黑料社区

GCC expats can now invest directly in Saudi main market

GCC expats can now invest directly in Saudi main market
The updates would enhance the attractiveness of the Saudi capital market for local and international investors. File/Reuters
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Updated 13 July 2025

GCC expats can now invest directly in Saudi main market

GCC expats can now invest directly in Saudi main market
  • Move promotes openness of market internationally
  • Draft was open for 30 calendar days for public consultation

RIYADH: Residents of Gulf Cooperation Council countries, including expatriates, can now directly invest in 黑料社区鈥檚 main stock market for the first time, under new regulations announced by the Capital Market Authority.聽

The reform, unveiled by CMA Chairman Mohammed El-Kuwaiz, removes previous restrictions that limited access to swap agreements or required investors to go through licensed intermediaries. It applies to current and former residents of 黑料社区 or other GCC states, according to an official announcement.聽

The initiatives align with the Kingdom鈥檚 economic diversification goals under Vision 2030, which seeks to deepen capital markets and attract global capital. By streamlining account openings and broadening access, the CMA aims to enhance liquidity, transparency, and investor confidence. 聽

In a post on X, El-Kuwaiz said the move 鈥減romotes the openness of the market internationally, while at the same time building a long-term investment relationship with wider segments of investors around the world, within the framework of a more flexible and attractive regulatory environment.鈥澛

In a separate statement, the CMA said the updates would 鈥渆nhance the attractiveness of the Saudi capital market for local and international investors, increase the level of investor protection, and strengthen the confidence of market participants.鈥澛

The amendments were approved following the CMA鈥檚 publication of the draft on Nov. 20, 2024, titled 鈥淔acilitating the Procedures for Opening and Operating Investment Accounts for Various Categories of Investors.鈥澛

The draft was open for public consultation for 30 calendar days via the Unified Electronic Platform for Consulting the Public and Government Entities, affiliated with the National Competitiveness Centre, and the CMA鈥檚 website.聽

The GCC investor expansion is part of a wider regulatory overhaul unveiled by the CMA last week to modernize 黑料社区鈥檚 investment fund landscape.聽

Key reforms included expanded distribution channels, allowing investment fund units to be distributed through licensed digital platforms and fintech firms approved by the Saudi Central Bank.聽

Stronger governance measures have also been introduced, including new safeguards for fund manager transitions, which require CMA approval and a 60-day handover period to protect investors.聽

REITs listed on the parallel market now have greater flexibility, as they can invest in development projects without strict asset allocation limits, potentially enhancing returns.聽

The latest regulatory changes represent another strategic step to deepen liquidity, attract foreign capital, and position the Saudi Exchange as a leading money market in the region.聽


Saudi cybersecurity sector adds $4.9bn to GDP聽

Saudi cybersecurity sector adds $4.9bn to GDP聽
Updated 17 sec ago

Saudi cybersecurity sector adds $4.9bn to GDP聽

Saudi cybersecurity sector adds $4.9bn to GDP聽

RIYADH: 黑料社区鈥檚 cybersecurity sector added SR18.5 billion ($4.9 billion) to the Kingdom鈥檚 economy in 2024, marking a 19 percent jump from the previous year, official data showed. 

In its latest report, the National Cybersecurity Authority said the sector represented 0.40 percent of the country鈥檚 total gross domestic product and 0.71 percent of non-oil activities. 

The study noted that the size of the Kingdom鈥檚 cybersecurity market 鈥 representing total spending by public and private entities 鈥 reached SR15.2 billion in 2024, up 14 percent year on year. 

Ensuring cybersecurity is a key priority for 黑料社区 as it seeks to position itself as a regional hub for technology and innovation under Vision 2030. 

This comes as 黑料社区 maintained its position as the top-ranked country in global cybersecurity for 2025, according to the International Institute for Management Development鈥檚 World Competitiveness Yearbook. 

In a further endorsement of its international standing, 黑料社区 was designated a Tier 1 鈥渞ole-modeling鈥 nation in the Global Cybersecurity Index 2024 published by the UN鈥檚 International Telecommunication Union. 

鈥淭his sustained growth (in cybersecurity market) is driven in part by NCA鈥檚 ongoing initiatives to enhance the security and resilience of the Saudi cyberspace, which have elevated awareness, regulatory compliance, and investment across the various demand segments,鈥 NCA said in its latest report. 
 
The authoruty, the national reference point for cybersecurity, is tasked with strengthening digital resilience by protecting critical infrastructure, key sectors, and government services. It also sets policies, frameworks, and standards while promoting innovation, investment, and sector growth. 

According to the data, public sector spending stood at SR4.8 billion, or 32 percent of the market, while private sector outlays reached SR10.3 billion, accounting for 68 percent. 

Expenditure on cybersecurity products made up 51 percent of the total market at SR7.7 billion, while services accounted for 49 percent at SR7.5 billion. 

