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Saudi Arabia’s Tadawul All Share Index (TASI) ended the second week of March with a slight decline for the third consecutive week, closing down 0.73% at 11,725.88 points, compared to the previous week’s close of 11,811.11 points. In an analysis of the market performance during the week ending March 13, Dr. Suleiman Al-Humaid Al-Khalidi, a financial market analyst, told Asharq Al-Awsat that the market experienced a sharp decline not seen in years, coinciding with a drop in global markets, particularly in the US, where $2 trillion in value was wiped out in a single day. This accounted for roughly 60%…

Amr Alfiky/Reuters The aftermath of flooding in Dubai. UAE insurance companies are believed to have paid out about $3 billion Payouts increased after floods Ominvest profit down 7% Losses at Liva Group insurers Losses at an insurance subsidiary caused by the deadly floods that struck Oman and the UAE last year hit profits at Oman International Development and Investment Company (Ominvest), a large listed holding company. Ominvest reported net profit of $96 million in 2024, down 7 percent year on year from $104 million in 2023. The company’s share price closed at OMR0.330 on Thursday, down from a peak of…

Reuters/Gleb Garanich A ferry from the Turkish resort town of Bodrum arrives in Kos, Greece. Greece is one of the most popular destinations for Turkish travellers Overseas transactions up 10% Turks travelling in record numbers Inflation and taxes hurt at home Turks are increasingly using credit cards to buy goods and services abroad, as inflation and taxes eat away at their buying power at home.  Turkish people used their credit cards more than 380 million times for overseas purchases last year, spending $11.5 billion, according to a new report by the central bank’s Bankalarası Kart Merkezi (Interbank Card Centre –…

A full-scale global trade war would hurt the United States in particular and could re-energize Europe’s push towards unity, European Central Bank President Christine Lagarde said on Friday. The US has imposed a raft of tariffs on friends and foes alike and threatened even more measures, prompting retaliation from most and raising concern that global growth could take a major hit. “If we were to go to a real trade war, where trade would be dampened significantly, that would have severe consequences,” Lagarde told BBC’s HARDTalk program. “It would have severe consequences for growth around the world and for prices…

Saudi Arabia delivered financial support to UNRWA, aiding its education and health programs for Palestinian refugees in the West Bank and Gaza.Amman, March 14, 2025 – Mohammed bin Hassan Moanes, the Charge d’Affaires at the Saudi Embassy in Jordan, delivered crucial financial support to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) on behalf of the Kingdom of Saudi Arabia. This contribution is set to help UNRWA fulfill its financial obligations and ensure the continuation of its vital programs aimed at supporting Palestinian refugees across the region.The financial aid, which underscores Saudi Arabia’s…

KSrelief’s Eng. Ahmed Al-Baiz met with Chadian Ambassador Hassan Aldjinedi in Riyadh to discuss enhancing humanitarian cooperation in Chad.Riyadh, March 14, 2025 – Eng. Ahmed bin Ali Al-Baiz, the Assistant Supervisor General for Operations and Programs at the King Salman Humanitarian Aid and Relief Center (KSrelief), held an important meeting on Wednesday in Riyadh with the Ambassador of the Republic of Chad to the Kingdom of Saudi Arabia, Hassan Saleh Aldjinedi. The discussion focused on enhancing the ongoing humanitarian and relief efforts in Chad, as well as exploring ways to strengthen bilateral cooperation in the field of humanitarian assistance.During the…

Wam EGA, one of the world’s largest aluminium producers, said on Wednesday volatility in aluminium prices is expected to continue in 2025 The UAE’s exports of aluminium to the US jumped in the first 11 days of March, data from the US Department of Commerce showed, as buyers stocked up on shipments from their second-biggest supplier before the US tariffs took effect on Wednesday. So far in March, the UAE exported 68,560.29 metric tonnes of aluminium to the US before the tariffs kicked in, compared to 16,124.88 metric tonnes in all of March 2024. The exports in March are already at…

The Saudi Stock Exchange’s main index rose by 20.95 points, closing at 11,725.88, while the NOMU index dropped by 37.56 points.Riyadh, March 14, 2025 – The Saudi Stock Exchange (Tadawul) saw a positive performance today, with the main index gaining 20.95 points to close at 11,725.88 points. This gain was supported by strong market activity, as the total trading value reached SAR 6.2 billion. The trading volume for the day stood at 270 million shares, reflecting a robust level of market participation.A total of 141 companies posted gains, signaling positive sentiment across a majority of sectors. However, 94 companies closed…

Oil prices rebounded on Friday to recover some of their more than 1% losses in the previous session, partly due to diminishing prospects of a quick end to the Ukraine war that could bring back more Russian energy supplies. Brent crude futures rose 46 cents, or 0.7%, to $70.34 a barrel by 0406 GMT after settling 1.5% lower in the previous session. US West Texas Intermediate crude was at $67.03 a barrel, up 48 cents, or 0.7%, after closing down 1.7% on Thursday. Russian President Vladimir Putin said on Thursday that Moscow supported a US proposal for a ceasefire in…

KSrelief distributed 220 food baskets in Nouakchott, Mauritania, benefiting 1,320 individuals as part of its “Etaam” Ramadan initiative.Nouakchott, March 14, 2025 – The King Salman Humanitarian Aid and Relief Center (KSrelief) has successfully distributed 220 food baskets to families in need in the Teyarett District of Mauritania’s capital, Nouakchott. The initiative, which took place yesterday, benefitted approximately 1,320 individuals, providing them with essential food items during the holy month of Ramadan.This distribution is part of the larger “Etaam” Ramadan Food Basket Project, an annual initiative by KSrelief aimed at supporting vulnerable communities and ensuring food security in several countries during…