Tadawul

Kingdom Holding shares dive after ‘arrest’ reports

London - Muslimchronicle

Kingdom Holding’s share price plummeted on Sunday following reports that its majority owner, Saudi billionaire Prince Alwaleed bin Talal, had been arrested. Shares in the investment firm dropped by 9.9 percent — close to the maximum 10 percent allowed on one day — at the start of trading on the Tadawul exchange in Riyadh. The Kingdom Holding stock ended theRead more

Saudi stock market ‘dominant’ player in Gulf IPOs

London - Muslimchronicle

The Saudi stock market, known as the Tadawul, remains the “dominant” Gulf player in attracting initial public offerings (IPOs), according to a report published on Sunday by PwC. The exchange attracted two of the region’s four IPOs during the third quarter of this year. The Tadawul “remained the dominant exchange” in the Gulf Cooperation Council (GCC) in terms of IPORead more

Saudi Arabia’s stock market to get major boost from FTSE index inclusion

Dubai - Muslimchronicle

In a major boost to the Saudi Arabian stock market, the Kingdom is to be included in a series of global indexes investors use to guide decisions on where to put billions of dollars' worth of funds. FTSE Russell, the index compiler owned by the London Stock Exchange, is to launch a series of stand-alone indices for Saudi markets andRead more

Market ready to stage exclusive IPO for oil giant Saudi Aramco

Riyadh - Muslimchronicle

The Saudi Arabian market authorities are confident that they have the regulatory structures and financial liquidity to list an initial public offering (IPO) of Saudi Aramco, the national oil company, exclusively on the Riyadh stock exchange, officials said yesterday at the Future Investment Initiative in the capital. Mohammed El-Kuwaiz, chairman of the Capital Markets Authority, said that the Kingdom’s experienceRead more

Saudi stock exchange wants ‘exclusive’ Aramco listing

Riyadh - Muslimchronicle

Tadawul, the Riyadh stock exchange, would like to stage an initial public offering (IPO) of Saudi Aramco on its own, rather than be part of a global offering with other markets, its chief executive said this week at the Future Investment Initiative (FII) in Riyadh. Khalid Al-Hussan told the Financial Times on the sidelines of the conference that he wantedRead more

Banque Saudi Fransi launches employee bonus probe

Riyadh - Muslimchronicle

Banque Saudi Fransi (BSF) has launched an independent investigation into alleged irregularities linked to the payment of employee bonuses. A senior director at the bank, Mohamad Abdulhadi, has retired it also emerged. The Riyadh-based bank is part-owned by the giant French lender Credit Agricole which last month said it would sell about half of its 31.1 percent stake for SR5.76Read more

Saudi stock market up after new heir named

Riyadh - AFP

The Saudi stock market was up four percent Wednesday on news that King Salman had named his powerful son as heir and that the exchange had moved closer to joining a major global index. The Saudi Tadawul index, the largest in the Middle East, surged 4.12 percent in early afternoon trading after Salman ousted his nephew as crown prince andRead more

Saudi Stock Market Closes at Ten-Session Low

Riyadh - QNA

The Index (TASI) lost 0.74 percent or 52.26 points, and closed at the level of 7,046.38 points, its lowest level in 10 sessions. The Saudi Stock Exchange (Tadawul) ended Sunday’s trading in the red zone for the fifth consecutive session. Traded values decreased by 18.33 percent to SR 3.37 billion from SR 4.14 billion on Thursday, reaching its lowest figureRead more

Tadawul sees little movement

DUBAI - Arab Today

The Saudi stock market hardly moved on Wednesday as global equities and oil prices offered little positive impetus. The Tadawul All Share Index (TASI) closed nearly flat but Etihad Atheeb Telecommunication jumped 9.4 percent in heavy trade after saying it had signed a deal with top telecommunications operator Saudi Telecom Co. to sell some of its tower network for SR230Read more

Saudi stocks rise in volatile trade

JEDDAH - Arab Today

Saudi Arabia’s stock market edged higher in volatile trade on Thursday but suffered its worst weekly decline since September. The Tadawul All-Share Index closed 0.4 percent higher at 6,922 points; it remains near a six-week low and lost 3.8 percent over the week. Investors bought shares after Brent oil futures rebounded 2.7 percent on Wednesday and traded above $55.50 onRead more