Closing Bell: Saudi main index closes in red at 11,546 

Closing Bell: Saudi main index closes in red at 11,546 
Al Majed Oud Co. was the best-performing stock on the benchmark index. Shutterstock
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Updated 21 October 2025
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Closing Bell: Saudi main index closes in red at 11,546 

Closing Bell: Saudi main index closes in red at 11,546 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Tuesday, falling 98.75 points, or 0.85 percent, to close at 11,545.80. 

The benchmark index recorded a total trading turnover of SR4.91 billion ($1.31 billion), with 35 stocks advancing and 221 declining. 

The Kingdom’s parallel market Nomu also shed 149.66 points, or 0.59 percent, to close at 25,072.11. 

Meanwhile, the MSCI Tadawul Index fell 0.73 percent to 1,507.47. 

Al Majed Oud Co. was the best-performing stock on the benchmark index, as its share price increased by 3.36 percent to SR135.20. 

The share price of Americana Restaurants International rose 2.40 percent to SR2.13. 

Arabian Contracting Services Co. also saw its stock price climb by 1.79 percent to SR108.10. 

Conversely, the share price of Yamama Cement Co. declined by 9.99 percent to SR28.46. 

On the announcements front, Alinma Bank reported a net profit of SR4.67 billion for the first nine months of 2025, up 8.61 percent compared to the same period of the previous year. 

In a Tadawul statement, the financial institution attributed this rise to growth in financing and investments volume. Its third-quarter net profit rose 1.30 percent year on year to SR1.59 billion. 

Alinma Bank’s share price declined 0.53 percent to SR26.20. 

Bank Aljazira also released its results, reporting a nine-month net profit of SR1.14 billion, a 20.42 percent increase from the previous year. 

According to a Tadawul statement, this rise in profit was driven by a higher income from financing and investments, which increased as a result of portfolio growth. 

The financial institution’s third-quarter profit stood at SR400.1 million, marking an increase of 20.82 percent compared to the same period in 2024. 

The share price of Bank Aljazira dropped by 1.85 percent to SR12.72. 


Concierge demand surges as CEOs relocate to Saudi Arabia

Concierge demand surges as CEOs relocate to Saudi Arabia
Updated 12 November 2025
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Concierge demand surges as CEOs relocate to Saudi Arabia

Concierge demand surges as CEOs relocate to Saudi Arabia

RIYADH: As Saudi Arabia attracts a growing influx of CEOs and high-net-worth individuals, the demand for concierge and lifestyle management services is soaring — with requests becoming increasingly complex and personalized.

“There’s an avalanche of people, for all the reasons that you would know, relocating to Saudi Arabia,” said Sir Ben Elliot, founder of global luxury concierge firm Quintessentially, in an interview with Arab News during TOURISE — the Saudi Ministry of Tourism-powered global summit held in Riyadh from Nov. 11–13.

For many new arrivals, the focus is on navigating practicalities: opening bank accounts, securing cars and drivers, hiring domestic staff, and finding schools for their children. “You need real proactive help to sort stuff out,” Elliot said. “Some of that stuff is a minefield.”

Over the past 18 months, demand has not only increased but also evolved, prompting Quintessentially to enhance its local operations. Elliot explained that the company is merging international expertise with Saudi talent to ensure high service standards from the outset.

“We brought people from our offices around the world working with young, brilliant, talented Saudis so that the service that you can expect when you arrive is really ticked off,” he said.

Elliot noted that Quintessentially’s outbound support for Saudi members is also expanding, reflecting the growing global mobility of Saudi travelers. “What we’re seeing from Saudis themselves is huge,” he said. “We have great people on the ground servicing that.”

According to Elliot, the definition of luxury is shifting from material possessions to emotion-driven, experiential value — especially among younger consumers. “If you think about the history of luxury, it has often been about things, materials,” he said. “They want to experience, they want to feel.”

He emphasized that brands in hospitality, retail, and travel need to focus on “meaningful human touch and relationships.”

Elliot highlighted Saudi Arabia’s approach to merging sustainability with luxury as a key opportunity for the sector. “The Kingdom of Saudi Arabia is at the forefront of trying to marry sustainable development alongside a kind of luxury experience,” he said.

He pointed to Diriyah as an example of how cultural authenticity can coexist with modern hospitality and retail offerings. “Whenever I take friends who have never been to Saudi Arabia, to Diriyah, that to me is a physical manifestation of where culture (and) sustainability meets a pretty kind of modern experience,” he said. “It feels absolutely real and authentic.”

Elliot said hosting TOURISE in Riyadh was symbolic of the city’s rapid evolution. “Everyone can see what’s happened here in the last 6 or 7 years, it’s kind of seeing is believing,” he said.

He also reframed sustainability as a shared responsibility across industries, warning that leaders who fail to prioritize environmental and social impact risk alienating younger generations.

Despite the rise of technology, Elliot underscored that the essence of travel and tourism remains deeply human. “We humans want to interact with other humans,” he said.