Cairo to Jeddah sector ranks 2nd busiest international route of 2023

Cairo to Jeddah sector ranks 2nd busiest international route of 2023
Cairo to Jeddah sector ranks 2nd busiest international route of 2023

Thank you for reading the news about Cairo to Jeddah sector ranks 2nd busiest international route of 2023 and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 80.97 points, or 0.69 percent, to close at 11,621.93.

The total trading turnover of the benchmark index was SR5.24 billion ($1.39 billion) as 63 of the listed stocks advanced, while 154 retreated. 

Similarly, the MSCI Tadawul Index dipped 1.42 points, or 0.76 percent, to close at 1,501.09.

The Kingdom’s parallel market Nomu rose by 55.10 points, or 0.23 percent, to close at 23,782.05. This comes as 20 of the listed stocks advanced while 31 retreated.

The best-performing stock of the day was Saudi Real Estate Co., whose share price surged 4.76 percent to SR14.52.

Other top performers include Arabian Centres Co. and Saudi Automotive Services Co., whose share prices soared by 3.96 percent and 3.61 percent to stand at SR21 and SR71.80, respectively.

In addition to this, other top performers included Aldrees Petroleum and Transport Services Co. and Amlak International Finance Co.

The worst performer was National Medical Care Co., whose share price dropped by 4.65 percent to SR156.

Other worst performers were Al Sagr Cooperative Insurance Co. as well as Batic Investments and Logistics Co., whose share prices dropped by 3.41 percent and 3.21 percent to stand at SR24.92 and SR2.11, respectively.

Moreover, other worst performers also include Astra Industrial Group and Alamar Foods Co.

On the announcements front, and following a statement released by Fawaz Abdulaziz Alhokair Co. on Tadawul regarding ongoing discussions with Arabian Centres Co. about a possible business merger, the directors of both companies have collectively decided to temporarily halt these discussions until further notice. 

Despite recognizing the strategic advantages of a potential merger, both entities believe that the existing conditions and timing are not conducive to the successful combination of their businesses at this point.

Also, the Saudi Capital Market Authority has approved the listing of Kinan International for Real Estate Development and Al-Muhafatha for Education on the parallel market Nomu.

According to Al-Ekhbariya, Kinan will offer 3.6 million shares, and Al-Muhafatha will offer 1.6 million shares. 

The opportunity is limited to qualified investors, with the issuance prospectus to be released before the start of the offering. Investors are advised to consult a financial advisor. 

The CMA’s approval is valid for six months, and the offering must be completed within this period.

These were the details of the news Cairo to Jeddah sector ranks 2nd busiest international route of 2023 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 US Fed holds key rate steady for fourth straight meeting

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]