SASE:2200

5 stories mentioning SASE:2200

Every FINWIRES story that references SASE:2200, newest first.

Tadawul Shares Close Higher After Week-long Eid Holidays; Senaat Unit Plans Main Market Listing

The Tadawul All Share Index closed 0.29% in the green on Sunday as investors assessed a potential new listing, among other corporate announcements.Saudi Industrial Development Co. (SASE:2130), d/b/a SIDC, gained the most at 9.98% during the session, which resumed after a week-long hiatus for Eid.Gulf Insulation Group, a unit of Advanced Building Industries (SASE:2240), d/b/a Senaat, filed an application with the Saudi Exchange to list its shares on the main market, sending the Saudi builder's stock up 2.49% at closing.Arabian Pipes Co. (SASE:2200) entered into a 62 million-Saudi-riyal contract with Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco, to produce and deliver steel pipes to the oil giant for 10 months. The steel tube manufacturer's shares rose 2.32%, while Aramco's shares fell 1.29%.In broader news, Saudi Arabia may reduce oil prices for Asian buyers again in July as the potential for a US-Iran deal to end the war and reopen the Strait of Hormuz weakens demand, Reuters reported, citing a survey of unidentified industry sources. The July official selling price for flagship Arab Light crude could decline to a premium of $7.50 to $12.50 per barrel above the average Dubai and Oman quotes, $3 to $8 a barrel below the June OSP.At the same time, US Defense Secretary Pete Hegseth said on May 30 that the administration is prepared to resume attacks on Iran if Washington and Tehran can not enter an agreement. At the Asian forum for defense leaders Shangri-La Dialogue, Hegseth added the US is "more than capable," with stockpiles "both there and around the globe.""The Middle East has been subject to heightened uncertainty and disruption since end-February, due largely to the Iran war," Fitch Ratings said. "There have been no Middle East issuer downgrades since end-February, but Fitch has placed several ratings on Rating Watch Negative and revised some Outlooks to Negative from Stable, or to Stable from Positive. These actions point to the persistence of significant risks around the war that, if crystallised, could lead to broader rating downgrades."

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Equities15d ago

Arabian Pipes Signs SAR62 Million Steel Pipes Contract with Saudi Aramco

Arabian Pipes Co. (SASE:2200) entered into a 62 million-Saudi-riyal contract with Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.Under the agreement, the Saudi-listed steel tube manufacturer will produce and deliver steel pipes to the oil giant for a period of 10 months, according to a Sunday release.

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Equities25d ago

Arabian Pipes Wins SAR48 Million Steel Pipes Contract from Saudi Aramco

Arabian Pipes Co. (SASE:2200) secured a 48 million-Saudi-riyal contract from oil giant Saudi Arabian Oil Co. (SASE:2222), d/b/a Saudi Aramco.The eight-month deal covers the production and delivery of steel pipes, the steel tube manufacturer said Thursday.

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Asia Markets34d ago

Tadawul Shares Close Lower on Tuesday as US Inflation Rises in April

The Tadawul All Share Index is back in the red at 1.07% on Tuesday as investors tuned in to the world's biggest economy's latest inflation print for April and its possible effect on the US Federal Reserve's next policy moves.The US annual inflation rate rose to 3.8% in April, compared with 3.3% in the prior month. The core rate, meanwhile, also climbed to 2.8% from 2.6% in March."That core figure is ultimately what matters most for the Fed. Still, it is probably too early to expect clear evidence of second‑round effects, and we suspect that a hotter‑than‑expected headline print could be sufficient to give the recent hawkish repricing in the USD swap curve some additional momentum. There is currently 7bp of Fed tightening in the curve by year-end," ING said in a note.In other news, market watchers are also focusing on US President Donald Trump's visit to China from Thursday to Friday. The meeting, which will also be attended by a business delegation, will focus on trade deals, Reuters reported.Back at home, L'azurde Co. for Jewelry (SASE:4011), Almoosa Health (SASE:4018), and Obeikan Glass (SASE:4145) posted lower attributable net profit for the first quarter of 2026. However, all three stocks logged higher revenue for the three months ended March 31.L'azurde Co. for Jewelry, Almoosa Health, and Obeikan Glass closed 2.35%, 3.47%, and 8.93% lower, respectively.Meanwhile, on the corporate front, Arabian Pipes Co. (SASE:2200) ticked up 3.29% as it secured a 12-month deal to produce and deliver OCTG Casings pipes to Kuwait's KAC Trading.

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Asia Markets47d ago

Tadawul Shares Tick Up on Fed Day; Americana Restaurants International Ticks Up

The Tadawul All Share Index extended its rally, ending Wednesday 0.52% higher, ahead of the highly anticipated monetary policy for the US later in the day."Looking ahead to today, the main highlight will be the Federal Reserve's latest policy decision. They're widely expected to keep rates on hold, so the focus will be on their forward guidance for what they're thinking about future policy. Our US economists think the key question is whether they formally adopt two-sided language about the policy outlook in the statement, and whether Chair Powell indicates a more balanced risk assessment in the press conference. Their base case is that the Fed will wait until June for meaningful changes in guidance, but the risk is that communications skew hawkish," Deutsche Bank Research said in a note.Aside from the US Fed decision, which is only a few hours away from being announced. Market watchers are looking into the United Arab Emirates' decision to pull out of the Organisation of the Petroleum Exporting Countries and the wider OPEC+, in which Saudi Arabia is the de facto leader on Friday.Following a comprehensive review, the Middle Eastern nation's move was attributed to its national interest, as well as its need for flexibility in adapting to market trends.Back at home, Americana Restaurants International (SASE:6015), Modern Mills for Food Products (SASE:2284), and Arabian Pipes Co. (SASE:2200) released their financial statements for the three months ended March 31. The first two stocks reported higher net profit and revenue, while Arabian Pipes logged lower results for the first quarter.Americana Restaurants and Arabian Pipes closed 9.63% and 4.12% higher, respectively. Modern Mills, however, ticked down 0.89%.Meanwhile, Horizon Food Co. (SASE:9564) shares dropped 12.28% as it entered into a two-year, renewable contract to deliver food products to KSH3 Establishment.

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