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RIYADH: Saudi Arabia’s main index ended Wednesday’s session lower to close below the 12000-point level, tracking a continued decline in oil prices as recession worries intensified. TASI dropped 1.09 percent to close at 11,863, while the parallel market Nomu lost 1.55 percent to finish at 20,528. Saudi oil giant Aramco fell 0.67 percent, while Rabigh Refining and Petrochemical
Over 75% of the award value could flow back into the economy under ADNOC’s ICV programme
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 notched their fourth day of the week in green as oil prices continued to rise on Wednesday. TASI, the main index, closed 0.9 percent higher at 11,864 points, whereas the parallel Nomu market edged 0.3 percent lower to 20,760. Saudi Arabia was outperformed by Qatar’s QSI, which jumped as high as 3.4 percent, with its largest lender Qatar National Bank
RIYADH: Saudi stocks began the week’s final session on a positive note, recovering from a recent selloff sparked by interest rate hikes around the globe to tame inflation. The main index, TASI, started 29 percent higher at 11,808, while the parallel market, Nomu, started almost flat at 20,768 as of 10:08 a.m. Saudi time. Naseej International Trading Co. gained 5.14 percent,