Category: Finance

Riyadh, The main Saudi stock index (TASE) closed high, gaining 121.93 points, to close at the level of 12,079.01 points, with deals worth SR. 7.7 billion.

According to the daily economic bulletin of the Saudi News Agency for the Saudi stock market, the volume of traded shares reached 197 million, through more than 340,000 deals, in which 123 companies increase, while 66 companies closed down.

The Saudi parallel stock index (NOMU) closed high today, gaining 33.93 points, to close at the level of 26263.32 points, with deals worth SR. 186 million, and the volume of traded shares reached more than 1.2 million, through 5741 deals.

Source: Saudi Press Agency

Riyadh, Minister of Investment Khalid bin Abdulaziz Al-Falih stressed that the mineral resources sector is among the most important resources that support countries’ economies, and that launching the International Mining Conference reflects the Kingdom of Saudi Arabia’s interest in the mining sector in the world, its influence on the economic recovery and big impact on the future of several priority industries.

Participating in session of the International Mining Conference, he said that the Kingdom of Saudi Arabia has increasing the competitiveness in the sector through enacting laws and regulation. To speed up procedures for geological exploration and attracting investments, the Kingdom of Saudi Arabia has developed the quality and availability of geographical data through several initiatives, including the General program for Geological Survey, where efforts resulted in issuing 75 new exploration licenses after launching the new Mining Investment Bylaw in January, 2021.

Al-Falih noted that the Kingdom of Saudi Arabia has set ambitious targets, where the mining sector now contributes to some $ 17 billion to the GDP, where the Kingdom of Saudi Arabia is willing to triple this number by 2030, referring to the importance of holding such conferences to exchange expertise, boost benefits in the sector and seek to develop modern mining industries, expressing hope for the event to realize envisioned goals.

The ministry’s participation in the conference is part of its keenness to attract investments in the mining sector and enhance their flow into the national economy.

The ministry, through its participation in the accompanying "Invest in Saudi" pavilion, reviewed top promising investment opportunities in the fields of mining and mineral resources, whose development is among top priorities and due to the fact that the sector is the third biggest pillar for industries to diversify economic resources of the Kingdom of Saudi Arabia, in addition to holding several bilateral meetings with the aim of providing investors and opportunity to get acquainted with the available investments and partnerships, as well as the services and incentives it offers to investors.

The volume of mineral resources investments on the "Invest in Saudi" platform currently stands at 70 private opportunities in the mining and mineral sector with an investment volume exceeding $ 25 billion, while estimations put the value of mineral resources in the Kingdom of Saudi Arabia at $ 1.3 trillion.

Source: Saudi Press Agency

Riyadh, Saudi Stock Exchange's main index ended trading higher here today, gaining 178.72 points to close at 11,843.55 points.

The total value of the trading reported was SAR 8 billion, while the toll of shares traded was 185 million, divided into over 340,000 deals.

The Saudi Parallel Equity Market Index (NOMU) ended the day gaining 297.77 points, to close at 26,143.59 points, with a valuation of SAR 162 million and an overall tally of more than 790,000 stocks traded and divided into as many as 5,123 deals.

Riyadh, The Ministry of Commerce received today the Arab Government Excellence Award, naming it the best Arab ministry as more than 5,000 Arab governments have competed in the Award’s first session. The ministry was also announced to have obtained the best smart Arab government application for the "Establish a Business" service, enabling the business sector to register electronically their enterprises within 30 minutes after automating all procedures.

The Director-General of the Executive Council of the Arab Administrative Development Organization (ARADO) Dr. Nasser bin Hatlan Al-Qahtani handed over the award to the Deputy Minister of Trade Dr. Iman Bint Habbas Al-Mutairi, at a ceremony virtually attended by the Minister of Commerce Dr. Majid Al-Qasabi at the ministry’s headquarters in Riyadh.

In remarks, Al-Qasabi stressed that this national achievement is one of the outcomes of the Kingdom's Vision 2030, praising the creativity and excellence of the ministry’s work teams, calling for more efforts to develop the quality of all services provided for business and consumer sectors.

Source: Saudi Press Agency

Riyadh, Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha met here today with Minister of Communications of the Republic of Iraq Arkan Shihab Al-Shaibani and the accompanying delegation, in the presence of Iraqi Ambassador to the Kingdom of Saudi Arabia Dr. Abdulsattar Al-Janabi.

During the meeting, ways of strengthening cooperation between the two brotherly countries in the field of the digital economy and digital government were discussed.

The meeting reviewed the leading Saudi experience in the fields of digital transformation and the development of communications and infrastructure, which contributed to enhance achieving advanced positions by the Kingdom of Saudi Arabia in this field, and supporting the expansion of the Saudi technology companies in the Iraqi markets.

The meeting was attended by a number of senior Saudi officials.

On the sidelines of the meeting, the Saudi-Iraqi Technical Forum was held, in which the Technology Agency reviewed the trends and initiatives in the Kingdom of Saudi Arabia, while some Saudi technology companies shed light on the promising investment opportunities, in addition to the technical services provided.

Source: Saudi Press Agency

Washington, Tesla Inc (TSLA.O) Chief Executive Officer Elon Musk tweeted on Friday that the electric carmaker will raise the U.S. price of its advanced driver assistant software dubbed "Full Self Driving" to $12,000 on Jan. 17.

The 20% price rise comes less than two years since Tesla raised Full Self-Driving (FSD) prices to $10,000 from $8,000 in 2020, Reuters reported.

"Tesla FSD price rising to $12k on Jan 17. Just in the US." Musk tweeted.

Musk also added that the monthly subscription price will rise when FSD goes to wide release.

"FSD price will rise as we get closer to FSD production code release," he tweeted.

Tesla has been expanding the release of a test version of its upgraded FSD software, a system of driving-assistance features - like automatically changing lanes and making turns, but the features do not make the vehicles autonomous.

Source: Bahrain News Agency