MANCHESTER: British Prime Minister Boris Johnson on Saturday said Brexit was a “massive economic opportunity” but had been treated under his predecessor Theresa May as “an impending adverse weather event.”
In a speech in Manchester where he pledged new investment in Leave-voting areas, Johnson promised to step up negotiations on post-Brexit trade deals and set up free ports to boost the economy.
“When people voted to leave the European Union, they were not just voting against Brussels, they were voting against London too,” he said.
Johnson promises to give more powers to local communities, as well as boost broadband and transport infrastructure in a speech focused on domestic issues.
“Taking back control doesn’t just apply to Westminster regaining sovereignty from the EU, it means our cities and counties and towns becoming more self governing,” he said.
“Leaving the EU is a massive economic opportunity to do things we’ve not been allowed to do for decades,” he said.
Asked about the prospect of Brexit negotiations, Johnson said he was willing to engage with EU partners but only if the backstop clause was removed from the current divorce agreement struck by May.
The backstop seeks to ensure a free-flowing post-Brexit border between British Northern Ireland and the Republic of Ireland, an EU member state, in all eventualities.
“The approach of the UK government is not going to be disengaged or aloof or waiting for them to come to us, we are going to try to solve this problem,” he said.
“We can’t do it as long as that anti-democratic backstop, that backstop that seeks to divide our country, divide the UK, remains in place. We need to get it out and then we can make progress.”
Brexit is a ‘massive economic opportunity’: PM Johnson
Brexit is a ‘massive economic opportunity’: PM Johnson
- Johnson promised to step up negotiations on post-Brexit trade deals and set up free ports to boost the economy
- Johnson promises to give more powers to local communities, as well as boost broadband and transport infrastructure
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.
