Brent Price Surges over $71 a barrel

New York, Oil prices jumped to its highest level, in two years, following OPEC decision to gradually raise the production.

While Brent blend, the benchmark, rose over $71 a barrel, an increase of 2.64 per cent, the West Texas Intermediate rose to $68.6 a barrel, gaining about 3.5 per cent.

Source: Saudi Press Agency

Muscat Stock Exchange Gains 16 Points

Muscat, Muscat Stock Exchange (MSX) general index (30) today gained (16.3) points, comprising an increase by (0.42%) to close at (???3852.61?) points, compared to the last session, which stood at (?????3836.36?) points, Oman News Agency (ONA) reported.

The trading value today stood at (RO 3,138,584) comprising a rise by (73.1%), compared to the last session, which stood at (RO 1,812,677).

The report released by MSX pointed out that the market value increased by (0.057%) to reach about (RO 21.15) billion.????????

Source: Saudi Press Agency

Beirut Stock Exchange Trading, up at Closing

Beirut, Beirut Stock Exchange index ended trading higher here today, rising up 0.58 per cent to close at the level of 900.11 points.

The quantity of the shares traded was 49,106 worth $847.098, carried out through as many as 43 deals.

Market capitalization value of the listed companies surged to $9.177 million against $9.125 million, in the previous trading session.

Source: Saudi Press Agency

Saudi Stock Exchange Main Index Ends Trading Higher at 10,551.23 Points

Riyadh, Saudi Stock Exchange’s main index ended trading higher here today, gaining 3.56 points to close at 10,551.23.

The total value of the trading reported was SR 13.4 billion, while the toll of shares traded was more than 460 million, divided into over 515,000 deals.

While the stocks of 77 companies ended the trading higher, 102 companies’ shares slumped.

The spread between the advancers and decliners stocks ranged from 9.98% to 3.69%.

The Saudi Parallel Equity Market Index (NOMU) ended the day losing 343.73 points, to close at 23,519.93, with a valuation of more than SR 45 million and an overall tally of 590,000 stocks traded and divided into as many as 1,355 deals.

Source: Saudi Press Agency

Indices of Egypt Stock Exchange, collectively Rise

Cairo, Indices of the Egyptian stock exchange posted a collective rise, at closing of today’s trading.

The market capitalization of the listed companies’ shares stood at 655.8 billion Egyptian pounds.

Meanwhile, the total sum of trading rose to 2.3 billion Egyptian pounds.

Source: Saudi Press Agency

Saudi Fund for Development Signs with National Bank of Iraq Agreement Worth USD 10 Million

Riyadh, The Saudi Fund for Development (SFD) has announced the signing of a finance agreement with the National Bank of Iraq (NBI), affiliated with the Capital Bank Jordan, to provide credit facilities worth USD 10 million for Iraqi investors willing to import products and services form Saudi companies, in a way that contributes to enhancing trade relations between the two countries.

The agreement was signed in Amman, Jordan, by Saudi Fund for Development (SFD) CEO Sultan bin Abdulrahman Al-Marshad and Capital Bank Chairman of the Board of Directors Bassem Khalil Al-Salem in the presence of senior officials from both sides.

Under the agreement, SFD will grant NBI a revolving line of finance worth USD10 million to import various commodities and services with a Saudi origin to clients of the bank from importing companies with a finance percentage of 100 percent of their value and with a repayment period of up to 36 months depending on the type of imports and nature of the process.

Al-Marshad said, “This agreement highlights the brotherly ties between the Kingdom of Saudi Arabia and Iraq, and reflects the two countries’ willingness to enhance cooperation in all fields,” noting that, “this deal is part of what the government of the Kingdom of Saudi Arabia has allocated to support reconstruction and development projects in Iraq with more than USD1.5 billion”.

