MENA Project Tracker — ADSSC tenders Scada and data center contracts; Dubai investments to start $272m community project


RIYADH: Saudi Arabia’s main index dipped in anticipation of another large rate increase by the Federal Reserve on Wednesday.

The Tadawul All Share Index dropped 0.37 percent to end at 11,461, while the parallel market Nomu rose 0.23 percent at 20,265

Saudi oil giant Aramco ended the day with a 0.55 percent decline, while Rabigh Refining and Petrochemical Co. fell by 2.79 percent.

The Saudi National Bank, the Kingdom’s largest lender, decreased 0.63 percent, while Saudi British Bank declined 1.04 percent.

The Kingdom’s largest valued bank Al Rajhi Bank edged up 1.68 percent, while Alinma Bank added 0.68 percent.

Saudi Enaya Cooperative Insurance Co. climbed 6.59 percent to lead the gainers, after it received approval from the Capital Market Authority to reduce its capital by SR50 million ($13 million) to SR100 million.

Saudi Fisheries Co. slipped 1.82 percent, after signing a non-binding agreement with Oman Fish Co. for the purpose of strengthening cooperation in fisheries and fish farming.

Savola Group Co. shed 2.13 percent, after its shareholders agreed to sell all of Savola’s shares in Knowledge Economic City Co. to Taiba Investments Co. for SR459 million.

Saudi Arabia’s Public Investment Fund’s digital security firm Elm Co. lost 2.36 percent, after announcing it will distribute SR2 per share as dividends for the first half of the year.

 



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