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RIYADH: Saudi developer Arriyadh Development Co. has seen its net profit increase by 40 percent during 2021. The Riyadh-based company made SR318.3 million ($85 million) in profit, compared to SR227.9 million a year earlier, it said in a bourse statement on Tadawul. Results were derived from the associate company's business, as well as the increase in operating and rental
RIYADH: As investor sentiment was fueled by strong earnings, Saudi Arabia’s main TASI index neared 12,500 points last week for the first time since 2006. At Thursday's closing bell, TASI edged slightly lower to end at 12,476 and the parallel Nomu market was down 0.23 percent to 25,228. Shares in recently listed Elm Co. — a digital security firm owned by the Kingdom’s wealth
Saudi Arabia’s Tadawul All Share index barely changed on Thursday morning as it went up by 15.55 points to open at 11,919 points. Here’s a wrap of the market’s latest news: Arriyadh Development’s net income more than doubled as it recorded a SR325.2 million ($86.7 million) profit in the first nine months of 2021. A bad day for dairy companies NADEC made losses of SR7.8 million
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Middle EastMIDEAST STOCKS Major Gulf indexes make mixed start, with Qatar gaining Reuters 3 minutes read Major Gulf share markets were mixed on Monday, with the Qatari index boosted by Commercial Bank (COMB.QA), while Saudi Arabia's benchmark index (.TASI) slipped 0.4%. In the Saudi market, Al Rajhi Bank (1120.SE) fell 0.5%, while Saudi National Bank (1180.SE), the kingdom's largest lender, retreated 1.7% and Arriyadh Development (4150.SE) dropped 2.4%, as the stock went ex-dividend. However, Yanbu National Petrochemicals Company (2290.SE) climbed by more than 2%, after it reported a sharp su...