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FinancialNews
02-01-23
Saudi Arabia’s share market starts new year on green side
(MENAFN) Saudi Arabia’s share market surged on Sunday, beginning the new year on the green side along with the nation’s financial estimate, whereas area’s additional main markets were ended and several stockholders absent due to of year-end holidays.
Previously last month a news agency mentioned in a report that Saudi Arabia projects to record a second budget surplus in a row in the new year.
The nation accepted a SR1.114 trillion riyal (USD296.39 billion) budget for 2023, estimating an exceed at 0.4 percent of gross domestic output.
Saudi Arabia’s main index surged 0.7 percent, with oil behemoth and index heavyweight Saudi Aramco rising 0.9 percent as well as Sulaiman Al-Habib Medical Services rising 1 percent.
In Oman, the share index earned 0.8 percent as Aluminium Bahrain (Alba) rose by 3.8 percent whereas Bahrain Telecommunications (Batelco) was 3.2 percent higher.
Individually, Oman’s Sultan approved a 2023 budget with a shortage of 1.3 billion Omani rials (USD3.38 billion) or 3 percent of GDP, the Finance Ministry mentioned on Sunday.
MENAFN02012023000045014228ID1105373215
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