Closing Bell: Saudi main index loses 48 points to close at 11,144 

The total trading turnover of the benchmark index was SR5.86 billion ($1.56 billion) as 98 of the stocks advanced, while 119 declined.  
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Updated 05 December 2023
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Closing Bell: Saudi main index loses 48 points to close at 11,144 

RIYADH: Saudi Arabia’s Tadawul All Share Index turned red on Tuesday, as it shed 47.56 points, or 0.42 percent, to close at 11,143.83.  

The total trading turnover of the benchmark index was SR5.86 billion ($1.56 billion) as 98 of the stocks advanced, while 119 declined.  

The Kingdom’s parallel market, Nomu, also slipped with the index shedding 97.22 points to close at 24,003.59.  

The MSCI Tadawul Index edged down by 0.46 percent to close at 1,433.85.  

The top performers on the main index were mainly insurance firms, with the best-performing stock being Saudi Enaya Cooperative Insurance Co. The company’s share price soared by 9.90 percent to SR15.32. 

Other top performers on the main index were LIVA Insurance Co. and Amana Cooperative Insurance Co. whose share prices surged by 8.56 percent and 8.32 percent, respectively.  

The worst performer of the day was Development Works Food Co., as its share price tumbled by 9.79 percent to SR118.  

Meanwhile, the share price of Riyadh Cement Co., which started its trading on the main market today, went up by 0.14 percent to SR34.85.  

The best performers on the parallel market were Naseej for Technology Co. and Bena Steel Industries Co. whose share prices edged up by 11.86 percent and 8.78 percent, respectively.  

On the announcements front, KEIR International Co. said it has signed a 21-month contract worth SR48 million with National Grid SA to connect Al-Aridh Bulk Supply Point with the 132-kilovolt network in Riyadh.  

According to a Tadawul statement, KEIR International will carry out tasks related to high-voltage 132 kV underground cable installation, station protection, communications, and the implementation of remote-control systems.  

The company further noted that the financial impact of this deal will be visible from the first quarter of 2024 until the fourth quarter of 2025.  

KEIR International added that there are no related parties to the deal.  


Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

Updated 25 January 2026
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Saudi Arabia’s cultural sector is a new economic engine between Riyadh and Paris, says ambassador

RIYADH: Culture has become a fundamental pillar in bilateral relations between France and Saudi Arabia, according to the French Ambassador to the Kingdom, Patrick Maisonnave.

Maisonnave noted its connection to the entertainment and tourism sectors, which makes it a new engine for economic cooperation between Riyadh and Paris.

He told Al-Eqtisadiah during the opening ceremony of La Fabrique in the Jax district of Diriyah that cultural cooperation with Saudi Arabia is an important element for its attractiveness in the coming decades.

La Fabrique is a space dedicated to artistic creativity and cultural exchange, launched as part of a partnership between the Riyadh Art program and the French Institute in Riyadh. 

Running from Jan. 22 until Feb 14, the initiative will provide an open workspace that allows artists to develop and work on their ideas within a collaborative framework.

Launching La Fabrique as a space dedicated to artistic creativity

The ambassador highlighted that the transformation journey in the Kingdom under Vision 2030 has contributed to the emergence of a new generation of young artists and creators, alongside a growing desire in Saudi society to connect with culture and to embrace what is happening globally. 

He affirmed that the relationship between the two countries is “profound, even cultural par excellence,” with interest from the Saudi side in French culture, matched by increasing interest from the French public and cultural institutions unfolding in the Kingdom.

Latest estimates indicate that the culture-based economy represents about 2.3 percent of France’s gross domestic product, equivalent to more than 90 billion euros ($106.4 billion) in annual revenues, according to government data. The sector directly employs more than 600,000 people, making it one of the largest job-creating sectors in the fields of creativity, publishing, cinema, and visual arts.

Saudi Arabia benefiting from French experience in the cultural field

Maisonnave explained that France possesses established cultural institutions, while Saudi Arabia is building a strong cultural sector, which opens the door for cooperation opportunities.

This comes as an extension of the signing of 10 major cultural agreements a year ago between French and Saudi institutions, aiming to enhance cooperation and transfer French expertise and knowledge to contribute to the development of the cultural system in the Kingdom.

He added that experiences like La Fabrique provide an opportunity to meet the new generation of Saudi creators, who have expressed interest in connecting with French institutions and artists in Paris and France.

La Fabrique encompasses a space for multiple contemporary artistic practices, including performance arts, digital and interactive arts, photography, music, and cinema, while providing the public with an opportunity to witness the stages of producing artistic works and interact with the creative process.