Latest news with #SaudiReinsurance
Arab News
2 days ago
- Business
- Arab News
Closing Bell: Saudi main index ends lower at 10,899
RIYADH: Saudi Arabia's Tadawul All Share Index declined on Sunday, losing 31.19 points, or 0.29 percent, to close at 10,899.11. The total trading turnover of the benchmark index stood at SR3.51billion ($935.8 million), with 77 listed stocks advancing and 169 declining. The Kingdom's parallel market Nomu also dropped 199.33 points to close at 26,449.38 The MSCI Tadawul Index slightly edged up by 0.03 percent to reach 1,407.12. The top performer on the main market was Red Sea International Co., whose share price rose 10 percent to SR42.24. The share price of Tamkeen Human Resource Co. increased 7.94 percent to SR57.1. Saudi Reinsurance Co. saw its stock price increase by 5.91 percent to SR47.66. Jahez International Co. for Information System Technology witnessed a drop in its share price by 10 percent to SR25.02. The company's share price decreased following the announcement that its net profit for the second quarter fell 21.9 percent year on year to SR23.6 million, down from SR30.2 million in the same quarter last year. In corporate announcements, Zamil Industrial Investment Co. posted a net profit of SR25.28 million in the second quarter, a 314.5 percent increase from SR6.1 million in the same quarter in 2024. The company attributed the rise in quarterly profit to higher sales across its air conditioning, steel, and insulation sectors, which drove a 25.7 percent increase in gross profit. This was further supported by a SR1.5 million rise in share of results from associates and joint ventures, lower financial charges by SR4.7 million, and a SR6.9 million reduction in zakat and income tax expenses. The company's share price closed 0.51 percent higher at SR39.80. United International Transportation Co., known as Budget Saudi, reported a net profit of SR85.63 million in the second quarter, up 20.8 percent from SR70.87 million last year. The company attributed the quarterly increase in profit to higher revenues driven by growth in its rental and lease fleet, improved operational efficiency, and stronger cost control measures, which boosted gross and operating margins. The company's share price ended 2.04 percent lower at SR72.20.
Arab News
29-05-2025
- Business
- Arab News
Closing Bell: Saudi main index closes in red at 10,990
RIYADH: Saudi Arabia's Tadawul All Share Index slipped on Thursday, as it shed 62.35 points, or 0.56 percent, to close at 10,990.41. The total trading turnover of the benchmark index was SR10.20 billion ($2.72 billion), with 169 of the listed stocks advancing and 74 declining. The Kingdom's parallel market Nomu also dropped 123.20 points to close at 26,809.75. The MSCI Tadawul Index declined by 0.70 percent to 1,403.80. The best-performing stock on the main market was Saudi Reinsurance Co. The firm's share price soared by 9.31 percent to SR50.50. The share price of East Pipes Integrated Co. for Industry increased by 7.83 percent to SR124. Arabian Drilling Co. also saw its stock price edging up by 5.12 percent to SR84.20. Conversely, the share price of Makkah Construction and Development Co. declined by 5.65 percent to SR96.80. On the announcements front, Al Moammar Information Systems Co., also known as MIS, said that it signed a contract valued at SR58.93 million with the Saudi Data and Artificial Intelligence Authority to operate and maintain the National Unified Visa Platform. In a Tadawul statement, the company stated that the contract is valid for 36 months, with no related parties involved in the deal. MIS added that the contract is expected to have an impact on the company's financial results starting from the third quarter of this year. The share price of MIS rose by 1.66 percent to SR134.80. Al Kathiri Holding Co. said that its subsidiary, Saraya Al Diyar Investment Co., has entered into a long-term lease agreement valued at SR143.1 million with the Aseer Municipality to build and operate a mixed-use hotel and commercial complex in Abha. Under the deal, Saraya Al Diyar Investment Co. will establish a four-star hotel with 180 keys, as well as retail and entertainment facilities in the project that spans a total area of 53,000 sq. meters. The new contract is in line with Al Kathiri Holding's strategic direction to diversify its investment portfolio and expand into promising, high-impact sectors, aligning with the goals of Saudi Vision 2030, the company said in the statement. Al Kathiri Holding Co.'s share price was unchanged at SR2.08 by the end of Thursday's trading.
Arab News
22-05-2025
- Business
- Arab News
Closing Bell: Saudi main index ends lower at 11,188
RIYADH: Saudi Arabia's Tadawul All Share Index closed in the red on Thursday, falling 114.94 points, or 1.02 percent, to settle at 11,188.74. The total trading turnover reached SR4.4 billion ($1.17 billion), with 76 stocks advancing and 165 declining. The MSCI Tadawul 30 Index also dropped, losing 12.2 points, or 0.85 percent, to close at 1,428.81. The Kingdom's parallel market Nomu declined by 156.89 points, or 0.57 percent, to close at 27,260.73, with 29 stocks gaining and 49 retreating. The best-performing stock of the day was Saudi Reinsurance Co., rising 3.70 percent to SR49. Other top gainers included Al-Rajhi Company for Cooperative Insurance, whose share price rose 3.65 percent to SR119.2, and Umm Al-Qura Cement Co., which gained 3.42 percent to SR17.54. The day's largest decline was seen in SHL Finance Co., with its share price dipping 4.93 percent to SR19.30. Al-Etihad Cooperative Insurance Co. saw its shares drop 3.86 percent to SR13.44, while Saudi Arabian Oil Co. declined 3.64 percent to SR25.15. The best performer on the Kingdom's parallel market was Enma AlRawabi Co., with its share price surging by 7.77 percent to reach SR24.98. Lamasat Co.'s share price increased by 7.58 percent to reach SR7.1, and Natural Gas Distribution Co. reached SR47, increasing by 6.82 percent. Albattal Factory for Chemical Industries Co. was the worst performer on the parallel market, declining 16.83 percent to reach SR42.
