Closing Bell: Saudi main index closes in green at 11,438
RIYADH: Saudi Arabia's Tadawul All Share Index rose on Tuesday, gaining 32.90 points, or 0.29 percent, to close at 11,438.18.
The total trading turnover of the benchmark index was SR4.85 billion ($1.29 billion), as 132 of the listed stocks advanced, while only 106 retreated.
The MSCI Tadawul Index increased by 0.40 points, or 5.86 percent, to close at 1,460.79.
The Kingdom's parallel market Nomu rose, gaining 28.91 points, or 0.11 percent, to close at 27,528.56. This comes as 31 of the listed stocks advanced, while 42 retreated.
The best-performing stock was MBC Group Co., with its share price surging by 6.01 percent to SR45.
Other top performers included National Gypsum Co., which saw its share price rise by 4.49 percent to SR21.42, and Zamil Industrial Investment Co., which saw a 4.19 percent increase to SR46.05.
The worst performer of the day was Etihad Atheeb Telecommunication Co., whose share price fell by 4.55 percent to SR100.80.
Saudia Dairy and Foodstuff Co. and CHUBB Arabia Cooperative Insurance Co. also saw declines, with their shares dropping by 2.66 percent and 2.53 percent to SR285 and SR36.60, respectively.
On the announcements front, Alinma Bank has confirmed the commencement of its offering of US dollar-denominated Sustainable Additional Tier 1 Capital Certificates under its Additional Tier 1 Capital Certificate Issuance Program.
The offering, which began on May 20, is directed at eligible investors in the Kingdom and internationally, according to a Tadawul statement. The certificates, with a minimum subscription of $200,000, are perpetual and callable after 5.5 years, with terms and pricing subject to market conditions.
The statement added that the certificates will be listed on the London Stock Exchange's International Securities Market.
In today's trading session, ALINMA's share price traded 0.55 percent higher on the main market to reach SR27.55.
Moreover, Asas Makeen Real Estate Development and Investment Co. continued receiving subscription requests for 1 million ordinary shares, equivalent to 10 percent of its capital, at a price of SR80 per share. The offering, approved by the Capital Market Authority, runs from May 19 to 25 on the Nomu parallel market. The company aims to expand its investor base and attract capital to support sustainable growth, with its managed projects exceeding SR3.75 billion in value.
Meanwhile, Al-Khozama Investment Co. is accepting subscription requests for 422,400 ordinary shares, which is equivalent to 10.71 percent of its shares on Nomu until May 22, priced between SR99 and SR107 per share. The offering targets qualified investors and supports the company's long-term expansion in Saudi Arabia's hospitality and food and beverage sector.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Asharq Al-Awsat
17 minutes ago
- Asharq Al-Awsat
Saudi Arabia Opens Direct Communication Channel with Businesses to Overcome Investment Hurdles
Asharq Al-Awsat learned that Saudi Arabia's Ministry of Investment is launching a new service to strengthen its relationship with national businesses by providing them with direct access to a suite of investment-related services. The initiative will assign each company a dedicated relationship manager, who will serve as the main point of contact to streamline access to government programs and services. These include the Strategic Investor initiative, the enhanced services program 'Meyza,' the Alignment Platform, and various services offered by government entities at the Business Center. The move is part of the Kingdom's broader effort to create a more dynamic and investor-friendly environment as outlined in the National Investment Strategy, launched in 2021 by Prince Mohammed bin Salman, Crown Prince and Prime Minister. The strategy targets more than SAR 12 trillion ($3.2 trillion) in investments into the local economy by 2030. This includes SAR 5 trillion through the Shareek program, SAR 3 trillion in local investments by the Public Investment Fund, and SAR 4 trillion in contributions from domestic and international companies operating under the strategy's framework. The ministry has notified private sector companies that the new service will also serve as a platform to receive feedback, suggestions, and observations regarding regulations, business procedures, and related challenges. Additionally, businesses will receive invitations to take part in relevant events organized by the Ministry. The initiative reflects the Ministry's responsibility to manage Saudi Arabia's investment environment, provide facilitation and support for investors, and elevate the competitiveness of the Kingdom's economy. Efforts focus on expanding operational scope, boosting competitiveness, and removing barriers that hinder business performance. In the first quarter of 2025, the ministry reported significant progress, including the issuance of 44 regional headquarters licenses, resolution of 38 investor-related challenges, and the processing of over 1,000 investor visa services. More than 55,000 digital services were also delivered through the Ministry's website. In parallel with these operational upgrades, the ministry is actively pursuing legislative and regulatory reforms to foster a secure and competitive investment climate. One major development has been the establishment of the Saudi Investment Promotion Authority, which coordinates public and private efforts to position the Kingdom as a leading global investment destination. Recent legal reforms include the implementation of new executive regulations for the commercial registry system. Under these changes, businesses now operate under a single commercial license for all their activities across the Kingdom, eliminating the need for sub-licenses and reducing financial burdens. Additionally, new regulations for commercial names aim to streamline the name reservation and registration process, enhance their value, and ensure proper legal protection. The Ministry of Commerce has also introduced a mechanism to allow existing businesses to regularize their trade names in line with the updated regulations.
