Care International Company received a notification from the Saudi Stock Exchange regarding a drop in the average closing price of its shares below the minimum required, in accordance with Article Thirty-Three of the Listing Rules, giving it a period of 3 months to correct its situation, starting on Tuesday, October 27, 2026.
The company explained, in a statement published on the Saudi Stock Exchange (Tadawul) website on Tuesday, that it intends to merge its shares in a way that achieves a closing price of no less than 3 riyals per share, by presenting the Board of Directors’ recommendation to the extraordinary general assembly for a vote, unless the closing price of the share rises to 3 riyals or more within the specified period.
It indicated that the merger process will lead to a decrease in the total number of shares and an increase in the share price in proportion to the merger percentage, without any change in the company’s capital.
The company warned that failure to comply with the requirements of the listing rules may lead to the suspension of trading in its shares, while allowing them to be traded outside the platform, in accordance with the relevant rules.
Care International affirmed its commitment to taking the necessary measures to address the situation and comply with market requirements, indicating that it will disclose any fundamental developments as soon as they occur.
Fatih Birol, Executive Director of the International Energy Agency, said on Tuesday that the concentration of clean energy supply chains in the hands of a small number of countries represents an emerging challenge for Southeast Asian countries, in light of the rapidly increasing demand for energy in the region.
He told the delegates participating in the “Singapore International Energy Week” conference: “The era of electricity is coming. “We will continue to use oil, and we will continue to use natural gas, including liquefied natural gas, but the demand for electricity is growing very strongly.”
Birol did not specify which countries dominate clean energy supplies, but China is the world's largest supplier of renewable energy equipment, from solar panels to wind turbines, electric vehicles and batteries.
He said that electricity demand in the Association of Southeast Asian Nations (ASEAN) countries is rising at a rate twice as high as total energy consumption, driven by the electrification of industries, air conditioning needs, electric vehicles, and data centers.
Southeast Asian countries have emerged as a major driving force for China's clean energy export boom. It has spent more than $20 billion on Chinese-made clean technology products from the beginning of 2026 until now, according to the Ember Energy Research Center.
Birol warned that geopolitical tensions are becoming an increasingly dominant factor in global energy markets.
He said that the war in the Middle East brought about fundamental changes in global energy consumption patterns, which stimulated growth in the field of electricity generation from solar, coal and nuclear energy, as well as the spread of electric cars.
According to Birol, consumption of alternative energy sources has increased as diesel prices have jumped by about 200 percent, and liquefied natural gas prices have risen by 250 percent from pre-war levels.
On Monday at the same conference, Birol said that he does not expect energy markets to return to what they were before the start of the US-Israeli war on Iran in 2027.
The head of the Saudi General Authority of Civil Aviation, Abdulaziz Al-Duailej, stressed the importance of strengthening cooperation between Middle Eastern countries to confront the challenges facing the aviation sector, noting that passenger traffic in the region declined by 20 percent during the period from January to August 2026, compared to the same period of the previous year.
The Chairman of the Authority explained, during the eighth meeting of Directors-General of Civil Aviation in the Middle East region, held in Qatar, that the available seat capacity decreased by more than 16 percent during the same period, according to data from the International Air Transport Association (IATA), in light of the regional developments that cast a shadow on the aviation sector, and affected air transport movement, demand levels, and the operational capacity of carriers.
He stressed the importance of enhancing coordination and cooperation between countries of the region, exchanging operational information, and raising the readiness of emergency plans and business continuity, in a way that supports air traffic safety and enhances the sector’s flexibility and ability to deal with crises and limit their effects.
He pointed out that Saudi Arabia dealt with the exceptional circumstances by activating the approved plans, taking advantage of the diversity and integration of its transportation modes, by providing alternative transportation routes and multiple options for travellers, with the support of the Saudi leadership.
He stressed that the future of civil aviation requires greater integration and joint work between countries and regional organizations, ensuring the highest levels of safety and sustainability are maintained in the region and the world.
