Closing Bell: Saudi main index rises to close at 10,904

Closing Bell: Saudi main index rises to close at 10,904
The total trading turnover of the benchmark index was SR4.14 billion ($1.10 billion), with 183 stocks advancing and 65 declining. Shutterstock
Short Url
Updated 24 August 2025
Follow

Closing Bell: Saudi main index rises to close at 10,904

Closing Bell: Saudi main index rises to close at 10,904
  • Parallel market Nomu fell 28.51 points to close at 26,507.28
  • MSCI Tadawul Index gained 1.69 points to end at 1,410.74

RIYADH: Saudi Arabia’s benchmark Tadawul All Share Index rose on Sunday, gaining 37.70 points, or 0.35 percent, to close at 10,904.53. 

The total trading turnover of the benchmark index was SR4.14 billion ($1.10 billion), with 183 stocks advancing and 65 declining. 

The Kingdom’s parallel market Nomu fell 28.51 points, or 0.11 percent, to close at 26,507.28, with 47 stocks advancing and 44 declining. 

The MSCI Tadawul Index gained 1.69 points, or 0.12 percent, to end at 1,410.74. 

Among the top performers, Emaar The Economic City led the gainers with a surge of 7.94 percent to SR13.60, followed by Saudi Industrial Investment Group, which rose 6.95 percent to SR20.00, and Red Sea International Co., which climbed 6.76 percent to SR45.80. 

On the losing side, Al-Babtain Power and Telecommunication Co. recorded the largest drop, falling 3.15 percent to SR56.85, while Saudi Chemical Co. declined 2.29 percent to SR6.84, and Rasan Information Technology Co. fell 2.09 percent to SR93.55. 

On the corporate front, Riyadh Steel Co. reported a net profit of SR2.45 million for the first six months of 2025, down 3.16 percent year on year, attributed to a decrease in gross margin. 

Its shares ended the session at SR1.96, down 2 percent. 

Ratio Speciality Co. for Trading posted a net profit of SR6.56 million for the first half of the year, up 5.96 percent year on year, driven by an 18.95 percent rise in sales and the positive effects of expansion through acquisitions. 

Its stock closed at SR9.05, down 2.21 percent. 

Shatirah House Restaurant Co., also known as BURGERIZZR, signed an agreement to acquire 60 percent of SHOVEL Coffee Bean Trading Co., funded through internal resources and subject to regulatory approvals. 

The deal supports BURGERIZZR’s expansion into the cafe market. The company’s shares rose 5.15 percent to SR16.02. 

Banque Saudi Fransi announced plans to issue US dollar-denominated Tier 2 capital notes under its Medium Term Note Program, targeting qualified investors domestically and internationally. 

The bank appointed Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets Limited, DBS Bank Ltd., Emirates NBD Bank PJSC, HSBC Bank plc, Mashreqbank PSC, Mizuho International plc, and Saudi Fransi Capital as joint lead managers. 


Saudi Arabia, Canada explore ways to enhance cooperation in technology, innovation 

Saudi Arabia, Canada explore ways to enhance cooperation in technology, innovation 
Updated 04 November 2025
Follow

Saudi Arabia, Canada explore ways to enhance cooperation in technology, innovation 

Saudi Arabia, Canada explore ways to enhance cooperation in technology, innovation 

RIYADH: Saudi Arabia’s technology and innovation partnership with Canada is set to receive a boost after senior ministers met to explore new avenues of cooperation and strengthen trade ties. 

Saudi Minister of Investment Khalid Al-Falih said in a post on X that he met with Canada’s Minister of Artificial Intelligence and Digital Innovation Evan Solomon to discuss ways to strengthen relations between the countries and to build partnerships that contribute to mutual economic growth, particularly in priority investment sectors. 

This comes as trade between the two nations continues to expand. In February, Saudi Arabia exported SR641 million ($170 million) to Canada, marking an 86.6 percent increase from SR344 million in February 2024, according to data from the Observatory of Economic Complexity.

It also follows an agreement in January 2024 for both countries to re-exchange trade delegations to enhance economic relations and boost trade and investment flows. 

In a subsequent post on X, Al-Falih stated: “The dialogue took place between me and Anita Anand, the Canadian Minister of Foreign Affairs, in the presence of the Saudi ambassador to Canada, Amal Yahya Al-Moallimi.” 

He added: “We discussed supporting and strengthening relations between our two countries, and facilitating investment exchange, in order to achieve more fruitful cooperation in the most important sectors, which will bring success to both peoples.” 

Artificial intelligence has become a central pillar of Saudi Arabia’s post-oil economic strategy, with the Kingdom leveraging advanced technologies to drive data-led industries and automation. 

Now at the halfway point of Vision 2030, the country is accelerating efforts to position itself as a global technology leader, balancing innovation with sustainability goals. 
Key initiatives — including the Project Transcendence program, valued at around $100 billion — aim to further establish Saudi Arabia as a global hub for AI innovation. 

Over the past five years, Saudi Arabia has made significant progress toward establishing itself as a regional artificial-intelligence hub. PwC projects that AI could contribute about $235 billion — or 12.4 percent — to the Kingdom’s gross domestic product by 2030.