He also stressed that supporting stability in countries seeking to realize sustainable economic and social development is a top priority for SFD, adding that the fund, through this agreement, seeks to enhance efforts that aim at achieving the principle of joint prosperity between the two sides, especially that the agreement accords with the Kingdom of Saudi Arabia’s efforts to diversify its sources of national revenues and increase the volume of non-oil exports of commodities and services of Saudi origin, where this deal is envisioned to open new markets for Saudi producers and contribute to stimulating the Iraqi commercial and financial sectors.

For his part, Al-Salem expressed appreciation for the SFD’s efforts through supporting and financing development projects in Iraq and stimulating trade ties between the two brotherly countries, noting that “the role of the fund reflects the Kingdom of Saudi Arabia’s historical endeavors and continuous support for the joint Arab action process and its contribution to realizing the Arab economic integration”.

Al-Salem also stressed that this agreement will contribute to increasing the trade exchange between Iraq and the Kingdom of Saudi Arabia through enabling NBI to offer credit facilities for importers to import Saudi products and services known for their high quality with competitive prices for the Iraqi market, noting that the agreement will also play a role in activating the transport operations between the two countries and its effective contribution to stimulating the financial and commercial sectors.

Source: Saudi Press Agency

Saudi Stock Exchange Main Index Ends Trading Higher at 10,547.67 Points

Riyadh, Saudi Stock Exchange’s main index ended trading higher here today, gaining 28.15 points to close at 10,547.67.

The total value of the trading reported was SR 12 billion, while the toll of shares traded was more than 400 million, divided into over 400,000 deals.

While the stocks of 123 companies ended the trading higher, 64 companies’ shares slumped.

The spread between the advancers and decliners stocks ranged from 9.97% to 5.2%.

The Saudi Parallel Equity Market Index (NOMU) ended the day higher, gaining 210.10 points, to close at 23,863.69, with a valuation of SR 26 million and an overall tally of more than 400,000 stocks traded and divided into as many as 944 deals.

Source: Saudi Press Agency

Raidah Investment Company Joins ISLA

Riyadh, Raidah Investment Company (RIC), the investment arm of the Public Pension Agency, announced that it has recently joined the International Securities Lending Association (ISLA), as the first Saudi asset management institution to join the association, and the second Saudi establishment after the Securities Depository Center (Edaa).

The CEO of RIC, Ali Al-Mansour, explained that the company joining to ISLA is a result of its efforts to implement global standards related to investment products and related administrative processes, in addition to creating a sustainable investment environment aimed at enabling knowledge growth and continuous cooperation with local and international institutions in achieving the desired goals for the development of the investment sector in Saudi Arabia.

Al-Mansour also added that RIC follows a clear approach to deal with financial service providers, according to which service providers are subject to strict standards in the Due Diligence stage, which include reviewing the technology and governance infrastructure of these financial institutions.

It is noteworthy that ISLA is an international association established in 1989 and includes the largest and oldest investment and financial organizations to represent the common interests of participants in securities lending and works closely with regulators around the world. Its activities include markets and prudential regulatory systems in addition to protecting investors.

Source: Saudi Press Agency

Egyptian Stock Exchange Loses 18.9 bln Pounds, in Week-long Trading

The Egyptian stock exchange lost as much as 18.9 billion Egyptian pounds, during the trading of the previous week, pushing down the market capitalization of the listed companies to about 655.5 billion Egyptian pounds.

Performance of all indices, the main as well as the secondary, collectively declined in the stock exchanged, as the main index Egy X 30 lost 4.56 percent to close at the level of 10,242 points, while the index of the small and medium sizes (companies) shares Egy X 70 lost 0.16 percent, posting 2,225 points, while the broader index Egy X 100 ended the trading at the level of 3,150 points, losing 0.97 percent.

The stock exchange weekly roundup report pointed to the rise of the trading values to stand at 18 billion pounds, through trading as many as 3.5 billion securities, carried out in 287,000 transactions.

Source: Saudi Press Agency