Saudi telecom firm stc to set up cloud computing unit with eWPTA-led consortium 

Saudi telecom firm stc to set up cloud computing unit with eWPTA-led consortium 
Saudi telecom firm stc to set up cloud computing unit with eWPTA-led consortium 

Thank you for reading the news about Saudi telecom firm stc to set up cloud computing unit with eWPTA-led consortium  and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: Saudi stocks closed lower on Sunday as inflation concerns rattled global stock markets, causing investors to remain cautious.

The main index, TASI, dropped 0.75 percent to reach 12,334, while the parallel market, Nomu, lost 0.80 percent to reach 22,329.

The Kingdom Holding Co. soared 9.90 percent, after Saudi Arabia's PIF acquired a 16.87 percent stake in the firm from Saudi billionaire Prince Alwaleed bin Talal.

Gainers included Lazurde Co. for Jewelry, which gained 4.57 percent, after its first-quarter profit rose 34 percent.

Saudi Home Loans Co. shed 0.30 percent, despite reporting an increase in the company's first-quarter profit of 9.8 percent.

The National Agricultural Development Co., known as NADEC, added 1.00 percent after reporting a 137 percent increase in profit for the first quarter.

Al-Baha Investment and Development Co. slipped 4.17 percent following its proposal to reduce its capital by 25 percent.

In the financial sector, the Kingdom’s largest valued bank Al Rajhi edged down 0.64 percent, while Alinma Bank shed 1.95 percent.

In the pharma sector, both companies reversed the morning's gains. Aldawaa Medical Services Co. fell 1.68 percent, and Nahdi Medical Co. lost 1.40 percent.

Saudi , the largest player on the Saudi oil market, closed today’s trading down 1.38 percent.

Shares of Buruj Cooperative Insurance Co. plunged 10 percent to lead the fallers list.

Oil prices settled slightly higher on Friday. Brent crude rose to $112.55 a barrel and US West Texas Intermediate crude reached $110.28 a barrel.

These were the details of the news Saudi telecom firm stc to set up cloud computing unit with eWPTA-led consortium  for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT Ministry of Economy and Planning signs MoU with Saudi National Institute of Health

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]