Category: Market

Unionized rail workers went on a four-day general strike Thursday, their first collective action in about four years, which is expected to reduce passenger and freight train services by up to 60%.

The Korean Railway Workers’ Union demand better working conditions and an expansion of KTX high-speed train services to include a lucrative station in southern Seoul.

The national railway operator, plans to reduce the operations of passenger trains, including the high-speed KTX service, and cargo trains by 20-60 % in the wake of the strike.

The union is also demanding better working conditions, such as the full implementation of the four-team two-shift system that the company has agreed to introduce to ensure that rail workers do not work the night shift for two days in a row.

On Wednesday, Labor Minister Lee Jeong-sik urged unionized rail workers to cancel their plan to stage a general strike, citing its grave impact on the economy and the people’s daily lives.

Source: Qatar News Agency

Bahrain All Share Index has closed at 1,929.75 points marking a decrease of 4.70 points below the previous closing.

This decrease was due to the drop in the Consumer Discretionary Sector and Financial Sector.

Bahrain Islamic Index has closed at 725.40 points marking a decrease of 0.30 points below the previous closing.

Results indicated that 37 equity transactions took place with a volume of 1,079,217 worth BD 809,289.

Investors traded mainly in the Material Sector representing 84.33% of the total value of securities traded.

Source: Bahrain News Agency

The Saudi Stock Exchange main index ended trading lower today, losing 78.88 points to close at 11156.26 points.

The total value of trading reported was SAR6 billion, while the total number of shares traded was 233 million.

The Saudi Parallel Market Index (NOMU) ended the day by losing 191.29 points to close at 22365.59 points, with a valuation of SAR67.5 million.

Source: Bahrain News Agency

Abdullah bin Adel Fakhro, Minister of Industry and Commerce, received Shaheen Abdullayev, Azerbaijani Ambassador to Bahrain residing in Riyadh.

The meeting discussed bilateral ties and ways to strengthen cooperation between the two countries.

The two sides praised the progress of joint relations.

They reviewed the most important advantages and possibilities of the investment environment in Bahrain and the facilities provided by the government to investors from all over the world, making it a preferred destination for many global projects, in addition to the continuous updates of laws and legislation protecting investments.

Source: Bahrain News Agency

Bahrain All Share Index closed at 1,934.44 points, marking a decrease of 4.58 points below the previous closing.

This decrease was due to the drop in the communication service sector, consumer discretionary sector and financial sector.

Bahrain Islamic Index closed at 725.70 points, marking a decrease of 7.65 points below the previous closing.

Results indicated that 56 equity transactions took place with a volume of 1,764,455 worth BD 532,513.

Investors traded mainly in the material sector representing 61.6%7 of the total value of securities traded.

Source: Bahrain News Agency

Umm Al Qura for Development and Construction, the owner and developer of Masar Destination, has revealed an acquisition agreement with Scope Properties for the construction of residential towers in collaboration with international operators, involving investments of up to SAR 900 million.

This announcement was made during their participation in the Cityscape Global Exhibition, where they represented Masar Destination as a partner. The total investments drawn to date for Masar Destination have now reached SAR 40 billion.

This strategic move is aimed at bolstering and advancing the accommodation and hospitality sectors in Makkah, with the ultimate goal of significantly enhancing the experience of pilgrims and Umrah performers in this holy city.

Source: Saudi Press Agency