Saudi Ministry of Investment, tech firm Endava sign MoU to propel digitalization efforts 

The deal will help provide Saudi organizations a swift path to impactful digital transformation. Ministry of Investment
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Updated 26 March 2024
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Saudi Ministry of Investment, tech firm Endava sign MoU to propel digitalization efforts 

RIYADH: Saudi businesses will be brought up to speed on global best practice in the digital sphere thanks to an agreement between the Kingdom and a London-based firm.

The Kingdom’s Ministry of Investment signed a memorandum of understanding with Envada to support the government’s economic vision by offering advisory, consultation, and implementation services, according to a statement.

The newly signed agreement will also help the private and public sectors adapt their digital offerings and processes, and will also help train technology professionals.

This move falls in line with the ministry’s ongoing effort to enable international firms to establish operations in the Kingdom, supporting a tech shift in line with Saudi Vision 2030.  

“We commend the ministry on the work it is doing to afford global-leading technology companies like Endava an unmissable opportunity to actively shape the digital future of Saudi Arabia at this critical inflection point in the Kingdom’s advancement,” Managing Director of MENA Endava David Boast said.  

“Our partnership with them is further validation of Endava’s unwavering commitment to Saudi Arabia and its people,” Boast added.

He went on to stress: “With our mission of making a profound and lasting positive impact on the societies and economies which we serve, such close collaboration with leading government entities is fundamental to our ambitions.”

Over the last two years, Endava has been making investments in an attempt to bolster its presence in Saudi Arabia as it engages with the Kingdom’s largest players across industries including banking, finance, energy, among others.


Closing Bell: Saudi main index closes in red at 10,414 

Updated 17 December 2025
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Closing Bell: Saudi main index closes in red at 10,414 

RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Wednesday, shedding 38.85 points, or 0.37 percent, to finish at 10,414.06. 

Total trading turnover on the benchmark index reached SR3.46 billion ($920 million), with 123 stocks advancing and 134 declining. 

The Kingdom’s parallel market Nomu also shed 41.61 points, or 0.18 percent, to close at 23,428.67. 

The MSCI Tadawul Index edged down 0.45 percent to 1,368.36. 

Arabian Drilling Co. was the best-performing stock on the main market, with its share price rising 6.8 percent to SR102.90. 

Naqi Water Co. gained 4.30 percent to SR58.25, while Saudi Ground Services Co. advanced 3.78 percent to SR38.42. 

Tihama Advertising, Public Relations and Marketing Co. saw its share price fall 4.95 percent to SR16.31. 

AlAhli REIT Fund 1 also declined 3.53 percent to SR6.29. 

On the announcements front, United Mining Industries Co., listed on the parallel market, said it has begun commercial production of gypsum board at its plant in Yanbu. 

In a Tadawul statement, the company said the financial impact of the project’s commercial production will be reflected in the first quarter of 2026. 

United Mining Industries Co.’s share price was unchanged, closing at SR42.54.  

Dkhoun National Trading Co. said its shareholders approved the board’s recommendation to distribute interim dividends on a semi-annual or quarterly basis for 2025. 

According to a Tadawul statement, shareholders also approved transferring the balance of the company’s statutory reserve, valued at SR2.43 million, to retained earnings. 

Dkhoun National Trading Co.’s shares saw no trades and closed at SR65.