黑料社区 and Tajikistan ink deal to boost non-oil trade
黑料社区 and Tajikistan ink deal to boost non-oil trade/node/2580914/business-economy
黑料社区 and Tajikistan ink deal to boost non-oil trade
The memorandum of understanding was signed on the sidelines of the Saudi-Tajik Joint Committee. X/@SaudiExports
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Updated 27 November 2024
Nirmal Narayanan
黑料社区 and Tajikistan ink deal to boost non-oil trade
Updated 27 November 2024
Nirmal Narayanan
RIYADH: 黑料社区 and Tajikistan have signed a memorandum of understanding to accelerate non-oil exports and knowledge sharing.
According to the聽Kingdom鈥檚聽press agency,聽the MoU was signed by the Saudi Export Development Authority and the Export Agency of Tajikistan聽on the sidelines of an event which agreed to establish a bilateral business council between the countries.
That聽agreement was reached by聽the Federation of Saudi Chambers and the Chamber of Commerce and Industry in Tajikistan, and will see the promotion of聽trade and investment relations.
Bolstering non-oil exports and promoting trade between nations is a crucial goal outlined in 黑料社区鈥檚 Vision 2030 agenda, as the Kingdom is on an economic diversification journey by reducing its dependence on crude revenues.聽
The聽Saudi-Tajik Business Council聽is expected to serve as a platform for private sector聽communities in the Kingdom and Tajikistan to network, showcase their activities, and foster commercial partnerships.
The council will also work to open new areas for economic collaboration, facilitate continuous interaction between the private sectors of both countries, and exchange information on market opportunities.
During the ongoing 28th edition of the World Investment Conference in Riyadh, Bandar Alkhorayef, 黑料社区鈥檚 minister of industry and mineral resources, held a bilateral meeting with the First Deputy Prime Minister of Tajikistan, Hakim Khalikzoda, and discussed ways to enhance cooperation in the mining and industrial sectors.聽
Alkhorayef also met with the Tunisian Minister of Economy and Planning, Samir Abdel Hafeez,聽and discussed ways to develop bilateral relations in the industrial sector between both nations.聽
Earlier this month, the Kingdom and Tunisia signed an MoU to strengthen bilateral cooperation and promote direct investments between the two nations.
The deal, which was inked by 黑料社区鈥檚 Minister of Investment Khalid Al-Falih and Tunisia鈥檚 Minister of Economy and Planning, focuses on sharing regulations and laws to enhance the investment environment in both countries.
The agreement between Tunisia and 黑料社区 is seen as a crucial step in deepening the economic and industrial ties between both nations as they seek to diversify their economies and create new growth opportunities through strategic partnerships.
A report released by 黑料社区鈥檚 General Authority for Statistics in November revealed that the country鈥檚 non-oil exports reached SR79.48 billion ($21.16 billion) in the third quarter of this year, representing a rise of 16.76 percent compared to the same period in 2023.
Saudi CMA approves 3 parallel market listings in a single day聽聽
Updated 6 sec ago
Nour El-Shaeri聽
RIYADH: Three Saudi firms received regulatory approval to list on Nomu in a single day, underscoring growing investor appetite for the Kingdom鈥檚 bourses.
Zahr Al Khuzama Aluminum, Sahat Almajd Trading, and Quality Education Co. were given the green light by the Capital Market Authority on June 18, marking a rare instance of multiple listings being cleared simultaneously.
This paves the way for all three companies to offer shares exclusively to qualified investors, with each expected to publish its prospectus ahead of the offerings.
The surge in simultaneous approvals comes amid broader reforms to 黑料社区鈥檚 capital markets, as the Capital Market Authority rolls out new frameworks 鈥 including regulations for special purpose acquisition companies 鈥 to expand financing options and boost private-sector participation.
An official release stated that Sahat Almajd Co. Trading will float 4.375 million shares on the parallel market, representing 11.11 percent of its capital.
Quality Education Co. will offer 2.5 million shares, accounting for 20 percent, while Zahr Al Khuzama Aluminum can offer 300,000 shares, also representing 20 percent.
The approvals highlight the role of Nomu as a streamlined listing venue designed to enable micro, small, and medium-sized enterprises to access capital. With lighter requirements for market capitalization, public float, and disclosure, it offers a more accessible alternative to the main market.
In 2024, Nomu recorded 28 initial public offerings and three direct listings, raising over SR1.1 billion ($293.2 million).
