RIYADH: Saudi Home Loans, a Shariah-compliant real estate lending firm, earnings were boosted by gains from hedging against future changes in interest cost. First-quarter profit rose by 9.8 percent to SR32.4 million ($8.6 million), against SR29.5 million in the same period a year ago, according to a bourse filing. “The reason for the increase is due to recognized gain from the
RIYADH: Saudi stocks advanced on Wednesday, after the International Monetary Fund said it expects the Kingdom’s economy to more than double in 2022. TASI closed 1.2 percent higher at 13,668, with Saudi Home Loans soaring 30 percent on its trading debut. However, Saudi’s parallel market Nomu was down 0.6 percent to 23,934. Elsewhere in the Gulf, Abu Dhabi and Bahrain’s indexes
RIYADH: At Thursday's closing bell, the Saudi main market, TASI, was down 0.98 percent at 13,534, while parallel market, Nomu, was down 0.43 percent to reach 23,830. Al Abdullatif Industrial Investment Co. rose 5.85 percent to top the gainers, while Tanmiah Food Co. was down 5.61 percent to lead the fallers. Among the gainers, Alkhorayef Water and Power Technologies Co. rose
RIYADH: Shares in Saudi Home Loans, a Shariah-compliant real estate financing firm, soared 30 percent on its first day of trading on the Kingdom’s stock market. The stock made its debut at SR22 ($5.87) and almost an hour later it jumped to SR26, against the initial public offering price of SR20 per share. The Riyadh-based company now holds a market capitalization of SR2.6