Saudi Arabia spends $503m on water projects in Northern Borders region

Saudi Arabia spends $503m on water projects in Northern Borders region
Saudi Arabia spends $503m on water projects in Northern Borders region

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Jeddah - Yasmine El Tohamy - RIYADH: The Saudi main index closed its first session of the week lower in line with a slowing global economy, which remains a source of concern.

The Tadawul All Share Index dipped 1.63 percent to end Sunday at 11,566, while the parallel market Nomu edged 1.39 percent lower to 19,941.

Saudi oil giant ended with the session flat, while Rabigh Refining and Petrochemical Co. edged down 1.85 percent.

The Saudi National Bank, the Kingdom’s largest lender, fell 0.46 percent, while Saudi British Bank declined by 0.25 percent.

The Kingdom’s most valued bank Al Rajhi slipped 2.14 percent, while Alinma Bank slipped 2.25 percent.

Almarai Co. declined 4.15 percent, despite its net profit increasing 10 percent year-on-year to SR1.4 billion ($372 million) in the third quarter of the year.

Dr. Sulaiman Al Habib Medical Services Group Co. fell 2.95 percent, following the appointment of Faisal Al Nassar as acting CEO after Nasser Al-Huqbani resigned.

Saudi Enaya Cooperative Insurance Co. sank 3.89 percent, after it received the Saudi Central Bank’s approval to increase its capital to SR230 million.

Tanmiah Food Co. gained 4.04 percent to lead the gainers, while Salama Cooperative Insurance Co. decreased 7.93 percent to lead the fallers.

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