DUBAI: Oman and Qatar on Monday signed agreements on military cooperation, taxation, tourism, ports, labor and investment, the state news agencies of both the Gulf states said.
The agreements were signed during a two-day state visit by Oman’s Sultan Haitham to Qatar, one of the world’s top producers of liquefied natural gas (LNG).
The deals included an agreement on double taxation and tax evasion on income and capital taxes, and an investment cooperation agreement between sovereign wealth funds the Qatar Investment Authority and the Oman Investment Authority, said Qatar’s Amiri Diwan, the administrative office of the Emir.
During his visit, the Sultan Haitham met with Qatari Emir Sheikh Tamim where the two sides discussed prospects of joint cooperation and ways to support and develop it in various fields to achieve the hopes and aspirations of the two peoples.
They also held talks on regional and international issues and reviewed matters of common concern.
He is also expected to hold talks with other Qatari officials on ways to strengthen bilateral relations.
Oman and Qatar also own international ports, through which they can enhance the existing cooperation between them in maritime transport services, loading, unloading and handling operations.
“It is hoped that the Omani-Qatari Joint Committee headed by the Ministers of Finance of the two countries will work to activate these common factors, reinforced by this historic visit,” a statement on Oman News Agency said.
The two countries also agree in their foreign policies on a number of regional and international issues, including the Palestinian conflict, maintaining international peace and security, combating terrorism, encouraging dialogue to resolve issues and renouncing violence, in addition to strengthening the progress of the Gulf Cooperation Council states.
(With Reuters)
Oman and Qatar sign six cooperation agreements during Sultan Haitham’s visit
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Oman and Qatar sign six cooperation agreements during Sultan Haitham’s visit
- They signed agreements in the areas of tourism, military, ports, investment and taxation
- Sultan Haitham held talks with Qatari Emir Sheikh Tamim during his two-day visit
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.
