Saudi Market Recap (3.10-3.13)

The Weekly Saudi Market Review highlights key financial developments: the TASI rose by 1.15% to a new high since June 2022. Saudi Arabia's Q4 GDP shrank by 4.3%, primarily due to a significant drop in oil activity, resulting in an overall GDP decline of 0.8% for 2023. The Public Investment Fund (PIF) now ranks 5th globally among sovereign wealth funds, with assets nearing $1 trillion after acquiring an 8% stake in Saudi Aramco. Corporate news includes Saudi Aramco's $121.3 billion net income for 2023, marking its second-highest ever, and significant profit increases reported by Saudi Chemical, ELM Co, Electrical Industries, and First Milling Co. The upcoming week focuses on earnings reports from CHUBB Arabia, Saudi Ground Services Co, Dar Al Arkan, and CATRION Catering Holding.

The Information presented above is for education purposes only, which shall not be intended as and does not constitute an offer to sell or solicitation for an offer to buy any securities or financial instrument or any advice or recommendation with respect to such securities or other financial instruments or investments. When deciding about your investments, you should seek the advice of a professional financial adviser and carefully consider whether such investments are suitable for you in light of your own experience, financial position, and investment objectives.
In no event shall Sahm Capital Financial Company be liable for any damages, losses or liabilities including without limitation, direct or indirect, special, incidental, consequential damages, losses, or liabilities, in connection with your reliance on or use or inability to use the information presented above, even if you advise us of the possibility of such damages, losses or expenses.