to its highest level in eight years in February, a survey showed on Sunday, based on a strong increase in demand and an optimistic economic outlook.
According to Ahmed Negm, Head of Market Research MENA at XS.com, the favourable business conditions in non-oil sectors could help companies maintain their profit levels despite monetary policy tightening and eroding global conditions. "However, the developments in oil markets could still have an uncertain impact on Saudi stocks due to the current volatility."by more than $1 per barrel on Friday and ended the week higher, driven by renewed optimism around demand from top oil importer China.
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