The Riyadh-based market measure Tasi edged 0.61% higher to hit 6,790.96 points Monday as oil prices recovered in recent days amid speculations that OPEC member states will decide at the 161st meeting next Thursday to reduce production in order to keep brent prices in the range between $100 to $120. In May the price of "black gold" fell by a fifth due to ongoing concerns over the Euro zone dent crisis. Petrochemical producer Sabic advanced 0.82% to reach SR92. Like at UAE market, tradigng volumes edged up. 108 out of 162 traded shares advanced, while 24 securities declined.
IMF sees Saudi economic slowdown, warns of inflation
Saudi economic growth will slow to 4.4 percent in 2013 from 6.8 percent last year due to an expected fall in oil production, and cuts in government spending, the International Monetary Fund said Tues
Saudi's Dar Al Arkan launches $450 million Sukuk
Saudi developer Dar Al Arkan has launched a $450 million five-year Islamic bond offering, a document from lead managers said on Tuesday, in the real estate firm's first international bond sale in mor
Tadawul index marches upward
The Saudi stock market continued its upward march and managed a fifth straight rise yesterday, accumulating nearly 48 points further.
The Tadawul All-Share Index (TASI) set out with 4.4 poi
Emirates NBD boosts SME lending to Dh2 billion in ’13
Emirates NBD, a leading regional lender, announced that it would be boosting financing for small and medium enterprises, or SMEs, as well as micro SMEs in 2013 by setting aside Dh2 billion, up from D
KSA heading for 7.6% nonoil growth in 2013
Inflationary pressure is likely to continue to remain subdued in the Kingdom this year in the absence of external shocks to food prices, says a top Riyadh-based economist.