Arab News, Thursday, Aug 25, 2022 | Muharram 26, 1444
Here’s what you need to know before Tadawul trading on Thursday
Saudi Arabia: Saudi Arabia’s stock
market rebounded on Wednesday, tracking a recovery in oil prices as they
surpassed $100 a barrel.
TASI edged 0.2 percent higher to 12,443, while the
parallel Nomu market added 0.3 percent to end at 21,633.
Likewise, the stock exchanges of Qatar and Dubai
advanced by 0.4 and 0.9 percent, respectively.
Abu Dhabi, Oman, and Kuwait finished lower, while
the Bahraini index closed almost flat.
The rebound in the oil market came on the back of
hopes that OPEC could consider supply cuts to support prices amid fears over a
global economic slowdown.
Brent crude rose to $101.97 a barrel, while US
West Texas Intermediate traded higher at $95.38 a barrel as of 9:01 a.m. Riyadh
time on Thursday.
Kingdom Holding Co. saw its profits skyrocket by
1,162 percent to SR6.35 billion ($1.7 billion) in the first half of 2022
Al Moammar Information Systems Co.'s profits for
the first half of 2022 slightly dropped by 6 percent to SR21 million
Alandalus property Co. declared an interim cash
dividend of SR0.25 per share for the first half of 2022
Al Gassim Investment Holding Co.'s losses widened
by 147 percent to SR782,647 during the first half of 2022
Raydan Food Co.’s accumulated losses reached 53.2
percent of capital, representing SR337 million, by June end. In the first half
of 2022, its losses widened by 62 percent to SR22 million
Al-Babtain Power and Telecommunication Co. posted
lower profits of SR20 million, despite a rise in revenues in the first half of
PIF-owned Elm Co. was awarded an SR58 million
contract from the Ministry of Interior
The Saudi stock exchange approved the listing of
SR3.09 billion worth of government debt instruments submitted by the Ministry of
National Building and Marketing Co. reported a 27
percent profit jump to SR31.8 million for the first half of 2022
Scientific & Medical Equipment House Co. posted a
31 percent drop in its first-half profit to SR16.4 million
Tabuk Agricultural Development Co.’s losses
deepened by 10 percent to SR28 million in the first half of 2022
Fitaihi Holding Group saw its net profit drop by
86 percent to SR21 million during the first half of 2022
August 25, 2022
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