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TASI rises due to higher crude oil prices: Closing bell

TASI rises due to higher crude oil prices: Closing bell
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TASI extends losses on fears of economic slowdowns: Closing bell

RIYADH: Saudi stock markets extended losses as investors worried that the latest central bank efforts to curb inflation would lead to rapid economic slowdowns. The main index, TASI, fell 0.93 percent to reach 11,358, while the parallel market, Nomu, dropped 1.94 percent at 20,672. Fawaz Abdulaziz Alhokair Co. led the decliners since the market opened with a 9.99 percent fall,

Saudi developer Dar Alarkan sees 675% profit spike in Q1 on higher sales

RIYADH: Dar Alarkan Real Estate Development Co. saw its profit spike by 675 percent during the first quarter of 2022. The Riyadh-based firm's profits hit SR221 million ($59 million), compared to SR29 million during the same period last year, it said in a bourse filing. The profit hike was coupled with an increase in revenue of 192 percent to SR1.6 billion for the quarter

Saudi developer Dar Alarkan redeems $500m Islamic sukuk

RIYADH: Dar Alarkan Real Estate Development Co. has completely redeemed its $500 million Islamic sukuk, the company announced in a bourse statement. The company one of the leading property developers in Saudi Arabia said that the impact of this transaction will be reflected on its financial statements in the second quarter. In the statement, it revealed that it used its

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