday, as investor fears shifted to a possible global recession. TASI dropped 0.35 percent to close at 11,978, and the parallel market Nomu shed almost 1 percent to 21,301. Stock exchanges of Qatar, Egypt, and Oman retreated in line with Saudi Arabia. However, Dubai’s