黑料社区

2024 marks 黑料社区鈥檚 bold leap toward technological leadership

2024 marks 黑料社区鈥檚 bold leap toward technological leadership
黑料社区 is poised to continue shaping the future of technology, creating growth opportunities, and enhancing the quality of life for its citizens. Shutterstock
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Updated 31 December 2024

2024 marks 黑料社区鈥檚 bold leap toward technological leadership

2024 marks 黑料社区鈥檚 bold leap toward technological leadership
  • Kingdom launched ALLaM, a generative AI model tailored specifically for the Arabic language
  • Technology also played a critical role during the Hajj season

RIYADH: 黑料社区鈥檚 digital transformation journey reached new heights in 2024, solidifying its position as a global leader in technology and innovation.聽

Guided by Vision 2030, the Kingdom continued to reshape its economic and social landscapes through extensive digital initiatives spanning government, the private sector, and international partnerships. From advancements in artificial intelligence to significant strides in the digital economy, 黑料社区鈥檚 achievements over the past year set the stage for even bolder ambitions in 2025.

Revolutionary achievements

One of the standout accomplishments of 2024 was the consolidation of government data. The creation of a centralized data lake integrated 27 large systems with over 322 systems in the National Data Bank. This initiative not only enhanced the quality of national data but also automated data-sharing processes, fostering collaboration across entities and delivering substantial cost savings.

黑料社区 also launched ALLaM, a generative AI model tailored specifically for the Arabic language. Integrated into IBM鈥檚 Watsonx platform, ALLaM was recognized as the leading generative AI model for Arabic, as measured by the Arabic MMLU benchmark. This innovation underscored the Kingdom鈥檚 commitment to preserving its cultural and linguistic heritage while advancing global AI standards.

鈥満诹仙缜檚 digital transformation initiatives, driven by Vision 2030, have created a strong foundation for the Kingdom to emerge as a global leader in technology and innovation,鈥 said Louise Bou Rached, sales director for the Middle East, North Africa, and Turkiye region at Milestone Systems, in an interview with Arab News.聽




Louise Bou Rached, Sales Director, MENAT at Milestone Systems. Supplied

She continued: 鈥淭he strategic focus on AI, IoT (Internet of Things), 5G, and cloud infrastructure is enabling the development of smart cities, digital governance, and innovative industries.鈥

Bou Rached highlighted initiatives like NEOM and The Line, which combine cutting-edge technology with sustainability to redefine urban living and attract global attention. 鈥淭his transformation is enhancing the Kingdom鈥檚 international reputation and driving economic diversification, positioning 黑料社区 as a model for other nations aspiring to achieve technological leadership,鈥 she said.

A key element in this transformation has been the integration of advanced video management systems across smart city projects, improving security, efficiency, and data-driven decision making. 鈥淰MS technology ensures the seamless operation of urban environments and aligns with the Kingdom鈥檚 broader vision of fostering a secure and intelligent ecosystem,鈥 Bou Rached added.

Technology also played a critical role during the Hajj season, with advanced AI solutions ensuring the safety and well-being of millions of pilgrims. Smart platforms like Basier and Sawaher deployed over 400 AI-linked cameras across key locations, including tunnels and the Jamarat facility. These systems provided real-time crowd density analysis, enabling authorities to address emergencies efficiently. This initiative marked a significant leap in combining AI with large-scale event management.

鈥淧rojects involving smart cities, artificial intelligence, and renewable energy are shaping new industries and lifestyles in 黑料社区,鈥 said Arun Leslie John, the chief market analyst at Century Financial, in an interview with Arab News. Smart cities like NEOM, he noted, are redefining urban living with intelligent systems that optimize resource management, sustainability, and citizen engagement.

鈥淎I is reshaping industries, from health care to logistics, by enabling predictive analytics, automating processes, and improving efficiency,鈥 he added. John also pointed out that the implementation of Open RAN technology is 鈥渟eriously changing the scene of the country鈥檚 telecommunications sector, offering flexible and cost-efficient network infrastructure, essential for extending 5G and upcoming 6G networks.鈥澛

鈥淐ompanies specializing in such technologies can take advantage of the emergent demand for improved telecommunication solutions,鈥 John said.




