RIYADH: Saudi Arabia’s Tadawul All Share Index reversed losses on Wednesday, as it went up by 86.34 points or 0.80 percent to 10,935.39. The parallel market Nomu also edged up by 123.04 points or 0.61 percent to 20,235.61, while the MSCI Tadawul 30 Index rose by 0.78 percent to 1,483.72. The total trading turnover of the benchmark index was SR4.68 billion ($1.25 billion). Emaar The Economic City was the top performer of the day as its shares went up by 6.5 percent to SR8.52. Other top performers of the day were East Pipes Integrated Co. for Industry and Middle East Specialized Cables Co. whose shares went up by 6.37 percent and 4.79 percent respectively. Arabian Internet and Communications Services Co. was the worst performer, as its share prices dropped by 3.96 percent. On the announcements front, Najran Cement Co. announced that its directors approved the board’s recommendation on a 2.5 percent cash dividend, or SR0.25 per share, for the second half of 2022, according to a Tadawul statement. The statement also added that shareholders of Najran Cement Co. also authorized the board of directors to distribute interim dividends on a quarterly or semi-annual basis for the year 2023. The company’s share prices went up by 0.41 percent to SR14.74. Another announcement on Wednesday was made by Retal Urban Development Co. In a Tadawul statement, the company revealed that it has established a Rimal Park Fund, which is basically a private real estate fund, with an estimated cash and in-kind value of SR65 million, which represents 33 percent of the fund’s equity. According to the statement, the Rimal Park Fund, which has a five-year term, aims to develop a luxurious business complex and a residential and commercial complex over two adjacent land plots spanning 54,503 sq. m in Alkhobar. Retal Urban Development Co.’s share prices dipped by 0.34 percent to SR117.60. On Wednesday, Almarai Co.’s shareholders approved a 10 percent cash dividend, or SR1 per share, for 2022. Earlier in January, Almarai had reported a net profit of SR1.75 billion in 2022, up 13 percent compared to 2021.