RIYADH: Saudi Arabia’s Tadawul All Share Index increased on Monday, gaining 28.42 points, or 0.24 percent, to close at 11,784.63.    

The total trading turnover of the benchmark index was SR6.4 billion ($1.7 billion), as 86 of the stocks advanced and 154 retreated.  

The MSCI Tadawul Index rose 1.09 points, or 0.07 percent, to close at 1,498.77.

The Kingdom’s parallel market, Nomu, dropped 149.32 points, or 0.52 percent, to close at 28,420.71. This comes as 33 stocks advanced while 46 retreated.   

TASI’s top performer was Umm Al Qura for Development and Construction Co., which surged by 9.84 percent to reach SR25.90.   

Other top performers included Al-Babtain Power and Telecommunication Co., whose share price rose 6.73 percent to SR47.55, as well as Saudi Reinsurance Co., whose share price surged 6.14 percent to SR51.   

Riyadh Cables Group Co. was also among the top performers, increasing 5 percent to SR130.20. 

Despite reporting financial gains, Nice One Beauty Digital Marketing Co. was the worst performer, with its stock price falling 3.85 percent to SR37.50.   

Allied Cooperative Insurance Group also saw its stock price decline 3.85 percent to SR14.48. Arabian Internet and Communications Services Co. also dropped to SR290, a 3.33 percent decrease.  

On the announcements front, Nice One Beauty Digital Marketing Co. reported a notable rise in its interim financial results for the three-month period ending March 31. 

The company posted a 29.96 percent increase in sales year on year, reaching SR324.97 million, compared to SR250.05 million in the same quarter of the previous year. 

This growth was attributed to stronger order volumes, new customer acquisitions driven by efficient marketing campaigns, a broader product range, and improved fulfillment efficiency, with a positive contribution from the seasonal impact of Ramadan. 

Net profit rose 10.2 percent to SR24.12 million from SR21.91 million the previous year, supported by higher revenue and reduced selling and marketing expenses, although partially offset by increased operating expenses and zakat charges.  

Separately, Banque Saudi Fransi announced its intention to issue US dollar-denominated additional tier 1 capital notes under its Additional Tier 1 Capital Note Program. 

This move follows a resolution by the bank’s board of directors on Aug. 19, authorizing executive management to proceed with the issuance. 

The offering, expected to be made available to eligible investors in Saudi Arabia and internationally, will have its amount and terms determined based on market conditions. 

The issuance aims to enhance BSF’s tier 1 capital and support general banking activities. The bank has appointed Abu Dhabi Commercial Bank PJSC, Citigroup Global Markets, and Credit Agricole Corporate and Investment Bank, as well as Emirates NBD Bank PJSC, HSBC Bank plc, Mashreqbank PSC, Merrill Lynch Kingdom of Saudi Arabia, Mizuho International plc, MUFG Securities EMEA plc, and Saudi Fransi Capital as joint lead managers. 

BSF noted that the offer will be subject to regulatory approvals and emphasized that the announcement does not constitute an invitation to purchase or subscribe to securities. 

RIYADH: Saudi Arabia’s General Ports Authority, known as Mawani, has signed a new agreement to develop a SR300 million ($79 million) logistics zone at King Abdulaziz Port in Dammam, further strengthening the Kingdom’s ambition to become a global logistics hub.

The project, launched in partnership with Alissa International Motors — a subsidiary of Abdullatif Alissa Holding Group — will cover 382,000 sq. m. The new facility will serve as a central hub for the import and re-export of vehicles and spare parts, the authority said in a statement.

This initiative aligns with the goals of Saudi Arabia’s National Strategy for Transport and Logistics, which seeks to enhance supply chain efficiency and attract foreign and domestic investment. The Dammam logistics zone is part of a broader SR10 billion investment plan to establish 20 integrated logistics hubs across the Kingdom under the authority’s supervision.

The new facility will feature a 7,000-sq.-m warehouse dedicated to spare parts storage and is designed to accommodate more than 13,000 vehicles.

“This development will strengthen the port’s competitive edge and reinforce its position as a regional logistics center by delivering high-quality logistics services,” Mawani stated.

The authority emphasized that the project would contribute to economic diversification and bolster private sector participation in the Kingdom’s growth.

Already a vital link connecting Saudi Arabia to international markets, King Abdulaziz Port offers state-of-the-art infrastructure and logistics capabilities, making it an attractive destination for global trade companies.

In a separate development, Mawani signed another contract with Sultan Logistics to establish an additional logistics zone at King Abdulaziz Port, valued at SR200 million. Covering 197,000 sq. m, the facility will include 35,000 sq. m of warehouse space, administrative offices, storage yards for dry and refrigerated containers, and a dedicated re-export area.

“These facilities will elevate the quality of logistics services offered at the port and support trade with enhanced operational efficiency,” Mawani added.

The establishment of the new zones is expected to significantly boost King Abdulaziz Port’s operational capacity and competitiveness.

In 2024, Saudi Arabia launched, developed, and inaugurated eight logistics zones and centers, backed by approximately SR2.9 billion in private sector investments. These efforts form part of the Kingdom’s wider strategy to solidify its standing as a leading global logistics powerhouse.