Arun Leslie John, Chief Market Analyst at Century Financial. Supplied

AI discussions

黑料社区 reinforced its position as a global AI leader by hosting the third Global AI Summit, which brought together world leaders, researchers, and industry experts to discuss ethics, developments, and the future of AI. The event emphasized the Kingdom鈥檚 commitment to becoming a hub for AI innovation.

The country also launched the Open Access National Gateway, providing scientists and researchers access to more than 1,000 advanced laboratories. This initiative bolstered 黑料社区鈥檚 ability to attract top talent, foster innovation, and drive scientific breakthroughs across various fields.聽

The establishment of the National Semiconductor Hub marked a significant milestone in the Kingdom鈥檚 drive for technological independence. Launched in partnership with top institutions like King Abdullah University of Science and Technology, the hub supports multiple initiatives, including a joint master鈥檚 program with the University of California and Princess Nourah University. Over 850 professionals were trained to localize semiconductor technology, further cementing 黑料社区鈥檚 place in the global tech landscape.

鈥満诹仙缜檚 investment in space exploration is about exploring the cosmos and leveraging satellite technology to advance telecommunications, agriculture, and disaster management. These advancements are driving diversification away from oil dependency, creating a high-tech economy that attracts global investments and cultivates homegrown innovation,鈥 Bou Rached noted.

黑料社区鈥檚 digital transformation efforts received global recognition in 2024. The Kingdom achieved several milestones such as securing the second place among G20 countries in the ICT Development Index and sixth place globally in the UN E-Government Development Index, climbing 25 positions.

These achievements underscored 黑料社区鈥檚 progress in delivering efficient, accessible, and citizen-centric digital services.

In the space sector, 黑料社区 celebrated the graduation of 15 startups from the Space Tech Entrepreneurship Program, which offered financial support, training, and mentorship. This initiative attracted both domestic and international investments, highlighting the Kingdom鈥檚 growing influence in the space industry.

The Kingdom also secured over SR41 billion ($10.9 billion) in foreign and domestic investments in technology and data centers in 2024. These investments were complemented by enhancements to digital infrastructure, including efforts to localize emerging technologies and establish a thriving innovation ecosystem.

Notable initiatives included the Cloud First Policy, which prioritized cloud-based solutions across government entities and the expansion of 5G networks, positioning 黑料社区 among the top 10 countries globally for mobile Internet speeds.

In March, the Kingdom unveiled an updated Digital Transformation Index, designed to elevate public sector adherence to technological advancements. The revised standards, reduced from 125 to 96, aimed to improve the quality of e-government services in line with Vision 2030. More than 233 entities participated in workshops to refine methodologies, contributing to an 85.53 percent overall progress rate in digital transformation.

鈥業nto New Worlds鈥

Scheduled for February 2025 in Riyadh, LEAP 鈥 the Kingdom鈥檚 premier tech-focused conference and exhibition 鈥 will bring together 1,000 expert speakers, 680 startups, and over 215,000 global attendees. Under the theme 鈥淚nto New Worlds,鈥 the event will explore cutting-edge technologies and their practical applications. The 2024 edition of LEAP surpassed previous ones, with agreements worth more than $12 billion being signed.

Greater achievements on the horizon

黑料社区鈥檚 roadmap for 2025 builds on the transformative momentum of 2024, with ambitious plans designed to further elevate the Kingdom鈥檚 global standing in technology and innovation. In AI and data advancements, efforts will focus on increasing the number of datasets in the National Data Bank to improve accessibility and foster greater collaboration.

The adoption of AI across government entities will be further strengthened to stimulate innovation and improve service delivery. Expanding the scope of the National Smart Cities Platform will be a key priority, with an emphasis on security, safety, and sustainability, while introducing new use cases to enhance quality of life and environmental conservation.

In space exploration, 黑料社区 plans to manufacture and launch a satellite dedicated to investigating space weather as part of the Artemis 2 mission to the moon. Economically, the Kingdom aims to bolster the ICT sector鈥檚 contribution to its gross domestic product by introducing two additional multibillion-dollar companies, bringing the total number of such companies to eight.

As 2025 unfolds, 黑料社区 is poised to continue shaping the future of technology, creating growth opportunities, and enhancing the quality of life for its citizens. By building on its 2024 achievements, the Kingdom is well-positioned to realize its Vision 2030 goals and establish itself as a global leader in the digital era.


