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RIYADH: Saudi Arabia’s Tadawul All Share Index, closed 42.30 points higher — or 0.14 percent — on Thursday to end at 10,290.42, pitting itself against the negative sentiment that clouded the global markets after the US Federal Reserve’s interest rate hikes. The benchmark index swung heavily between gains and losses, scaling to a high of 10.294.65 at 10:38 a.m. Saudi time and
RIYADH: Saudi digital security Elm Co. signed a SR207 million ($55 million) contract with the Ministry of Interior to install vehicle security systems and field inspection gates. Under the one-year deal, the Public Investment Fund-owned company will provide the necessary hardware, equipment, systems, training and licenses for the performance of the contract, according to a
RIYADH: Abu Dhabi, alongside Saudi Arabia, has seen a spike in initial public offering listings this year, and is on track to continue the trend next year. The UAE capital is likely to host an additional three IPOs this year and at least 11 by 2023, Bloomberg reported, citing an official. This is happening in line with a trend that sees buyers showing greater appetite for the
RIYADH: The Saudi main index ticked up on Thursday, but September still marked a dismal month for the stock exchange, marked by persistent inflation, unstable gas prices, and aggressive Fed hikes. The Tadawul All Share Index ended September dropping 7 percent over the course of the month to reach 12,283 at the closing bell of Thursday’s session. This is despite closing the
RIYADH: Shares of Saudi digital security firm Elm Co. dropped 2.36 percent, after the company announced it will distribute SR155 million ($41 million) in dividends for the first half of 2022. Elm shares dropped to SR306.40, against SR313.8 in the previous session. The Public Investment Fund-owned firm said the payout per share would be SR2, with nearly 77 million shares