Saudi developer Retal Urban posts 62% profit growth after TASI debut

RIYADH: The Saudi stock market posted its second biggest monthly decline of the year in June, led by fears of interest rate hikes weighing on investor optimism.

TASI, as the main index is known, ended June down 11% to hit 11,523 at Thursday’s session closing bell, while Nomu ended the month at 21,585.

Elsewhere in the Gulf, stock exchanges in Dubai, Qatar, Abu Dhabi and Oman lost between 0.1 and 0.7%, while those in Bahrain and Kuwait rose 0.8 and 0 respectively. .2%.

In energy trading, Brent settled at $111.63 a barrel on Friday, while US West Texas Intermediate hit $108.43 a barrel.

Stock market news

The Saudi National Bank will distribute dividends of SR4.9 billion ($1.3 billion) in total to its shareholders for the first half of 2022

Saudi Industrial Development Co.’s Sleep High unit signed an agreement worth SR12.7 million per year with Emmdad Logistics Services

Al Moammar Information Systems Co. won a SR34.4 million project with Saudi Co. for full technical and security oversight, in addition to a SR21.9 million deal with King Abdulaziz City for science and technology

Al Moammar Information Systems Co. Board of Directors approved the distribution of SR 1.2 per share in dividends for the first half of 2022

Arabian Pipes Co. has won a SR60 million contract to supply oil and gas steel pipes to oil giant Aramco

International Human Resources Co. intends to make an initial public offering of 20% equity in the parallel market of Nomu in Saudi Arabia

Arabian Centers Co. has declared a cash dividend of SR 0.75 per share for the second half of its financial year ended March 31, 2022

Banque Saudi Fransi signed a SR44 million contract with Allianz Saudi Fransi Cooperative Insurance Co. for borrower insurance coverage

ACWA Power Co. shareholders approved recommendation to distribute dividend of SR 0.77 per share for 2021

Thimar Development Holding Co. losses widen 79% to SR11.7m in 2021

Bupa Arabia for Cooperative Insurance Co. shareholders approved payment of dividend of SR 4.5 per share for financial year 2021

The azurde Co. for Jewelry has obtained shareholder approval to distribute cash dividends of SR0.25 per share for 2021

Al-Alamiya for Cooperative Insurance Co. has entered into a five-year bancassurance distribution agreement with Riyadh Bank

Unitholders of Albilad Saudi Sovereign Sukuk ETF are expected to receive SR80,808 in total in cash dividends for the month of June

Saudi Real Estate Co. subsidiary Tamear has secured shareholder approval to reduce capital from SR100 million to SR34 million

Calendar

July 4, 2022

Launch of Single Stock Futures Trading on Tadawul

July 7, 2022

Saudi Exchange to close for Eid Al Adha holiday and resume trading on July 13