Finance

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Closing Bell

Saudi POS spending hits $4bn pre-Adha, fueled by increased spending across all sectors

owen.bennett — Wed, 04 Jun 2025 09:13:22 +0000

article author:

Miguel Hadchity

Wed, 2025-06-04 12:00

RIYADH: ��Ƶ’s point-of-sale transactions climbed 33 percent to SR15.5 billion ($4.15 billion) in the week preceding Eid Al-Adha, driven by increased spending across all sectors.

The latest data from the Saudi Central Bank, also known as SAMA, showed that the clothing and footwear sector led the growth seen in the week ending May 31, registering the largest jump in transaction value, up 72.7 percent to SR1.2 billion.

The sector also saw a 61.6 percent rise in the number of transactions, reaching 8.6 million.

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Closing Bell: Saudi main index closes in red at 10,832

owen.bennett — Tue, 03 Jun 2025 13:13:54 +0000

article author:

Nirmal Narayanan

Author:

Tue, 2025-06-03 15:55

RIYADH: ��Ƶ’s Tadawul All Share Index slipped on Tuesday, as it shed 17.66 points, or 0.16 percent, to close at 10,832.43.

The total trading turnover of the benchmark index was SR3.55 billion ($946 million), with 123 of the listed stocks advancing and 106 declining.

The Kingdom’s parallel market Nomu gained 65.84 points to close at 27,049.84.

The MSCI Tadawul Index edged down by 0.08 percent to 1,383.41.

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Closing Bell

Qatar records $137m budget deficit in Q1, ending 3-year surplus streak

shahrukh.jamshed — Tue, 03 Jun 2025 12:46:49 +0000

article author:

Dayan Abou Tine

Author:

Tue, 2025-06-03 15:44

RIYADH: Qatar posted its first budget deficit in more than three years — a 500 million Qatari riyal ($137 million) shortfall in the first quarter of 2025, the Ministry of Finance reported.

Ministry figures show the same period last year registered a 2.06-billion-riyal surplus.

This comes as Doha undertakes a cautious fiscal recalibration mid-way through its Third National Development Strategy, relying on conservative oil-price assumptions, program-based budgeting, and a long-anticipated value-added tax rollout to diversify revenue.

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Saudi Aramco secures $5bn in bond sale to bolster financial flexibility

shahrukh.jamshed — Tue, 03 Jun 2025 12:01:36 +0000

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Author:

Tue, 2025-06-03 14:59

RIYADH: Saudi Aramco has raised $5 billion through a three-tranche bond issuance under its Global Medium-Term Note Program, the company said.

The senior notes, which were priced on May 27 and listed on the London Stock Exchange, include $1.5 billion maturing in 2030 at a 4.75 percent coupon, $1.25 billion maturing in 2035 at 5.375 percent, and $2.25 billion maturing in 2055 with a 6.375 percent coupon.

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Saudi banks’ new-home lending jumps 24% to $9bn despite higher rates

owen.bennett — Tue, 03 Jun 2025 10:53:05 +0000

article author:

Dayan Abou Tine

Author:

Tue, 2025-06-03 13:44

RIYADH: Saudi banks extended SR34.1 billion ($9.1 billion) worth of fresh residential mortgages to individuals in the first four months of 2025, up 24.14 percent from the same period last year.

Latest data from the Saudi Central Bank, also known as SAMA, shows that January led the surge with SR10.5 billion in new loans, followed by February at SR8.9 billion, March at SR8.4 billion and April at SR6.3 billion.

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Saudi airline flynas’ IPO oversubscribed by nearly 350%

owen.bennett — Tue, 03 Jun 2025 09:44:34 +0000

article author:

Nadin Hassan

Author:

Tue, 2025-06-03 12:34

RIYADH: Saudi low-cost carrier flynas finalized its initial public offering share allocation at SR80 ($21) per share, the top of its indicated range, following robust demand from institutional and retail investors.

The pricing values the airline at an estimated market capitalization of SR13.6 billion at listing.

The offering comes after flynas announced plans last month to float 30 percent of its share capital on the Saudi Exchange, becoming the first airline in the Kingdom to go public and the Gulf’s first in nearly two decades.

