The International Monetary Fund released its annual World Economic Outlook report earlier this year. It anticipated Saudi Arabia to be one of the fastest-growing economies in 2022, with a gross domestic product growth of 7.6 percent. Transportation is one of the industry sectors contributing actively toward this growth. Accordingly, the Kingdom has committed to significant
RIYADH: Saudi Arabian stocks gained on Wednesday, supported by a rise in oil prices despite ongoing concerns over a potential global recession. The main index TASI advanced 0.5 percent to reach 11,727, while the parallel market, Nomu, added 1.8 percent to 20,728. TASI was lifted by a 0.9 percent rise in oil giant Aramco and a 2.9 percent surge in the Kingdom’s biggest lender
RIYADH: Saudi stocks rose in the first trading session of the week, easing after steep losses, but investors remain cautious due to upcoming rate hikes by major central banks and global recession risks. The main index, TASI, increased 1.80 percent to close at 11,514, while the parallel market, Nomu, decreased 0.85 percent to 20,552 as of 10:07 a.m. Saudi time. Rabigh Refining
RIYADH: Saudi Arabia’s main stock market ended the previous month 4.9 percent higher, backed by strong quarterly earnings. TASI the main index closed at 13,733 points, while the parallel market Nomu reached 23,909 points on Apr. 28 before the market stopped trading for the one-week Eid al-Fitr break. Meanwhile, global markets witnessed a steep decline last week, following a
RIYADH: The Saudi main index opened higher during the first session of the week, as investors awaited earning reports and closely monitored the energy market. TASI opened 0.29 percent higher to reach 13,773, while the parallel market, Nomu, was down 0.29 percent to 23,839 at 10:11 a.m. Saudi time. Crude oil prices closed higher on Friday, with Brent crude reaching $112.39 per