Asharq Al-Awsat
17 minutes ago
- Asharq Al-Awsat
Ford Expands Regional Operations from Riyadh, Strengthens Agility to Accelerate Growth
Ford Motor Company is reinforcing its presence in the Middle East and North Africa by expanding its operations from Riyadh and reintegrating North African markets under regional oversight. The move is part of a broader strategy to enhance the company's operational flexibility and drive faster growth across the region. Ravi Ravichandran, President of Ford Middle East and North Africa, told Asharq Al-Awsat that the decision coincides with the expansion of Ford's Riyadh office, which now includes specialized teams tasked with supporting the diverse needs of regional markets, including Qatar and the Levant. According to Ravichandran, Ford's offices in Riyadh and Dubai now manage a wide array of functions -ranging from sales and marketing to environmental compliance, safety, and after-sales services. This integrated approach supports the company's strong regional network and aligns with its long-term vision for sustainable growth. Commenting on the tariffs imposed during US President Donald Trump's administration on imported vehicles, Ravichandran noted that Ford is still evaluating their potential impact on the regional auto sector. He stressed that it was too early to assess the full effect, adding that Ford's resilience and long-standing investment in American manufacturing innovation give confidence in the company's ability to adapt to evolving trade policies. He stated that while no specific strategic actions have been taken yet to offset the effects of the tariffs or trade tensions, the company remains focused on monitoring developments and maintaining operational agility. Ford recorded a 23% increase in sales during the first quarter of 2025, marking its strongest performance since October 2015 and its best in March since 2014. Ravichandran attributed the surge to strong market dynamics, increased consumer demand, and a well-balanced vehicle lineup, including the Taurus, Territory, Everest, and Ranger, along with Lincoln models such as the Nautilus and Corsair. These results build on the momentum we generated in 2024, when the company achieved its highest annual sales since 2016, he said. He credited this success to Ford's commitment to its partners, robust dealer network, and engaged regional teams. He also highlighted the company's growing focus on customer experience through initiatives such as online service scheduling, mobile service vans, and a new parts distribution center in Dubai, which has increased capacity by 20% and improved parts availability across the region. Ravichandran emphasized the key role Gulf markets play in Ford's regional growth, with Saudi Arabia and the UAE leading in sales. He noted that Saudi Arabia delivered the highest volumes, followed by the UAE, supported by Ford's rigorous testing processes under the region's harsh desert conditions. Looking ahead, Ravichandran expressed optimism about the electric vehicle (EV) market, citing increasing consumer interest, government incentives, and growing infrastructure readiness. As part of its regional electrification strategy, Ford plans to introduce models such as the Mustang Mach-E, the hybrid Territory, and the F-150 hybrid. While acknowledging challenges such as heightened competition and global supply chain disruptions, Ravichandran said Ford remains focused on agility, innovation, and responsiveness. 'With our strengthened presence in Riyadh and Dubai and the support of our dealer network, we're confident in our ability to continue meeting customer needs and driving long-term growth,' he concluded.
Al Arabiya
39 minutes ago
- Al Arabiya
US envoy to Israel says France can ‘carve' Palestinian state out of French Riviera
The US ambassador to Israel Mike Huckabee has lashed out at France's advocacy for recognition of a Palestinian state, saying that if it supported such an outcome it could 'carve out a piece of the French Riviera' and create one. France is co-chairing with Saudi Arabia this month an international conference at the United Nations aimed at resurrecting the idea of a two-state solution, which the government of Israeli Prime Minister Benjamin Netanyahu opposes. Paris has also said it could recognize a Palestinian state itself this year. In an interview with Fox News published on Saturday, Huckabee called the initiative at the UN 'incredibly inappropriate when Israel is in the midst of a war.' 'October 7 changed a lot of things,' he said, referring to the 2023 Hamas attack on Israel that sparked the war in Gaza. 'If France is really so determined to see a Palestinian state, I've got a suggestion for them -- carve out a piece of the French Riviera and create a Palestinian state. They are welcome to do that, but they are not welcome to impose that kind of pressure on a sovereign nation.' Israel on Friday accused French President Emmanuel Macron of undertaking a 'crusade against the Jewish state' after he called for European countries to harden their stance on Israel if the humanitarian situation in Gaza did not improve. The day before, Israel announced the creation of 22 new settlements in the West Bank, with Defense Minister Israel Katz later vowing to build a 'Jewish Israeli state' in the occupied territory. The settlements are regularly condemned by the United Nations as illegal under international law, and are seen as a major obstacle to the two-state solution. But Huckabee, a staunch advocate for Israel, has said there is 'no such thing as an occupation' when it comes to the Palestinian territories.
