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RIYADH: Saudi Paper Manufacturing Co. has signed an agreement with Italy-based Toscotec for the production and supply of a tissue paper production line for the total cost of SR166 million ($44 million). The deal is part of a letter of understanding both companies signed in June to purchase the fifth production line in Dammam 2nd Industrial City, which will produce tissue rolls
RIYADH: Aldrees Petroleum and Transport Services Co. saw its profits drop in the second quarter of 2022, thanks to the impact of Ramadan and losses from investment portfolios. The firm recorded a SR46 million ($12.24 million) profit in the three months to the end of June, down from SR62.4 million in the first quarter of 2022. However, Aldrees is still up year-on-year, bringing
RIYADH: Saudi stocks dropped on Tuesday, extending losses for another session as investors assessed the impact of a potential economic slowdown. TASI, as the main index is known, fell 0.27 percent ending the day at 12,020, while the parallel market, Nomu, added 0.21 percent to 21,505. Bahrain and Kuwait lost 0.5 percent each, and Oman’s index was almost flat. Elsewhere in the