RIYADH: Saudi Arabia’s Tadawul All Share Index shed 53.42 points, or 0.47 percent, on Tuesday to close at 11,275.77.
The parallel market Nomu, which lost 183.81 points on Monday, rose by 230.64 points to close at 20,834.64 on May 23. The MSCI Tadawul Index dropped 0.73 percent to 1,509.98.
The total trading turnover of the benchmark index was SR6.64 billion ($1.77 billion).
East Pipes Integrated Co. for Industry was the top performer as its share price surged 7.55 percent to SR65.50.
RIYADH: Saudi Arabia’s NEOM Green Hydrogen Company (NGHC) signed financial documents with 23 local, regional and international banks and investment firms on a green hydrogen production facility at a total investment value of $8.4 billion on Monday.
The plant is currently being built at Oxagon, in Saudi Arabia’s region of NEOM.
RIYADH: Fueled by significant growth in the Saudi travel and tourism sector, air traffic witnessed a strong rebound during the first four months of 2023, recording a 42 percent increase in the number of passengers compared to the same period last year.
According to the latest report issued by the General Authority of Civil Aviation, the number of passengers jumped to 35.8 million in the first four months of 2023, up from 25.3 million during the same period last year.
RIYADH: Transition investment could be the linchpin in the UAE’s efforts to meet the global funding gap of $4.3 trillion per year to achieve the UN Sustainable Development Goals by 2030, a research report indicated.
New York University Abu Dhabi’s Transition Investment Lab in its annual report suggested that the UAE’s institutional investors should focus on transition investment — a strategy aimed at achieving socio-economic impact along with financial returns — to overcome the funding gaps.
RIYADH: Improved operational capabilities at Jeddah Islamic Port led to a 25.07 percent surge in container throughput during April, according to a statement released by the General Authority for Ports, also known as Mawani.
The total number of containers handled reached 465,438, up from the 372,064 recorded in April 2022.
This rise came as Mawani further ramped up its infrastructure at Saudi ports while ensuring supply chain reliability.
It also cements the authority’s efforts to facilitate import, export and maritime trade operations.
RIYADH: More than 50 companies from Slovakia are hoping to foster trade and investment partnerships with their Saudi counterparts through a special business forum, according to the Kingdom’s official press agency.
Top delegates from Saudi Arabia and the European country assembled at the first meeting of the group in Riyadh to discuss ways to cultivate their relationship and boost economic ties between both nations.
CAIRO: The UAE International Investors Council has signed a memorandum of understanding with the Egyptian-Emirati Business Council to enhance existing investment partnerships, the Emirates News Agency reported on Monday.
The memorandum aims to increase investment opportunities in the new economy, green projects, recycling, clean projects, the technology sector, and new digital technologies.