Arab News, Monday, Mar 8, 2021 | Rajab 24, 1442
Saudi entertainment shares jump on easing of restrictions
Saudi Arabia: Saudi entertainment and retail shares gained on
Sunday after the government said it would end most coronavirus-related
restrictions, including resuming indoor dining and reopening cinemas,
entertainment activities and events.
The sector has been one of the worst affected by a year of restrictions which
has forced restaurants, cinemas and other venues to close their doors.
Entertainment giant Abdul Mohsen Al Hokair Group for Tourism and Development
said all of its entertainment venues and cinema joint ventures would re-open on
Sunday.
However, it said that the suspension of party and meeting halls as well as some
other hotel facilities would continue until notified otherwise by the
government.
The stock gained 5 percent in early trade.
Saudis will also be allowed to exercise in gyms following the relaxation of
restrictions. Leejam Sports Company said it would re-open all of its facilities
from Sunday.
Its stock rose 3.5 percent.