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RIYADH: Saudi Arabian stocks gained on Wednesday, supported by a rise in oil prices despite ongoing concerns over a potential global recession. The main index TASI advanced 0.5 percent to reach 11,727, while the parallel market, Nomu, added 1.8 percent to 20,728. TASI was lifted by a 0.9 percent rise in oil giant Aramco and a 2.9 percent surge in the Kingdom’s biggest lender ....
RIYADH: Arabian Centres Co. saw its net profits decline by 11 percent for its fiscal year ending March 31, 2022. Also known as Almrakez, the company reported a net profit of SR433.8 million ($116 million), down from SR486.7 million last year, according to a bourse filing. Almrakez said the decline in profits was mainly caused by a rise in expenses, and a fall in other income. ....
RIYADH: Saudi stocks ended Wednesday with a steep decline despite a recent rebound, as the threat of a recession continued to weigh on investor sentiment. TASI, the main index, approached one of its lowest levels in months again, dropping 2.9 percent to 11,319. The parallel Nomu market also lost 1.1 percent to 20,649. Stock exchanges in Dubai, Qatar, and Abu Dhabi were down ....
RIYADH: Saudi-listed Arabian Centres Co., better known as Almrakez, has re-elected Fawaz Al-Hokair as chairman and Salman Al-Hokair as vice-chairman of the board. The new term took effect on June 19 and will last for three years, according to bourse filing. Almrakez owns and manages a network of contemporary lifestyle centers in Saudi Arabia, which contain over 4,300 stores. ....
RIYADH: Saudi Arabia’s main stock index TASI fell below the 12,000 level for the first time in months last week, tracking a drop in oil prices. TASI closed the week at 11,824, down 1.3 percent for the fifth straight session on Thursday. However, the parallel Nomu market added almost 1 percent to 21,504. Most stock markets in the Gulf retreated in line with the Saudi main ....