Tadawul Shares End Sunday Lower; Saudi Arabia to Reportedly Head to Turkey for Defense Pact Talks
The Tadawul All Share Index started the week at 0.71% in the red on Sunday ahead of Saudi Arabia's reported defense meeting with Turkey and Pakistan on Monday.Sources said that officials from Saudi Arabia, Turkey, and Pakistan are set to meet in Istanbul to discuss their Mecca Joint Defence Agreement that was entered into in August. The talks will focus on international security issues, as well as boosting the countries' defense capabilities, among other topics.Also making headlines during the session is US President Donald Trump's announcement regarding an agreement with a private business that will give the US majority control of Venezuela's proven oil reserves.Back at home, Naas Petrol Factory (SASE:9609) and Al Kuzama Trading (SASE:9636) released their financial statements for the first half of 2026. Naas logged lower results for the six-month period, while Al Kuzama reported a decline in attributable net profit and a rise in revenue."Revenue increased by 5.21% to SAR 158 million, compared to SAR 150 million in the corresponding period of the previous year, driven by growth in the restaurant operations of the existing subsidiaries," Al Kuzama said in its report. "The [net profit] decrease was mainly attributable to a decline in the gross profit margin from 20.7% to 14.2%, due to regional and global geopolitical conditions and their direct impact on food product costs, in addition to higher general and administrative, selling, and marketing expenses."Naas Petrol closed 1.64% higher, while Al Kuzama shares fell 7.62% at closing.Meanwhile, Knowledge Tower Trading (SASE:9551) shares ticked down 3.66% as it entered into a three-year deal to deliver educational curricula and textbooks to Maarif Education Co.
