Closing聽Bell: Saudi main index聽slips to close at 11,536聽
Closing聽Bell: Saudi main index聽slips to close at 11,536聽/node/2621194/business-economy
Closing聽Bell: Saudi main index聽slips to close at 11,536聽
The benchmark index recorded a total trading turnover of SR4.44 billion ($1.18 billion), with 66 stocks advancing and 191 declining.聽Shutterstock
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Updated 15 min 15 sec ago
Reem Walid聽聽
Closing聽Bell: Saudi main index聽slips to close at 11,536聽
Updated 15 min 15 sec ago
Reem Walid聽聽
RIYADH:聽海角直播鈥檚 Tadawul All Share Index fell on Sunday, losing 119.56 points, or 1.03 percent, to close at 11,536.29.聽
The benchmark index recorded a total trading turnover of SR4.44 billion ($1.18 billion), with 66 stocks advancing and 191 declining.聽
The Kingdom鈥檚 parallel market Nomu聽also slipped 73.34 points, or 0.29 percent, to close at 24,943.63, as 26 stocks gained while 43 retreated.聽
Meanwhile, the聽MSCI Tadawul Index聽dropped 18.74 points, or 1.24 percent, to finish at 1,489.32.聽
Advanced Building Industries Co.聽was the day鈥檚 top performer, with its share price jumping 9.99 percent to SR39.18. Other notable gainers included聽Allied Cooperative Insurance Group, which rose 6聽percent to SR11.83, and聽United Carton Industries Co., which advanced 5.14 percent to SR31.52.聽
On the other hand,聽Naseej聽International Trading Co.聽posted the steepest loss, dropping 7.56 percent to SR54.40.聽Americana Restaurants International PLC聽declined 6.76 percent to SR2.07, while聽Saudi Co. for Hardware聽fell 6.02 percent to SR31.20.聽
In corporate announcements,聽Nayifat聽Finance Co.聽reported a net profit of SR59.4 million for the first nine months of 2025, down 37 percent year on year, according to a Tadawul filing. The company attributed the decline to lower operating revenues and higher credit impairment charges aimed at improving its coverage ratio.聽聽
Nayifat鈥檚聽shares closed 1.13 percent lower at SR13.19.聽
Arabian Drilling Co.聽said its net profit for the first nine months of 2025 dropped 70.8 percent to SR73.3 million,聽mainly due聽to聽a shift in its activity mix, with reduced offshore contributions partly offset by improvements in the land segment.聽聽
The company鈥檚 shares rose 2.99 percent to SR88.55.聽
Meanwhile,聽National Medical Care Co.聽posted a net profit of SR247.5 million for the first nine months of the year, up 17.3 percent from a year earlier. The increase was attributed to higher revenue and cost-optimization measures that improved margins at the gross,聽operating, and EBITDA levels.聽聽
Kuwait launches digital skills drive with Microsoft to boost AI and cloud capabilities聽
Updated 02 November 2025
Mohammed Al-Kinani聽
JEDDAH: Kuwait has launched a national training initiative to equip citizens with skills in artificial intelligence, cloud computing, and Microsoft Copilot tools, as part of efforts to build a digitally empowered workforce.
The 鈥淜uwait Skills鈥 program 鈥 launched in partnership with Microsoft and the Central Agency for Information Technology 鈥 seeks to strengthen the country鈥檚 human capital and align with the state鈥檚 鈥淣ew Kuwait 2035鈥 vision, according to the Kuwait News Agency, or KUNA.
The collaboration expands on Microsoft鈥檚 earlier announcement in March of plans to establish an AI-powered Azure cloud region in Kuwait, a move expected to bolster national infrastructure and support the country鈥檚 ambitions to become a regional technology hub.
Minister of State for Communications Affairs Omar Al-Omar said the initiative reflects the government鈥檚 goal of building an integrated digital ecosystem that enhances public-sector efficiency and supports sustainable, innovation-led development.
鈥淗e emphasized that empowering Kuwaiti professionals with advanced technical skills has become a key pillar in positioning the country as a leader in the digital and knowledge economy,鈥 KUNA reported.
