DUBAI: Saudi Arabia recorded an increase in its communication-related industries in 2020, a government regulator said, owing to a wider national campaign to improve connectivity across the Kingdom.
Saudi Arabia’s telecommunications, information technology (IT), and postal markets were valued at SR246 billion ($65.6 billion) in 2020, according to data from the Communications and Information Technology Commission (CITC), the Saudi Press Agency said.
The Kingdom’s telecommunications market reached SR70 billion in the same period, with Mohammed bin Saud Al-Tamimi, CITC’s governor, describing it as the most developed in the Middle East and North Africa region.
The information technology market was valued at SR64 billion, while the postal market stood at SR6.4 billion, the governor revealed at the annual Information and Communications Technology (ICT) Indicators Forum in Riyadh.
Al-Tamimi said the Kingdom’s IT and postal sectors account for 5.5 percent of the Kingdom’s GDP.
Saudi Arabia has been investing heavily in its digital infrastructure as it seeks to diversify its income sources, veering away from oil dependence.
Saudi telecom, information technology, and postal markets hit $65.6bn in 2020
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Saudi telecom, information technology, and postal markets hit $65.6bn in 2020
- The Kingdom’s telecommunications market reached SR70 billion in 2020
Closing Bell: Saudi main market sheds 85 points to finish at 11,098
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower in the latest session, falling 85.79 points, or 0.77 percent, to finish at 11,098.06.
The MSCI Tadawul 30 Index declined 0.63 percent to close at 1,495.23, while the parallel market index Nomu dropped 0.91 percent to 23,548.56.
Market breadth was firmly negative, with 42 gainers against 218 decliners on the main market. Trading activity saw 226 million shares exchanged, with total turnover reaching SR4.5 billion ($1.19 billion).
Among the session’s gainers, Tourism Enterprise Co. rose 9.40 percent to SR15.02. SHL Finance Co. advanced 4.51 percent to SR16.00, while Almasar Alshamil for Education Co. gained 3.56 percent to SR23.88.
Dar Alarkan Real Estate Development Co. added 3.03 percent to SR19.70, and Banque Saudi Fransi climbed 2.61 percent to SR19.30.
On the losing side, Almasane Alkobra Mining Co. recorded the steepest decline, falling 6.61 percent to SR96.
Al Moammar Information Systems Co. dropped 5.14 percent to SR164.20, while National Company for Learning and Education declined 4.60 percent to SR124.30. Saudi Ceramic Co. slipped 4.14 percent to SR27.30, and Arabian Contracting Services Co. fell 4.12 percent to SR116.50.
On the announcement front, Saudi Telecom Co. announced the distribution of interim cash dividends for the fourth quarter of 2025 in line with its approved dividend policy.
The company will distribute SR2.74 billion, equivalent to SR0.55 per share, to shareholders for the quarter.
The number of shares eligible for dividends stands at approximately 4.99 billion shares. The eligibility date has been set for Feb. 23, with distribution scheduled for March 12.
The company noted that treasury shares are not entitled to dividends and that payments will be made through Riyad Bank via direct transfer to shareholders’ bank accounts. stc shares last traded at SR44.80, unchanged on the session.
Separately, National Environmental Recycling Co., known as Tadweer, reported its annual financial results for the year ended Dec. 31, 2025, posting significant growth in revenue and profit.
Revenue rose 53.5 percent year on year to SR1.24 billion, compared with SR806 million in the previous year. Net profit attributable to shareholders increased 68.4 percent to SR60.9 million, up from SR36.2 million a year earlier, driven by higher sales volumes and operational expansion.
Tadweer shares last traded at SR3.80, up 2.70 percent.
