Saudi IT firm Al Moammar secures $15m in contracts with two firms

Saudi IT firm Al Moammar secures $15m in contracts with two firms
Saudi IT firm Al Moammar secures $15m in contracts with two firms

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Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s stock market posted its second-largest monthly decline of the year in June, led by fears of interest rate hikes weighing on investor optimism.

TASI, as the main index is known, ended June losing 11 percent to reach 11,523 at the closing bell of Thursday’s session, while Nomu exited the month at 21,585.

Elsewhere in the Gulf, stock exchanges of , Qatar, Abu Dhabi, and Oman shed between 0.1 and 0.7 percent, while those of Bahrain and Kuwait were up 0.8 and 0.2 percent, respectively.

In energy trading, Brent crude settled at $111.63 a barrel on Friday, while US West Texas Intermediate reached $108.43 a barrel.

Stock news

The Saudi National Bank will distribute dividends of SR4.9 billion ($1.3 billion) in total to its shareholders for the first half of 2022

Saudi Industrial Development Co.’s unit Sleep High signed a deal worth SR12.7 million annually with Emmdad Logistics Services

Al Moammar Information Systems Co. won a SR34.4 million project with the Saudi Co. for Comprehensive Technical and Security Control in addition to a SR21.9 million deal with King Abdulaziz City for Science and Technology

Al Moammar Information Systems Co.’s board of directors approved the distribution of SR1.2 per share in dividends for the first half of 2022

Arabian Pipes Co. was awarded a SR60 million deal to supply oil and gas steel pipes to oil giant

International Human Resources Co. intends to proceed with a 20-percent stake initial public offering on Saudi Arabia’s parallel Nomu market

Arabian Centres Co. declared a cash dividend of SR0.75 per share for the second half of its fiscal year ended March 31, 2022

Banque Saudi Fransi signed a SR44 million contract with Allianz Saudi Fransi Cooperative Insurance Co. for credit life insurance coverage

Shareholders of ACWA Power Co. approved the recommendation to distribute a SR0.77 dividend per share for 2021

Thimar Development Holding Co.’s losses widened by 79 percent to SR11.7 million in 2021

Shareholders of Bupa Arabia for Cooperative Insurance Co. approved a dividend payout of SR4.5 per share for the fiscal year 2021

L’azurde Co. for Jewelry got its shareholders’ approval to distribute cash dividends of SR0.25 per share for 2021

Al-Alamiya for Cooperative Insurance Co. sealed a five-year bancassurance distribution agreement with Riyad Bank

Unitholders of Albilad Saudi Sovereign Sukuk ETF are set to receive SR80,808 in total as cash dividends for the month of June

Saudi Real Estate Co.’s subsidiary Tamear got its shareholders’ approval to reduce capital from SR100 million to SR34 million

Calendar

July 4, 2022

Launch of single-stock futures trading on Tadawul

July 7, 2022

Saudi Exchange will close for Eid Al Adha holidays and resume trading on July 13

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