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.



Saudi Industry Ministry: Record 144% Surge in New Mining Exploitation Licenses in H1 2025 

Miners works in the Al Amar gold mine, 200km (124 miles) southwest of Riyadh, May 28, 2008. (Reuters)
Miners works in the Al Amar gold mine, 200km (124 miles) southwest of Riyadh, May 28, 2008. (Reuters)
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Saudi Industry Ministry: Record 144% Surge in New Mining Exploitation Licenses in H1 2025 

Miners works in the Al Amar gold mine, 200km (124 miles) southwest of Riyadh, May 28, 2008. (Reuters)
Miners works in the Al Amar gold mine, 200km (124 miles) southwest of Riyadh, May 28, 2008. (Reuters)

The Ministry of Industry and Mineral Resources announced on Thursday a significant rise in new mining exploitation licenses during the first half of 2025, marking a 144% increase compared to the same period in 2024.

A total of 22 licenses were issued - up from just nine in the previous year - reflecting growing investor interest and the ministry's efforts to create a more attractive and competitive mining environment.

The jump is also aligned with the rapid development of the Saudi mining sector, which is undergoing as part of the country's broader push for economic diversification.

According to the ministry's spokesperson, Jarrah bin Mohammed Al-Jarrah, 23 companies were granted exploitation licenses during this period, 16 of them receiving a mining license for the very first time. Combined, these projects represent investments exceeding SAR134 million and cover an area of 47 square kilometers.

Annual production capacity from the newly licensed operations is estimated at 7.86 million tons of various mineral resources, including salt, clay, silica sand, low-grade iron ore, feldspar, and gypsum.

Currently, the Kingdom holds a total of 239 active mining exploitation and small-mine licenses. Of these, 32 fall under Category A, covering high-value minerals such as gold, copper, phosphate, and bauxite, while the remaining 207 are Category B licenses for a range of other minerals, including silica sand, gypsum, limestone, salt, and clay.

The ministry underlined its commitment to advancing the mining sector as a central pillar of Saudi Vision 2030.

With mineral wealth in the Kingdom estimated at over SAR9.4 trillion, the sector is being positioned as the third key industrial pillar, supporting national efforts to diversify sources of income and drive sustainable economic growth.