The program, the minister added, embodies a national vision to prepare a capable generation that contributes to a modern, innovation-led economy by developing future-ready skills that foster creativity and productivity.
鈥淗e urged all government entities to seize this opportunity to refine talents and build professional capacities, reaffirming the ministry鈥檚 commitment to supporting initiatives that empower a generation capable of leading Kuwait鈥檚 digital transformation,鈥 the KUNA report added.
Microsoft鈥檚 Charles Nahas, regional general manager for the Middle East, said the program aims to train more than 30,000 employees, 4,000 technical experts, and 350 leaders on AI and cloud technologies, while enabling over 100,000 users to utilize Copilot tools through a new Center of Excellence developed with CAIT.
He noted that the initiative represents not only training but a holistic transformation, providing access to global education, recognized certifications, and career development opportunities.
Nahas added that the partnership is part of a shared vision to accelerate innovation, enhance cybersecurity, and expand Kuwait鈥檚 digital economy to benefit both public institutions and private enterprises.
The program鈥檚 progress will be tracked through quarterly reports assessing training outcomes and measurable gains in digital capacity, according to KUNA.
RIYADH: A three-wheeled electric bicycle, an electric car described as the world鈥檚 fastest, and electric buses were among the key innovations showcased at the electric vehicle exhibition held in the Saudi capital over three days.
海角直播 has set a clear goal of converting 30 percent of all vehicles in Riyadh to electric by 2030, as part of a broader strategy to halve the city鈥檚 emissions, reported.
The fourth edition of the exhibition was organized within the framework of Vision 2030, which aims to advance clean transportation. It also served as a platform to discuss local manufacturing plans in the emerging EV sector 鈥 domestically, regionally, and globally 鈥 and to highlight efforts to develop the skills of Saudi nationals working in the industry.
Visitors to the exhibition were greeted by strong competition among participating companies showcasing their latest transportation innovations. This competition extended beyond speed to include fueling methods and vehicle capabilities, underscoring that the energy source for future transportation has shifted from gasoline and diesel to electricity 鈥 Edison鈥檚 invention that transformed modern life.
The exhibition featured the launch of several new vehicles. Bako Motors unveiled the Bako B1, a three-wheeled electric motorcycle designed for last-mile delivery services. The vehicle includes a solar roof that can generate enough energy for up to 50 km of daily driving, along with a 2,000-liter cargo capacity, addressing the needs of logistics firms seeking sustainable fleets.
Also on display was the ROX ADAMAS, an all-terrain SUV showcased for the first time, while Lucid Motors presented its Gravity SUV, featuring a range exceeding 700 km and equipped with advanced driver-assistance technologies.
DAN Motors introduced its CG150 motorcycle, featuring a 149cc engine, five-speed transmission, top speed of 95 km/h, an 11.5-liter fuel tank, and a payload capacity of up to 265 kg.
This shift toward electric mobility is being driven by significant investments in local manufacturing and growing consumer confidence. Market studies suggest that about 40 percent of the population plans to purchase an electric vehicle within the next three years.
A key theme at the exhibition was progress in infrastructure development.
Faisal Sultan, regional president of Lucid Motors, said the organizational structure and infrastructure for EV adoption are now in place. He noted that the Public Investment Fund has established a specialized company to develop the national charging network, which has already expanded to more than 200 locations, with plans to exceed 1,000 charging stations by 2030.
German dairy, honey, and coffee firms plan factories in 海角直播聽
Updated 02 November 2025
BASEM BAWAZEER聽础尝-贰蚕罢滨厂础顿滨础贬听
JEDDAH: Six German companies specializing in dairy, honey, and coffee are exploring investment opportunities and commercial partnerships with Saudi investors and suppliers.
The firms plan to expand into the Saudi market in the coming phases and are working to establish local factories for food production and processing, according to Rawabi Basyouni, head of the German Desk for the Western Province at the German-Saudi Liaison Office for Economic Affairs, reported.
Basyouni noted that the companies are targeting key sectors including dairy, cheese, honey, jams, and coffee, adding that they recognize the scale of the Saudi market and the high quality of existing domestic products.
Her remarks came during a meeting between the German food sector delegation and representatives of the Jeddah Chamber of Commerce, attended by a number of investors and stakeholders in the food industry.
