RIYADH: Shares of Savola Group Co. increased 0.66 percent, after its shareholders approved selling all Savola’s shares in Knowledge Economic City Co. to Taiba Investments Co. for SR459 million ($122 million). Savola saw its shares increase to SR30.8 as of 10:06 a.m. Saudi time. Savola owns an 11.47 percent stake in KEC direct ownership of 6.40 percent and indirect ownership
RIYADH: Saudi stocks returned to positive territory after slipping steeply at the beginning of the week, however, major central banks’ interest rate hike plans and recession risks remain concerns for investors. The Tadawul All Share Index rose 0.50 percent to end Tuesday at 11,503, while the parallel market Nomu traded flat at 20,218. In the same direction, the UAE’s stocks
RIYADH: Saudi Arabia’s main index started lower on Wednesday as investors prepared for another large rate hike to be announced by the Federal Reserve. The Tadawul All Share Index dropped 0.1 percent to start at 11,491, while the parallel market Nomu started flat at 20,210, as of 10:06 a.m. Saudi time. Saudi oil giant Aramco began the day flat, while Rabigh Refining and
RIYADH: Saudi Arabia’s main index dipped in anticipation of another large rate increase by the Federal Reserve on Wednesday. The Tadawul All Share Index dropped 0.37 percent to end at 11,461, while the parallel market Nomu rose 0.23 percent at 20,265 Saudi oil giant Aramco ended the day with a 0.55 percent decline, while Rabigh Refining and Petrochemical Co. fell by 2.79
RIYADH: Saudi stocks started Wednesday lower on fears of aggressive rate hikes following an unexpected rise in US inflation. The Tadawul All Share Index was down 1.8 percent at 11,866, and the parallel market Nomu was down 1.12 percent at 20,763, as of 10:08 a.m. Saudi time. Saudi oil giant Aramco fell 0.94 percent, while Rabigh Refining and Petrochemical Co. declined 1.99