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RIYADH: Saudi Arabia’s Tadawul All Share Index on Tuesday lost 86.21 points or 0.82 percent to close at 10,469.50. While MSCI Tadawul 30 Index dropped 1.11 percent to 1,436.58, the parallel market Nomu rose 1.23 percent to 18,992.80. TASI’s total trading turnover of the benchmark index on Tuesday was SR3.76 billion ($1 billion), with 101 stocks of the listed 224 advancing
RIYADH: Raydan Food Co. has invited its shareholders to vote on reducing the company’s capital from SR338 million ($90 million) to SR158 million. This reduction plan was made in order to restructure the company’s capital structure to recover losses, according to a bourse filing. Raydan Food reported earlier that its accumulated losses reached SR179 million in the first half of
RIYADH: Saudi Arabia’s main index dipped during its last trading session last week in anticipation of another large rate increase by the Federal Reserve on Wednesday. The Tadawul All Share Index dropped 0.37 percent to end at 11,461, while the parallel market Nomu rose 0.23 percent at 20,265. Tadawul was closed on Thursday in observance of Saudi National Day. During Thursday’s
RIYADH: Raydan Food Co. has been given the go-ahead from Saudi Arabia’s market’s watchdog to reduce its capital by 53 percent. The company is cutting its capital from SR338 million ($90 million) to SR158 million, according to a bourse filing, and has now received approval from the Capital Market Authority. This reduction plan was made in order to restructure the company’s