Closing Bell: Saudi bourse closes flat on the last trading day of 2022 at 10,478 points 

The total trading turnover of the benchmark index slumped 18.83 percent to SR3.62 billion ($960 million) (File/Getty)
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Updated 29 December 2022
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Closing Bell: Saudi bourse closes flat on the last trading day of 2022 at 10,478 points 

RIYADH: Saudi Arabia’s Tadawul All Share Index lost 6.83 points — or 0.07 percent — to close at 10,478.46 on the last trading day of 2022, succumbing to the gloomy wave that enveloped the global market following surging cases of COVID-19 in China and the geopolitical situation in Ukraine. 

The total trading turnover of the benchmark index on Thursday slumped 18.83 percent to SR3.62 billion ($960 million) from Wednesday’s SR4.46 billion. The market breadth reflected the meager gains as 108 stocks of the listed 223 were northbound while 95 dipped in the red. 

“The soaring COVID-19 cases in China have affected global sentiments and dampened hopes of a quicker demand revival in the country. An increase in aggression between Russia and Ukraine also affected markets today,” Junaid Ansari, head of investment strategy and research at Kamco Invest, told Arab News. 

The sectoral pulse was also lackluster, as 13 of the 21 indices gained marginally by a few points. The topmost gainer was the Real Estate Management & Development Index, which closed 32.11 points higher to end at 2,500.23. 

Stock markets in the Gulf Cooperation Council region had an unremarkable day, with all exchanges closing in the red except Bahrain, which closed 15.64 points higher to 1,895.27. 

Conventional wisdom pointed toward oil prices that fell for the second consecutive day as the cause for the lackluster performances. 

Brent futures for February fell 96 cents to $82.30 a barrel by 3:08 p.m. Riyadh time, while US West Texas Intermediate crude futures fell $1.13 to $77.83 a barrel. 

“Saudi’s TASI was the second-worst performing market in the GCC with a decline of 7.1 percent after Qatar’s DSM Index that reported a decline of 8.1 percent for the year. It was also the first decline in Saudi Arabia after six consecutive years of positive returns that saw the index soar from 6,911.76 points at the end of 2015 to a peak of 13,820.35 points on May 8,” said Ansari. 

According to the Kamco Invest investment research team, the year saw merely three out of 21 indices add up while the rest declined. Software & Services Index was the best-performing during the year, increasing 25.3 percent.  

The next best performers of 2022 were the Healthcare and Utilities indexes, with gains of 24.6 percent and 20.9 percent, respectively.  

On the other hand, Pharma & Biotech Index reported the most significant decline during the year at 44.6 percent. In addition, large-cap sectors such as materials and banks were down 14.4 percent and 5.6 percent, respectively. 

The Energy Index reported the smallest yearly decline of 1.6 percent.  

Parallel market Nomu swam against the tide on Thursday as it closed 217.55 points up at 19,417.30.

Meanwhile, on Thursday, Dar Al Arkan Real Estate Development Co. announced its intention to pursue a separate direct listing of its Dubai-based international unit, Dar Al Arkan Real Estate Development, after renaming into Dar Global Group, on the Official List of the UK Financial Conduct Authority and to the London Stock Exchange’s primary market. 

Saudi Pharmaceutical Industries & Medical Appliances Corp., on Thursday, also announced that it signed a Shariah-compliant credit facility agreement worth SR650 million with Saudi British Bank. 

In a statement to Tadawul, the company said that the agreement comprises the renewal of SR150 million short-term credit facilities and new SR500 million long-term credit facilities. 

The statement added that the short-term facilities extend for one year, while the long-term facilities range between eight to 10 years, including a two-year grace period. The share price of SPIMACO closed 0.37 percent to SR21.78.


Mapping Saudi soils to grow better crops

Updated 19 December 2025
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Mapping Saudi soils to grow better crops

  • Palm trees, root crops, and coastal plants reveal the land’s story

RIYADH: Saudi Arabia’s land tells stories written beneath the feet. From fertile plains and rugged highlands to vast deserts, the Kingdom’s diverse landscapes shape what can grow, where it grows, and how agriculture can thrive.

Alongside geography and climate, soil conditions play a decisive role in agricultural success. Understanding soil types across the Kingdom helps determine which crops can flourish and what interventions may be needed to sustain them.

In an interview with Arab News, Turki Almutairi, a senior environmental specialist at the National Afforestation Center under the National Center for Vegetation Cover Development and Combating Desertification, outlined the main soil types found across Saudi Arabia.

High amount of salt makes the soil unfit for the production of most crops, even if the soil is fertile. (Supplied)

“The dominant soil in the Kingdom are sandy desert soils, alongside calcareous soils in the central region. Rocky and stony soils are present along mountainous and hilly landscapes,” he said.

“Alluvial soils are common in wadies (valleys), while saline and sodic soils are located in depressions (Sabkhas) and along coastlines. Pockets of clayed soils can be also found around few sites along the Kingdom.”

The Kingdom’s vast territory gives rise to unique soil characteristics in each region, enabling different crops to grow depending on local conditions.

