Saturday, November 27

Business

Saudi Stock Exchange Main Index Ends Trading Lower at 11,299 Points

Business
Riyadh, Saudi Stock Exchange's main index ended trading lower here today, losing 69.93 points to close, at 11,299.45 points.The total value of the trading reported was SAR 5.5 billion, while the toll of shares traded was more than 140 million, divided into over 270,000 deals.The Saudi Parallel Equity Market Index (NOMU) ended the day losing 163.71 points, to close at 23,164.54 points, with a valuation of SAR 21 million and an overall tally of 340,000 stocks traded and divided into as many as 1,598 deals.Source: Saudi Press Agency

Tatarstan President Visits Jeddah Chamber

Business
Jeddah, President Rustam Minnikhanov of the Republic of Tatarstan and the accompanying delegation paid today a visit to Jeddah Chamber on the sidelines of his participation in the meeting of the Group of Strategic Vision (GSV) "Russia - Islamic World", under the theme "Dialogue and Prospects for Cooperation".Upon arrival at the venue, he was received by the Chairman of the Board of Directors of Jeddah Chamber, Mohammed bin Yousef Naghi and a number of the Chamber's members.The President of Tatarstan expressed his deep thanks to Jeddah Chamber for receiving his, stressing his keenness to develop trade and economic relations between his country and the Kingdom of Saudi Arabia within the framework of adopting agricultural projects, petrochemical products, food sectors, industries and other t...

Bahrain Two Main Indexes End Trading Lower

Business
Manama, The Bahrain General Index ended trading here today at 1,786.84, losing 6.68 points compared to the previous closing. The Bahrain Islamic Index ended trading at 734.02 level, losing 10.45 points compared to the last closing.The tally of the shares traded was 2,879,072, with a total value of 597,561 Bahraini Dinar, carried out through 89 deals.Source: Saudi Press Agency

Minister of Industry and Mineral Resources Visits Saudi Pavilion at Expo Dubai 2020

Business
Dubai, Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, visited Expo 2020 Dubai.During his tour of the Expo, he was briefed on the pavilion of the Kingdom of Saudi Arabia, which includes a number of various programs and activities that reflect the civilized and cultural image of the Kingdom represented in four main parts, including nature, people, heritage and investment opportunities.The Saudi pavilion, which covers an area of 13,000 square meters, continues until March2022, and is the second largest pavilion after the pavilion of the United Arab Emirates.Source: Saudi Press Agency

Economist: Basra-Aqaba Oil Pipeline Will Cost Iraq A Sustainable Loss Of $4.9 Billion Annually

Business
Baghdad The specialist in economic crisis management, Ali Jabbar Al-Fraiji, confirmed that Iraq pays the value of the Iraqi crude oil pipeline project from Basra - Aqaba and loses a third of its ownership to Jordan, adding to it a sustainable loss of $4.9 billion annually.Al-Fraiji said in a statement to the National Iraqi News Agency / NINA / that "Iraq needs this diversity in oil export channels and outlets by extending oil pipelines with Jordan, Saudi Arabia, Iran, Turkey, Syria...etc, but this economic vision must be governed by a number of factors, including the size of the benefit from each pipeline, will it be useful as revenues for the state treasury in the long run, and is it possible to ensure balanced political and economic relations with these countries, among other important f...

Saudi Fund for Development Delegation Concludes Visit to Gambia after Launching Projects

Business
A delegation of Saudi Fund for Development (SFD) has wrapped up a visit to the Gambia after inaugurating a $31 million SFD-funded project to rehabilitate and develop Banjul International Airport, to raise the airport’s operational capacity by 43% and enhance the prospects for economic exchange and improve the living standards of more than two million beneficiaries.SFD CEO, Sultan bin Abdulrahman Al-Murshed, and the Gambian Vice President Isatou Touray laid the foundation stone for a project to establish a VIP lounge at the airport, worth $10.5 million, to provide the necessary infrastructure to host official delegations and hold international conferences, as well as a $50 million road infrastructure project in the capital, Banjul, covering 51 km of main and sub-main roads, to help address ...