Thank you for reading the news about Oil Updates — Crude edged down; Russian shelling causes oil leak in Ukrainian facility; Iran, Venezuela sign cooperation plan and now with the details
Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s stock market ended the previous trading week slightly lower on Thursday, weighed down by spillover from global peers.
The main TASI index nudged 0.1 percent higher at 12,603, while the parallel market Nomu added 0.2 percent to 22,240.
Bahrain’s BAX ended flat, while stock exchanges in the UAE and Kuwait edged down.
Qatar added 1 percent to top the gainers in the Gulf, and the Omani index closed 0.1 percent higher.
Elsewhere in the Middle East, Egypt’s blue-chip index EGX30 was flat.
On Friday, Abu Dhabi extended losses by 0.2 percent, while Dubai was slightly up by 0.1 percent.
Oil prices fell as China imposed new COVID-19 lockdown measures. Brent crude settled at $122.01 a barrel and US West Texas Intermediate reached $120.67 a barrel.
Stock news
The board of Saudi Telecom Co., better known as stc, recommended a capital increase of 150 percent to SR50 billion ($13.3 billion)
PIF-owned ACWA Power Co. announced the start of operations at Abu Dhabi’s Taweelah $874 million water desalination plant, known as Al Taweelah IWP
Al-Baha Investment and Development Co. secured a Shariah-compliant loan worth SR65 million
Al Moammar Information Systems Co. was awarded a SR169 million project from the Saudi data and intelligence authority
Taiba Investments Co. purchased a commercial center in Riyadh for SR220 million
The Saudi National Bank announced the resignation of Sheila Othayeb Alrowaily as a board member
Keir International Co. set its price guidance at SR34 per share as it plans a direct listing on Saudi Arabia’s parallel market
Alkhorayef Water and Power Technologies Co. obtained SR257 million in financing to fund projects
Calendar
June 12, 2022
Arabian Food & Dairy Factories Co., known as Fadeco, will start trading its shares on Saudi Arabia’s stock market
June 14, 2022
Start of Rabigh Refining and Petrochemical Co.’s, or Petro Rabigh, subscription to new shares and rights trading
June 21, 2022
Rabigh Refining and Petrochemical Co.’s rights trading ends
June 26, 2022
Rabigh Refining and Petrochemical Co.’s subscription to new shares ends
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