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Saudi Public Investment Fund (PIF)

PIF-backed D360 bank eyes global investors for Series A round

owen.bennett — Tue, 03 Jun 2025 09:11:42 +0000

article author:

Arab News

Author:

Tue, 2025-06-03 12:03

RIYADH: ��Ƶ’s Public Investment Fund-backed digital bank D360 is in early talks with potential global investors as it prepares for a Series A funding round planned for the second half of 2025.

The Shariah-compliant lender, which began operations in December, is targeting the first quarter of 2026 to complete the raise, CEO Eze Szafir said in an interview with Bloomberg.

This development follows the bank’s successful securing of around $500 million from existing shareholders, including PIF and Derayah Financial Co.

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Closing Bell: Tadawul closes higher on Monday as TASI edges up; Nomu surges over 300 points

owen.bennett — Mon, 02 Jun 2025 14:42:36 +0000

article author:

Mon, 2025-06-02 17:38

RIYADH: ��Ƶ’s Tadawul All Share Index closed slightly higher on Monday, gaining 24.82 points, or 0.23 percent, to reach 10,850.09.

Total trading turnover on the main market stood at SR4 billion ($1 billion).

Market breadth remained mixed, with 116 gainers against 120 decliners. The MSCI Tadawul 30 Index rose 2.47 points, or 0.18 percent, to settle at 1,384.58.

The parallel market Nomu recorded a more pronounced gain, climbing 314.77 points, or 1.18 percent, to 26,984, with 31 stocks advancing and 49 retreating.

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Closing Bell

Closing Bell: Saudi main index closes in red at 10,825

brittany.lucas — Sun, 01 Jun 2025 13:04:42 +0000

article author:

Miguel Hadchity

Sun, 2025-06-01 15:55

RIYADH: ��Ƶ’s Tadawul All Share Index dipped on Sunday, losing 165.14 points, or 1.50 percent, to close at 10,825.27.
The total trading turnover of the benchmark index was SR4.27 billion ($1.13 billion), as 31 of the listed stocks advanced, while 215 retreated.
The MSCI Tadawul Index decreased by 21.69 points, or 1.55 percent, to close at 1,382.11.
The Kingdom’s parallel market Nomu dipped, losing 140.52 points, or 0.52 percent, to close at 26,669.23. This comes as 20 of the listed stocks advanced while 61 retreated.

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��Ƶ opens June round of Sah savings sukuk with 4.76% return

shahrukh.jamshed — Sun, 01 Jun 2025 11:26:38 +0000

article author:

Sun, 2025-06-01 14:25

RIYADH: ��Ƶ has opened the June subscription window for its savings sukuk product “Sah,” offering a return rate of 4.76 percent, as part of its 2025 issuance calendar.

Organized by the National Debt Management Center under the Ministry of Finance, Sah is the Kingdom’s first savings-focused sukuk designed for individual investors.

The Shariah-compliant, riyal-denominated product is part of the local bonds program aimed at fostering financial inclusion and increasing personal savings.

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Oman’s banking sector credit rises 9% to $87.3bn

shahrukh.jamshed — Sun, 01 Jun 2025 10:41:38 +0000

article author:

Sun, 2025-06-01 13:24

RIYADH: Total outstanding credit extended by Oman’s banking sector, comprising both conventional and Islamic institutions, rose by 9 percent year-on-year to 33.6 billion Omani rials ($87.3 billion) at the end of April, according to new data.

According to the Central Bank of Oman, private sector credit rose by 7 percent to 27.8 billion rials. Non-financial corporations held the largest share at 46.6 percent, followed closely by the household sector at 44 percent.

Financial corporations held 5.6 percent, while other sectors represented the remaining 3.7 percent.

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Digital shift keeps Saudi credit card borrowing above $8bn and just 2% below record level

owen.bennett — Fri, 30 May 2025 09:00:29 +0000

article author:

Dayan Abou Tine

Author:

Fri, 2025-05-30 11:33

RIYADH: Credit card loans from Saudi banks posted their second-highest figure on record in the first quarter of 2025, after an annual rise of 12.53 percent.

According to the Saudi Central Bank, also known as SAMA, this borrowing of SR30.66 billion ($8.18 billion) is just 2 percent below the all-time peak recorded at the end of 2024.

SAMA figures also revealed that consumer loans reached SR479.78 billion in what was a 6.41 percent rise during the same period.

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