Startup of the Week: Third Culture Co. — Ethical products to put the mind at ease

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Updated 13 July 2021
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Startup of the Week: Third Culture Co. — Ethical products to put the mind at ease

JEDDAH: Third Culture Co. is a fashion design studio that designs and creates garments, bags, and homewear.

Shaima Shamsi, the founder of the brand, told Arab News: “We do not create for the sake of creating; we observe fashion as a language that has the opportunity to engage and communicate. Therefore, each of our collections is a statement of dialogue between its wearer and the environment.”

The entrepreneur said her strong sense of discipline is the foundation for her brand. “I come from a background where if you do not know how to do something, you learn it, and that has been the key to navigating through the growth of Third Culture Co. today.”

A Saudi-born Indian interdisciplinary artist and designer, Shamsi also has a strong sense of nature and likes to do everything she can to preserve it. Sustainability is a key priority for the brand. As a result, the company carefully selects the materials used to produce its range of items, and it only produces a small quality for each collection. “As a small business we do not compromise on quality when sourcing our materials. The current industry standards encourage mass production, bulk ordering, and craftsmen/women’s exploitation,” Shamsi said.

The designer also looks at the full lifecycle of the products. “(We) always ask our clients to send back their purchases to us for mending and end-of-life recycling to ensure they are disposed of or repurposed with respect to the environment,” she added.

Third Culture Co. is currently working on releasing a new collection focused on being a bridge between the past and the present, with designs and patterns inspired by the 14th and 15th centuries.


Closing Bell: Saudi stocks slip as Tadawul falls 1% amid broad market weakness

Updated 30 December 2025
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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.