TASI continues to lose ground tracking oil prices: Closing bell 

TASI continues to lose ground tracking oil prices: Closing bell 

RIYADH: Saudi Arabia’s main index extended its losses in its last trading session of the week following further declines in oil prices. The Tadawul All Share Index declined 1.71 percent to end at 11,211 while the parallel market Nomu dropped 1.67 percent to finish at 18,908. Saudi oil giant Aramco ended the session 0.29 percent lower, a week after announcing that its profit had surged 39 percent in the third quarter of 2022, surpassing the average of analysts’ forecasts. Profits at Aramco hit SR159 billion ($42 billion) after revenue soared 51 percent to SR544 billion. Saudi National Bank, the Kingdom’s largest lender, slipped 4.02 percent, while the Kingdom’s most valuable bank, Al Rajhi, fell 1.41 percent, after it announced the appointment of CEO Waleed Almogbel as its new managing director and board member. National Gypsum Co. fell 4.24 percent, as its profits declined by 77 percent to SR5.4 million during the first nine months of 2022. Alkhaleej Training and Education Co. shed 1.79 percent, after it reported a profit surge of 2,994 percent to SR10.3 million in the first nine months of 2022. State-owned Saudi Electricity Co. declined 4.35 percent, after its profit fell 10 percent to SR13 billion in