TASI in green after declining for four consecutive days: Closing bell

The Tadawul All Share Index rose 0.32 percent to end at 11,551 (Shutterstock)
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Updated 12 October 2022
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TASI in green after declining for four consecutive days: Closing bell

RIYADH: Saudi Arabia’s main index ended in the green on Wednesday, halting four straight days of losses.

The Tadawul All Share Index rose 0.32 percent to end at 11,551, while the parallel market Nomu gained 0.22 percent to finish at 19,724.

Saudi oil giant Aramco ended the session flat, while Rabigh Refining and Petrochemical Co. edged down 0.96 percent.

The Saudi National Bank, the Kingdom’s largest lender, rose 1.79 percent, while Saudi British Bank decreased by 0.62 percent.

The Kingdom’s most valued bank Al Rajhi increased by 0.49 percent, while Alinma Bank declined by 0.55 percent.

Arabian Contracting Services Co. edged up 0.18 percent, after it entered into an agreement to acquire all shares of Faden Media for SR1 billion ($279 million).

ACWA Power declined 0.62 percent, following the beginning of the operation for phase B of Shuaa Energy III PSC project in Dubai.

Dar Alarkan Real Estate Development Co. surged 6.75 percent to lead the gainers, while Saudi Paper Manufacturing Co. fell 4.90 percent to lead the fallers.

 


Mawani, Qatar Ports ink cooperation deal to boost regional maritime trade 

Updated 18 February 2026
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Mawani, Qatar Ports ink cooperation deal to boost regional maritime trade 

RIYADH: The Saudi Ports Authority, or Mawani, and Qatar Ports Management Co. signed a memorandum of understanding aimed at boosting maritime and logistics cooperation, contributing to the development of the ports sector, raising operational efficiency, and supporting regional and international trade flows. 

The MoU was signed by Mawani President Suliman Al-Mazroua and Qatar Ports Management Co. CEO Abdullah Mohammed Al-Khanji, in the presence of Qatari Ambassador to Saudi Arabia Bandar bin Mohammed Al-Attiyah. 

The step reflects both sides’ commitment to building effective partnerships, exchanging expertise, establishing an organized framework for cooperation management, and developing joint investment opportunities in line with Saudi Vision 2030 and Qatar National Vision 2030. 

The MoU outlines eight key areas of cooperation, including the exchange of best practices in port management and operations, and studying opportunities for direct maritime and land connectivity between the two countries’ ports to enhance trade efficiency. 

It also includes collaboration in logistics services, exploring the establishment of joint maritime corridors serving bilateral and regional trade, and assessing the feasibility of creating shared regional distribution centers. 

Both parties agreed to enhance cooperation in digital transformation and artificial intelligence, focusing on smart systems, data governance, and a unified maritime window to improve operational efficiency and remain at the forefront of technological progress in the maritime sector. 

The MoU emphasizes maritime safety and environmental protection, including the exchange of expertise on marine pollution control and emergency response, the development of joint maritime emergency plans, and the establishment of a bilateral emergency communication line.  

It also promotes collaboration to ensure compliance with international conventions, conduct joint exercises, and implement risk-monitoring systems. 

Cooperation further extends to human capital development through joint training programs and on-the-ground expertise exchanges, as well as academic and research partnerships in maritime transport and logistics. 

Regarding joint investment, both parties will explore local and international opportunities in ports and related services, coordinating with the private sector to support these initiatives. 

The MoU also includes cooperation in cruise tourism through enhanced maritime connectivity and joint promotion of Gulf cruise routes, as well as coordination of positions in international maritime organizations and support for joint initiatives, notably “Green Ports” and “Safe Sea Corridors.” 

This memorandum reflects the commitment of Mawani and Qatar Ports Management Co. to advancing the ports sector and boosting its role as a key driver of trade and economic growth, contributing to Gulf integration, and enhancing regional competitiveness in maritime services.