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Wednesday, November 25, 2009  | 
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BREAKING NEWS | Kuwaiti accused of fire case to see shrinks
EUR | GBP Up 1.109 ,  USD | EUR Down 0.667 ,  USD | GBP Down 0.602

Petchems, banks lead Saudi bourse down

Petrochemical and banking stocks led the Saudi bourse's benchmark to a lower close on Saturday after rising over the previous three sessions.

The all-share index closed 2.35 percent at 5,467 points, its lowest close since April 27.

Largest-listed Saudi Basic Industries Corp (SABIC) ended 6.4 percent lower at 58.5 riyals ($15.60), its lowest in two months.

Alinma Bank led trade before closing 1.1 percent down at 13.05 riyals. The lender announced earlier in the day the launch of its banking services.

Shares in Qassim Cement Co closes up by nearly the 10 percent limit at 128 riyals, their highest since Sept. 3, 2008.

The company plans to offer shareholders one bonus share for each existing one in a bonus capital hike.


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Reuters
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GCC can price oil in new currency -economist
11/23/2009 10:04:10 AM
1 | |
Saeed Al Shaikh is absolutely correct. There is a very strong precedent for what he proposes. Oil is a large part of the reason the U.S. dollar became the world's reserve currency at the end... MORE
Oil rises above $79, eyes product demand
11/19/2009 1:13:31 AM
2 | |
Oil rose after the US Dollar fell against a group of six top currencies in Forex Trading Online, following a decision by the “G20” a group of 20 governments from different main countries in... MORE
Oil rises above $79, eyes product demand
11/18/2009 2:29:40 AM
2 | |
Oil rose after the US Dollar fell against a group of six top currencies in Forex Trading Online, following a decision by the “G20” a group of 20 governments from different main countries in... MORE