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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Saudi stocks shoot up on the back of high oil prices

In the financial sector, the Kingdom’s largest valued bank Al Rajhi Bank saw its share price drop 0.13 percent.
By TRENDS Desk
March 9, 2022 9:46 pm
  • Oil prices kept rising rapidly, as Brent crude oil peaked at $130.85 per barrel, while US WTI crude reached $125.96 per barrel
  • Wataniya Insurance Co. gained 4.40 percent at the opening bell to be the top gainer at the opening bell

Nudged by high oil prices, Saudi stocks inched up as the main index, TASI, gained 0.24 percent to touch 12,882, while the parallel market fell 0.22 percent to 24,487.

Oil prices kept rising rapidly, as Brent crude oil peaked at $130.85 per barrel, while US WTI crude reached $125.96 per barrel.

Wataniya Insurance Co. gained 4.40 percent at the opening bell to be the top gainer at the opening bell.

Rabigh Refining and Petrochemical Co. dropped 2.08 percent, despite turning into profit of SR2 billion ($533 million) in 2021.

Saudi Co. for Hardware decreased 2.87 percent, as it turned into losses of SR28 million during 2021.
In the financial sector, the Kingdom’s largest valued bank Al Rajhi Bank saw its share price drop 0.13 percent.

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