Saudi Stock Index Loses Nearly 1,000 Points within a Week

The Saudi stock market recorded a sharp decline during the week’s trading. (Asharq Al-Awsat)
The Saudi stock market recorded a sharp decline during the week’s trading. (Asharq Al-Awsat)
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Saudi Stock Index Loses Nearly 1,000 Points within a Week

The Saudi stock market recorded a sharp decline during the week’s trading. (Asharq Al-Awsat)
The Saudi stock market recorded a sharp decline during the week’s trading. (Asharq Al-Awsat)

Saudi Arabia’s Tadawul All Share Index (TASI) dropped 4.1% by 542 points on Thursday, to close at 12,837 points, with the total value of traded shares reaching nearly SR10.2 billion.

In the last four trading sessions, the Saudi benchmark deepened its losses to more than 980 points. This comes as financial markets and global stock exchanges, led by the US, are witnessing a sharp decline following inflation data that raised fears of a continued tightening of monetary policy by the Federal Reserve and global central banks.

The Saudi Parallel Equity Market Index (NOMU) ended the day losing 27.38 points, to close at 22,646.74 points, with a value of SR31 million and an overall tally of more than 429,000 stocks traded in 2,171 deals.

Meanwhile, the Saudi Central Bank (SAMA) issued the annual report on the performance of the insurance market, which assessed the sector’s developments and financial results during 2021, as well as its contribution to the Kingdom’s GDP.

According to the report, the insurance sector grew 8.4 percent in 2021, with a total written premium at SR42 billion ($11.2 billion).

The report further stated that the contribution of insurance sector to non-oil GDP decreased slightly by -0.01 percent to reach 1.91 percent, while the overall loss ratio increased to reach 83.4 percent in 2021 compared to 76.7 percent in 2020.

It added that the losses of the insurance sector amounted to 47 million riyals during the past year, compared to a net profit of 1.38 billion riyals in 2020, noting that the improvement in the income of investment operations helped limit the decline in the sector’s performance.



Trump Says US May Not Have a Negotiated Trade Deal with Canada

 25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)
25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)
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Trump Says US May Not Have a Negotiated Trade Deal with Canada

 25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)
25 July 2025, US, Washington: US President Donald Trump speaks to the media before heading to Scotland this weekend for meetings and to play golf. (dpa)

The United States may not reach a negotiated trade deal with Canada, US President Donald Trump said on Friday, suggesting his administration could set a tariff rate unilaterally.

Trump, speaking to reporters as he left the White House for a trip to Scotland, said, "We haven't really had a lot of luck with Canada. I think Canada could be one where there's just a tariff, not really a negotiation."

The two nations are trying to work out a trade deal before August 1, when Washington is threatening to impose 35% tariffs on all Canadian goods not covered by the US-Mexico-Canada trade agreement.

Prime Minister Mark Carney's office did not immediately respond to a request for comment. Canadian officials have increasingly made clear that the chances of a deal by August 1 are unlikely.

Dominic LeBlanc, the federal cabinet minister in charge of US-Canada trade, told reporters in Washington on Thursday after two days of talks that "we've made progress, but we have a lot of work in front of us."

LeBlanc said Canada would take the time necessary to get the best deal possible.

Carney indicated last week that Canada might not be able to persuade the United States to lift all its sanctions.