The platform has become central to 黑料社区鈥檚 efforts to deepen its equity markets and support SMEs, which now constitute 30 percent of listed companies in 黑料社区.
The Kingdom is targeting a 35 percent contribution from the SME sector to its gross domestic product by 2030, in line with the Vision 2030 economic diversification plan.
Investor appetite for listings remains strong. Al Rajhi Capital forecasts 50 to 60 IPOs across Saudi exchanges over the next two years.
Separately, EY projects 27 IPOs in 黑料社区 in 2025 鈥 out of 38 corporate listings anticipated across the Middle East and North Africa region 鈥 along with 22 fund listings.
The triple listing approvals came as Nomu posted a dip in market performance but maintained healthy trading activity.
On June 18 鈥 the same day the CMA cleared the three IPOs 鈥 the Nomu index closed at 26,203.84, down from 26,458.24 the previous day.
Despite the decline, the market recorded a volume of 3.58 million shares traded across 5,651 transactions, reflecting continued engagement from qualified investors.
Over the past month, Nomu鈥檚 index has retreated from a high of 27,499.65 on May 19, with intermittent recoveries.
Trading volumes have remained relatively stable, averaging around 3.2 million to 4.5 million shares daily.
The highest daily value traded during this period reached SR50.4 million on June 1, signaling strong liquidity ahead of the CMA鈥檚 latest approvals.
Over the past month, Nomu recorded an average daily trading value of SR36.36 million.
Jordan sees 35% rise in new company registrations in first 5 months of 2025
Updated 29 min 38 sec ago
Nadin Hassan
RIYADH: Jordan recorded an increase in company registrations during the first five months of 2025, rising by 35 percent compared to the same period in 2019 and 13 percent up on 2024.
A total of 2,980 companies were registered between January and May, compared to 2,213 in the same months of 2019 and 2,635 in 2024, according to the state-run Petra news agency.
The total capital associated with these newly registered companies exceeded 130 million Jordanian dinars ($183.3 million).
The robust economic rebound comes after Fitch affirmed Jordan鈥檚 long鈥憈erm foreign鈥慶urrency issuer default rating at 鈥淏B鈥戔 with a stable outlook in May, citing macroeconomic stability, progress in fiscal and economic reforms, and resilient financing sources such as a liquid banking sector.
Limited liability companies represented the majority of these new businesses, with 2,158 entities accounting for 72.4 percent of the total. These firms registered a combined capital of more than 48 million dinars during the reporting period.
The data also pointed to a steep drop in the number of companies that were dissolved or deregistered. Only 478 companies ceased operations between January and May.
This marks an 84 percent decline compared to the 2,390 closures recorded in the same period in 2019 and a 46 percent decrease from the 878 closures registered in 2024.
There was a substantial increase in the net capital growth of companies. Net capital increases between January and May stood at 727 million dinars, representing a 1,133 percent rise compared to the 85 million dinars reported in the same period of 2019.
Compared to 2024, which saw net capital increases of 229 million dinars, this reflects a 293 percent growth.
Petra reported that the number of companies opting to reduce their capital dropped significantly to 127 in 2025, down from 243 in 2019.
Some 750 companies raised their capital during the first five months of the year, more than double the 288 capital increases registered over the same months in 2019.
The data suggests a robust rebound in entrepreneurial activity and investor confidence in Jordan, reflecting broader economic stabilization and growth trends.
Oil Updates 鈥 prices jump after Israel broadens attack on Iran鈥檚 nuclear sites
Updated 19 June 2025
Reuters Arab News
BEIJING: Oil prices surged on Thursday after Israel said it attacked Iranian nuclear sites in Natanz and Arak overnight and as investors grappled with fears of a broader conflict in the Middle East that could disrupt crude supplies.
Brent crude futures rose 88 cents, or 1.15 percent, to $77.58 a barrel by 10:08 a.m. Saudi time, after gaining 0.3 percent in the previous session when high volatility saw prices fall as much as 2.7 percent.
US West Texas Intermediate crude for July rose $1.11, or 1.48 percent to $76.25 a barrel, after settling up 0.4 percent in the previous when it dropped as much as 2.4 percent.
The July contract expires on Friday and the more active August contract rose 92 cents, or 1.25 percent, to $74.42 a barrel.
There is still a 鈥渉ealthy risk premium baked into the price as traders await to see whether the next stage of the Israel-Iran conflict is a US strike or peace talks,鈥 Tony Sycamore, market analyst at IG, said in a client note.