Saudi, Japan to develop digital medicine strategies

Saudi, Japan to develop digital medicine strategies
Updated 10 October 2025

Saudi, Japan to develop digital medicine strategies

Saudi, Japan to develop digital medicine strategies
  • Pact includes AI diagnostics, training, device development, and education platforms

TOKYO: Tokyo-based Medident has signed an agreement with 黑料社区 institutions to link Japan鈥檚 medical digital transformation strategy with the Kingdom鈥檚 Vision 2030 plan.

The pact was inked at the Japan-Saudi EXPO Investment Forum, the company announced on Sept. 24.

The agreement covers areas including artificial intelligence diagnostics, surgical training, medical device development, and healthcare-education platforms.

Medident also plans to speed up clinical and educational adoption of its 3D Clone Model, a training tool that combines virtual reality with tactile simulation based on various types of medical scans.

鈥淥ur initiatives are gaining recognition both academically and at the policy level,鈥 Medident CEO Daisuke Tomita said.

鈥淏y connecting Japan鈥檚 strengths in digital healthcare with 黑料社区鈥檚 reform agenda, we will build new frameworks for international co-creation.鈥

The deal was signed on stage at the Saudi-Japan EXPO Investment Forum with Dr. Noor A. Al-Saadoon, director of health innovation at the Biotech Center at Al-Faisal University, and Dr. Mohammed Al-Hayaza, president of Al-Faisal University.

Also in attendance were Khalid A. Al-Falih, minister of investment; KOGA Yuichiro Koga, state minister of economy, trade, and Industry; and Yumiko Tomita, director of the Japan Oral Health Association.

Medident is a part of the Mirise Medical Group, which operates clinics in Tokyo鈥檚 upmarket Minami-Aoyama and Ginza districts, focusing on orthodontics, oral health, and regenerative therapies.


Damascus-Amman train link could be completed by 2026 as historic Hijaz railway restoration plan gains steam

Damascus-Amman train link could be completed by 2026 as historic Hijaz railway restoration plan gains steam
Updated 10 October 2025

Damascus-Amman train link could be completed by 2026 as historic Hijaz railway restoration plan gains steam

Damascus-Amman train link could be completed by 2026 as historic Hijaz railway restoration plan gains steam
  • Under the agreement, Turkiye will support Syria with reconstruction efforts, while Jordan will provide locomotive maintenance
  • A Jordanian official said if plans go ahead passengers could expect to board trains from late next year

DUBAI: Passengers traveling between Amman and Damascus could be taking the train as early as the end of 2026, with both countries determined to restore a historic rail link that once connected the Levant with the holy cities of Madinah and Makkah.

A high-level meeting in Amman last month saw Jordan, Syria, and Turkiye agree to work together on reviving the historic railway.

Under the agreement, Turkiye will support Syria with reconstruction efforts, while Jordan will provide locomotive maintenance.

Although details regarding timelines remain limited, Zahi Khalil, director-general and deputy chairman of the Jordan Hijaz Railway at the Jordanian Ministry of Transport, said plans are well underway and could allow passenger services between the two capitals as soon as next year.

鈥淭urkiye agreed in September to support the repair of the railway section between Damascus and the Jordanian border. They will completely restore it,鈥 Khalil told Arab News on the sidelines of the Global Rail Conference in Abu Dhabi last week.

鈥淩egarding the connection process 鈥 the link between Damascus and Amman 鈥 it could be ready by the end of next year, 2026. So possibly in the last quarter of next year, we鈥檒l have the first passenger trip between Amman and Damascus.鈥

Khalil said the initial phase of the project will focus on passenger transport, but there are also plans to upgrade the route for freight trains within the next three to five years. This, however, will require significant infrastructure upgrades to handle heavier loads.

Historically, the Hijaz Railway was part of the Ottoman rail network and served as a major link between Damascus and Makkah, reducing a journey that once took 40 days to just five. Seen by the sultan at the time as a symbol of Islamic unity and progress, the railway holds deep historical and cultural significance across the region.

Khalil explained that much of the historic track would be rehabilitated, upgraded for modern trains, and reused, with large sections of the original route still intact. He believes the revived line will function not only as a vital transport connection but also as a heritage attraction in its own right.

鈥淭rains are one of the greatest and easiest means of connection between countries; they carry large numbers of people and encourage tourism both within Jordan and between Jordan and neighboring countries,鈥 he said.

