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Saudi IT provider Arab Sea back to losses as rising costs bite

RIYADH: Saudi-listed information technology provider Arab Sea Information Systems Co. has turned into losses of SR3.6 million ($0.96 million) in the first quarter. The company had made SR75,071 in profit in the first quarter of last year even as its sales were slightly lower, according to a bourse filing. The Riyadh-based firm is now back to losses after it had earlier ....

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TASI nears 15-year high; oil at multi-year peak on tight supply: Opening bell

RIYADH: Saudi Arabia’s main stock index started the trading day slightly higher as earnings announcements continued to kick in and the energy market rose for another day amid concerns over tight supplies. As of 10:30 a.m. Saudi time, TASI was up 0.2 percent to 12,282 points, nearing a 15-year record high, while the parallel market Nomu edged 0.12 percent lower to reach 25,462 ....

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