RIYADH: The National Shipping Co. of Saudi Arabia, also known as Bahri, has announced its plans to issue SR3.9 billion ($1.04 billion) worth of sukuk, a Shariah-compliant bond. The offer is intended to refinance the Saudi shipping giant’s existing sukuk which will mature later this year, according to the filing. Bahri, which is a joint venture between Saudi Aramco and the
RIYADH: Saudi Arabia’s main stock market crossed the 13,900-level for the first time in 16 years on Monday but gave up gains later in the day due to lower investor sentiment. TASI, as the main index is known, closed flat at 13,814 points, and the parallel market Nomu dropped 0.3 percent to 23,475 points. Elsewhere in the Gulf, stock exchanges of Abu Dhabi, Dubai, Qatar,
Saleh bin Nasser Al-Jasser is the minister of transport of Saudi Arabia and one of the key speakers at the Future Aviation Forum. The minister oversees the delivery of new policies to upgrade the air, sea and land transportation systems in the Kingdom as well as helping in the formulation of new advanced plans in the field of public and private transport. He utilizes his long
RIYADH: Saudi Arabia’s main stock market, TASI, closed lower on Sunday in line with other major Middle Eastern bourses. At the closing bell, TASI was down 0.5 percent at 13,463, while Nomu was almost flat at 23,832. Stock exchanges in Qatar, Bahrain, Oman, and Kuwait all dropped between 0.3 and 0.5 percent. In energy trading, oil prices plunged nearly 4 percent today on the
Saudi shipping firm Bahri saw its profit surge by 49 percent to SR64.9 million ($17 million) during the first quarter of 2022 on higher oil revenues. The firm, which is a joint venture between the Public Investment Fund and Saudi Aramco, made profits of SR43.6 million in the same period a year earlier, a bourse .