“Soil is the growing medium for plants. The role of soil includes structural stabilization, providing nutrients and a communication medium for plants,” Basil Nasir, soil lead at engineering consultancy William Sale Partnership, told Arab News.

Basil Nasir, soil lead at the engineering consultant company, William Sale Partnership (WSP). (Supplied)

According to Nasir, assessing soil use is essential before determining whether it is fertile or infertile, as different soils support different plant types.

“The soil used for trees differs from the soil used for ornamental plants and from the soil used for aquatic plants. It varies according to the specific needs of each plant, and based on this, we determine what the soil requires and assess its fertility,” he said.

Nasir explained that soil characteristics are shaped by both physical and chemical components. In addition to water and air, mineral particles such as sand, silt and clay are key indicators of soil health. Organic matter, derived from plant and animal remains, forms the fourth major component.

The balance between these elements determines soil behavior. One important physical trait is water-holding capacity, which influences what types of plants a soil can support.

 

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“If the soil is like dunes, adding water will cause it to run off, but if the soil is clay, its ability to retain water will be very high. If you add water and return the next day, you will find that the water is still there,” said Nasir.

Chemical properties, such as whether soil is alkaline or acidic, are equally important. Understanding both physical and chemical traits allows for proper assessment and treatment when needed.

“What determines whether a plant is suitable for a particular environment is primarily the plant's nature. For example, some plants have fibrous roots and therefore do not require well-draining soil,” Nasir added.

“A palm tree, for example, does not care whether it was planted in one soil or the other because its roots are fibrous. Therefore, palm trees are strong plants and are suitable to grow in both dry and wetlands, while preferring sandy areas.”

Soil Salinity can be treated through Soil leaching which means washing the soil with certain amount of water to reduce the salt in it. (Supplied)

Crops such as potatoes, onions, carrots and beetroots — where the edible part grows underground — typically thrive in sandy soils. As a result, plantations of these crops are commonly found in northern regions such as Hail and in Wadi Ad-Dawasir.

In the eastern region, including Al-Ahsa, wetlands are more common due to climatic conditions. Growing plants in such environments often requires human intervention.

“Plants that are coastal or could be found in lagoons or lakes must have some sort of soil around them, like lotus flowers and mangrove trees.”

“An important parameter to keep in mind is that there is no air in its soil, and they are adapted to this condition. However, the lack of air, along with the presence of organic matter, will create a situation where anaerobic bacteria react with the soil, potentially causing diseases we can easily avoid,” said Nasir.

He emphasized that removing organic matter from such soils is essential to ensure plant survival in aquatic environments.

Mountainous and rocky regions in Saudi Arabia are generally volcanic, resulting in low water-holding capacity and challenging growing conditions. However, volcanic ash contributes to high fertility, allowing certain crops to flourish.

As a result, western regions support tree crops such as coffee, mangoes, some banana varieties and pomegranates.

There are various types of soils such as clay, sandy, silty and loamy. Each type provides excellent conditions for specific plants. (Supplied)

As development accelerates across the Kingdom, soil improvement efforts are expanding under the National Greening Program.

“Soil is considered fundamental for the National Greening Program’s objectives. Understanding the soil variability along the Kingdom is a precondition for fostering sustainable soil management,” Almutairi told Arab News.

Adding, “In this line, the NGP is working towards the establishment of the Saudi Soil Information System (TURBA-KSA), which consists of mapping soils and its functional properties in the Kingdom using state-of-the-art technology.”

He also noted the creation of the “Land Rehabilitation Watch” to report, verify and monitor land rehabilitation nationwide.

“This milestone allows the Kingdom to understand how soil and land health are progressing against national and international targets of land degradation neutrality. Documenting good soil and land management practices is also important, so that those successful practices could be scaled up along the Kingdom, which is a priority task for NGP,” he said.

Raising public awareness is another key pillar of the program.

“Assessing different emerging technologies and soil amendments is a daily activity of NGP, as it then provides technical support to partners on the selection and application of these technologies.”

DID YOU KNOW?

• Saudi Arabia cultivates around 1 million hectares, mainly in Riyadh, Qassim, Hail, and Jouf.

• Farming follows the seasons: winter brings onions, garlic, and carrots, while summer yields watermelon, tomatoes, and cucumbers.

• The Kingdom is a top date producer, with over 31 million palm trees generating nearly 1.54 million tons, especially in Riyadh and Qassim.

Almutairi stressed that soil is often overlooked because it lies unseen beneath the surface, despite its critical role.

Yet soil produces 95 percent of food, stores water, holds more carbon than vegetation and the atmosphere, suppresses contaminants, regulates water, carbon and nutrient cycles, and hosts microorganisms linked to the human microbiome.

He emphasized the need to engage the general public, particularly urban communities disconnected from nature. Education helps people understand where food comes from and how contact with soil — such as walking barefoot — can support well-being. Healthy soils also contribute to cleaner water and air, he added.

Almutairi also called for stronger advocacy among decision-makers, noting that investment in healthy soils supports climate action, food security and sustainable development.

He concluded that key strategies include officially observing UN World Soil Day on Dec. 5, integrating soil education into curricula, launching annual social media campaigns, using art to raise awareness, and organizing public events that connect soils to everyday life.