Saudi companies strengthen their presence in Africa and seek opportunities in...
Saudi companies strengthen their presence in Africa and seek opportunities in India
In a decline, the largest of its kind since October (October) of 2020, the main Saudi financial market (TASI), yesterday, recorded a decrease of 2.7 percent, to close at 11,172 points, losing 314 points, amid liquidity of 7.1 billion riyals (1.8 billion). Billion dollar).
The decline in the Saudi financial market comes at a time when the major listed companies have recorded activity outside the borders, as Saudi “Maaden” announced the strengthening of its presence in Africa, while sources indicate that the Saudi Aramco company is touching investment opportunities in India.
According to Saudi stock trading yesterday, the general index recorded a violent decline, the third consecutive decline, accumulating the size of point losses to 650 points, with a total drop of 5.6 percent.
And the periodic statistical bulletin issued by the Saudi Capital Market Authority revealed that the number of investment portfolios for individuals in the Saudi stock market “Tadawul” increased by 8.9 percent at the end of the third quarter of 2021, compared to the same quarter of 2020, bringing the number of individual portfolios to about 10 Millions of investment portfolio.
According to yesterday’s trading, most of the sectors with weight in the general index declined, led by the banking, basic materials and energy sectors, as the shares of “Al-Rajhi Bank” – the most influential in the market movement – decreased by 5 percent, and the shares of “Al-Inma Bank” and “Al-Ahly Bank” ended. Saudi Arabia, “SABIC”, “Saudi Aramco” and “Maaden” are on the decline.
On the other hand, Saudi Aramco said, according to Bloomberg Agency, that it is continuing to search for investment opportunities in India, indicating that India provides great long-term growth opportunities, explaining that it will continue to evaluate new or existing business opportunities with potential partners. She indicated that she has a long-term relationship with Reliance Industries.
On the other hand, Lazarus Chakwera, President of the Republic of Malawi, inaugurated the “Liwandi” fertilizer station of the Saudi Mining Company “Ma’aden”, as the station is located on the railway line that connects to the port of Nacala in Mozambique, allowing greater access to Saudi exports of fertilizers it produces. Metals for the African market.
It is expected, according to the Saudi Press Agency, that the “Lionde” fertilizer station will contribute to boosting the growth of “Maaden” exports to African countries. The plant will provide access to a stable supply of high-quality fertilizers to more than 5 million farmers in the Republics of Malawi and Zambia, thus contributing to enhancing food security in Africa.
The station will contribute to strengthening Ma’aden’s position in one of the fastest growing agricultural regions in the world. The establishment of this station comes within the framework of Ma’aden’s strategic initiatives in Africa, which it started by acquiring Meridian Group in 2019.
Maaden’s Phosphate Production business includes 3 industrial complexes in the Kingdom; It is Waad Al-Shamal City for Mining Industries, which is a center for phosphate production in the Kingdom, and Ras Al-Khair Industrial City, which is another center for processing phosphate and bauxite, and the expansion of “Phosphate 3” which will achieve an increase in ammonia production by more than one million tons to reach 3.3 million tons.
The decline in the Saudi financial market comes at a time when the major listed companies have recorded activity outside the borders, as Saudi “Maaden” announced the strengthening of its presence in Africa, while sources indicate that the Saudi Aramco company is touching investment opportunities in India.
According to Saudi stock trading yesterday, the general index recorded a violent decline, the third consecutive decline, accumulating the size of point losses to 650 points, with a total drop of 5.6 percent.
And the periodic statistical bulletin issued by the Saudi Capital Market Authority revealed that the number of investment portfolios for individuals in the Saudi stock market “Tadawul” increased by 8.9 percent at the end of the third quarter of 2021, compared to the same quarter of 2020, bringing the number of individual portfolios to about 10 Millions of investment portfolio.
According to yesterday’s trading, most of the sectors with weight in the general index declined, led by the banking, basic materials and energy sectors, as the shares of “Al-Rajhi Bank” – the most influential in the market movement – decreased by 5 percent, and the shares of “Al-Inma Bank” and “Al-Ahly Bank” ended. Saudi Arabia, “SABIC”, “Saudi Aramco” and “Maaden” are on the decline.
On the other hand, Saudi Aramco said, according to Bloomberg Agency, that it is continuing to search for investment opportunities in India, indicating that India provides great long-term growth opportunities, explaining that it will continue to evaluate new or existing business opportunities with potential partners. She indicated that she has a long-term relationship with Reliance Industries.
On the other hand, Lazarus Chakwera, President of the Republic of Malawi, inaugurated the “Liwandi” fertilizer station of the Saudi Mining Company “Ma’aden”, as the station is located on the railway line that connects to the port of Nacala in Mozambique, allowing greater access to Saudi exports of fertilizers it produces. Metals for the African market.
It is expected, according to the Saudi Press Agency, that the “Lionde” fertilizer station will contribute to boosting the growth of “Maaden” exports to African countries. The plant will provide access to a stable supply of high-quality fertilizers to more than 5 million farmers in the Republics of Malawi and Zambia, thus contributing to enhancing food security in Africa.
The station will contribute to strengthening Ma’aden’s position in one of the fastest growing agricultural regions in the world. The establishment of this station comes within the framework of Ma’aden’s strategic initiatives in Africa, which it started by acquiring Meridian Group in 2019.
Maaden’s Phosphate Production business includes 3 industrial complexes in the Kingdom; It is Waad Al-Shamal City for Mining Industries, which is a center for phosphate production in the Kingdom, and Ras Al-Khair Industrial City, which is another center for processing phosphate and bauxite, and the expansion of “Phosphate 3” which will achieve an increase in ammonia production by more than one million tons to reach 3.3 million tons.
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