RIYADH: Salama Cooperative Insurance Co.’s board has proposed raising the company’s capital by SR200 million ($53 million) in a bid to support growth plans. The insurer seeks to increase its capital from SR100 million to SR300 million, after its shareholders approved a 60 percent capital cut, according to a bourse filing. Salama said the capital increase will be conducted
RIYADH: Saudi stocks settled flat on Tuesday, as news over potential global inflation spurred investor worries, while the market continued to see positive earnings reports. The main index, TASI, ended the session flat at 12,545, while the parallel market Nomu edged 0.34 percent lower to finish at 22,034. Stock market gains across the whole region were subdued, amid volatile
RIYADH: Saudi stocks edged up on Tuesday, following two straight days of losses, as investor sentiment improved on the back of optimistic earnings results. TASI closed 0.76 percent higher at 11,964, while the parallel market, Nomu, finished 1.2 percent lower at 20,791. Dubai, Qatar, Oman, Bahrain, and Kuwait all advanced in line with Saudi Arabia, with the Omani bourse leading
RIYADH: Saudi main index began the week’s trading session almost flat as investors awaited earning results. TASI edged up 0.09 percent to 11,998, while Nomu was unchanged at 20,955 as of 10:08 a.m. Saudi time. Salama Cooperative Insurance Co. surged 9.45 percent, leading gainers, while United Cooperative Assurance Co. slipped 8.68 percent, leading the fallers. Saudi Investment
RIYADH: Saudi Arabia’s stock market concluded last week with five straight days in the green, buoyed by positive earnings reports. At the previous closing bell, TASI surged 1.04 percent to end the week at 11,987, and the parallel market Nomu rose 1 percent to 20,960. Most Gulf stock markets extended their rebound in line with Saudi Arabia, led by a 2.1-percent gain in the Abu