鈥淔or example, on the old Hijaz Railway, we already have daily tourist trips in the historic Wadi Rum area, but only there. When the line connects to other regions, it will bring tourists from neighboring countries and other Jordanian cities.鈥

The original Hijaz Railway was intended to extend all the way to Istanbul, connecting the Ottoman capital with Makkah. However, the project was never completed due to the First World War and the subsequent fall of the Ottoman Empire.

With Turkiye now deeply involved in Syria鈥檚 reconstruction, Khalil believes there is renewed potential to realize the railway鈥檚 original scale. He noted that work is already underway to rehabilitate lines between Damascus and Aleppo, with plans to extend the tracks to the Turkish-Syrian border.

鈥淥nce Syria is linked to the Turkish rail lines, Amman will be connected all the way to Istanbul,鈥 he said.

Looking ahead, Khalil added that there are also plans to link Amman with future railway projects in 黑料社区 and the Gulf Cooperation Council, ultimately realizing the full vision of the historic Hijaz Railway.


黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽

黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽
Updated 10 October 2025

黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽

黑料社区 to sustain 4.5%鈥5.5% non-oil growth over next decade: Moody鈥檚聽

RIYADH: 黑料社区 is on course to sustain non-oil sector annual growth of 4.5 percent to 5.5 percent through the next five to 10 years as its Vision 2030 diversification program gathers pace, Moody鈥檚 have forecast. 

The rating agency cited strong momentum from services, tourism, and a pipeline of mega events including the 2027 AFC Asian Cup, the 2030 World Expo, and the 2034 FIFA World Cup, all of which are expected to reinforce the Kingdom鈥檚 non-oil expansion and attract sustained private investment.  

Other rating agencies and consultancies share a similar outlook. Fitch Ratings expects 黑料社区鈥檚 non-oil growth to average around 4.5 percent through the medium term, while BMI and Strategic Gears forecast continued expansion in tourism and exports, reflecting broad confidence in the Kingdom鈥檚 Vision 2030 diversification momentum. 

This comes on the back of 黑料社区鈥檚 latest estimate, released on Sept. 30, in which the Ministry of Finance forecast real gross domestic product growth of 4.6 percent in 2026, supported by continued expansion in non-oil activities. 

The ministry鈥檚 pre-budget statement set the 2025 projection at 4.4 percent, driven by a 5 percent increase in non-oil output, underpinned by robust domestic demand, rising employment, and expanding private-sector investment. 

In its latest report, Moody鈥檚 stated: 鈥淣on-oil economic growth, particularly in the services sector, will remain robust as the large-scale projects are implemented and gradually commercialize.鈥 

The agency cautioned that progress on some flagship projects is uneven amid supply bottlenecks, engineering challenges and tighter funding conditions.  

Moody鈥檚 expects authorities to keep diversification outlays relatively high even as oil prices soften, leading to 鈥渕oderate fiscal deficits鈥 and a rise in government debt to more than 36 percent of GDP by 2030 from about 26 percent at end-2024. 

In a separate report on the banking system, Moody鈥檚 said strong credit demand linked to Vision 2030 projects and mortgages has outpaced deposit growth, pushing the sector鈥檚 loan-to-deposit ratio above 100 percent for the first time since 2021 and sustaining reliance on alternative funding.  

鈥淲hile domestic deposits are increasing, mainly supported by inflows from government entities and large companies, credit demand continues to grow at a faster pace,鈥 said the agency.

It noted that Saudi banks have diversified into capital-market issuance and syndicated loans; total bank issuance reached SR56 billion ($14.93 billion) in 2024, up from SR21 billion in 2023, with similar levels expected this year before easing as loan and deposit growth re-align. 

The report added that the Saudi Central Bank has moved to bolster resilience, introducing a 100-basis-point countercyclical capital buffer effective in 2026 and monitoring foreign-currency liquidity and stable-funding ratios 鈥 steps that could moderate loan growth at some institutions.  

Moody鈥檚 also highlighted the role of the Saudi Real Estate Refinance Co. in easing liquidity pressures, with SRC鈥檚 acquired portfolio rising to about 4 percent of the mortgage market and the launch of the Kingdom鈥檚 first residential mortgage-backed security in August, initially for local investors.  

Market funding brings its own risks, Moody鈥檚 said, pointing to a near-doubling of foreign funding as a share of liabilities since 2020 and the banking system鈥檚 net foreign-asset position turning negative in 2024.  

