Saudi market falls below 7,000 points
- Saudi Arabia: Tuesday, February 26 - 2013 at 17:42
The Tadawul Al-Share Index declined by 0.77% Tuesday, closing at 6,988.19 points. Al Alamiya for Cooperative Insurance Co. gained the most (up 6.40% at QR79). Sabic fell 1.35% to SR91.50. Saudi Hotels & Resort Areas Co. dived 2.21% to close at SR26.60. Earlier in the day, the tourism and hospitality firm that it has awarded on Feb. 25 the contract of finishing works of Future Homes villas project phase II in the Diplomatic Quarter Riyadh to Al Hashimyia contracting Co. The cost of the contract will be SR41.5m for 27 residential villas with execution period of 8 months, the contractor already started the work. It is expected that the project will enhance the companys revenue from the beginning of 2014.
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