RIYADH: Saudi food manufacturer Halwani Bros Co. has experienced losses during the first nine months of 2022, due to increased costs resulting from global inflation. The company registered a net loss of SR5.1 million ($1.36 million) for the period ending Sep. 30, compared with SR66 million in profits in the prior-year period, according to a bourse filing. Following the
RIYADH: Saudi stocks closed slightly lower on Sunday, tracking oil’s Friday drop. TASI slipped 0.13 percent to 12,514, with shares of oil giant Aramco down 0.9 percent after reporting a record second-quarter profit of SR182 billion ($48.4 billion). Aramco’s profit soared 80 percent in the second quarter of 2022 from SR95.5 billion a year earlier, beating the median of
RIYADH: Saudi food manufacturer Halwani Bros Co. has reported a 65 percent drop in profit in the first half of the year, due to increased costs resulting from global inflation. The company’s net profit fell to SR18 million ($5 million) compared to SR52 million in the same period last year, according to a bourse filing. Halwani Bros attributed the lower profits to rising raw
RIYADH: Saudi food manufacturer Halwani Bros Co. has reported a 22 percent profit drop in the first quarter as global inflation increased its cost burden. The company’s net profit fell from SR25.4 million ($6.8 million) to SR19.7 million year-on-year, according to a bourse filing. Halwani Bros attributed the lower profits to the rising costs of raw materials due to global
RIYADH: Saudi Arabia’s main stock market, Tadawul, gained on Sunday as it reopened after the Eid break amid a rise in oil prices. TASI, the main index, added 0.6 percent to 13,820 points, while the parallel market Nomu dropped 1.5 percent to 23,547 points. Elsewhere in the Gulf, stock exchanges of Qatar, Bahrain, Oman, and Kuwait all edged down. Egypt, on the other hand,