According to the Food and Agriculture Organization of the UN, Germany leads the EU in milk production, with an annual output of around 33 million metric tonnes. The country鈥檚 total dairy market is projected to grow from about $30 billion in 2024 to around $39 billion by 2029, at a compound annual growth rate of nearly 5 percent.
Cheese currently represents the largest segment by value in Germany鈥檚 dairy market and is expected to remain the fastest-growing in the coming years, driven by rising demand for high-quality and specialty cheeses.
Fahad Al-Ghamdi, chairman of the Food and Drug Products Committee at the Jeddah Chamber of Commerce, told Al-Eqtisadiah that 鈥渢he committee has been coordinating with several German food companies,鈥 describing the meeting as an important opportunity to strengthen investment prospects between the two countries.
He confirmed ongoing cooperation to enhance partnerships between Saudi and German firms in the date industry, noting strong European demand for Saudi dates. He added that some date varieties are used in pharmaceuticals, while others are incorporated into dairy and related products.
Al-Ghamdi added that while the German market is competitive and robust, 海角直播 offers an attractive environment for foreign investment, expressing optimism that several agreements and deals will be signed between Saudi and German companies in the food sector.
JEDDAH: They once said the automobile world was no place for a woman. But Chinese executive Stella Li proved them wrong 鈥 and went on to become one of the most influential women in the global automotive industry.
As executive vice president and president of BYD Americas, Li has left an indelible mark on the auto industry and beyond. From her academic beginnings at China鈥檚 prestigious Fudan University to her pivotal role in transforming BYD into a dominant force in the electric vehicle market, Li鈥檚 story is one of vision, persistence, and leadership.
Stella Li, the executive vice president of BYD. Supplied
Li鈥檚 journey began when she joined BYD in 1996. A year later, she became marketing manager, helping the company grow as a leading mobile phone battery manufacturer.
Recalling her early days, Li told Arab News in an exclusive interview: 鈥淚n 1999, I landed in Rotterdam to open our first office in Europe. I had only $30,000 as a budget and a container load of the Chinese group鈥檚 lithium-ion batteries. The management told me that鈥檚 the only budget 鈥 sell these batteries to survive.鈥
With just two people helping her, she was able to clinch a deal and sell the batteries, and since then, she moved BYD to another level, and the company has moved far past its roots to become one of the world鈥檚 most powerful electric-vehicle makers.
Owing to her ability to navigate complex challenges, Li went on to open BYD鈥檚 first overseas office in Hong Kong in 1997, followed by its first European office in Rotterdam in 1999. In 2002, she established BYD鈥檚 North American headquarters for batteries and consumer electronics in Chicago. By 2010, she was appointed president of BYD Motors Inc., spearheading the company鈥檚 expansion into North and South America.
As one of the most powerful women shaping the future of mobility, Li was among the speakers at this year鈥檚 Future Investment Initiative conference in Riyadh.
The 55-year-old participated in several discussions and media interactions, including talks on BYD鈥檚 plans for a potential Gulf distribution hub in 海角直播.
鈥淭he new distribution center is a huge investment to serve all the GCC countries and is expected to open next year,鈥 she said.
Reflecting on her visit to 海角直播, Li added: 鈥淲hen I was at the FII conference, I felt that the Saudi government is very committed to its Vision. The officials are not just talking 鈥 they deliver and are moving very fast to achieve the Vision鈥檚 goals. I am very impressed with the government鈥檚 intention to transform the country in such a short period.鈥
Li noted that BYD is not only bringing its global No. 1 New Energy Vehicle expertise to the Saudi market but also tailoring its expansion to local needs 鈥 with flagship showrooms in Riyadh and Jeddah, sub-dealers in Dammam, immersive discovery centers, and strategic collaborations with Aramco and the Saudi Green Initiative.
Speaking about the Aramco partnership, she explained: 鈥淲e have signed an agreement with Saudi Aramco Technologies Co., a subsidiary of Aramco, to combine research and development capabilities to develop solutions that deliver both environmental and efficiency gains.鈥
Asked about the importance of 海角直播 to BYD鈥檚 growth, Li said: 鈥満=侵辈 means a lot to us. To prove that, this is my second visit in six weeks. It鈥檚 a promise of partnership, progress, and a future where 海角直播 isn鈥檛 just adopting technology 鈥 it鈥檚 helping to define it.鈥
She also revealed that BYD plans to deploy 500 to 1,000 ultra-fast EV charging stations across the Gulf region.
