Browse
related articles
Saudi bourse jumps after King appears on television, telecoms surge
- Saudi Arabia: Saturday, December 01 - 2012 at 19:13
The Tadawul All-Share Index posted the largest gain in one month, closing up 2.37% at 6,688.18 points Saturday, after Saudi Arabia's King Abdullah appeared on TV last Thursday in order to end speculations about his health. The news report showed him sitting while receiving well-wishers. Rumors about the monarch's health, who had back surgery on November 17, culminated earlier last week, when Iranian news channel Press TV said the Custodian of the Two Holy Mosques "fell into a coma". That triggered an immediate statement of denial by Saudi Crown Prince Salman. In Riyadh, a whopping 149 shares out of 155 traded securities advanced while 4 declined. Telco company Etihad Etisalat or Mobily surged 5.19% to hit SR76. Earlier in the day, Mobily said in a statement to the Tadawul market that through its subsidiary Bayanat Al-Oula it extended a cooperation with Etihad Atheeb Telecom (known as GO, up 3.64% at SR11.40) in the area of integration of services. The MOU is valid for 90 days. Last week, the Saudi Telecom operator suspended the sale of Mobily prepaid SIM cards and urged the kingdom's second telecom firm "to fully meet the requirements" for selling pay-as-you-go services. Since September 28 this year, mobile phone customers in Saudi Arabia have to register with a personal identification number in order to obtain a prepaid SIM card.
Related Content
Article Options
Gérard Al-Fil, Financial JournalistSaturday, December 01 - 2012 at 19:13 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