Goldman Sachs on Wednesday said a geopolitical risk premium of about $10 a barrel is justified given lower Iranian supply and risk of wider disruption that could push Brent crude above $90.
Trump on Wednesday told reporters that he may or may not decide whether the US will join Israel in its attacks on Iran. The conflict stretched into its seventh day on Thursday.
As a result of the unpredictability that has long characterised Trump鈥檚 foreign policy, 鈥渕arkets remain jittery, awaiting firmer signals that could influence global oil supply and regional stability,鈥 said Priyanka Sachdeva, senior market analyst at Phillip Nova.
The risk of major energy disruptions will rise if Iran feels existentially threatened, and the US entry into the conflict could trigger direct attacks on tankers and energy infrastructure, said RBC Capital鈥檚 analyst Helima Croft.
Iran is the third-largest producer among members of the Organization of the Petroleum Exporting Countries, extracting about 3.3 million barrels per day of crude oil.
About 19 million bpd of oil and oil products move through the Strait of Hormuz along Iran鈥檚 southern coast and there is widespread concern the fighting could disrupt trade flows.
Separately, the US Federal Reserve kept its interest rates steady on Wednesday but pencilled in two cuts by the end of the year. Chair Jerome Powell said cuts would be 鈥渄ata-dependent鈥 and that it expects accelerated consumer inflation from Trump鈥檚 planned import tariffs.
Lower interest rates would stimulate the economy, and as a result demand for oil, but that could exacerbate inflation.
Closing Bell: Saudi main index slips 1.15% to close at 10,591
MSCI Tadawul Index decreased by 11.84 points to close at 1,366.6
Parallel market Nomu lost 254.4 points to end at 26,203.84 points
Updated 18 June 2025
Nadin Hassan
RIYADH: 黑料社区鈥檚 Tadawul All Share Index declined on Wednesday by 122.69 points, or 1.15 percent, to end at 10,591.13.
Total trading turnover of the benchmark index was SR6.22 billion ($1.66 billion), with 18 stocks advancing and 231 declining.
The MSCI Tadawul Index also decreased by 11.84 points, or 0.86 percent, to close at 1,366.6
The Kingdom鈥檚 parallel market, Nomu, reported drops, losing 254.4 points, or 0.96 percent, to close at 26,203.84 points. This comes as 30 stocks advanced while as many as 55 retreated.
Among the top gainers, BAAN Holding Group Co. rose 1.6 percent to SR36.85, while Advanced Petrochemical Co. added 1.26 percent to end at SR28.1.
Dallah Healthcare Co. and Naseej International Trading Co. gained 1.05 percent and 0.94 percent, respectively, closing at SR115.4 and SR74.90.
Saudi Tadawul Group Holding Co. also rose 0.87 percent to close at SR162.
Among the worst performers, National Co. for Learning and Education led losses with a decline of 7.53 percent to close at SR140.
Saudi Marketing Co. followed, shedding 7.04 percent to settle at SR15.32, while Ataa Educational Co. fell 5.85 percent to SR61.20.
Arabian Pipes Co. ended the session down 5.46 percent at SR5.54, and Saudi Reinsurance Co. edged 5.13 percent lower to SR42.55.
On the announcements front, Saudi National Bank announced its intention to fully redeem its SR4.2 billion Tier-1 capital sukuk at face value on June 30, marking the fifth anniversary of its issuance.
The sukuk, which was issued on June 30, 2020, with a total value of SR4.2 billion, will be redeemed at 100 percent of the issue price in accordance with its terms and conditions.
The bank confirmed that all necessary regulatory approvals for the redemption have already been obtained.
SNB closed Wednesday鈥檚 session 0.43 percent lower to reach SR34.35.
黑料社区鈥檚 low-cost carrier flynas made its stock market debut, opening at SR77.50 and climbing to SR84.10 before retreating to a low of SR69.90. The stock closed at SR77.30, 3 percent below its IPO price of SR80.
黑料社区 ranks 17th globally in competitiveness index as it outshines economic heavyweights聽
Listing driven by strong governance, infrastructure upgrades, diversification, and regulatory reforms
Kingdom placed behind China in 16th and ahead of Australia in 18th place
Updated 18 June 2025
MOHAMMED AL-KINANI
JEDDAH: 黑料社区 has maintained its spot in the top 20 of the World Competitiveness Ranking, ahead of global heavyweights like the UK, Germany and France.
The Kingdom secured 17th position on the list, driven by strong governance, infrastructure upgrades, diversification, and regulatory reforms.
