Closing Bell: Saudi main index slips to close at 11,536 

Closing Bell: Saudi main index slips to close at 11,536 
The benchmark index recorded a total trading turnover of SR4.44 billion ($1.18 billion), with 66 stocks advancing and 191 declining. Shutterstock
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Updated 02 November 2025
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Closing Bell: Saudi main index slips to close at 11,536 

Closing Bell: Saudi main index slips to close at 11,536 

RIYADH: Saudi Arabia’s Tadawul All Share Index fell on Sunday, losing 119.56 points, or 1.03 percent, to close at 11,536.29. 

The benchmark index recorded a total trading turnover of SR4.44 billion ($1.18 billion), with 66 stocks advancing and 191 declining. 

The Kingdom’s parallel market Nomu also slipped 73.34 points, or 0.29 percent, to close at 24,943.63, as 26 stocks gained while 43 retreated. 

Meanwhile, the MSCI Tadawul Index dropped 18.74 points, or 1.24 percent, to finish at 1,489.32. 

Advanced Building Industries Co. was the day’s top performer, with its share price jumping 9.99 percent to SR39.18. Other notable gainers included Allied Cooperative Insurance Group, which rose 6 percent to SR11.83, and United Carton Industries Co., which advanced 5.14 percent to SR31.52. 

On the other hand, Naseej International Trading Co. posted the steepest loss, dropping 7.56 percent to SR54.40. Americana Restaurants International PLC declined 6.76 percent to SR2.07, while Saudi Co. for Hardware fell 6.02 percent to SR31.20. 

In corporate announcements, Nayifat Finance Co. reported a net profit of SR59.4 million for the first nine months of 2025, down 37 percent year on year, according to a Tadawul filing. The company attributed the decline to lower operating revenues and higher credit impairment charges aimed at improving its coverage ratio.  

Nayifat’s shares closed 1.13 percent lower at SR13.19. 

Arabian Drilling Co. said its net profit for the first nine months of 2025 dropped 70.8 percent to SR73.3 million, mainly due to a shift in its activity mix, with reduced offshore contributions partly offset by improvements in the land segment.  

The company’s shares rose 2.99 percent to SR88.55. 

Meanwhile, National Medical Care Co. posted a net profit of SR247.5 million for the first nine months of the year, up 17.3 percent from a year earlier. The increase was attributed to higher revenue and cost-optimization measures that improved margins at the gross, operating, and EBITDA levels.  

The stock ended 0.45 percent higher at SR177.80. 


Saudi Arabia, Canada explore ways to enhance cooperation in technology, innovation 

Saudi Arabia, Canada explore ways to enhance cooperation in technology, innovation 
Updated 04 November 2025
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Saudi Arabia, Canada explore ways to enhance cooperation in technology, innovation 

Saudi Arabia, Canada explore ways to enhance cooperation in technology, innovation 

RIYADH: Saudi Arabia’s technology and innovation partnership with Canada is set to receive a boost after senior ministers met to explore new avenues of cooperation and strengthen trade ties. 

Saudi Minister of Investment Khalid Al-Falih said in a post on X that he met with Canada’s Minister of Artificial Intelligence and Digital Innovation Evan Solomon to discuss ways to strengthen relations between the countries and to build partnerships that contribute to mutual economic growth, particularly in priority investment sectors. 

This comes as trade between the two nations continues to expand. In February, Saudi Arabia exported SR641 million ($170 million) to Canada, marking an 86.6 percent increase from SR344 million in February 2024, according to data from the Observatory of Economic Complexity.

It also follows an agreement in January 2024 for both countries to re-exchange trade delegations to enhance economic relations and boost trade and investment flows. 

In a subsequent post on X, Al-Falih stated: “The dialogue took place between me and Anita Anand, the Canadian Minister of Foreign Affairs, in the presence of the Saudi ambassador to Canada, Amal Yahya Al-Moallimi.” 

He added: “We discussed supporting and strengthening relations between our two countries, and facilitating investment exchange, in order to achieve more fruitful cooperation in the most important sectors, which will bring success to both peoples.” 

Artificial intelligence has become a central pillar of Saudi Arabia’s post-oil economic strategy, with the Kingdom leveraging advanced technologies to drive data-led industries and automation. 

Now at the halfway point of Vision 2030, the country is accelerating efforts to position itself as a global technology leader, balancing innovation with sustainability goals. 
Key initiatives — including the Project Transcendence program, valued at around $100 billion — aim to further establish Saudi Arabia as a global hub for AI innovation. 

Over the past five years, Saudi Arabia has made significant progress toward establishing itself as a regional artificial-intelligence hub. PwC projects that AI could contribute about $235 billion — or 12.4 percent — to the Kingdom’s gross domestic product by 2030.