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RIYADH: ������Ƶ’s Tadawul All Share Index slipped on Sunday, losing 35.42 points, or 0.33 percent, to close at 10,696.89.

The total trading turnover of the benchmark index reached SR3.16 billion ($842 million), with 38 stocks advancing and 217 declining.

The Kingdom’s parallel market Nomu also dropped, falling 360.62 points, or 1.37 percent, to 25,943.03, as 30 stocks advanced while 65 retreated.

The MSCI Tadawul Index shed 2.59 points, or 0.19 percent, to close at 1,382.06.

Development Works Food Co. was the day’s top performer, rising 6.53 percent to SR124. Arab National Bank gained 3.02 percent to SR24.21, while Banque Saudi Fransi advanced 2.96 percent to SR16.70.

On the downside, SABIC Agri-Nutrients Co. fell 5.44 percent to SR114.80. 

Rabigh Refining and Petrochemical Co. (Petro Rabigh) declined 5.14 percent to SR7.01. The company announced a board recommendation to raise its capital from SR16.7 billion to SR21.9 billion through issuing and privately offering new ordinary shares to founding shareholders, alongside a subscription agreement.

In corporate updates, Saudi Networkers Services Co. reported a net profit of SR20.6 million for the first half of 2025, up 4.4 percent from a year earlier, supported by higher revenues and improved margins. Its shares closed at SR73, up 6.84 percent.

Advance International Co. for Communication and Information Technology posted a net loss of SR2.9 million for the same period, compared with a profit of SR5.15 million last year. The company cited higher operating costs and lower selling prices in its wholesale and supplies division. Its shares ended at SR2.30, down 8.33 percent.

Arabian International Healthcare Holding Co. narrowed its losses to SR24.2 million, down 23.6 percent year on year, aided by stronger gross profit and lower impairment charges. Its shares closed at SR33.30, down 15.87 percent.

Saudi Parts Center Co. swung to a net loss of SR6.2 million in the first half of the year, versus a profit of SR689,000 last year, due to a 17 percent sales drop and weaker revenue from its Engine and Generator Repair Center. Its shares ended at SR42, down 13.04 percent.

Rawasi Albina Investment Co. turned to a net profit of SR1.19 million from a loss of SR9.7 million a year earlier, driven by higher revenues from completed projects and contract expansions in construction, telecoms, and energy. Its stock fell 7.69 percent to SR3.98.

RIYADH: Jordan has maintained its long-term sovereign credit rating at “BB-” with a stable outlook, according to S&P Global, underscoring the country’s resilience despite heightened regional security challenges.

In its latest assessment, the US-based ratings agency attributed the decision to Jordan’s macroeconomic stability, steady progress on financial and structural reforms, and continued international support, the state-run Petra news agency reported.

The outlook is further reinforced by improving fiscal performance. Official data show domestic revenues climbed 3.6 percent in the first half of 2025 to 4.67 billion dinars ($6.59 billion), supported by government measures to bolster public finances.

This increase of about 164.7 million dinars coincided with a reduction in public debt, which fell to 35.3 billion dinars, or 90.9 percent of gross domestic product, down from 92.7 percent in May, according to Central Bank of Jordan figures.

S&P expects Jordan’s economy to expand 2.6 percent in 2025, aided by a rebound in the travel and tourism industry, shifting regional dynamics, and a gradual pickup in trade with Syria and Iraq.

Growth is projected to accelerate to 3 percent in 2026 and 3.1 percent in 2027. The agency also forecasts the consolidated budget deficit will narrow from 2.8 percent of GDP in 2024 to 2.4 percent in 2025, with the debt-to-GDP ratio on a downward path over the medium term.

The agency noted that the Jordanian dinar’s peg to the US dollar has been instrumental in controlling inflation and maintaining monetary stability. Inflation is expected to hover around 2 percent in 2025, staying within manageable levels.

Finance Minister Abdul Hakim Al-Shibli has reiterated the government’s commitment to lowering the public debt ratio to 80 percent of GDP by 2028 under an IMF-backed reform program. He said the plan is designed to reinforce fiscal and economic stability, support sustainable growth, and protect citizens from additional financial burdens.

Jordan’s reform drive has gained momentum following the IMF’s completion of the third review of its Extended Fund Facility in June.

At the same time, the fund approved a new 48-month, $700 million Resilience and Sustainability Facility, aimed at boosting long-term resilience in the energy, water, and health sectors while advancing climate and pandemic preparedness.