The authority noted that 420 providers were registered in the sector, with 98 percent based in Riyadh, Makkah or the Eastern Province, underscoring the concentration of demand and supply in the country鈥檚 main business hubs. 

The report also showed that 黑料社区鈥檚 cybersecurity workforce surpassed 21,000 professionals in 2024, a 9 percent rise from the year before. Women made up 32 percent of the workforce, exceeding the global average of 24 percent. 

鈥淭his progress is attributed to various programs and initiatives aimed at developing current and future cybersecurity skills and meeting national needs 鈥 ultimately supporting the Kingdom鈥檚 economic and social development,鈥 said NCA. 

In a column for Arab News in August, Majid Rafizadeh, a Harvard-educated Iranian American political scientist, called 黑料社区鈥檚 cybersecurity model a 鈥渂lueprint for the future,鈥 adding that the Kingdom鈥檚 approach to cybersecurity 鈥渟tands out so prominently in 2025.鈥 

鈥淭he Kingdom has built one of the most advanced, comprehensive, and forward-looking cybersecurity frameworks in the world. It has not only recognized the importance of cybersecurity but has acted decisively, creating institutions, strategies, and educational pipelines that are now viewed as models for other nations to follow,鈥 he said.


Saudi economy minister holds talks with EU officials

Saudi economy minister holds talks with EU officials
Updated 17 September 2025

Saudi economy minister holds talks with EU officials

Saudi economy minister holds talks with EU officials

JEDDAH: Saudi-EU ties have been further strengthened after the Kingdom鈥檚 minister of economy and planning held a range of high-level meetings with leading figures from the institution.

Faisal Al-Ibrahim met European Parliament Vice President Pina Picierno in Brussels on Sept. 17 to discuss enhancing collaboration between the Kingdom and the EU on key areas of mutual interest, according to the Saudi Press Agency.

The minister also held talks with the European Commissioner for the Mediterranean Dubravka Suica aimed at boosting cooperation across several sectors and reviewing developments of mutual interest, and with EU Special Representative for the Gulf Luigi Di Maio to strengthen bilateral economic and trade relations.

A day earlier, Al-Ibrahim met European Commissioner for Economy and Productivity Valdis Dombrovskis to discuss bilateral cooperation within the framework of 黑料社区鈥檚 Vision 2030 and recent global economic developments.

In July, the EU announced a 鈧42.5 billion ($46.4 billion) commitment to renewable energy, border security, and socio-economic development across the Middle East and North Africa from 2028.

The funding, aimed at fostering stability and mutual prosperity, opens further opportunities for Saudi-EU collaboration, particularly in renewable energy and sustainable development initiatives aligned with Vision 2030.

In October, the first EU-Gulf Cooperation Council Summit was held in Brussels, marking a historic moment with Crown Prince Mohammed bin Salman attending. 

In May 2024, the European Chamber of Commerce in 黑料社区 was launched, the first of its kind in the Middle East and North Africa region.


Closing Bell: Saudi main market climbs 1.25% as Aramco shares rise

Closing Bell: Saudi main market climbs 1.25% as Aramco shares rise
Updated 17 September 2025

Closing Bell: Saudi main market climbs 1.25% as Aramco shares rise

Closing Bell: Saudi main market climbs 1.25% as Aramco shares rise

RIYADH: 黑料社区鈥檚 Tadawul All Share Index ended higher on Wednesday, increasing 131.66 points, or 1.25 percent, to close at 10,650.39. 

Total trading turnover reached SR4.64 billion ($1.23 billion). A total of 205 stocks advanced, while 43 declined.

The MSCI Tadawul 30 Index gained 14.30 points, or 1.04 percent, to finish at 1,383.42

The Kingdom鈥檚 parallel market, Nomu, however gained 100.63 points, or 0.4 percent, to settle at 25,123.21, with 41 gainers against 44 fallers.

Shares of Saudi Aramco recorded their sharpest increase in two years, rising by 3.21 percent to close at SR24.10 and lifting the Tadawul All Share Index above the 10,600-point mark.

Among the top performers, National Gypsum Co. surged 9.97 percent to SR20.29, while National Metal Manufacturing and Casting Co. climbed 8.86 percent to SR17.7. 

Arabian Internet and Communications Services Co. rose 5.44 percent to SR248.20, Derayah Financial Co. gained 4.66 percent to SR26.48, and BinDawood Holding Co. advanced 4.49 percent to SR5.59.

Among those to see decreases, Saudi Cable Co. dropped 2.47 percent to SR138.20, while Leejam Sports Co. fell 1.29 percent to SR138.20.

 

 


Jeddah airport opens expanded duty-free with global, local brands聽

Jeddah airport opens expanded duty-free with global, local brands聽
Updated 17 September 2025

Jeddah airport opens expanded duty-free with global, local brands聽

Jeddah airport opens expanded duty-free with global, local brands聽

JEDDAH: Passengers traveling through Jeddah airport are set to experience a new duty-free zone, offering global and local brands as 黑料社区 expands its aviation sector. 

