Closing Bell: TASI rises 1.3% as market breadth remains positive 

Red Sea International Co. led the main market gainers with a 9.97 percent jump. Shutterstock
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Updated 23 June 2025
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Closing Bell: TASI rises 1.3% as market breadth remains positive 

  • MSCI Tadawul 30 Index climbed 1.16% to close at 1,377.63
  • Parallel market Nomu ended 0.80% higher at 26,358.07

RIYADH: Saudi Arabia’s Tadawul All Share Index rose 1.29 percent to close at 10,710.24 on Monday, supported by broad-based gains across sectors. 

Trading activity remained healthy, with turnover hitting SR4 billion ($1 billion) and the market recording 225 advancers versus 20 decliners.

The MSCI Tadawul 30 Index also climbed 1.16 percent to close at 1,377.63. The parallel market Nomu ended 0.80 percent higher at 26,358.07.

Red Sea International Co. led the main market gainers with a 9.97 percent jump to SR38.60. Al-Rajhi Co. for Cooperative Insurance followed with an 8.86 percent gain to close at SR113. 

Other top performers included National Gypsum Co., which rose 7.61 percent to SR19.52; Americana Restaurants International, up 6.86 percent at SR2.18; and Naseej International Trading Co., which added 6.53 percent to reach SR78.30. 

On the downside, Sustained Infrastructure Holding Co. was the biggest decliner, falling 3.07 percent to SR25.30. 

Alistithmar AREIC Diversified REIT Fund dropped 1.58 percent to SR8.12, while Eastern Province Cement Co. slipped 1.17 percent to SR29.50. 

Other notable fallers included Knowledge Economic City, down 0.92 percent at SR12.86, and Saudi Industrial Investment Group, which closed 0.71 percent lower at SR16.70. 

On the announcement front, Etihad Atheeb Telecommunications Co., known as GO Telecom, confirmed the completion of its acquisition of a 51 percent stake in Ejad Tech for Information Technology.

The deal, valued at SR86.7 million, was finalized using internal company resources. The group stated that SR40 million was paid upon signing, with the remaining SR46.7 million to be disbursed in two instalments contingent upon target achievements — SR23.7 million by the end of 2025 and SR23 million by the end of 2026. 

GO Telecom said the acquisition is part of a strategic initiative to broaden its business base and enter new sectors. Ejad Tech is recognized as one of the top five digital transformation service providers in the Middle East. 

GO Telecom shares closed up 0.98 percent at SR93.10. 


Saudi Arabia’s e-invoices soar to 8.2bn in 2025, marking 64% surge

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Saudi Arabia’s e-invoices soar to 8.2bn in 2025, marking 64% surge

DAMMAM: Saudi Arabia has recorded a leap in the implementation of the electronic invoicing system, with the number of electronic invoices exchanged via the “Fatoorah” platform exceeding 8.2 billion during 2025, achieving a growth rate of 64 percent, as explained by the Zakat, Tax and Customs Authority to Al-Eqtisadiah newspaper.

This remarkable increase comes within the integration and linking phase of the electronic invoicing system, an indicator that reflects the accelerated progress achieved by the authority in the digital transformation path, and its role in enhancing tax compliance and raising the efficiency of financial and commercial transactions.

The authority clarified that the number of electronic invoices shared with the “Fatoorah” platform during 2024 exceeded 5 billion, compared to about 3.1 billion invoices in 2023, reflecting gradual growth in the adoption of digital solutions and compliance with regulatory requirements.

ZATCA explained that the number of electronic services provided to its clients and taxpayers during the past year exceeded 196, achieving a satisfaction rate of 91 percent, which reflects the accelerated development in the authority’s digital infrastructure and its ability to provide integrated services that enable taxpayers to complete their transactions with high efficiency and in record time.

The expansion of digital platforms and system updates contributed to raising the level of compliance and improving service quality, alongside enhancing integration with other government entities, which strengthened the reliability of the zakat, tax, and customs system in Saudi Arabia, according to the authority.

The past year witnessed a noticeable expansion in developing procedures aimed at accelerating the flow of incoming and outgoing goods through various customs ports, most notably the launch of the updated version of the Saudi Authorized Economic Operator program with the participation of 14 government entities. The number of establishments registered in the program reached 753.

The initiative provides a package of benefits that contribute to enhancing supply chains, raising the efficiency of logistical operations, and providing customs services according to the highest standards.

The authority pointed out that the achievements made during the past year in the fields of zakat, tax, and customs work, supported by digital developments and qualitative operational initiatives, enhanced ZATCA’s role in supporting the national economy, and contributed to consolidating Saudi Arabia’s position as a global logistical center for trade and logistics services, in alignment with the objectives of Vision 2030.

Two phases for implementing electronic invoicing

It is worth noting that the application of electronic invoicing began in two phases. The first phase, “Issuance and Storage,” launched in December 2021 and included all those subject to the Electronic Invoicing Regulation. 

The second phase, “Integration and Linking,” began in January 2023 and includes additional requirements, most notably linking taxpayers’ invoicing systems with the “Fatoorah” platform and issuing invoices in an approved electronic format. The number of targeted establishment groups in this phase reached 15.

The application of electronic invoicing aims to convert the issuance of paper invoices and notes into an integrated digital system that allows the exchange and electronic processing of debit and credit invoices between seller and buyer with high efficiency and reliability.