DUBAI: Luxury giant Chalhoub Group aims to raise women’s participation in senior management roles from 20 percent to 50 percent, the company said in its latest sustainability report.
The new report, which outlined the group’s key sustainability targets in Saudi Arabia, included employing more Saudis – from 91 percent to 93 percent of its frontline workforce.
The group also wants to increase the number of Saudis in back of house roles from 34 percent to 52 percent, as well as integrate people with disabilities (PWDs) into its workforce.
The luxury retail distributor aims to accomplish these goals over the next three years, it said, as it aligns itself with the Kingdom’s country-wide objectives for its labor force.
“At Chalhoub Group, we set ourselves ambitious targets in line with the KSA Vision 2030, because it represents the understanding of a future that we share for this country,” the group’s president, Patrick Chalhoub, said.
The group said it aims to strengthen its community service projects, particularly boosting the number of its volunteers from 193 to 1,300.
Based in Dubai, the group has been a major operator in Saudi Arabia for more than 50 years.
Chalhoub Group in KSA aims to have more women in senior management roles
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Chalhoub Group in KSA aims to have more women in senior management roles
- The new report, which outlined the group’s key sustainability targets in Saudi Arabia, included employing more Saudis
Closing Bell: Saudi stocks slip as Tadawul falls 1% amid broad market weakness
RIYADH: Saudi stocks fell sharply on Tuesday, with the Tadawul All Share Index closing down 108.14 points, or 1.03 percent, at 10,381.51.
The broader decline was reflected across major indices. The MSCI Tadawul 30 Index slipped 0.78 percent to 1,378.00, while Nomu, the parallel market index, fell 1 percent to 23,040.79.
Market breadth was strongly negative on the main board, with 237 stocks falling compared to just 24 gainers. Trading activity remained robust, with 164.7 million shares changing hands and a total traded value of SR3.19 billion ($850.6 million).
Among the gainers, SEDCO Capital REIT Fund led, rising 2.73 percent to SR6.77, followed by Chubb Arabia Cooperative Insurance Co., which gained 2.69 percent to SR20.20.
National Medical Care Co. added 1.72 percent to close at SR141.60, while Alyamamah Steel Industries Co. and Thimar Advertising, Public Relations and Marketing Co. advanced 1.57 percent and 1.13 percent, respectively.
Losses were led by Al Masar Al Shamil Education Co., which tumbled 8.36 percent to SR24.65. Raoom Trading Co.fell 6.75 percent to SR64.20, while Alkhaleej Training and Education Co. dropped 6.60 percent to SR18.12 and Naqi Water Co. declined 5.51 percent to SR54.00. Gulf General Cooperative Insurance Co. closed 5.44 percent lower at SR3.65.
On the announcement front, Chubb Arabia Cooperative Insurance Co. signed a multiyear insurance agreement with Saudi Electricity Co. to provide various coverages, expected to positively impact its financial results over the 2025–2026 period. The deal will run for three years and two months and is within the company’s normal course of business.
Meanwhile, Bupa Arabia for Cooperative Insurance Co. announced a one-year health insurance contract with Saudi National Bank, valued at SR330.2 million, covering the bank’s employees and their families from January 2026. Despite the sizable contract, Bupa Arabia shares fell 0.8 percent to close at SR137, weighed down by the broader market weakness.
In contrast, United Cooperative Assurance Co. revealed an extension of its engineering insurance agreement with Saudi Binladin Group for the Grand Mosque expansion in Makkah. The contract value exceeds 20 percent of the company’s gross written premiums based on its latest audited financials and is expected to support results through 2026. However, the stock came under selling pressure, ending the session down 4.51 percent at SR3.39.