The project is managed by JAH Arabia International Duty-Free LLC, a joint venture between Germany鈥檚 Gebr. Heinemann, 黑料社区鈥檚 Astra Group, and Jordanian Duty-Free Shops. The group holds a seven-year license to operate the duty-free shop across Terminal 1 and the North Terminal at King Abdulaziz International Airport. 

The launch is part of 黑料社区鈥檚 broader push to modernize its aviation sector, enhance passenger experience, and diversify revenue streams, while also showcasing local culture alongside global brands.  

The new duty-free underscores the Kingdom鈥檚 bid to attract international travelers, strengthen its position as a regional hub, and generate jobs and investment across tourism and retail. 

Mazen Johar, CEO of Jeddah Airports Co., which operates King Abdulaziz International Airport, told Arab News that about 100 young Saudis are employed as merchandisers at the facility. 

鈥淭he pilot opening took place in August last year, focusing on the key products passengers are most likely to demand. Following the full launch, monthly reviews will track sales, assess demand, and identify emerging passenger needs,鈥 he said. 

Johar emphasized that the duty-free reflects the status of King Abdulaziz International Airport and Jeddah鈥檚 rich culture. 鈥淭he new duty-free aims to deliver exceptional shopping options and enhance services available to passengers at the airport.鈥 

He added that the zone will help increase revenues, diversify income sources, create investment opportunities for local and international investors, and generate direct and indirect jobs for Saudi youth, in line with the National Aviation Strategy and Vision 2030. 

Spanning about 8,000 sq. meters, the zone showcases more than 335 international brands across 35 outlets and boutiques.  

Simon Forde, CEO of JAH Arabia International Duty-Free LLC, told Arab News that they carry all the main global brands, while also highlighting regional products. 

鈥淚 think maybe we need a few more Saudi made products. We have a Saudi-made area. We sell a lot of dates and souvenirs.鈥 

Categories include cosmetics, confectionery, gourmet foods, tobacco, souvenirs, fashion, accessories, and jewelry. Standalone stores include Longchamp, Michael Kors, and Swarovski. Other brands featured are BOSS, Ralph Lauren, and Lacoste. 

He added that Saudi products account for 10 to 15 percent of the duty-free鈥檚 overall displays, noting that the company is still learning about the region and the Kingdom. 

Speaking at the launch, Forde added: 鈥淲e are committed to offer passengers a shopping experience that reflects the uniqueness of the Jeddah airport by striking the perfect balance between a global mindset and local culture.鈥


U20 mayors call on universities to launch Saudi-proposed course

U20 mayors call on universities to launch Saudi-proposed course
Updated 17 September 2025

U20 mayors call on universities to launch Saudi-proposed course

U20 mayors call on universities to launch Saudi-proposed course

RIYADH: Mayors and city leaders worldwide are urging universities to introduce a Master of City Administration degree, an initiative pioneered by 黑料社区 aimed at transforming urban leadership.

According to a press statement, the MCA is designed as an MBA-equivalent program for city leaders, equipping them to navigate complex urban challenges and guide their cities amid rapid population growth.

The initiative was unveiled at the Urban 20 Global Summit in Johannesburg as a collaboration between the South African co-chairs and 黑料社区鈥檚 U20 delegation.

Fahd Al-Rasheed, head of the Kingdom鈥檚 U20 delegation, initially proposed the program during the 2024 Summit in Rio de Janeiro in a paper published by the Brazilian Center for International Relations and the 2024 U20 co-chairs. Since then, the concept has garnered widespread support from mayors, urbanists, and academics.

鈥淐ities are uniquely consequential. They are where we live, work, raise our families and chase our dreams. The need for robust educational programs, tailored to the complexities of city administration, has never been greater,鈥 said Al-Rasheed.

He added: 鈥淭he MCA initiative represents an opportunity to transform the leadership of our cities, to the betterment of those that live in them.鈥

The summit also called on universities to train 290,000 urban leaders by 2050, providing them with a skill set that combines executive, political, and technical expertise.

鈥淭he MCA is not just about creating a degree program. The legacy of South Africa鈥檚 chairmanship of the U20 will be a global movement that transforms how we prepare urban leaders, contributing to more resilient, inclusive, and sustainable cities worldwide,鈥 said Dada Morero, mayor of Johannesburg and U20 co-chair.

The press statement emphasized that MCA will be an interdisciplinary program, blending core curriculum standards with region-specific adaptations to give graduates the technical knowledge, systems thinking, and governance skills needed to lead effectively.

The program will be offered through top international universities, combining academic rigor with practical insights from former mayors and senior administrators.

鈥淭he MBA is the base standard for corporate executive leadership. It is time that the leaders of the world鈥檚 cities, which are at the heart of future human development and prosperity, have an equally rigorous, specialized and respected program for leading our cities into a sustainable future,鈥 said Nasiphi Moya, executive mayor of Tshwane and U20 co-chair.