Saudi king increases Ramadan meals project funding in 18 countries

Food distribution for needy families and those affected by precautionary measures against the COVID-19 pandemic in Makkah on the occasion of Ramadan has begun. Saudi King Salman on Thursday also increased funding for the Kingdom's Ramadan meals project for 18 countries around the world. (SPA)
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Updated 24 April 2020

Saudi king increases Ramadan meals project funding in 18 countries

RIYADH:  Saudi Arabia's King Salman has approved an increase in funding to SR5 million ($1.3 million) for Ramadan meals projects in 18 countries around the world.

The Ministry of Islamic Affairs, Dawah and Guidance will implement the program, which aims to provide iftar (breakfast) meals for 1 million people during the holy month of Ramadan.

Saudi Minister of Islamic Affairs Sheikh Abdullatif Al-Asheikh thanked the monarch for his ongoing support of the ministry’s various projects in serving Islamic works.

He said preparations had been made to deliver the initiative in 18 countries through religious attaches’ offices in the Kingdom’s embassies and Islamic centers under ministry supervision.

Al-Asheikh added that this year’s iftar project would be carried out through the distribution of food baskets in line with precautionary measures put in place to prevent the spread of the coronavirus disease (COVID-19) pandemic.

Tadawul index records highest close since July 2019 on Sunday

Updated 30 November 2020

Tadawul index records highest close since July 2019 on Sunday

  • Total trading reached $3.17 billion

Saudi Arabia’s benchmark Tadawul All Share Index (TASI) rose 0.2 percent, or 15 points, to end at 8,709 points on Sunday, the highest closing since July 2019.

Total trading reached SAR 11.9 billion ($3.17 billion), with the advance-decline ratio at 146:44.

SPIMACO rose 5.5 percent to SAR 43.05. The company signed a non-binding memorandum of understanding with German biopharmaceutical firm, CureVac, to provide COVID-19 vaccine in the Kingdom.

Electrical Industries closed 5.6 percent higher at SAR 24.26, as the firm completed the final phase of share buyback for SAR 7.2 million.

Naseej went limit up to close at SAR 33.

Oil giant Saudi Aramco fell 0.4 percent to SAR 35.75, while banking major Al Rajhi slipped 0.3 percent to SAR 74.

Blue chip SABIC edged down 0.3 percent to SAR 96.50.

Alandulas was the top decliner, shedding nearly 2 percent to SAR 21.08.

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