RIYADH: Saudi Arabia’s Tadawul All Share Index closed higher on Sunday, gaining 71.28 points, or 0.63 percent, to end the session at 11,315.73.

Trading turnover for the day stood at SR4.32 billion ($1.15 billion), with 169 stocks advancing and 76 declining. The MSCI Tadawul Index also registered gains, rising 7.94 points, or 0.55 percent, to close at 1,451.40.

Meanwhile, the parallel market, Nomu, edged down by 30.41 points, or 0.11 percent, to 27,257.09, with 32 stocks in the green and 43 in the red.

ACWA Power Co. emerged as the session’s top performer, with its shares surging 7.97 percent to SR265.60. Naseej International Trading Co. followed with a 6.60 percent rise to SR106.60, while Saudi Public Transport Co. climbed 5.64 percent to SR14.79.

On the other hand, Sahara International Petrochemical Co. posted the steepest decline, falling 1.81 percent to SR19.50. Shares of Saudi Industrial Export Co. and Alistithmar AREIC Diversified REIT Fund also slipped, dropping 1.72 percent and 1.42 percent to SR2.29 and SR8.34, respectively.

Meanwhile, Almarai Co. announced a net profit of SR646.8 million for the first half of 2025, marking a 4 percent year-on-year increase. The company attributed the improved results to a 3 percent growth in revenue, alongside disciplined cost control measures, a favorable product mix, and lower funding costs.

Knowledge Economic City Co. signed a 25-year development and leasing agreement with Riyadh Schools Holding Co., a subsidiary of the Mohammed bin Salman Non-Profit Foundation, to build an educational complex in Madinah valued at SR399.3 million.

The project will include a 20,000 sq. meter facility designed to accommodate 1,800 students, with lease payments starting at SR13.7 million in the first year and increasing progressively. The initiative is expected to support Madinah’s educational development and bolster KEC’s long-term financial sustainability and urban goals.

Future Vision for Health Training Co. also announced a 24-month agreement with Aliens Zone LLC to develop a smart e-learning and training platform.

The deal, valued at over 5 percent of the company’s 2024 revenue, will cover system design, content development, and AI-driven training solutions. The platform is expected to launch in the fourth quarter of 2025 and is part of Future Vision’s broader digital transformation strategy in line with Saudi Vision 2030.

JEDDAH: Oman’s banking sector showed robust growth by May, with total credit rising 8 percent to 33.6 billion Omani rials ($87.36 billion) and deposits increasing 7.9 percent, reflecting strong private sector activity and confidence.

Data from the Central Bank of Oman revealed that credit extended to the private sector grew by 6.8 percent year on year to reach 27.9 billion rials by the end of May. Total deposits stood at 32.3 billion rials during the same period.

Oman’s banking sector remains resilient, supported by private sector engagement, expanding credit, and steady deposit growth. Regulatory reforms and growing confidence in financial institutions also continue to strengthen both conventional and Islamic banking.

Non-financial corporations held the largest share of private sector credit at 46.4 percent, closely followed by households at 44.2 percent. Private sector deposits increased by 7.4 percent to 21.9 billion rials, with households accounting for nearly half of the total.

The banking sectors of the Gulf Cooperation Council showed overall credit growth, highlighting regional economic resilience. Saudi Arabia’s credit facilities rose 14.4 percent to SR2.96 trillion by the fourth quarter of 2024, while Qatar experienced a slight 0.2 percent decline to 1.4 trillion riyals, mainly due to reduced public sector and consumer lending.

The combined balance sheet of conventional banks showed a 6.9 percent year-over-year increase in total outstanding credit. Credit to the private sector grew by 5.2 percent to 21.4 billion rials, while investments in securities fell 1.7 percent to 5.5 billion rials.

Government bond investments increased 2.2 percent to 2 billion rials, whereas foreign securities declined by 11.9 percent, according to the CBO, which added that deposits with conventional banks rose 5.7 percent to 25.2 billion rials, with private sector deposits growing 5.8 percent to 17.1 billion rials.

Islamic banking assets surged 17.5 percent to 9 billion rials, with financing increasing 12.3 percent and deposits rising 16.6 percent to 7 billion rials.

According to the CBO, broad money supply rose 6.9 percent to 25.4 billion rials, driven by a 13.9 percent increase in narrow money and a 4.4 percent rise in quasi-money. Within M1, currency with the public fell 5.1 percent, while demand deposits grew 18.6 percent.

Gas production

Oman’s total natural gas production and imports rose marginally by 0.5 percent year-on-year to 17.95 billion cubic meters by April, driven mainly by a 10.8 percent increase in associated gas production.

Meanwhile, non-associated and imported gas volumes declined by 2.1 percent, according to the state’s National Center for Statistics and Information.

Industrial projects remained the largest consumers, using 9.32 billion cubic meters, followed by power generation stations, which used 4.33 billion cubic meters. Oil fields consumed 4.21 billion cubic meters, with industrial zones using 88 million cubic meters.