While the agency sees a loss of confidence as unlikely over the next 12 to 18 months, it warned that an abrupt shift could pressure renewals; measured diversification by tenor and geography would help mitigate that risk.  

Another new report by Moody鈥檚 on nonfinancial companies revealed that investment and reforms are lifting multiple non-oil sectors 鈥 hospitality and retail, manufacturing, mining and real estate among them 鈥 even as borrowing needs rise and credit outcomes diverge.  

Moody鈥檚 estimates that cumulative private-sector investments of close to SR8 trillion will be needed by 2030 to sustain growth, with the Public Investment Fund remaining central to catalyzing co-investment.  

PIF鈥檚 direct role is set to remain substantial. Moody鈥檚 projects up to SR1 trillion of PIF investment by 2030 鈥 on top of about SR642 billion over the past five years 鈥 while around SR7 trillion from other private participants will be required to maintain non-oil momentum.  

The scale and complexity of projects such as Neom introduce execution risk, but phased investment and tighter oversight should support delivery.  

Utilities will carry some of the heaviest capital burdens as the energy mix targets a 50/50 split between renewables and gas by 2030. 

Moody鈥檚 estimates at least SR750 billion of sector investment across 2019 to 2030, with the National Renewable Energy Program having launched roughly SR440 billion of projects since 2019. The Ministry of Energy plans to tender about 130 gigawatts of renewable capacity by 2030.  

As of mid-2025, renewables accounted for around 9 GW 鈥 about 10 percent of total generation capacity.  

Saudi Electricity Co., the sole transmitter and distributor, is accelerating grid expansion and interconnections and expects its regulated asset base to grow with elevated capital spending 鈥 rising from an average SR29.4 billion per year since 2019 to about SR50 billion to SR55 billion annually in 2025-30.  

Higher investment needs will strain free cash flow and liquidity, though a supportive regulatory framework and increased indirect subsidies 鈥 SR10.8 billion in 2024, or 12 percent of revenue 鈥 provide offsets.  

Across capital markets, Moody鈥檚 expects more Saudi corporates to tap equity and debt as regulatory upgrades broaden participation, with national champions and private companies aiming to balance expansion with prudent leverage.  

That trend, it said, should gradually deepen the domestic market, diversify funding sources and support a more resilient financing ecosystem. 


Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov

Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov
Updated 09 October 2025

Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov

Saudia, Alrajhi Bank, Albaik lead 黑料社区鈥檚 most 鈥榩ersuasive鈥 brands: YouGov

RIYADH: Saudia, Alrajhi Bank, and Albaik are the top three most persuasive brands in 黑料社区 when it comes to getting people to buy their products, according to a new survey. 

A report from market research and data analytics firm YouGov analyzed shopping attitudes in the Kingdom and compiled a list of companies leading in convincing consumers to spend on their brands. 

The analysis found that retail banks, beauty firms, and telecoms and handset providers are the most successful at converting people who would consider buying their products into those who intend to do so.  

According to the report, Saudia topped all brands across every category, with 72 percent of respondents intending to use the airline once it was considered as an option. 

Alrajhi Bank came second with a conversion rate of 70 percent, followed by Albaik at 65 percent, Almarai at 65 percent, and Apple at 62 percent.  

Toyota followed with a conversion rate of 55 percent, while Samsung and Hilton recorded conversion rates of 49 percent and 47 percent, respectively, once customers began considering their products. 

The survey also found that Huda Beauty has a conversion rate of 45 percent, followed by Dior Beauty at 43 percent. 

Category breakdown  

Among non-carbonated beverage brands, Almarai secured the top spot among Saudi buyers, followed by Saudia, Nadec, Lipton Ice Tea, and Nova. 

Almarai鈥檚 top position comes just months after the company signed an agreement to acquire Pure Beverages Industry Co. for SR1.04 billion ($277 million), aiming to diversify its offerings and strengthen its market position. 

Pure Beverages Industry Co. is a bottled drinking water producer in the Kingdom, known for its 鈥淚val鈥 and 鈥淥ska鈥 brands. 

In the retail banking category, Alrajhi Bank is the most successful at converting customers considering its services into those who intend to use them. 

Alrajhi Bank is followed by Saudi Awwal Bank, Saudi National Bank, Alinma Bank, and Riyad Bank. 

