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RIYADH: Saudi stocks slid last week to end lower on Thursday as oil prices fell to seven-month lows before rebounding on Friday. TASI exited the week’s final trading session 0.3 percent lower at 11,834, while the parallel market Nomu edged down 0.4 percent to 20,438. In line with the Kingdom’s bourse, Dubai, Kuwait, and Oman lost between 0.2 and 0.7 percent. Abu Dhabi and ....
RIYADH: Saudi Arabia’s Raydan Food Co. has shut down one of its branches in Jeddah, which used to contribute 5.5 percent of the company’s total sales. This was based on decisions by competent authorities to remove some neighborhoods that fall within the food chain operator’s scope, according to a bourse filing. Raydan said it will take the necessary measures to address the ....
RIYADH: Saudi stocks tracked a drop in oil prices to end Tuesday’s trading session lower, with the main TASI index sliding below the 12,000 level. The Organization of the Petroleum Exporting Countries and its allies on Monday agreed on a small production cut of 100,000 barrels a day to bolster prices. Oil prices then fell to hover around $90 a barrel on Wednesday. Brent crude ....
RIYADH: Raydan Food Co.’s losses have widened by 62 percent to SR22 million ($6 million) in the first half of 2022, despite a surge in revenue during the period. However, Raydan, which is into traditional food restaurants and catering, saw its first-half revenue surge 22 percent to reach SR80 million, according to a bourse filing. Its accumulated losses, however, hit SR179 ....
RIYADH: Saudi Arabia’s stock market rebounded on Wednesday, tracking a recovery in oil prices as they surpassed $100 a barrel. TASI edged 0.2 percent higher to 12,443, while the parallel Nomu market added 0.3 percent to end at 21,633. Likewise, the stock exchanges of Qatar and Dubai advanced by 0.4 and 0.9 percent, respectively. Abu Dhabi, Oman, and Kuwait finished lower, ....