RIYADH: Saudi Arabia’s main index continued to rise during Tuesday’s trade in line with higher oil prices and decreasing recession worries, which improved investors’ risk appetite. The Tadawul All Share Index ended the session 0.52 percent higher at 12,084, while the parallel market Nomu finished with a 0.47 percent rise at 20,997. The Kingdom’s largest valued bank Al Rajhi
RIYADH: Saudi Arabia’s main index continued to suffer losses due to the continuing decline in oil prices. TASI ended the week’s final trading session on Thursday 0.25 percent lower to reach 11,834, while the parallel market Nomu edged down 0.44 percent at 20,438. Saudi oil giant Aramco fell 0.95 percent, while Rabigh Refining and Petrochemical Co. declined 1.37 percent. The
RIYADH: Saudi stocks finished Monday’s session in the red as the Organization of the Petroleum Exporting Countries and its allies agreed to a small production cut to bolster prices. The main index TASI slid 0.8 percent to finish at 12,099, while the parallel Nomu market declined 1.7 percent to 21,274. Abu Dhabi’s bourse recorded the steepest decline among Gulf markets, falling
RIYADH: Allianz Saudi Fransi Cooperative Insurance Co. reported stronger earnings for the first half of 2022, amid news that its German parent company is planning to sell its stake in the Saudi unit. The joint venture between Allianz Group and Banque Saudi Fransi saw its net profit before Zakat surge 13 percent to SR10 million ($2.7 million), according to a bourse filing.
RIYADH: German insurer Allianz is planning to sell its Saudi Arabia unit, as the firm eyes streamlining its portfolio and raising cash, Bloomberg reported quoting people familiar with the matter. According to the report, Allianz is currently working with an adviser to sell its controlling stake in Allianz Saudi Fransi Cooperative Insurance Co. To date this year, shares of