TASI rebounds after hitting lowest level since late-December: Opening bell

TASI started Sunday at 1.3 percent higher reaching 11,307. (Shutterstock)
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Updated 17 July 2022
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TASI rebounds after hitting lowest level since late-December: Opening bell

RIYADH: Saudi main index bounced back from last week's losses as it hit its lowest level since late December to close Thursday at 11,163.

TASI started Sunday at 1.3 percent higher reaching 11,307, while Nomu opened flat at 20,577, as of 10:07 a.m. Saudi time.

Arab Sea Information System Co. gained 4.03 percent, leading the market gainers; Fitaihi Holding Group fell 1.73 percent, leading the laggards.

Saudi Aramco, the largest player on the Saudi oil market, opened today’s trading up 2.07 percent.

Almarai Co. rose 0.19 percent after it recorded an 8.4 percent increase in profit to SR941 million ($251 million) for the first half of 2022.

Jarir Marketing Co. rose 0.66 percent, after it recorded SR429 million in profit for the first half of 2022, down 6 percent from the same period last year.

In the financial sector, the Kingdom’s largest valued bank Al Rajhi increased 2.49 percent, while Arab National Bank edged up 0.17 percent.

Alinma Bank climbed 2.66 percent, after announcing it will distribute dividends of SR0.45 per share for the first half of 2022.

In energy markets, Brent crude settled 2 percent higher at $101.16 a barrel on Friday, while US benchmark West Texas Intermediate rose to $97.59 a barrel.


QatarEnergy announces force majeure following Iran attacks: statement

Updated 04 March 2026
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QatarEnergy announces force majeure following Iran attacks: statement

DOHA: Qatar’s state-run energy firm on Wednesday declared force majeure following attacks on two of its main facilities that halted liquefied natural gas production and as Iran pressed missile and drone attacks across the Gulf.

“Further to the announcement by QatarEnergy to stop production of liquefied natural gas and associated products, QatarEnergy has declared Force Majeure to its affected buyers,” the company said in a statement.

QatarEnergy invoked the clause, which shields it from penalties and potential breach of contract claims from clients, after stopping LNG production on Monday.

Iranian drones attacked two of the company’s main production hubs in Ras Laffan Industrial City, 80 km north of Doha and in Mesaieed 40 km south of the Qatari capital, Doha’s ministry of defense said at the time.

The Gulf state is one of the world’s top liquefied natural gas producers, alongside the US, Australia and Russia.

On Tuesday, QatarEnergy said it would halt some downstream production of some products including urea, polymers, methanol, aluminum and others.

Qatar shares the world’s largest natural gas reservoir with Iran.

QatarEnergy estimates the Gulf state’s portion of the reservoir, the North Field, holds about 10 percent of the world’s known natural gas reserves.

In recent years, Qatar has inked a series of long-term LNG deals with France’s Total, Britain’s Shell, India’s Petronet, China’s Sinopec and Italy’s Eni, among others.