5 important events witnessed by the Tadawul market today, Sunday

Today Sunday’s session, the first this week in the Saudi Tadawul market, included many positive news.

We begin with the announcement of the Medina Cement Company signing a natural gas supply agreement with the Saudi oil and petrochemical giant, Saudi Aramco, under the umbrella of the liquid fuel displacement program.

Switching from relying on liquid fuels to using natural gas contributes to reducing carbon emissions.

Almarai Company’s annual net profits increased by 12.9% during the fiscal year 2024, reaching 2.31 billion riyals, compared to an annual net profit of 2.05 billion riyals during the fiscal year 2023.

Saudi Pharmaceutical Industries and Medical Supplies signed a contract worth 164.1 million riyals annually, for a period of 5 years, with Ibrahim Al-Hadithi International Company for the purpose of selling and distributing a number of medical products.

The contract included an agreement to sell and distribute products, such as: Vivadol, and an anti-allergy product, and its financial impact will appear in the financial statements for the current year 2025 and the following years.

Sulaiman Al-Habib Medical Services Group announced that it will open and begin operating a hospital in the Al-Hamra district in Riyadh, and will receive patients starting next Tuesday.

The stages of pilot testing for the hospital’s operational requirements have been completed, and the necessary medical, nursing, technical and administrative personnel have been provided to begin the hospital’s operation, and its financial impact will appear starting from the first quarter of the current fiscal year 2025.

Muhammad Hassan Al-Naqul Sons Company has completed the establishment of a subsidiary with limited liability, in the city of Dammam, specializing in providing general contracting services, and the issuance of the bylaws and commercial register has been completed.

The Board of Directors of the Saudi National Bank recommended purchasing 16 million shares for the purpose of allocating them to the employee stock ownership plan program, and to be financed from internal resources to be kept as treasury shares, within the framework of its employee stock ownership plan program.