The main Saudi market, TASI, declined in early trading, on Sunday, after it opened at 9,909 points. Its decline deepened two hours later to 9,836 points, losing 84 points, equivalent to 0.85 percent.
The decline comes after the index ended last Thursday's trading with a decline of 1 percent at 9,922 points, despite its weekly gains of 2.4 percent, to return in Sunday's trading, below the level of 9,900 points.
“Elm” topped the list of stocks with the highest rise, with a rise of 7.93 percent to 605.50 riyals, while “Pharmaceutical” recorded the largest declines by 9.74 percent to 24.75 riyals, followed by “Saudi Restore” with a decrease of 8.98 percent to 23.83 riyals, then “Al-Lujain” with a decline of 8.21 percent to 23.70 riyals.
In terms of leading stocks, “Saudi Aramco” fell by 0.23 percent to 25.86 riyals, while most banking stocks recorded declines of less than 1 percent, with the exception of “Al-Ahli Saudi,” which rose 0.56 percent to 36.10 riyals, and “Alawwal,” which rose 0.25 percent to 31.66 riyals.
The net profit of the Saudi Reinsurance Company “Saudi Re” increased by 5.9 percent during the third quarter of 2026, to reach 32.6 million riyals ($8.6 million), compared to 30.7 million riyals ($8.2 million) in the same period last year.
On a quarterly basis, the company's net profits declined by 71.6 percent, compared to the second quarter of the current year, during which it recorded profits amounting to 114 million riyals ($30.6 million).
The company explained, in a statement on the Saudi Stock Exchange “Tadawul” website, that the growth in profits on an annual basis is mainly due to an increase in reinsurance revenues by 77 percent, a decrease in other operating expenses by 54 percent, in addition to a decline in net insurance financing expenses by 19 percent.
Insurance revenues during the third quarter recorded 813 million riyals ($216 million), an increase of 77 percent year-on-year.
The Central Bank of Iraq confirmed that there is no financial liquidity crisis in the country, announcing the imminent arrival of a new shipment of cash dollars from the United States within one to two weeks, as part of upcoming shipments with a total value exceeding one billion dollars, at a time when it revealed that its foreign currency reserves had risen to about 81 billion dollars.
Advisor to the Governor of the Central Bank of Iraq and spokesman for the bank, Mahmoud Dagher, told the Rudaw media network on Sunday that a new shipment of dollars will arrive in Iraq within a period between one and two weeks, explaining that the bank has completed its preparations and made the necessary transfers via the SWIFT system, and that the value of the upcoming shipments will exceed one billion dollars.
Regarding allowing the sale of the dollar at the official price to travelers through the Kurdistan Region’s airports, Dagher explained that the Central Bank allows each traveler to buy two thousand dollars at the official rate, up to 6 times annually, but implementing this mechanism through the region’s airports requires completing administrative and technical arrangements with the relevant authorities.
He added that the bank will follow up on the issue and will issue a final decision regarding it within the next two days.
Evaluating banks that are deprived of dealing in dollars
Regarding the possibility of issuing new directives from the US Treasury Department regarding Iraqi banks that are prohibited from dealing in dollars, Dagher said that the Central Bank has not yet received any new instructions in this regard.
He explained that the bank is awaiting the results of the report prepared by Oliver Wyman regarding the steps and reforms implemented by these banks, indicating that the US Treasury will determine its next steps based on the results of this evaluation.
Regarding the delay in sending the budget schedules to the House of Representatives, Dagher attributed this to the creation of 3 new ministries in the government, which required re-determining their financial allocations, including employee salaries and operational and investment expenses.
He said that these changes led to amending the draft law and delaying its sending to Parliament somewhat, stressing at the same time that employees’ salaries for next year are “fully insured.”
Internal debt amounts to 117 trillion dinars
Dagher revealed that the internal public debt owed by the government amounts to 117 trillion dinars (about 77 billion dollars), compared to about 10 trillion dinars (6.6 billion dollars) of external debt, according to the latest figures registered with the Central Bank.
He denied the existence of any crisis or shortage of financial liquidity, stressing the increase in the bank’s foreign currency reserves, which reached about 81 billion dollars, driven by the arrival of October’s revenues.
