Dubai lender Emirates NBD posts 18% rise in Q1 profit

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RIYADH: Saudi Arabia’s main index opened higher in the last trading session of the week following a slight ease on the energy market.

TASI opened 0.15 percent higher to 13,689, while the parallel market, Nomu, edged 0.18 percent lower to 23,889, at 10:09 a.m. Saudi time.

In energy trading, Brent crude oil reached 108.80 per barrel, and US benchmark WTI crude oil reached 102.75 per barrel, at 10:28 a.m. Saudi time.

Alkhorayef Water and Power Technologies Co. rose 4.36 percent, following the award of four contracts worth SR1.9 billion ($506 million) for the improvement of water quality in the Eastern Province.

Etihad Etisalat Co., known as Mobily, edged down 0.12 percent, despite reporting its profit surged by 41 percent to SR319 million in the first quarter of 2022.

Saudi Aramco, the largest player on the Saudi oil market, opened today’s trading down 0.35 percent.

The Electrical Industries Co. dropped 1.85 percent, after its shareholders approved its recommendation for SR1 per share cash dividends for 2021.

The Kingdom’s largest valued bank Al Rajhi gained 1 percent, while Saudi pharma giant Aldawaa edged up 0.36 percent