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RIYADH: ����ֱ��’s Tadawul All Share Index closed lower on Monday, shedding 96.92 points, or 0.91 percent, to end at 10,497.05. 

Trading volume reached 260.53 million shares, with turnover of SR4.10 billion ($1.09 billion). A total of 55 stocks advanced while 198 declined. 

The Kingdom’s parallel market, Nomu, also retreated, dropping 179.38 points, or 0.70 percent, to close at 25,345.91, with 32 gainers against 57 losers.  

The MSCI Tadawul Index slipped 12.61 points, or 0.92 percent, to 1,362.97. 

Top gainers included Lazurde Co. for Jewelry, which jumped 6.11 percent to SR13.02, and Almasane Alkobra Mining Co., up 3.70 percent at SR65.95.  

Ataa Educational Co. climbed 3.46 percent to SR64.30, Wafrah for Industry and Development Co. added 3.04 percent to SR25.76, and Aldrees Petroleum and Transport Services Co. advanced 2.91 percent to SR116.70.   

On the downside, Thimar Development Holding Co. dropped 9.97 percent to SR45.06, while Saudi Real Estate Co. fell 6.20 percent to SR16.49. Saudi Cable Co. lost 5.50 percent to SR141, Saudi Fisheries Co., also known as Al Asmak, slipped 4.40 percent to SR92.40, and Ash-Sharqiyah Development Co. declined 4.28 percent to SR16.10. 

On the announcement front, Al Moammar Information Systems Co., also known as MIS, said it signed a SR227.8 million contract, including VAT, with the Saudi Authority for Data and Artificial Intelligence for the “Naqaa” Data Center Expansion project in Riyadh.  

The 36-month deal is expected to have a positive financial impact starting in the fourth quarter of 2025.  

MIS shares closed 0.62 percent lower at SR129. 

Meanwhile, the Mediterranean and Gulf Insurance and Reinsurance Co. announced regulatory approval from the insurance authority for its planned merger with Buruj Cooperative Insurance Co.   

Under the agreement, Buruj will be merged into Medgulf, with its assets, rights and obligations transferred in exchange for 33.2 million new Medgulf shares issued to Buruj shareholders.   

The insurer noted that completion of the merger remains subject to the approval of the Capital Market Authority and the shareholders of both companies.   

Medgulf shares edged up 0.13 percent to SR15.67. 

RIYADH: ����ֱ��’s Public Investment Fund signed a memorandum of understanding with Macquarie Asset Management to expand investments in infrastructure and energy transition projects, marking the latest move to attract global partners. 

The non-binding agreement will see the two firms explore joint opportunities in priority areas such as digital infrastructure, electric vehicle charging networks and energy storage, according to a PIF statement.  

Macquarie, which manages about $588 billion in assets, also plans to open a regional office in Riyadh as part of the deal. 

The deal will also support foreign institutional investment in ����ֱ��’s economy, along with strengthening the asset management industry in the Kingdom.  

The MoU builds on PIF’s ties with the National Infrastructure Fund and other international investors to accelerate the delivery of critical infrastructure projects. The fund, with around $925 billion of assets under management, has been expanding its network of global partnerships as it pursues ����ֱ��’s Vision 2030 diversification agenda. 

Yazeed A. Al-Humied, deputy governor and head of Middle East and North Africa, Investments at PIF, said: “This MoU with MAM marks a significant milestone in attracting leading international infrastructure asset managers that can bring global capital and expertise to accelerate the delivery of ����ֱ��’s infrastructure pipeline, while promoting knowledge sharing and capacity building in ����ֱ��.”  

He added: “Our collaboration with MAM also underscores PIF’s commitment to building international partnerships that drive growth and development in local markets.”  

����ֱ��’s asset management industry has been growing rapidly, with total assets hitting 1 trillion riyals ($266 billion) in 2024, according to Fitch Ratings, as the Kingdom seeks to deepen its financial markets. 

PIF, one of the world’s most active sovereign wealth funds, has established more than 100 companies since 2017 as part of its strategy to diversify the economy and boost job creation. 

Ben Way, global head of Macquarie Asset Management, said the firm aims to explore collaboration in a number of key sectors across infrastructure and energy transition.  

“We look forward to showcasing our global experience in developing, scaling, and managing transformative projects through exchanging best practices and developing local talent,” he added. 

PIF said in the statement that the non-binding MoU remains subject to certain conditions, including regulatory and internal approvals.