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RIYADH: Saudi Arabia’s main stock index TASI fell below the 12,000 level for the first time in months on Wednesday, as investor fears shifted to a possible global recession.

TASI dropped 0.35 percent to close at 11,978, and the parallel market Nomu shed almost 1 percent to 21,301.

Stock exchanges of Qatar, Egypt, and Oman retreated in line with Saudi Arabia.

However, Dubai’s bourse added 1.2 percent to lead the gainers in the region. Abu Dhabi, Bahrain, and Kuwait also advanced between 0.2 and 0.4 percent.

Oil prices were down on Thursday, with Brent crude reaching $118.96 a barrel and US West Texas Intermediate falling to $115.89 a barrel at 9:02 a.m. Saudi time.

Stock news

Naba Alsaha Medical Services Co., International Human Resources Co., and Rawasi Albina Investment Co. got approval from the Capital Market Authority for listing on Saudi Arabia’s parallel stock market

Saudi Real Estate Co. restructured a SR2.07 billion ($551 million) loan with the Saudi National Bank to optimize the company’s cash flows

AME Co. for Medical Supplies received shareholders’ approval to distribute SR1.75 per share in cash dividends for 2021

Riyadh Cement Co. named Salah Al-Rashed as board chairman and Khaled Al-Mulhem as vice-chairman

Al Alamiya for Cooperative Insurance Co. secured a SR72 million deal to provide insurance services to Riyad Bank

Shareholders of Fesh Fash Snack Food Production Co. approved the payout of SR1 per share in cash dividends for 2021

The Mediterranean and Gulf Cooperative Insurance Co. appointed Rakan Abunyan as chairman of the board and Youssef Al Yousefi as vice chairman for a three-year term

Mouwasat Medical Services Co. received approval from the Ministry of Health to start operations at its new hospital in Madinah

Calendar

June 16, 2022

Amwaj International Co. will start trading its shares on the parallel Nomu market

June 21, 2022

Rabigh Refining and Petrochemical Co.’s rights trading ends

June 26, 2022

Rabigh Refining and Petrochemical Co.’s subscription to new shares ends