Crimea dispute felt at Riyadh bourse
The Tadawul All Share Index closed 0.12 per cent lower at 9,368.03 points on Monday, March 17, after the EU and the US threatened sanctions against Russia after the people of Crimea overwhelmingly voted in favour of joining the Russian Federation on Sunday, March 16. Market’s bellwether SABIC closed unchanged at SAR116. Saudi Cement Company gained 0.44 per cent to SAR114.50. Earlier in the day, the firm said its board of directors decided to permanently stop operating kilns 1, 2 and 3 in a plant based in Hofuf, with total daily capacity of 1,325 tons of clinker due to their old age, higher operating costs, and lower environmental efficacy.