Saudi Stock Exchange Main Index Ends Trading Lower at 11,392.83 Points

Riyadh, Saudi Stock Exchange's main index ended trading higher here today, gaining 70.98 points to close at 11,392.83 points. The total value of the trading reported was SR6 billion, while the toll of shares traded was more than 165 million, divided into over 275,000 deals.

The Saudi Parallel Equity Market Index (NOMU) ended the day lower gaining 40.16 points, to close at 24,918.51 points, with a valuation of more than SR23 million and an overall tally of 245,000 stocks traded and divided into as many as 989 deals.

Source: Saudi Press Agency

SAMI and Bahri Ink Agreement to Support Defense Logistics Localization

Riyadh, Saudi Arabian Military Industries (SAMI), a wholly-owned subsidiary of the Public Investment Fund (PIF), has signed a logistics services agreement with Bahri, a global leader in logistics and transportation. This falls within SAMI's commitment to develop the capabilities and support the localization of Saudi Arabia’s military industries sector.

Under the terms of the agreement, Bahri will provide wide-ranging internal and external logistics services, including sea, air, and land transport, as well as freight services to the various business units and affiliated companies of SAMI.

The agreement has been co-signed at the headquarters of SAMI in Riyadh by Eng. Walid Abukhaled, the CEO of SAMI, and Eng. Abdullah Aldubaikhi, the CEO of Bahri. The contract includes the provision of complete door-to-door logistics and transportation services to facilitate the smooth execution of the projects and programs of SAMI and its affiliates, besides supporting the localization of defense logistics.

Commenting on the agreement, Eng. Walid Abukhaled, CEO of SAMI, said: “We are delighted as the national defense champion to enter into an agreement with Bahri, the national shipping carrier, to meet our growing logistics requirements. The agreement demonstrates the Kingdom’s dynamic efforts to develop its military industries and logistics sectors. The shared objectives of SAMI and Bahri in relation to Vision 2030 will have a major impact on the synergies within the Kingdom’s defense ecosystem. Moreover, this achievement is consistent with PIF’s efforts through SAMI to build strategic partnerships.”

Eng. Abdullah Aldubaikhi, CEO of Bahri, said: “Bahri is proud to be contracted by SAMI and pleased to support their defense industry localization programs. We are honored that our contributions are aimed at ensuring Saudi Arabia’s security. Furthermore, this agreement reaffirms our commitment to strengthening leading Saudi entities operating in the public and private sectors by providing them world-class logistics services, in line with the Vision 2030 objectives that aim to transform the Kingdom into a global logistics hub and a thriving investment destination.”

Under the agreement, SAMI’s five business divisions, as well as its affiliates, including the Advanced Electronics Company (AEC), Aircraft Accessories and Components Company (AACC), SAMINavantia, SAMI L3Harris, and SAMI CMI, will be the beneficiaries of Bahri’s logistics services. Though the agreement presently covers the Saudi market, the two companies are working to expand its scope to include the global defense and logistics sector in the future.

Source: Saudi Press Agency

Ministry of Health: 569 New Confirmed Cases of COVID-19 Reported in Saudi Arabia

Riyadh, The Ministry of Health announced today that 569 new confirmed cases of Novel Coronavirus (COVID-19) have been reported in the Kingdom of Saudi Arabia; thus bringing the total number to 539,698 confirmed cases, including 6,502 active cases receiving necessary medical care. Of these, there are 1,295 critical cases, while the health condition of the rest is stable.

The Ministry of Health also announced that 704 new recoveries have been recorded, bringing the total recoveries to 524,765 cases. Also, 12 new deaths have been reported; bringing the total deaths to 8,431.

Source: Saudi Press Agency

UK Prime Minister Makes Phone Call to German Chancellor

London, British Prime Minister Boris Johnson made a phone call today to German Chancellor Angela Merkel to discuss the situation in Afghanistan.

During the phone conversation, they agreed on the need for global cooperation, both with regard to the urgent need to evacuate foreign nationals and others from Afghanistan and prevent any humanitarian crisis in the country and the region.

Source: Saudi Press Agency

Japan to Extend Virus Emergency to Sept. 12

Tokyo, Japan is set to decide on Tuesday to extend a COVID-19 state of emergency in Tokyo and five other prefectures through Sept. 12 and add seven more prefectures as the resurgence of infections increasingly puts a strain on hospital beds, Kyodo reported.

Minister in Charge of Japan's coronavirus response, Yasutoshi Nishimura, said the measures are needed to curb the number of new coronavirus cases as well as "ensure and strengthen medical care in each area."

The move comes with the highly contagious Delta variant of the novel coronavirus running rampant. The number of COVID-19 patients with serious symptoms hit 1,646 as of Monday, marking a record high for the fifth straight day, the health ministry said. They include people in intensive care units and those on respirators or life support.

A total of 14,854 new COVID-19 cases were reported Monday across the country, up around 2,700 from a week earlier, according to a tally based on local governments' data.

Source: Saudi Press Agency