TASI closes 0.1% down at 11,827 points: Market Wrap

(Getty)
Short Url
Updated 16 November 2021
Follow

TASI closes 0.1% down at 11,827 points: Market Wrap

RIYADH: The Saudi stock market ended the session on Tuesday, down 0.1 percent or 60 points, to close at 11,827 points.

Some 159.6 million shares changed hands in 292,000 deals, with heavy trading in Al Rajhi bank, recruitment firm Maharah,  and investment firm Taiba.

The market's fall today was influenced by a decline in materials stocks, which were down 3 percent, to record the sector's lowest closing in a month.

Shares in Saudi Aramco fell less than 1 percent to close at SR37.15 ($9.90).

Petrochemical sector stocks Tasnee, Saudi Kayan, Bahri, SIIG, Petro Rabigh, and real estate developer Dar Al Arkan all ended their trading today down ranging between 2 and 4 percent.

Shares in jewelry and luxury retail group Fitaihi led today's declines by more than 4 percent to close at SR44.75.

Shares in Taiba were up, closing the session at SAR 42.70, their highest level in more than four years, amid heavy trading of 8.6 million shares, the most seen since 2017.

Also, shares in Saudi National Bank rose by more than 1 percent to close at SR68.40.

Shares in plastics maker Zahrat Al Waha topped the gainers today at SR80.60, after the company announced a cash dividend of SR1.5 and a 50 percent capital hike.

Other News:

Theeb Rent a Car company's board has recommended a 4 percent cash dividend, or SR0.40 a share, for Q3 2021

Agri equipment firm Alkhorayef failed to disclose a material development related to bagging a contract, which will account for more than 5 percent of its revenue, before the start of the trading period on Sept. 12, 2021

The Capital Market Authority announced the approval of an increase in the value of assets in real estate fund Sedco Capital REIT.


Saudi Arabia ranks 2nd globally in digital government, World Bank 2025 index shows


Updated 18 December 2025
Follow

Saudi Arabia ranks 2nd globally in digital government, World Bank 2025 index shows


WASHINGTON: Saudi Arabia has achieved a historic milestone by securing second place worldwide in the 2025 GovTech Maturity Index released by the World Bank.

The announcement was made on Thursday during a press conference in Washington, DC, which evaluated 197 countries.

The Kingdom excelled across all sub-indicators, earning a 99.64 percent overall score and placing it in the “Very Advanced” category.

It achieved a score of 99.92 percent in the Core Government Systems Index, 99.90 percent in the Public Service Delivery Index, 99.30 percent in the Digital Citizen Engagement Index, and 99.50 percent in the Government Digital Transformation Enablers Index, reflecting some of the highest global scores.

This includes outstanding performance in digital infrastructure, core government systems, digital service delivery, and citizen engagement, among the highest globally.

Ahmed bin Mohammed Al-Suwaiyan, governor of the Digital Government Authority, attributed this achievement to the unwavering support of the Saudi leadership, strong intergovernmental collaboration, and effective public-private partnerships.

He highlighted national efforts over recent years to re-engineer government services and build an advanced digital infrastructure, which enabled Saudi Arabia to reach this global standing.

Al-Suwaiyan emphasized that the Digital Government Authority continues to drive innovation and enhance the quality of digital services, in line with Saudi Vision 2030, supporting the national economy and consolidating the Kingdom’s transformation goals.

The 2025 GTMI data reflects Saudi Arabia’s excellence across key areas, including near-perfect scores in core government systems, public service delivery, digital citizen engagement, and government digital transformation enablers. This balanced performance places the Kingdom firmly in the “Grade A” classification for very advanced countries, demonstrating the maturity of its digital government ecosystem.

Saudi Arabia’s progress in the index has been remarkable: from 49th place in the 2020 edition, to third in 2022, and now second in 2025, confirming its status as a global leader in digital transformation and innovation.

The achievement also reflects the Kingdom’s focus on putting people at the center of digital transformation, enhancing user experience, improving government efficiency, and integrating artificial intelligence and emerging technologies across public services.