Iraqi Kurdistan’s oil output could halve without investment: Reuters
Follow-ups -eshrag News:
RIYADH: Saudi stocks ended Monday’s session flat after starting the week lower on Sunday, as weak market sentiment dampened equity performance.
Investors grew wary ahead of the Fed’s decision, fearful of more aggressive interest rate hikes in the US and Europe that would expose the region to similar policy moves.
The main benchmark index TASI finished almost unchanged at 12,530, while the parallel Nomu market settled 1.2 percent down at 21,510.
Qatar, Oman, and Dubai lost between 0.2 percent and 0.8 percent, while the Abu Dhabi index slipped 1.1 percent to lead the fallers in the Gulf.
Bahrain and Kuwait bucked the trend as they added 0.6 percent and 0.4 percent, respectively.
Elsewhere in the Middle East, Egypt’s main index extended losses by 0.6 percent.
Oil prices continued to rebound as investors eyed potential OPEC+ output cuts.
Brent crude rose over $3 a barrel to $104.54 and US West Texas Intermediate reached $96.92 a barrel by 9:16 a.m. Saudi time on Tuesday.
Stock news
Arabian International Healthcare Holding Co. completed the acquisition of a controlling SR214 million ($57 million) stake in Saudi medical rival Innovative Care Co.
Maharah Human Resources Co. will distribute SR1.25 per share in dividends for the first half of 2022
Al-Jouf Cement Co. received shareholders’ approval for a capital reduction of 24 percent to SR1.09 billion
Canadian Medical Center Co.’s shareholders will receive a dividend payout of SR1.5 per share for the first half of 2022
Saudi Steel Pipe Co. won a contract worth SR88 million for the supply of oil and gas pipes to Uruguay-based Tenaris Global Services
Scientific & Medical Equipment House was awarded an SR118 million deal to operate an educational health services center at Najran University
Naqi Water Co. signed an agreement to sell and export its products to Oman
Sipchem announced that a fire broke out in a factory owned by its unit Saudi Specialized Products Co. in Hail city
The Capital Market Authority approved Albilad Investment Co.’s request to offer Albilad MSCI US Tech exchange-traded fund’s units on the Saudi Exchange
Calendar
September 11, 2022
Start of Arabian Plastic Industrial Co.’s IPO book-building
September 13, 2022
End of Arabian Plastic Industrial Co.’s IPO book-building
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