RIYADH: Saudi Arabia’s Tadawul All Share Index closed at 11,867.37 points, down by 32.93 points or 0.28 percent on Monday.

The parallel market, Nomu, also saw a decline, falling by 36.02 points or 0.14 percent to end the day at 25,733.93. The MSCI Tadawul 30 Index decreased by 1.94 points or 0.13 percent, closing at 1,476.66.

The main index, TASI, recorded a trading volume of SR5.4 billion ($1.44 billion), with 65 stocks advancing and 160 declining. Nomu, in contrast, reported a trading volume of SR32.7 million.

Year-to-date, TASI has dropped 100.02 points or 0.84 percent, while Nomu has gained 1,204.95 points or 4.91 percent. This time last year, TASI was around 11,104 points, and Nomu stood at 22,791.81 points.

Among the top performers on TASI, Al-Baha Investment and Development Co. saw its share price rise by 5.88 percent to SR0.18. Riyadh Cement Co. followed with a 4.48 percent increase, closing at SR26.80.

Rasan Information Technology Co. also made gains, climbing 4.32 percent to SR60.4. Saudi Paper Manufacturing Co. and SEDCO Capital REIT Fund increased by 4 percent and 3.74 percent, respectively, closing at SR67.60 and SR8.05.

Conversely, Saudi Fisheries Co. experienced the largest decline, falling 5.33 percent to SR24. Saudi Arabian Cooperative Insurance Co. and Mediterranean and Gulf Insurance and Reinsurance Co. also faced losses, with shares decreasing to SR17.80 and SR24.80, reflecting declines of 4.61 percent and 4.06 percent, respectively. Al-Babtain Power and Telecommunication Co. and Saudi Reinsurance Co. also reported losses.

On Nomu, Al-Modawat Specialized Medical Co. was the top performer, with its share price surging 11.15 percent to SR14.56. Meyar Co. and Meyar Co. also saw significant gains, closing at SR68 and SR34.80, representing increases of 8.11 percent and 7.41 percent, respectively. Banan Real Estate Co. and Saudi Lime Industries Co. also performed well.

On the downside, Saudi Azm for Communication and Information Technology Co. was the worst performer in Nomu, declining by 4.62 percent to SR21.90. Other underperformers included Qomel Co. for Education and Mohammed Hadi Al Rasheed and Partners Co., with share prices falling by 4.3 percent and 4.28 percent to SR129.20 and SR76, respectively.

Naas Petrol Factory Co. and Al Rashid Industrial Co. also experienced declines, ending the day at SR67.20 and SR34, respectively.

RIYADH: Saudi Arabia’s nuclear program is making strides as the Kingdom works toward diversifying its energy sources and supporting sustainable growth, said a senior minister.

According to Saudi Energy Minister Prince Abdulaziz bin Salman, the country is advancing its nuclear development, with a focus on adhering to International Atomic Energy Agency safeguards agreements.

“We are currently working with the agency to finalize all necessary subsidiary agreements for the Small Quantities Protocol to be effectively rescinded by the end of December of this year,” the minister said.

At the 68th General Conference of the IAEA in Vienna, Prince Abdulaziz highlighted the importance of the nuclear project in the context of Saudi Arabia’s broader energy transition.

The minister added that in July, Saudi Arabia submitted a request to terminate the small quantities protocol and transition to full implementation of the safeguards agreement. 

Under this agreement, the IAEA can verify that a state is fulfilling its international commitments and not using nuclear programs for weapons development. 

Prince Abdulaziz reiterated during his address that Saudi Arabia remains committed to meeting its international obligations and will utilize nuclear energy exclusively for peaceful purposes. 

The first atomic power plant, slated for construction at Khor Duwaiheen on the Arabian Gulf between Qatar and the UAE, is expected to produce 2.8 gigawatts of power.

This development aligns with Saudi Arabia’s strategic goals to reduce reliance on fossil fuels and enhance energy sustainability.

Launched in 2017, Saudi Arabia’s National Atomic Energy Project is a cornerstone of the Kingdom’s strategy to diversify its energy sources and reduce its dependence on fossil fuels.

The project aims to integrate nuclear power into the national energy mix, enhancing sustainability and fulfilling international commitments.

“Saudi Arabia continues to implement its national nuclear energy program with all its importance including the construction of the first nuclear power plant to contribute to the national energy mix, achieve sustainable national development, and fulfill international commitments,” said the energy minister. 

He also noted that Saudi Arabia has made substantial progress in its nuclear ambitions, having completed all essential administrative preparations for the nuclear regulatory framework and met the requirements for a comprehensive safeguards agreement. This progress reflects the Kingdom’s commitment to advancing its nuclear program while ensuring regulatory compliance and international cooperation.

He added that Saudi Arabia consistently prioritizes transparency in the development of its nuclear projects, emphasizing the Kingdom’s aim to serve as a role model for other nations. 

“In the Kingdom, we have nothing to hide. This is the driving force behind the Kingdom. We want to be a role model for other countries,” said Prince Abdulaziz.  

The Saudi minister also expressed his satisfaction with the IAEA’s efforts in upholding security within the nuclear sector. 

“We are pleased to see the fruits of the initiative to establish the IAEA’s International Nuclear Security Training Center in Seibersdorf and its tangible impact on strengthening the national capabilities of member states and the global nuclear security system,” added the minister. 

During his speech, Prince Abdulaziz also extended his congratulations to South Korea’s permanent representative, Sang Wook Ham, on being elected president of the IAEA’s 68th General Conference.