The Tadawul All Share Index closed 0.12 per cent higher at 9,354.55 points on Tuesday, March 11. The world’s biggest petrochemical firm SABIC closed unchanged at SAR116. Saudi Arabia Refineries Co (SARCO) gained the most, finishing 9.77 per cent higher at SAR70.25.
Dr George T. Abed, senior counsellor and director of the Mea region at Washington-based Institute of International Finance (IIF), says, in Dubai, he did not expect the diplomatic dispute between Qatar and Saudi Arabia, on one hand, and the UAE and Bahrain, on the other hand, to affect economic and trade relations between the four countries. Saudi Arabia, the UAE and Bahrain withdrew their ambassadors earlier this month from Doha in order to protest against a cleric’s criticism on the UAE, because of their tough stance against the Muslim Brotherhood party in Egypt.