RIYADH: Shares of Saudi Arabia’s United Electronics Co., known as eXtra, shed 0.34 percent at the opening bell of Monday despite the news that it surged 18 percent in net profit over the first nine months of 2022. Shares of eXtra opened lower at SR87.20 ($23), as of 10:08 a.m. Saudi time. The Khobar-based retailer’s profit rose to SR319 million ($85 million), compared to SR271
RIYADH: Saudi main stock index TASI started the trading week higher on Sunday, propelled by lifted investor appetite. At the closing bell, TASI was up 0.6 percent to 13,395 points, while the parallel market Nomu edged down to 24,245. Qatar topped GCC stock exchanges, adding 2.8 percent, followed by Oman and Bahrain. Kuwait’s BKP and the Egyptian index EGX30 shed 0.3 and 1.8
RIYADH: Saudi Arabia’s United Electronics Co., known as eXtra, posted a 20 percent increase in net profit for the first quarter of 2022 due to an increase in sales. The Khobar-based retailer’s profit rose to SR97 million ($25.8 million), compared to SR81 million for the same period a year earlier, it said in a bourse filing. The result was attributed to higher sales as well as
RIYADH: Saudi stocks closed Monday almost flat as investors worried about global affairs following Russia's invasion of Ukraine. At the closing bell, the main index, TASI, flattened at 12,808, and the parallel market Nomu slipped 0.50 percent to 24,628. UAE stock markets were volatile, Abu Dhabi index ended flat, while Dubai's DFMGI fell 0.9 percent for the second straight
RIYADH: Saudi Arabia’s United Electronics Co., known as eXtra, posted its highest-ever estimated annual profit for the fiscal year 2021. Net profit jumped by 42 percent from a year earlier, reaching SR397 million ($106 million) despite a slight drop in revenues, it said in a bourse statement. This was attributed to consumer finance and services sector growth which led to an