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Business

Saudi Main Index Dips, Parallel Market Soars at Closing Bell

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped slightly on Thursday as it shed 16.89 points, or 0.15 percent, to close at 11,516.14. The total trading turnover of the benchmark index was SR9.25 billion ($2.47 billion), as 89 stocks advanced, while 116 retracted. The Kingdom’s parallel equity market, Nomu, continued its spectacular performance for the third consecutive day as it soared 2,048.72 points, or 8.21 percent, to reach 26,977.60. The MSCI Tadawul Index, however, dropped 0.05 percent to close at 1,518.74.
sport

“Privatization Considered by Elite Saudi Football Clubs Amid Winds of Change”

RIYADH: A revolution is taking place in Saudi football, on and off the pitch. As some of the world’s best players increasingly look to the possibility of playing in the Roshn Saudi League, the prospect of privatization — and the benefits it could bring — is in the air at the Kingdom’s elite clubs. On Sunday, it was reported that Karim Benzema, who received the Ballon d’Or last October, had agreed to sign for Al-Ittihad, just days after the Jeddah giants celebrated clinching a first league title since 2009.
Business

Saudi Banks’ April Profits Jump 3.4% to $1.55B

RIYADH: The aggregate profit of banks operating in Saudi Arabia increased by 3.4 percent year on year in April to reach SR5.78 billion ($1.55 billion), according to the latest figures released by the Saudi Central Bank, also known as SAMA.  The report, however, noted that the aggregate profits of Saudi banks fell by SR1.65 billion month on month in April. In March, banks in Saudi Arabia reported an aggregate profit of SR7.43 billion. 
Business

TASI drops 0.47% and Nomu gains 231 points at closing bell

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. 
Business

TASI drops despite healthcare sector rally at closing bell

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped 24.18 points, or 0.22 percent, to close at 11,206.02 on Tuesday as 111 of the 224 stocks rose, while 95 declined.  Stocks listed on the Pharma, Biotech, & Life Science index soared the most, with a 9.28 percent climb, while the stocks of the Energy and the Telecommunication sectors fell 1.96 and 1 percent, respectively.  While the parallel market Nomu rose 0.57 percent to close at 20,682.62, the MSCI Tadawul Index dropped by 0.18 percent to close at 1,504.59. 
News

Ukraine President Zelensky’s First War Phone Call with China’s President Xi

Ukraine's president says his first call with China's leader since Russia's invasion was "meaningful".
Opinions

“Is the US Worth Visiting Anymore?”

Before COVID-19, my family would holiday in a welcoming village near Boston. But has America's darkness infected it too?
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UNRWA Planning Chief: Organization Vital to Halting Gaza Famine

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LONDON: The planning director of the UN Relief and Works Agency for Palestine Refugees in the Near East has said the “squeezed” organization must remain “the backbone of any humanitarian response” to preventing starvation in Gaza. Sam Rose warned that 300,000 people in Gaza are at risk of famine as Israel hampers efforts to get aid into the enclave, six months after the outbreak of war following the Oct. 7 Hamas attack.

Boycott brands supporting Israel with TOME app

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A new app in the US is helping people to boycott businesses deemed to be supporting Israel and its war on Gaza.

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Parental Liability in Crumbley School Shooting Case

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US military destroys Houthi air defense and drones in Red Sea | TOME

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WASHINGTON: The US military said on Monday it destroyed air defense and drone systems of Yemen’s Iran-aligned Houthi forces in the area of the Red Sea, with no injuries or damage reported to commercial, US and coalition ships. The US Central Command said on X its forces had destroyed an air defense system with two missiles ready to launch, a ground control station in Houthi-controlled areas of Yemen and one unmanned aerial system launched by the Houthis from Yemen over the Red Sea.

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