TASI

Shares of 'arrested' Saudi billionaire's company dive 9.9%

Riyadh - AFP

Shares in Kingdom Holding, 95 percent of which is owned by Saudi billionaire Prince Al-Waleed bin Talal, fell sharply Sunday after reports of his arrest. The share price of the company, which has high profile investments inside and outside Saudi Arabia, dropped 9.9 percent at the start of the week's trading. Shares are allowed to drop a maximum of 10Read more

Shares in 'arrested' Saudi billionaire's company Kingdom dive

Riyadh - Muslimchronicle

Tadawul index slips 1%

Dubai - Arab Today

The Tadawul All Share Index (TASI) slipped 1 percent on Tuesday. Some investors have been worried by the fact that many companies are reporting first-quarter earnings later than usual this year, prompting speculation that they could be preparing to announce negative surprises. However, analysts said they believed the delays were due to Saudi Arabia’s shift to International Financial Reporting StandardsRead more

Banking shares weigh on Tadawul; index falls 0.4%

Dubai - Arab Today

Banking shares weighed on the Tadawul All Share Index (TASI) on Tuesday, which fell 0.4 percent. Alawwal Bank fell 0.9 percent. Shares of Saudi Fisheries dropped 1.4 percent after reporting a first-quarter net loss of SR9.2 million ($2.45 million). Separately, the fish farmer said it had secured a SR42.8 million loan from the Saudi Industrial Development Fund (SIDF) to complete theRead more

Petrochemical shares lift Saudi bourse

Dubai - Arab Today

Rising oil prices boosted petrochemical shares in Saudi Arabia on Wednesday, which helped lift the Tadawul All Share Index (TASI) 0.9 percent higher. Yanbu National Petrochemical jumped 3.5 percent. Shares of electronics retailer United Electronics, the first company to report first quarter results, jumped 7.4 percent after the company swung to a net profit of SR12.9 million ($3.44 million). TheRead more

Tadawul edges up 0.3% in thin trading

Dubai - Arab Today

The Tadawul All Share Index (TASI) edged up 0.3 percent on Tuesday in the lowest daily traded volume since mid-September. The number of gaining and declining shares were equal at 66. Dairy and juice producer National Agriculture Development jumped 4 percent after it fell 2.1 percent the previous session. The two listed real estate investment trusts — a security, whichRead more

Saudi stocks edge up as Brent futures rebound

Dubai - Arab Today

The Tadawul All Share Index (TASI) edged up 0.1 percent on Wednesday boosted mainly by a jump in National Industrialization Company’s (Tasnee) shares. Tasnee exceeded its 10 percent daily limit in heavy trade after saying it entered into an agreement with American chemicals maker Tronox to sell its titanium dioxide business, Cristal, for $1.673 billion in cash and 37.6 millionRead more

Tadawul edges down 0.2%

Dubai - Arab Today

The Tadawul All Share Index (TASI) edged down 0.2 percent on Tuesday but telecommunications firm Zain Saudi rose 1.1 percent after it said the government had issued it a unified license allowing it to provide all telecommunications products. The Capital Market Authority (CMA) announced last October that under economic reforms to cut Saudi Arabia’s dependence on oil, the government wouldRead more

7 firms to list on 2nd Saudi stock board

Riyadh/Dubai - Arab Today

Seven companies will start trading in Saudi Arabia next Sunday on a parallel market designed to boost the role of small and medium firms, the bourse said on Monday. The new market, called Nomu, “is an alternative trading platform with lighter listing requirements compared to the main market,” the Saudi Stock Exchange, Tadawul, said on its website. Nomu requires firmsRead more

Bank shares drag Tadawul down

Dubai - Arab Today

The Tadawul All Share Index (TASI) on Tuesday fell 0.4 percent in thin trade. Banking shares were the main drag with 10 of the 12 listed banks dropping; Bank Aljazira 1020.SE was the worst performer, retreating 1.8 percent. Corporate earnings and other news from companies in Dubai helped that market rise, while Abu Dhabi was supported by earnings at UnionRead more