Closing Bell: Saudi main index closes in red at 10,825
Closing Bell: Saudi main index closes in red at 10,825 /node/2602981/business-economy
Closing Bell: Saudi main index closes in red at 10,825
The total trading turnover of the benchmark index was SR4.27 billion ($1.13 billion), as 31 of the listed stocks advanced, while 215 retreated. Shutterstock.
Closing Bell: Saudi main index closes in red at 10,825
MSCI Tadawul Index decreased 21.69 points to close at 1,382.11
Parallel market Nomu lost 140.52 points to end at 26,669.23
Updated 01 June 2025
Miguel Hadchity
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Sunday, losing 165.14 points, or 1.50 percent, to close at 10,825.27.
The total trading turnover of the benchmark index was SR4.27 billion ($1.13 billion), as 31 of the listed stocks advanced, while 215 retreated.
The MSCI Tadawul Index decreased by 21.69 points, or 1.55 percent, to close at 1,382.11.
The Kingdom’s parallel market Nomu dipped, losing 140.52 points, or 0.52 percent, to close at 26,669.23. This comes as 20 of the listed stocks advanced while 61 retreated.
The best-performing stock was Emaar The Economic City, with its share price surging 3.91 percent to SR13.28.
Other top performers included Sinad Holding Co., which saw its share price rise by 2.56 percent to SR10.42, and Alkhaleej Training and Education Co., which saw a 2.22 percent increase to SR25.35.
The shares of Al Yamamah Steel Industries Co. and Morabaha Marina Financing Co. also rose by 2.19 percent and 1.85 percent to SR30.30 and SR11, respectively.
On the downside, United Carton Industries Co. was the day’s weakest performer, with its share price declining 9.31 percent to SR40.90.
Raydan Food Co. and Makkah Construction and Development Co. also saw declines, with their shares dropping by 8.04 percent and 7.02 percent to SR13.50 and SR90, respectively.
Moreover, the shares of Gulf Insurance Group and Saudi Fisheries Co. dipped by 6.54 percent and 5.94 percent to SR24.02 and SR95, respectively.
On the parallel market, Digital Research Co. led the gains, with its share price rising 13.02 percent to SR59.90.
Future Care Trading Co. and Saudi Parts Center Co. also saw a positive change, with their shares increasing by 9.32 percent and 7.14 percent to SR3.52 and SR45, respectively.
Conversely, Amwaj International Co. was the weakest performer on Nomu, with its share price falling 9.78 percent to close at SR36.90.
Fad International Co. and Dar Almarkabah for Renting Cars Co. followed with decreases of 9.42 percent and 9.26 percent to SR76 and SR2.45, respectively.
Using space science to protect Saudi Arabia’s environment
Kingdom is harnessing satellite technology to forecast disasters, boost agriculture
Updated 9 sec ago
Haifa Alshammari
RIYADH: Learning space science has delivered significant environmental benefits worldwide, helping many countries better understand and manage climate challenges.
Saudi Arabia is now taking steps not only to explore the galaxy but also to invest in future generations who can apply space science to pressing environmental issues at home.
Last November, the Space Academy, part of the Saudi Space Agency, launched a series of seminars designed to enhance knowledge and develop skills in space science and technology, with a particular focus on Earth observation.
Running for nearly a month, the program formed part of a broader strategy to nurture national talent, raise scientific awareness, and build data capabilities that support innovation and research across the Kingdom.
Developing space sector can eventually help reduce some of the critical climate issues such as drought and air pollution. (AFP)
As efforts to strengthen the sector continue, important questions remain: How can space science translate into tangible environmental benefits? And how large is the global space economy?
In an interview with Arab News, Fahad Alhussain, co-founder of SeedFord, highlighted the scale of the opportunity and its environmental impact.
“To be frank, the slogan that we always use in space is that ‘saving the Earth from the space.’ It is all about this,” Alhusain told Arab News.
“You can recall a lot of related environmental issues like global warming, related to forests, related to the damage that happens to the environment. Without space, it would be almost impossible to see the magnitude of these damages.”
According to Alhussain, satellites have transformed how experts observe environmental changes on Earth, offering a comprehensive view that was previously impossible.
“By collecting data and using satellites… You can better analyze and measure so many things that help the environment,” said Fahad Alhussain. (Supplied)
He said that “the transformation of technology allows even the non-optical ways of measuring, assessing, and discovering what is going on in the environment … you can even anticipate fire before it happens in the forest.”
“You can detect the ice-melt down, you can get huge amount of information and can see it through the weather maps…there is a huge section in the economy for the environment,” Alhussain commented.
A 2022 report by Ryan Brukardt, a senior partner at McKinsey & Company, published by McKinsey Quarterly, found that more than 160 satellites currently monitor Earth to assess the impacts of global warming and detect activities such as illegal logging.
Brukardt cited NASA as an example of how advanced satellite tools are used to track environmental changes, including shifts in ocean conditions, cloud cover, and precipitation patterns. He also noted that satellite data can help governments determine when immediate action is needed, particularly in response to wildfires.
FASTFACT
Did You Know?
Satellites collect massive amounts of data, and AI is used to help interpret this information more efficiently and predict future outcomes.
The global space economy surpassed $600 billion in 2024 and is projected to exceed $1 trillion by 2030.
Saudi Arabia has established three key entities: the Supreme Space Council, the Saudi Space Agency, and the Communications, Space, and Technology Commission.
Beyond disaster response, satellites offer vital insights for agriculture. According to Brukardt’s report, scientists can use space-based data to monitor crop development and anticipate threats to harvests, such as drought or insect infestations.
These wide-ranging applications explain the rapid growth of the global space economy.
According to World Economic Forum research, the sector is projected to reach $1.8 trillion by 2035, nearly tripling from $630 billion in 2023.
A deeper understanding of space and its applications offers Saudi Arabia, and the world, better tools to anticipate climate challenges, protect ecosystems, and safeguard biodiversity. (Supplied)
For Saudi Arabia, expanding space science capabilities could help address the country’s arid conditions by monitoring desertification and identifying sources of air pollution. Early detection of droughts, heatwaves, and crop stress could support more effective environmental planning and response.
Space-based data could also play a critical role in tracking environmental changes in the Red Sea and surrounding coastal ecosystems, strengthening marine conservation efforts and supporting the Sustainable Development Agenda.
As Alhussain emphasized, advancing knowledge in space science and satellite technology enables experts to measure environmental damage accurately and predict disasters before they occur, allowing for more effective responses.
By investing in space science education and research, the Kingdom can build national expertise, strengthen environmental protection policies, enhance food and water security, and contribute to global efforts to combat climate change—while also benefiting from the rapidly expanding space economy.
Ultimately, a deeper understanding of space and its applications offers Saudi Arabia, and the world, better tools to anticipate climate challenges, protect ecosystems, and safeguard biodiversity.
“By collecting data and using satellites, you can better analyze and measure so many things that help the environment,” said Alhussain.
“There will be patterns where you can warn people, scientists and decision makers to do something about it.”