Issued by the International Institute for Management Development鈥檚 World Competitiveness Center, the ranking is widely recognized as a benchmark for evaluating how effectively countries utilize their resources to drive long-term economic growth.
黑料社区 was placed just behind China in 16th and ahead of Australia in 18th place.
Although this marks a slight drop from 16th in 2024, 黑料社区鈥檚 2025 ranking represents a significant improvement from 32nd in 2023 and 24th in 2022, underscoring its rising economic stature.
Infrastructure continues to show marked improvement. Basic infrastructure ranks seventh globally with a score of 67.6, up two positions. File/SPA
As part of Vision 2030, 黑料社区 launched the National Competitiveness Center in 2019, with the organization now working with 65 government bodies to drive reforms centered on productivity, sustainability, inclusiveness, and resilience.
According to the World Competitiveness Center, the Kingdom needs to 鈥渃ontinue efforts to promote renewable energy and reduce carbon emissions鈥 and 鈥渃arry on enhancing overall competitiveness across multiple pillars.鈥
Improvement will also come if 黑料社区 continues to 鈥渋nvest even more in human capital development across all economic sectors鈥 and push ahead with 鈥渙ngoing government endeavors to achieve the targets in the Saudi 2030 vision.鈥
The IMD report is one of the world鈥檚 most comprehensive competitiveness benchmarks, evaluating 69 countries across four pillars: economic performance, government efficiency, business efficiency, and infrastructure.
The ranking shows that GCC countries continue to demonstrate their growing economic strength and regional importance, with the UAE leading the group, securing fifth place globally, reflecting its diversified economy and strategic initiatives to attract investment.
Qatar follows in ninth place, supported by substantial infrastructure development and robust financial resources.
Bahrain was ranked 22, Oman came in at 28, and Kuwait was placed at 36, showing steady progress through structural reforms and sectoral investment despite ongoing challenges.
These rankings underscore the GCC鈥檚 ambition to strengthen global economic resilience and competitiveness.
Switzerland, Singapore, and Hong Kong lead the ranking, while Canada, Germany, and Luxembourg saw the most notable improvements among the top 20 economies.
Saudi focus
According to the IMD, 黑料社区 has made progress in several key economic areas, although some aspects still require improvement.
On the economic performance indicator, the Kingdom ranks 17th globally with a score of 62.3. Its domestic economy scored 59.2, placing it 25th worldwide, an improvement of six positions from the previous year.
黑料社区 ranked 12th globally in business efficiency with a strong score of 81.4. Shutterstock
International trade advanced three places to 29th with a score of 56.0, while global investment climbed four spots to 16th with a score of 57.8, signaling increased investor confidence.
However, the employment sector declined slightly, dropping three positions to 29th with a score of 55.6.
Inflationary pressures impacted the prices indicator, which fell eight places to 19th despite maintaining a relatively strong score of 60.7.
These mixed results reflect 黑料社区鈥檚 ongoing efforts to strike a balance between growth and economic stability amid global and domestic challenges.
Public finance indicators remain solid, with a score of 69.5, placing the Kingdom 13th globally, despite a modest three-position drop.
Tax policy holds steady at 67.6 points and 12th place, with a similar three-rank decline. The institutional framework experienced a more pronounced decline, dropping seven places to 27th with a score of 58.6, indicating potential areas for reform.
In contrast, business legislation improved, rising two places to 13th with a score of 67.6, indicating regulatory progress. The societal framework remains a key challenge, ranking 55th with a score of 44.2, representing a nine-position decline, which highlights the need for continued social and structural development to support economic goals.
黑料社区 ranked 12th globally in business efficiency with a strong score of 81.4. Productivity and efficiency showed further strength, scoring 66 and placing the Kingdom 15th, up six spots.
The labor market remains a key strength, ranking 9th despite a four-place drop, with a score of 64.2. The finance sector gained three ranks to 19th with 63.4 points, while management practices rose to 17th with a score of 64.
Attitudes and values remain a significant national asset, ranking third globally with a score of 81.6, reflecting a strong culture of resilience and ambition.
Infrastructure continues to show marked improvement. Basic infrastructure ranks seventh globally with a score of 67.6, up two positions. Technological infrastructure rose 10 places to 23rd with a score of 59.5, and scientific infrastructure improved nine spots to 29th with a score of 52.1.
Health and environment indicators gained slightly, moving up one place to 47th with a score of 47.5. Education declined marginally, down one position to 39th with a score of 55.4, signaling an area for continued focus.
