RIYADH: Saudi Arabia’s Ministry of Finance has kicked off a tour for foreign investors in Riyadh today ahead of the 2020 Budget Forum on Dec. 10.
Twenty two international investment companies from Taiwan, the US, the UK, Malaysia, Indonesia, Japan, Hong Kong, Germany and France have been invited to visit some of the Kingdom’s top non-oil based companies.
The group includes a number of international investment companies, insurers and asset managers, including Goldman Sachs, Mayfair Bank, Etiqa Insurance and Nippon Life Insurance Company among others.
Saudi banks such as SAAB, Samba, NCB, Bank AlJazira and Alinma Bank are also in attendance.
Among the sites visited by the delegation are the Riyadh Metro, where the group got a glimpse of the bus and train systems that are due to launch mid-2020.
The tour also takes in Al-Turaif UNESCO heritage site, and Qiddiya, the entertainment mega project under development in Riyadh.
Saudi finance ministry hosts foreign investors ahead of budget
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Saudi finance ministry hosts foreign investors ahead of budget
- Twenty two international investment companies are being shown around some of the Kingdom’s top non-oil based companies
- Saudi banks such as SAAB, Samba, NCB, Bank AlJazira and Alinma Bank are also in attendance
Closing Bell: Saudi main market ends week in red at 11,189
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower at the end of the trading week on Thursday, falling 1.34 percent, or 152.54 points, to finish at 11,188.73.
The benchmark index opened at 11,320.52 and trended lower throughout the session, finishing well below its previous close of 11,341.27.
Market breadth was sharply negative, with only 28 gainers compared with 236 decliners. Trading activity saw a volume of 239 million shares exchanged, with total turnover reaching SR5.5 billion ($1.47 billion).
In the parallel market, Nomu closed higher, rising 0.23 percent to 23,865.95, although decliners continued to outnumber advancers. The MT30 index closed at 1,508.60, down 1.46 percent, shedding 22.38 points by the end of the session.
Among the session’s top gainers, Dar Al Majed Real Estate Co. led advances, rising 5.43 percent to close at SR9.91.
Al Aziziah REIT Fund added 4.67 percent to SR4.48, while Al Majed Oud Co. gained 2.81 percent to SR161.20. AFG International Co. advanced 2.45 percent to SR17.17, and Al Mawarid Manpower Co. rose 1.37 percent to SR125.70.
On the losing side, Saudi Research and Media Group posted the steepest decline, falling 6.88 percent to SR107. Cherry Trading Co. dropped 6.23 percent to SR28.88, while Saudi Arabian Mining Co. slipped 5.41 percent to SR72.55.
Almasane Alkobra Mining Co. declined 5.38 percent to SR102, and Power and Water Utility Co. for Jubail and Yanbu ended 4.56 percent lower at SR31.36.
On the announcements front, Saudi Industrial Investment Group released its interim financial results for the twelve-month period ended Dec. 31, 2025, reporting a return to profitability on an annual basis despite posting a quarterly loss.
The company recorded a net loss of SR104 million in the fourth quarter, compared with a net profit of SR201 million in the same quarter of the previous year, which it attributed mainly to lower selling prices, higher operating costs, and increased general and administrative expenses.
For the full year, however, the group posted a net profit attributable to shareholders of SR197 million, compared with SR161 million a year earlier, supported by higher sales volumes and improved operational performance at several subsidiaries. The stock last traded at SR14.77, down 3.59 percent.
Separately, Saudi Exchange Co. announced the approval of a request by Merrill Lynch Kingdom of Saudi Arabia to terminate its market-making activities for Saudi Arabian Oil Co., effective Feb. 8.
The exchange said the termination relates specifically to the market-making agreement for Saudi Aramco shares and was approved in line with applicable market-making regulations.