鈥淵es, we will offer one-megawatt units in 海角直播 and the UAE that can deliver a 400-kilometer range in just five minutes,鈥 she said.
Beyond technology, Li is a strong advocate for women鈥檚 leadership. She praised 海角直播鈥檚 continued efforts to empower women economically and socially.
鈥淲omen in every country are present at every stage of the process, and their input is essential to BYD鈥檚 success. I am really glad to see Saudi women taking a major role in the development plan 鈥 and we are glad to have them here with us in 海角直播,鈥 she said.
Stella Li, the executive vice president of BYD. Supplied
On developing young Saudi talent, she added: 鈥淲e came to 海角直播, brought our technology, and established our branches that now employ many Saudis. It is our duty to train young local talent 鈥 in technology and leadership. It doesn鈥檛 matter how qualified these young people are; we make them able to learn and become the best in the industry.鈥
Li praised the Kingdom鈥檚 focus on nurturing local talent, especially women in technology and leadership.
The trailblazing executive recently became the first woman in the history of the World Car of the Year, or WCOTY, program to win the World Car Person of the Year 2025 award.
A jury of 96 international automotive journalists from 30 countries selected her for making the most significant contribution to the global automotive industry over the past year.
Li was also featured in the Time 100 Climate list of the most influential leaders in the fight against climate change.
In conclusion, she said she is satisfied with BYD鈥檚 sales performance in 海角直播 and noted that the company is actively expanding its local sales teams, with a focus on earning consumer trust.
GCC real GDP hits $466.2bn in Q1, up 3.1% year on year
Updated 02 November 2025
Nirmal Narayanan
RIYADH: The real gross domestic product of countries in the Gulf Cooperation Council region reached $466.2 billion by the end of the first quarter of this year, marking a year-on-year increase of 3.1 percent, according to a report.
Non-oil activities accounted for 73.2 percent of the GCC鈥檚 real GDP by the end of the first quarter of 2025, while oil activities held the remaining 26.8 percent share, news agency WAM reported, citing data from the Statistical Center for the Cooperation Council for the Arab States of the Gulf, or GCC-Stat.
The rise in non-oil activities aligns with the economic diversification efforts of countries in the region including 海角直播, where governments are focussing on industries like business and tourism to reduce dependence on crude revenues.
In October, 海角直播鈥檚 General Authority for Statistics reported that the Kingdom鈥檚 GDP expanded by 5 percent in the third quarter of this year, compared to the same period in 2024, driven by gains in both oil and non-oil sectors.
鈥淭he latest statistics released by the Statistical Center of the Cooperation Council for the Arab States of the Gulf showed that real GDP of the GCC countries reached $466.2 billion by the end of the first quarter of 2025, up from $451.9 billion in the same period of 2023, marking a growth rate of 3.1 percent,鈥 said the report.
Compared to the fourth quarter of 2025, real GDP in the GCC region witnessed a growth of 0.1 percent.
In October, a report released by the International Monetary Fund said that the economy of the GCC is projected to expand by 3.9 percent in 2025, further accelerating to 4.3 percent in 2026.
IMF added that the MENA region is expected to see a gross domestic product expansion of 3.3 percent in 2025, rising to 3.7 percent in 2026.
Among countries, 海角直播 is expected to witness a GDP growth of 4 percent in 2025 and 2026.
The UAE economy will expand by 4.8 percent in 2025 and 5 percent in 2026, while Qatar鈥檚 GDP is projected to rise 2.9 percent this year before accelerating to 6.1 percent in 2026.
Following a slowdown in 2024, Kuwait鈥檚 economy is set to rebound in 2025, with growth projected at 2.6 percent.
The international financial institution further said that the average inflation rate in the Gulf region is projected at 1.7 percent in 2025 and 2 percent in 2026 鈥 underscoring the bloc鈥檚 resilience to global price pressures.