ABU DHABI: The Saudi Agriculture and Livestock Investment Company (SALIC) is establishing a Dh5-billion joint venture with UAE agricultural firm Al Dahra to invest in the Black Sea region, the Saudi livestock firm’s chief executive said.
The joint venture will invest across 10 countries in the Black Sea and will be made via acquisitions in grains and livestock, Abdullah Aldubaikhi said during a UAE-Saudi business forum in the UAE capital on Tuesday.
“It is part of the food security strategy,” Aldubaikhi said.
Al Dahra, owned mainly by Abu Dhabi investors, partners with the UAE government for its food security program. SALIC said investments would include Russia, Ukraine, Romania, Belarus, Hungary and Bulgaria.
“Investing in agriculture abroad is very important for Saudi Arabia to compensate for the grains not being produced locally, we are part and parcel of this strategy,” Aldubaikhi said.
The announcement comes days after King Salman of Saudi Arabia met Russian President Vladimir Putin in Moscow, agreeing joint investment deals worth several billion dollars.
SALIC last week said it was considering investing in a Russian grain producer owned by Russian conglomerate Sistema and members of the Louis-Dreyfus family.
Saudi livestock firm SALIC in Dh5 billion joint venture with UAE’s Al Dahra
Saudi livestock firm SALIC in Dh5 billion joint venture with UAE’s Al Dahra
Closing Bell: Saudi main index closes in red at 11,183
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.
The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.
The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.
The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.
The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.
Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.
On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.
Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.
On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.
In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”
Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.
The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.
