Tag Archives: Saudi
Saudi Market Poised for Historic Shift as Tadawul Pursues Opening to Foreign Investors
TadawulIn a bold step aimed at fostering liquidity and attracting global capital, Saudi Arabias Capital Market Authority (CMA) has opened a public consultation on landmark reforms that would open Tadawul to foreign investors, according to Gulf News.
The CMA has published the draft amendments on the Public Consultation Platform Istitlaa, to collect feedback from the public and government entities on proposed laws and regulations.
Crucially, the draft plan proposes eliminating foreign investor restrictions, ending swap agreements, and granting direct access to Saudi equities.
Currently, overseas investors are required to register as foreign institutional investors.
Under the new plan, however, this requirement would be abolished, opening the door to unrestricted direct participation in the Saudi market.
Moreover, foreign investors would have full access to direct ownership of Saudi-listed stocks after removing the use of swap agreements.
A CMA board member told Bloomberg...
‎Saudi cement demand poised for 8% growth by 2025: Riyadh Cement CEO
Top Stories Tamfitronics Shoeil Al-Ayed, CEO of Riyadh Cement Co.Demand for cement in Saudi Arabia is expected to grow between 4% and 8% by 2025, Shoeil Al-Ayed, CEO of Riyadh Cement Co., told Asharq News.He explained that this projected increase is driven by major projects undertaken by the Kingdom, particularly in Riyadh.Demand in Q3 2024 saw a slight rise compared to the previous two quarters, all of it was locally driven, Al-Ayed said. He explained that the company is fortunate to operate in Riyadh, where most strategic projects are concentrated. In addition, the firm supplies its output to the majority of large-scale projects in the city.Riyadh Cement's current market share is 6.5%, which is likely to grow as demand increases.Saudi Arabia is exporting black cement to the GCC...
RGMBS 2024: Saudi Arabia Fosters Biotechnology Advancements
Technology tamfitronics RGMBS 2024: Saudi Arabia Fosters Biotechnology AdvancementsUnder the patronage of the Saudi Crown Prince and Prime Minister, Mohammed bin Salman, Saudi Arabia will host the third edition of Riyadh Global Medical Biotechnology Summit (RGMBS 2024) from November 10-12, 2024 in Riyadh.According to the Saudi Press Agency (SPA), the Ministry of National Guard Health Affairs organizes the event, in collaboration with the Ministry of Investment, as a strategic partner.Technology tamfitronics Fostering BiotechnologyThe third edition of the RGMBS is a testament to Saudi leadership’s unwavering support for this vital sector, which contributes to achieving sustainable development and bolstering the national economy.Furthermore, it aligns with the objectives of the National Biotechnology Strategy, which the Saudi Crown Prince launched in January 2024, outlining the Kingdom’s ambitious vision to develop advanced biotechnologies in the fields of medicine,...
‎Saudi economy shows high resilience despite global challenges: Alsayari
Top Stories Tamfitronics Saudi Arabia’s economy demonstrated high resilience despite global economic challenges, Al Eqtisadiah newspaper reported, citing Ayman Alsayari, Governor of the Saudi Central Bank (SAMA).Speaking before the International Monetary and Financial Committee (IMFC) as part of the annual meetings of the International Monetary Fund (IMF) and the World Bank in Washington, Alsayari explained that this resilience is reflected in lower inflation rates, strong growth in non-oil sectors, a record-low unemployment rate, and continued strength in the banking sector, showcasing the progress made under Vision 2030.Saudi Arabia has contributed over $200 million to the IMF’s Poverty Reduction and Growth Trust and provided developmental aid exceeding $36 billion since the onset of the pandemic.SAMA’s Governor added that the rising burden of global sovereign debt underscores the importance...
