عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Saudi Stocks Record Best Closure in 6 Months

Saudi stocks record best closure in six months. (Reuters)
Saudi stocks record best closure in six months. (Reuters)
TT
TT

Saudi Stocks Record Best Closure in 6 Months

Saudi stocks record best closure in six months. (Reuters)
Saudi stocks record best closure in six months. (Reuters)

Saudi Arabia’s Tadawul All Share rose 0.9 percent on Tuesday and closed at 8,347 points, rising 77 points. This was the highest closure in around six months amid trading value of around SAR3.2 billion (USD853.3 million).

Variable gains were witnessed among the 98 companies that are listed in the market. This reflects investor confidence in capital market trading and the listed Saudi firms’ capability to achieve better results than the positive ones reached in 2018.

In addition, the market value of Saudi stocks rose to SAR1.96 trillion (USD522.6 billion) – a figure close to the level achieved a year ago.

The shares market is among the world’s most growing markets, gaining 600 points in recent days alone.

The Saudi economy is forecast to reach more positive growth rates in 2019 compared to 2018 in line with the Kingdom’s package of economic reforms that seek to diversify the economy and bolster investment.

Listed firms are expected to announce their results for the fourth quarter of 2018 and they are projected to be better than the figures achieved in 2017.

Most Viewed

 
 
Business

China Expands Visa-free Entry to More Countries in Bid to Boost Economy

Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
TT
TT

China Expands Visa-free Entry to More Countries in Bid to Boost Economy

Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)

China announced Friday that it would expand visa-free entry to citizens of nine more countries as it seeks to boost tourism and business travel to help revive a sluggish economy.
Starting Nov. 30, travelers from Bulgaria, Romania, Malta, Croatia, Montenegro, North Macedonia, Estonia, Latvia and Japan will be able to enter China for up to 30 days without a visa, Foreign Ministry spokesperson Lin Jian said.
That will bring to 38 the number of countries that have been granted visa-free access since last year. Only three countries had visa-free access previously, and theirs had been eliminated during the COVID-19 pandemic.
The permitted length of stay for visa-free entry is being increased from the previous 15 days, Lin said, and people participating in exchanges will be eligible for the first time. China has been pushing people-to-people exchange between students, academics and others to try to improve its sometimes strained relations with other countries, The Associated Press reported.
China strictly restricted entry during the pandemic and ended its restrictions much later than most other countries. It restored the previous visa-free access for citizens of Brunei and Singapore in July 2023, and then expanded visa-free entry to six more countries — France, Germany, Italy, the Netherlands, Spain and Malaysia — on Dec. 1 of last year.
The program has since been expanded in tranches. Some countries have announced visa-free entry for Chinese citizens, notably Thailand, which wants to bring back Chinese tourists.
For the three months from July through September this year, China recorded 8.2 million entries by foreigners, of which 4.9 million were visa-free, the official Xinhua News Agency said, quoting a Foreign Ministry consular official.