In September, Alrajhi Bank earned an 鈥淎A鈥 rating from MSCI鈥檚 global environmental, social, and governance benchmark, becoming the only financial institution in 黑料社区 to achieve this distinction. 

The recognition also placed the financial institution among the top five banks worldwide with an 鈥淎A鈥 or higher ESG rating, underscoring its leadership in sustainable practices.  

Among beauty brands, Huda Beauty garnered the top spot for conversions, while Dior Beauty, Mac Beauty, Chanel Beauty, and Makeup Forever Beauty made up the remaining popular companies in the segment. 

With a conversion rate of 38 percent, Amazon was named the most persuasive retailer in the Kingdom, followed by Al Othaim, Panda, Lulu Hypermarket, and Shein.  

Apple topped the list among consumer electronics and appliances brands, with Samsung, Huawei, LG and PlayStation grabbing the remaining slots in the top five list.  

Albaik was named the most persuasive brand in the dining, restaurants and eateries category. Other entrants in the list include Hungerstation, McDonald鈥檚, Al Tazaj, and KFC.  

According to YouGov, Toyota is the most persuasive vehicle brand among Saudi customers, followed by Mercedes-Benz, Land Rover, Lexus, and BMW.  

Among hotels and resorts, Hilton topped the list, while the remaining entrants included InterContinental, Movenpick, Hyatt, and Ritz-Carlton.  

Saudia was named the most persuasive travel and airline brand among Saudi customers, followed by Egypt Air, flynas, Emirates, and Almosafer.  

Affinity toward home-made brands 

According to the YouGov survey, six out of 10 residents in 黑料社区 prefer to buy products made in their home country.  

The report revealed that 63 percent of the survey participants aged above 55 prefer products made in 黑料社区.  

Among people aged from 18 to 24, 58 percent prefer buying homemade products, and this figure rises to 60 percent among people between the ages of 25 and 34, and 61 percent among 35- to 44-year-olds.  

The report further said that 58 percent of the participants between the ages of 45 to 54 prefer buying products made in the Kingdom. 


Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽

Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽
Updated 09 October 2025

Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽

Closing Bell:聽Saudi stock market聽ends week in green with 11,583 points聽

RIYADH: 黑料社区鈥檚 Tadawul All Share Index closed higher on Thursday, rising 24.04 points, or 0.21 percent, to end at 11,583.31. 

The total trading turnover for the main index stood at SR4.70 billion ($1.24 billion), with 254.9 million shares changing hands. A total of 119 stocks advanced, while 127 declined. 

The MT30 index, which tracks the performance of the top 30 companies by market capitalization, edged up 2.13 points, or 0.14 percent, to 1,509.75. The Nomu parallel market also climbed 112.17 points, or 0.44 percent, to close at 25,805.42, with 47 gainers and 37 losers. 

Saudi Automotive Services Co. was the session鈥檚 top performer, surging 9.96 percent to SR65.15. 

It was followed by Aldrees Petroleum and Transport Services Co., which gained 6.93 percent to SR142, and Riyadh Cables Group Co., which rose 5.48 percent to SR136.60. 

Other notable gainers included Dallah Healthcare Co., advancing 3.24 percent to SR153, and Liva Insurance Co., which added 2.90 percent to SR13.50. 

On the losing side, Gas Arabian Services Co. fell 4.02 percent to SR16.24, while Methanol Chemicals Co. dropped 3.08 percent to SR10.39. 

Halwani Bros. Co. declined 2.23 percent to SR39.54, followed by Batic Investments and Logistics Co., which slipped 2.16 percent to SR2.27, and National Metal Manufacturing and Casting Co., down 1.93 percent at SR17.30. 

On the announcement front, Rabigh Refining and Petrochemical Co. announced the resignation of two board members, including Noriki Takanishi, vice chairman of the board, and Tetsuo Takahashi, a member of the Audit Committee. 

The company said the resignations are linked to the recent completion of Saudi Aramco鈥檚 acquisition of Sumitomo鈥檚 22.58 percent stake in Petro Rabigh, following a share sale transaction between Saudi Aramco and Sumitomo Chemical Co. Ltd. 

The board also approved the appointment of Abdullah Al-Suwehfer and Hamad Al-Daghther as new non-executive members, pending ratification by the general assembly. Shares of Petro Rabigh closed 2.47 percent higher at SR7.90.