Closing Bell: Saudi main index closes in red at 10,619

Total trading turnover stood at SR3.33 billion ($886.3 million), with 136 stocks advancing and 110 declining. File/Reuters
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Updated 03 September 2025
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Closing Bell: Saudi main index closes in red at 10,619

  • Parallel market Nomu gained 0.12% to close at 25,673.03
  • MSCI Tadawul Index fell 7.87 points to 1,375.55

RIYADH: Saudi Arabia’s benchmark Tadawul All Share Index closed lower on Wednesday, slipping 48.34 points, or 0.45 percent, to 10,619.10.

Total trading turnover for the day stood at SR3.33 billion ($886.3 million), with 136 stocks advancing and 110 declining.

The parallel market Nomu gained 0.12 percent, or 30.65 points, to close at 25,673.03, while the MSCI Tadawul Index fell 7.87 points to 1,375.55.

The session’s top performer was Thimar Development Holding Co., which rose 9.99 percent to SR42.92. Red Sea International Co. gained 4.94 percent to SR44.60, and Umm Al Qura for Development and Construction Co. climbed 2.80 percent to SR23.15.

On the downside, Marketing Home Group for Trading Co. fell 3.84 percent to SR77.7, while Riyad REIT Fund dropped 3.51 percent to SR5.23.

In corporate announcements, Al-Rajhi Co. for Cooperative Insurance, known as Al Rajhi Takaful, announced the completion of its share repurchase program under its Employee Stock Incentive Plan.

The buyback, approved by shareholders on June 3 and disclosed the following day, involved the purchase of 300,000 shares with a total value of SR35.7 million, at an average price of SR119 per share.

Shares of Al Rajhi Takaful slipped 1.37 percent to SR115.40.

ADES Holding Co. said it signed a multi-year contract extension with QatarEnergy for its jackup rig Aquamarine Driller, in a deal valued at about SR808 million.

The contract, signed on Sept. 2, includes a firm four-year term with options for three additional one-year extensions. The financial impact is effective immediately.

Shares of ADES fell 0.20 percent to SR15.02.

Arab National Bank announced the completion of a $750 million US dollar-denominated additional Tier 1 capital sustainable sukuk under its international program.

The issuance, offered to eligible investors in Saudi Arabia and abroad, will settle on Sept. 9. The offering comprises 3,750 sukuk, each with a par value of $200,000, paying a 6.4 percent annual fixed return. The perpetual sukuk are callable after five years.

Arab National Bank’s shares declined 2.75 percent to SR22.30.


Saudi Arabia, WEF launch initiative to reshape global travel landscape

Updated 11 November 2025
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Saudi Arabia, WEF launch initiative to reshape global travel landscape

  • ‘Beyond Tourism’ is global framework advancing sustainability, inclusivity, and resilience in the sector

RIYADH: Saudi Arabia has partnered with the World Economic Forum to launch the “Beyond Tourism” initiative, a global framework designed to drive a more sustainable, inclusive, and resilient future for the travel and tourism sector.

Announcing the initiative on his X account, Saudi Minister of Tourism Ahmed Al-Khateeb said he was “thrilled to announce the launch,” noting that it is “dedicated to shaping the future of travel and tourism and is built around 10 core principles.”

Al-Khateeb emphasized that Beyond Tourism underscores the sector’s vital role as “a bridge between cultures, a means to empower communities, and a source of opportunities for future generations.”

The initiative comes as the global travel and tourism industry undergoes a major structural shift — moving away from fragmented, business-as-usual models toward integrated, ecosystem-based strategies.

According to the World Economic Forum, the sector is projected to reach 30 billion tourist visits and contribute $16 trillion to global gross domestic product by 2034. Yet, it continues to face complex challenges including rising tension between visitors and residents, environmental pressures, workforce shortages, and exposure to geopolitical and climate disruptions.

“The global travel and tourism sector is entering a period of profound transformation, moving decisively from a fragmented, business-as-usual operating model to a holistic, ecosystem-based paradigm,” the WEF said in a statement.

The forum noted that past reliance on siloed policies — a weakness underscored during the COVID-19 pandemic — has proven insufficient to address today’s global challenges.

Its proposed ecosystem approach focuses on five key enablers: infrastructure, finance, technology and innovation, people and skills, and policy and governance. The model aims to convert systemic challenges into opportunities for inclusive and sustainable growth.

Several destinations have already demonstrated the benefits of this approach. Countries such as Portugal, New Zealand, Costa Rica, Singapore, and Indonesia have leveraged it to improve conservation outcomes, diversify economies, and strengthen sustainable tourism development.

By promoting global cooperation among governments, private-sector leaders, and local communities, the Beyond Tourism initiative seeks to unlock the full potential of the industry while safeguarding cultural and natural heritage for generations to come.