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RIYADH: Saudi Arabia’s Tadawul All Share Index marked a pronounced recovery as it rose 110.27 points or 1.05 percent on Monday to close at 10,647.18 following the surge in oil prices encouraged by top importer China’s move to reopen its borders. Brent crude LCOc1 was up $2.29, or 2.9 percent, at $80.86 a barrel by 1:50 p.m. Riyadh time, while US West Texas Intermediate ....
RIYADH: Zain KSA saw its shares jump 4.51 percent, after it transferred ownership of its subsidiary to the Public Investment Fund for the nominal amount of SR10,000 ($2666), renaming it The Golden Lattice Investment Co. Zain’s shares open the week at SR12.98, as of 10:24 a.m. Saudi time. The PIF previously joined with Prince Saud bin Fahad and Sultan Holding Co. in February to ....
RIYADH: Saudi Arabia’s main index, TASI, ended the first session of the week in the red, with investors remaining concerned about high inflation in the country. The Tadawul All Share Index dipped 0.14 percent to end at 11,405, while the parallel market, Nomu, dropped 0.13 percent to finish at 19,744. Saudi oil giant Aramco ended the session 1.13 percent lower, while Rabigh ....
RIYADH: Saudi stocks dropped on Wednesday, mirroring a continued decline in oil prices as recession worries intensified. The Kingdom’s real gross domestic product grew by 12.2 percent in the second quarter of 2022 over the same period last year, recording the highest growth in over a decade, revealed data by the General Authority for Statistics. TASI slid 1.1 percent to end ....
RIYADH: Zain KSA has received no-objection letters from the Communications and Information Technology Commission regarding the acquisition of tower sites by a Public Investment Fund-led consortium. The PIF previously joined with Prince Saud bin Fahad and Sultan Holding Co. to acquire an $807 million stake in Zain KSA’s tower infrastructure, a bourse filing showed. Saudi CITC ....