Saudi Arabia aims to obtain $100bn investment in aviation sector by 2030: Minister Saleh Al-Jasser

RIYADH: Saudi Arabia’s main stock market, Tadawul, gained on Sunday as it reopened after the Eid break amid a rise in oil prices.

TASI, the main index, added 0.6 percent to 13,820 points, while the parallel market Nomu dropped 1.5 percent to 23,547 points.

Elsewhere in the Gulf, stock exchanges of Qatar, Bahrain, Oman, and Kuwait all edged down.

Egypt, on the other hand, recorded gains of 0.6 percent.

Oil prices extended gains on Monday after posting their second straight week of gains days earlier.

Brent crude oil reached $112.7 a barrel and US benchmark WTI rose to $109.92 a barrel at 8:04 a.m. Saudi time.

Stock news

Al Rajhi Bank’s shareholders approved the board’s recommendation to increase capital to SR40 billion ($10.7 billion) as well as distribute cash dividends of SR1.4 per share for 2021

Halwani Bros Co. recorded a 22 percent drop in profit to SR19.7 million in the first quarter as global inflation increased its cost burden

Al Khaleej Training and Education Co. appointed Abdul Aziz Al-Rashed as board chairman and Ahmed Al-Shadawi as vice-chairman

National Gas and Industrialization Co. signed an initial deal with Makeen Energy to boost operational efficiency and strengthen investment in gas supply sectors

Amana Cooperative Insurance Co.’s board has proposed increasing capital through a rights issue of SR300 million to support the company’s future plans

Al-Rajhi Cooperative Insurance’s net profit fell by 40.5 percent to SR40 million in the first quarter

Saudi Cable Co.’s shares will be suspended from trading starting Monday until its 2021 annual financial results are disclosed

Zamil Industrial Investment Co. announced the resignation of its CEO Abdulla Al-Zamil and the appointment of Mohammed Al-Sahib with immediate effect

Zamil Industrial also appointed Abdulla Al-Zamil as board chairman and Bander Al-Zamil as vice chairman for a three-year term

Unitholders of Alkhabeer REIT are set to receive quarterly dividends of SR17.6 million in total for the period ending March 31

Calendar

May 11, 2022

Start of Arabian Food & Dairy Factories Co.’s IPO book-building

May 15, 2022

Saudi Aramco will disclose its financial results for the first quarter of 2022

End of Arabian Food & Dairy Factories Co.’s IPO book-building

May 22, 2022

Start of Amwaj International Co.’s IPO book-building

May 25, 2022

End of Amwaj International Co.’s IPO book-building