Latest news with #SR3.45
Arab News
24-04-2025
- Arab News
Eastern Province bus network carries 6m passengers in 3 years
More than 6 million passengers have used the public bus network in the Kingdom's Eastern Province since its introduction in 2022. Comprising 10 routes and 279 stops, the service operates 85 buses for 18 hours a day. During the recent Eid Al-Fitr holiday, it was used by about 12,500 passengers per day, the Saudi Press Agency reported. According to the municipal government, a new phase will be introduced soon that will see a fleet of environmentally buses running on seven routes in Dammam, Alkhobar, Qatif and Al-Bayda. The expansion is part of a wider plan to improve urban infrastructure, promote sustainable transport and support tourism in the region, the report said. With tickets priced from SR3.45 (92 US cents) more than 90 percent of passengers surveyed in the first quarter of this year said they were satisfied with the service. The country's public transport networks have been expanded significantly in recent years as part of the government's efforts to reduce traffic congestion and improve quality of life for people living in cities. The six-line Riyadh Metro, which opened in December and covers about 176 km, carried more than 18 million passengers in its first two months of operation. A key component of the King Abdulaziz Project for Riyadh Public Transport and Saudi Vision 2030, the system is designed to carry up to 3.6 million passengers a day. It has driverless trains, air-conditioned cabins and designated seating for different passenger groups. Riyadh also has an extensive bus network, which spans more than 1,900 km, has more than 2,860 stops and a daily capacity of 500,000 passengers.
Arab News
02-03-2025
- Business
- Arab News
Closing Bell: Saudi main index edges down 0.63% to close at 12,035
RIYADH: Saudi Arabia's Tadawul All Share Index closed lower on Sunday, dropping 76.45 points, or 0.63 percent, to settle at 12,035.45. The benchmark index's total trading volume reached SR3.45 billion ($922 million), with 37 stocks advancing and 209 declining. Nomu, the Kingdom's parallel market, gained 177.88 points, or 0.57 percent, to close at 31,582.35. Of the listed stocks, 26 advanced, while 61 saw declines. The MSCI Tadawul Index fell by 2.59 points, or 0.17 percent, to close at 1,512.22. The top performer of the day was Saudi Cable Co., whose share price surged by 5.79 percent, reaching SR131.60. Other notable performers included Elm Co., whose share price rose by 4.24 percent, closing at SR1,110, and Middle East Pharmaceutical Industries Co., which saw a 1.96 percent increase, closing at SR135.40. On the downside, SAL Saudi Logistics Services Co. experienced the largest decline, falling by 9.98 percent to SR220.20. Batic Investments and Logistics Co. also saw a significant drop of 9.76 percent, closing at SR3.05, while Al-Baha Investment and Development Co. saw its stock price fall by 7.32 percent, ending at SR0.38. On the announcements front, Saudi Tadawul Group Holding Co. reported its annual financial results for the year ending Dec. 31, 2024. The company posted a net profit of SR621.8 million, reflecting a 59.4 percent increase compared to 2023. This growth was driven by a 34.8 percent rise in operating revenues, an 18.3 percent increase in operating expenditures, a 59.4 percent increase in earnings per share, a 50.3 percent rise in gross profit, and a 72.4 percent jump in operational profit. Saudi Tadawul Group Holding Co. ended the session at SR213, down 0.47 percent. Retal Urban Development Co. also reported its annual results for the year ending Dec. 31, 2024. The company posted a net profit of SR266.12 million in 2024, marking a 31.51 percent increase from the previous year. This increase was driven by a 32 percent rise in gross profit to SR499.65 million, along with a surge in equity-accounted investment results, totaling SR71.10 million. This performance came despite higher general and administrative expenses and increased finance costs. Retal Urban Development Co. ended the session at SR16.06, up 0.25 percent. Al-Rajhi Co. for Cooperative Insurance announced its financial results for the year ending December 31, with a net profit of SR332.3 million in 2024, reflecting a 1.3 percent increase compared to 2023. The increase is attributed to higher insurance service results before Re-takaful and a decrease in insurance service results for the year, alongside an uptick in operating expenses, a drop in total comprehensive income, and a rise in gross written premiums. Al-Rajhi Co. for Cooperative Insurance closed at SR165, down 2.04 percent. Shatirah House Restaurant Co. (BURGERIZZR) reported its financial results for the year ending Dec. 31, 2024, showing a net profit of SR8.44 million, a decrease of 31.25 percent compared to 2023. Despite a 7.3 percent increase in gross profit, the decline in net profit was attributed to a 10 percent rise in selling expenses, a 26.9 percent increase in administrative expenses, and other factors. Shatirah House Restaurant Co. closed the session at SR21.50, down 2.85 percent.
