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Saudi shares close lower despite oil price rise

Saudi shares closed lower on Saturday on petrochemical losses despite rising oil prices.

Brent crude futures closed at $123.43 a barrel on Thursday before holidays began in major markets.

The all-share closed 0.4 percent lower at 7862.5 points and the petrochemical index closed 1.2 percent down at 7353.03 points.

Petrochemical giant Saudi Basic Industries Corp (SABIC) slipped 0.9 percent.

Meanwhile, the banking index added 0.5 percent to 17,890.4 points. Bank Albilad ended 9.9 percent higher and Alinma Bank added 3.2 percent.

Almarai shares closed down 4.5 percent after it said its first quarter net profit rose by 2.9 percent compared with the same period last year.

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35
Saudi Arabia to rehire Indian maids on lower wages

The problem with many South Asians in general and Indians in particular is that greed has no limit for them. No matter how much they get, which is often... more
Wednesday, 19 June 2013 10:59 AM - Fahd
11
Gulf airlines told not to carry US whistleblower

In those so called democratic (they should change it to Hypocratic) there is freedom of speech but no freedom after the speech.
When the guys speaking... more
Wednesday, 19 June 2013 12:00 PM - Last of the mohicans
4
New Dreamliner too small for us, says Emirates

If Boeing can develop a 777 that can fly for 20 hours, then why bother flying through Dubai? Most EK traffic is transfer passengers. 20 hours nonstop would... more
Wednesday, 19 June 2013 5:04 PM - John Harte

35
Saudi Arabia to rehire Indian maids on lower wages

The problem with many South Asians in general and Indians in particular is that greed has no limit for them. No matter how much they get, which is often... more
Wednesday, 19 June 2013 10:59 AM - Fahd
27
Female UAE expats face new visa curbs

@anguilla: Kalba town is part of the Sharjah Emirate.
along with khor fakkan and dibba al hisn.
http://en.wikipedia.org/wiki/Sharjah_%28emirate... more
Friday, 14 June 2013 6:23 PM - omar faris
14
Saudi's Grand Mufti vents against horse statues

I am wondering why this article is being published here? it is really useless. anyway, I in certain ways agree with the Mufti. god bless Saudi Arabia more
Tuesday, 18 June 2013 9:27 AM - Faisal

37
Rights group urges UAE not to deport strikers

Organizations like HRW, Green peace, ILO, UNHCR are so self serving that it is amazing they still exist! they spend 60/70 percent of their budgets (meant... more
Thursday, 30 May 2013 7:53 PM - Navin
35
Saudi Arabia to rehire Indian maids on lower wages

The problem with many South Asians in general and Indians in particular is that greed has no limit for them. No matter how much they get, which is often... more
Wednesday, 19 June 2013 10:59 AM - Fahd
29
Saudi Princess says men are too afraid to allow women's rights

Countinua, women from NIGERIA will put you in their prayers more
Monday, 17 June 2013 5:40 PM - BINTU B M SULE