RIYADH: Saudi Arabia’s main stock index TASI fell below the 12,000 level for the first time in months last week, tracking a drop in oil prices. TASI closed the week at 11,824, down 1.3 percent for the fifth straight session on Thursday. However, the parallel Nomu market added almost 1 percent to 21,504. Most stock markets in the Gulf retreated in line with the Saudi main
RIYADH: Saudi Arabia’s stock exchange, in addition to major Middle Eastern markets, fell last week on worries that high inflation and rising interest rates will weigh on the global economy. The main TASI index was down 4.06 percent at 12,835, with Al Rajhi Bank dropping 6.5 percent, and the parallel market Nomu also edged down to 22,646. TASI’s oil giant Aramco had surpassed
RIYADH: Batic Investments and Logistics Co. agreed to acquire Smart Solutions Co.’s stake in Smart Cities Solutions for Communications and Information Technology for SR12 million ($3.19 million). The stake is equivalent to 4 percent of Smart Cities Solutions capital, according to a filing with Saudi stock exchange, Tadawul. The deal is pending necessary official approvals by
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