RIYADH: Saudi Arabia’s stock market resumed its gains momentum on Sunday in line with a Friday rally in global stocks despite rising geopolitical tensions. Fueled by strong earnings, the main index, TASI, rose 0.98 percent to 12,418 points. The parallel market, Nomu, gained 0.04 percent to 24,952. In line with the Saudi index, Middle Eastern bourses, including Qatar, Egypt,
JEDDAH: The Saudi Arabian Amiantit Co. has announced that four out of five of its board members had agreed to waive their remuneration for the 2018 and 2019 fiscal years.
The decision, made during a meeting on Monday, was driven by the current financial circumstances of the firm, the company said on Tadawul on Tuesday.
At a general assembly meeting earlier this year, the company had approved remuneration of SR1 million ($270,000) for each year. The total amount waived amounts to SR1.6 million.
Chairman Prince Ahmad bin Khaled, Vice-chairman Prince Abdul Aziz bin Mohammed bin Fahd, Khalil Kordi, and Sulaiman Al-Amro were the members who approved the waiver.