Qatar Investment Authority invests $2.43 billion to accelerate RWE’s green energy strategy

RIYADH: Saudi Arabia’s main index rose on Thursday, but September still marked a dismal month for the stock market, marked by persistent inflation, volatile gas prices and aggressive Fed hikes.

The Tadawul All Share Index closed September down 7% in the month to hit 12,283 at the closing bell of Thursday’s session.

This despite closing the last session of September in the green, with a gain of 2.11%.

Other Gulf markets also ended Thursday’s session in the green. The Qatari index closed up 1.2% while the Abu Dhabi index added 0.4%.

Despite this, there was a 0.8% drop in Dubai’s main stock market index.

Outside the Gulf, Egypt’s blue chip index climbed 1.3% on Thursday, reversing six straight losses.

Stock market news

Nahdi Medical Co. established Al-Sakhaa Integrated Solutions Co., owned by its subsidiaries in Egypt, to support the company’s business and strategy.

The Saudi Paper Manufacturing Co. has signed a SR166 million ($44 million) deal with Italian company Toscotec for a raw tissue paper roll production line.

Tourism Enterprise Co. and SHUAA Capital Saudi Arabia have extended their Memorandum of Understanding to purchase three hotels in Riyadh, Jeddah and Dammam for an additional period from September 30 to November 30, 2022.

Tihama Advertising and Public Relations Co. and UK-based WPP plc have postponed their agreement to create a Bahrain-based holding group via merger until October 31, 2022.

Unitholders of Saudi Economic and Development Securities Co. will receive a cash dividend of SR 0.18 per unit for the period July 2 to September 30, 2022.

Retal Urban Development Co. shareholders have approved a cash dividend of SR2 per share for the first half of 2022.

Al-Baha Investment and Development Co. settled all Zakat claims for the years 2000-2010.

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