Latest news with #SR4.27
Saudi Gazette
30-07-2025
- Business
- Saudi Gazette
Saudi Arabia to unveil national media strategy soon, says minister
Saudi Gazette report RIYADH — Minister of Media Salman Al-Dosari confirmed on Wednesday that Saudi Arabia has not yet launched its official media sector strategy, stating that the national media strategy remains under review and will be formally announced in due course. Speaking during the government press conference in Riyadh, Al-Dosari said the Saudi media landscape is evolving from merely relaying news to creating impact, emphasizing that the sector is moving "from medium to message." He also announced that the upcoming edition of the Saudi Media Forum will be held under the patronage of King Salman bin Abdulaziz, positioning it as a national platform aligned with global media momentum and future-focused tools. '2030 is no longer a date in the future, it symbolizes limitless ambition. In Saudi Arabia, dreams aren't told, they're built. Tomorrow doesn't wait; it's accomplished today,' Al-Dosari added. Highlighting the Kingdom's humanitarian role, the minister noted that Saudi Arabia is transforming its aid initiatives into a sustainable humanitarian system. Since its inception, the King Salman Humanitarian Aid and Relief Center (KSrelief) has delivered more than SR30 billion in aid to 108 countries through over 3,500 development and relief programs. Al-Dosari also revealed that around 230,000 surgeries have been performed under Saudi Arabia's overseas voluntary medical campaigns. Meanwhile, the Saudi Program for the Development and Reconstruction of Yemen has provided over SR4.27 billion in funding for more than 265 projects across key sectors including roads, water, health, and education. Turning to technology and innovation, Al-Dosari said Saudi Arabia sees sustainable development as a transnational responsibility. 'We are crafting the algorithms of the future, turning data into decisions and artificial intelligence into development,' he noted. Saudi Arabia's digital economy reached SR495 billion in 2024, accounting for 15% of GDP and growing at an annual rate of nearly 7%. The number of tech companies listed on the Saudi stock exchange has also surged to 23 in 2024, up from just two in 2020. 'Today, we don't just consume technology, we contribute to building it with a value-driven and human-centered vision,' Al-Dosari said.
Arab News
27-04-2025
- Business
- Arab News
Closing Bell: Saudi main index slips to close at 11,756
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Sunday, losing 8.18 points, or 0.07 percent, to close at 11,756.21. The total trading turnover of the benchmark index was SR4.27 billion ($1.13 million), as 154 of the stocks advanced and 86 retreated. The Kingdom's parallel market, Nomu, also lost 28.57 points, or 0.10 percent, to close at 28,570.03. This comes as 41stocks advanced while 48 retreated. The MSCI Tadawul Index lost 3.03 points, or 0.20 percent, to close at 1,497.68. The best-performing stock of the day was Al-Baha Investment and Development Co., whose share price surged 9.94 percent to SR3.87. Other top performers included Saudi Reinsurance Co., whose share price rose 9.83 percent to SR48.05, as well as Anaam International Holding Group, whose share price surged 9.33 percent to SR18.74. Mobile Telecommunication Co. Saudi Arabia recorded the most significant drop, falling 4.15 percent to SR12.46. Arabian Internet and Communications Services Co. also saw its stock prices fall 3.66 percent to SR300. Derayah Financial Co. also saw its stock prices decline 2.91 percent to SR30.05. On the announcements front, SABIC Agri-Nutrients Co. announced its interim condensed consolidated financial results for the period ending on March 31. According to a Tadawul statement, the firm reported a net profit of SR985 million in the first quarter of 2025, reflecting a 17.12 percent surge compared to the same quarter in 2024. This increase is mainly due to a 22 percent rise in sales, an increase in the share of results from an associate and a joint venture; yet, it was limited by a jump in the cost of goods sold mainly due to the increase in primarily feedstock costs. SABIC Agri-Nutrients Co. ended the session at SR105.40, down 0.58 percent. Bank Albilad has also announced its interim condensed consolidated financial results for the first three months of 2025. A bourse filing revealed that the company reported a net profit of SR700.4 million in the period ending March 31, up 8.9 percent compared to the corresponding quarter a year earlier. This rise in net profit is primarily attributed to an increase in net income from investing and financing assets, net exchange income, and net fee and commission income. Bank Albilad ended the session at SR29.40, up 0.51 percent. Saudi Awwal Bank has also announced its interim financial results for the period ending on March 31. According to a Tadawul statement, the firm reported a net profit of SR2.13 billion in the first quarter of 2025, reflecting a 4.5 percent rise compared to the same quarter in 2024. This increase is mainly linked to a rise in total operating income. This was partially offset by an increase in net provision for expected credit losses, and total operating expenses. Saudi Awwal Bank ended the session at SR35.90, up 0.28 percent. Arab National Bank announces its interim financial results for the first three months of 2025. A bourse filing revealed that the company reported a net profit of SR1.3 billion in the period ending March 3, up 5.5 percent compared to the corresponding quarter a year earlier. Arab National Bank ended the session at SR22.32, down 1.35 percent. Saudi Tadawul Group Holding Co. announced its interim financial results for the period ending on March 31. According to a Tadawul statement, the firm reported a net profit of SR120.5 million in the first quarter of 2025, reflecting a 40.19 percent drop compared to the same quarter in 2024. This decrease is mainly linked to a decline in operating revenues, a rise in operating expenditures, and a drop in earnings per share, as well as a reduction in gross profit coupled with a drop in operational profit. Saudi Tadawul Group Holding Co. ended the session at SR194.00, down 1.63 percent. Saudi Telecom Co. has announced that it will distribute SR2.74 million in interim dividends to the shareholders for the first quarter of 2025. According to a Tadawul statement, the total number of shares eligible for dividends amounted to 4.98 billion, with the dividend per share standing at SR0.55. The statement also revealed that the dividend percentage to the share par value stood at 5.5 percent. Saudi Telecom Co. ended the session at SR48.00, up 0.21 percent.
