Oman LNG partners with German firm to expand global footprint 

Oman LNG partners with German firm to expand global footprint 

RIYADH: Saudi Arabia’s Tadawul All Share Index dropped for the second consecutive session as it shed 80.94 points, or 0.70 percent, to close at 11,412.88 on Tuesday. 

The total trading turnover of the benchmark index was SR5.11 billion ($1.36 billion) as 49 of the stocks advanced, while 168 declined.   

While the Kingdom’s parallel market Nomu shed 93.60 points to 23,394.77, MSCI Tadawul Index also fell 0.68 percent to close at 1,477.75. 

The best-performing stock on Tuesday was Bupa Arabia for Cooperative Insurance Co., as its share price advanced 6.06 percent to SR199.40. 

Other top gainers were Riyadh Cables Group Co. and Nahdi Medical Co., whose share prices soared by 5.02 percent and 3.70 percent, respectively. 

The worst performer of the day was Musharaka REIT Fund, whose share price dipped by 7.76 percent to SR6.89. 

On the announcements front, Nomu-listed Arabian Food and Dairy Factories Co., also known as FADECO, reported a net profit of SR2.08 million in the first half of this year, compared to a loss of SR199 million for the same period in the previous year. 

In a statement to Tadawul, FADECO revealed that lower raw material costs and higher product prices drove the company’s positive performance in the first half of 2023. 

Gas Arabian Services Co. was