SASE:4326

3 stories mentioning SASE:4326Updated 10h ago

Every FINWIRES story that references SASE:4326, newest first.

What's the latest news on SASE:4326?

Tadawul Share Plunge as Saudi Arabia Shuts Down East-West Oil Pipeline

The Tadawul All Share Index plunged 1.30% in the red on Sunday as the widening Middle Eastern conflict raised concerns regarding oil supply.Saudi Arabia closed its East-West oil pipeline as a precautionary measure after an Iraq-originated drone attack. The move resulted in injuries and damage, Reuters reported."The Ministry of Foreign Affairs expresses the Kingdom of Saudi Arabia's strongest condemnation of targetting the East-West Pipeline in the Riyadh and Madinah regions by several drones launched from Iraq, which resulted in injuries and some damage that is currently being recovered," the kingdom's Ministry of Foreign Affairs said. "The Kingdom of Saudi Arabia affirms that it reserves its right to take all necessary measures to safeguard its sovereignty and security, protect its facilities, and ensure the safety of its citizens and residents."In other news, another vessel was attacked in the Strait of Hormuz as Iran and other Gulf countries are set to meet in Oman for the waterway's future operations and routes.On the corporate front, Dar Al Majdiah Real Estate (SASE:4326) shares closed 0.16% higher as it entered into an agreement with Jadwa Al Maqar Real Estate Fund to serve as a developer for the Mishraf Al Majdiah in Madinah.Meanwhile, insurers Allied Cooperative Insurance Group (SASE:8150) and Salama Cooperative Insurance (SASE:8050) received the Insurance Authority's clearance to sell their tourist and domestic workers' contract insurance products in Saudi Arabia.Allied Cooperative and Salama Cooperative closed 4.96% and 3.18% in the red, respectively.

^TASISASE:4326SASE:8150

Asia Markets41d ago

Tadawul Shares Extend Winning Streak; OPEC+ Hikes Crude Production Targets for September

The Tadawul All Share Index extended its gains as it closed Monday 1.10% in the green, supported by a flurry of new earnings updates, as well as OPEC+'s latest move on crude production levels.Seven members of OPEC+, which includes the Organization of the Petroleum Exporting Countries and allies such as Russia, confirmed that it will increase crude production levels for September by 188,000 barrels per day. Saudi Arabia, the de facto leader of the group, will produce 10.5 million barrels per day for the month."The seven OPEC+ countries also noted that this measure will provide an opportunity for the participating countries to accelerate their compensation. The seven countries reiterated their collective commitment to achieve full conformity with the Declaration of Cooperation, including the additional voluntary production adjustments that will be monitored by the Joint Ministerial Monitoring Committee (JMMC). They also confirmed their intention to fully compensate for any overproduced volume since January 2024," OPEC+ said.In other news, US President Donald Trump said that the country will hold negotiations with Iran regarding their conflict. The Middle Eastern nation, however, refuted Trump's claims, stating that no meetings were set, media reports said.Back at home, Saudi Cable Co. (SASE:2110), Umm Al Qura for Development and Construction (SASE:4325), and Dar Al Majed Real Estate (SASE:4326) posted lower financial results for the first half. On the other hand, Saudi Reinsurance Co. (SASE:8200) closed 5.72% in the green as it logged jumps in net profit and insurance revenue.Shares of Saudi Cable, Umm Al Qura, and Dar Al Majed closed 0.76%, 2.62%, and 3.13% higher, respectively.Meanwhile, Saudi Automotive Services Co. (SASE:4050), or Sasco, shares were 2.29% higher as its Naft Services unit agreed to sell a land plot to Bayat Real Estate for 44.5 million Saudi riyals.

^TASISASE:2110SASE:4050SASE:4325SASE:4326SASE:8200

Asia Markets80d ago

Tadawul Shares End Week Lower; Saudi Arabia's April Trade Surplus Declines

The Tadawul Share Index closed out the week 0.67% lower as Iraq's potential exit from OPEC dampened investor sentiment on Thursday.Iraq is reportedly considering leaving the Organization of the Petroleum Exporting Countries, Reuters reported, citing sources with knowledge of the matter. The sources said that the Middle Eastern country might leave the group if it is not allowed to boost its crude production.According to data from the General Authority for Statistics, the kingdom's merchandise trade surplus decreased to 25.43 billion Saudi riyals in April, compared with the prior month's revised 56.93 billion riyals.Meanwhile, merchandise exports climbed 9.3% year over year in the reporting month, while imports declined 5.2% annually. The report also said that China was Saudi Arabia's main merchandise trading partner."Non-oil exports, including re-exports, recorded an increase of 4.5% compared to April 2025, while national non-oil exports, excluding re-exports, decreased by 7.3%. Moreover, the value of re-exported goods increased by 20.4% during the same period, driven by a 74.0% increase in 'machinery, electrical equipment and parts,' which represented 53.5% of total re-exports," the report said.Back at home, First Avenue for Real Estate Development's (SASE:9610) consortium with Dar Al Majed Real Estate Co. (SASE:4326) and Rekaz Real Estate signed a 180-day framework deal to develop an informal settlement area in Makkah.Shares of First Avenue and Dar Al Majed closed 3.50% and 1.09% in the red, respectively.

^TASISASE:4326SASE:9610

Track with the FINWIRES app suite

FolioX

Track SASE:4326 in your portfolio

WheelAI

Analyze SASE:4326 options with the wheel strategy

StockInsider

See market sentiment on SASE:4326