Saudi Ambassador, Lebanon's Finance Minister Discuss Reforms, Regional Developments
The meeting focused on the latest developments in Lebanon and the region.
The officials also tackled the reforms the Finance Ministry is adopting to revive Lebanon's economy and stimulate growth. They discussed means to boost investment between their countries in various fields.
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Arab News
an hour ago
- Arab News
Saudi Arabia tops GCC debt market with $47.9bn in H1 issuances: Markaz
RIYADH: Saudi Arabia led the Gulf region's primary debt market in the first half of 2025, raising $47.93 billion through 71 bond and sukuk issuances, a new analysis showed. According to a report from Kuwait Financial Center, also known as Markaz, the Kingdom accounted for 52.1 percent of the total Gulf Cooperation Council issuances during the period, cementing its position as the region's dominant fixed income market. However, the volume marked a 19.8 percent year-on-year decline from $59.73 billion in the first half of 2024. Overall, GCC primary debt issuances totaled $92.04 billion during the period, down 5.5 percent from a year earlier. Affirming the expansion of the region's debt market, Fitch Ratings noted in December that total outstanding debt in the GCC surpassed the $1 trillion mark. Commenting on the latest first half figures, Markaz stated: 'As for issuance preferences, the first half saw an increased appetite for conventional issuances in the GCC, representing 56.1 percent of total issuances for the year.' It added: 'This is a change in issuance preferences from the first half of 2024, where more sukuk were issued than conventional bonds.' Regional outlook Saudi Arabia's debt market has expanded rapidly in recent years, as both domestic and international investors seek diversification and stable returns. In July, the National Debt Management Center raised SR5.02 billion ($1.34 billion) through a riyal-denominated sukuk issuance, marking a 113.6 percent increase from the previous month. Earlier in February, the Kingdom issued €2.25 billion ($2.36 billion) in euro-denominated bonds, including its inaugural green tranche, under its Global Medium-Term Note Issuance Program. In December, Kamco Invest projected that Saudi Arabia would lead the region in bond maturities over the next five years, with about $168 billion in Saudi bonds expected to mature between 2025 and 2029 — a reflection of the Kingdom's growing prominence in regional debt markets. Following Saudi Arabia, the UAE ranked second with $24.03 billion raised from 69 issuances, accounting for 26.1 percent of total market share. This also represented a 22.2 percent increase over the same period last year. Qatar followed with $10 billion from 58 offerings, capturing 10.9 percent of total GCC issuance in the first half. Bahrain saw $5.62 billion raised through seven issuances — an increase of 49.7 percent year on year. Kuwaiti issuances climbed 48 percent to $3.39 billion from four deals, while Oman recorded the region's lowest total, with $1.08 billion from six issuances. Maturity and issue size profile According to Markaz, bonds and sukuk with tenors under five years accounted for 46.9 percent of total GCC issuances, amounting to $43.2 billion across 154 deals. Issuances with tenors of five to ten years made up 33.8 percent of the market, totaling $31.1 billion from 43 deals. Bonds with maturities between 10 and 30 years comprised 9.6 percent, raising $8.8 billion from five transactions. 'One issuance came in with a maturity greater than 30 years with a value of $1 billion, while perpetual issuances saw an increase in both the size and number of issuances when compared to the first half of 2024, with a total value of $8 billion through 12 issuances,' added Markaz. Issuance sizes ranged from $2 million to $5 billion. The largest share — $54.5 billion, or 59.2 percent of the total — came from 32 deals each valued at $1 billion or more. Those between $500 million and $1 billion raised $27 billion across 44 offerings. The highest number of deals fell in the sub-$100 million category, with 105 transactions collectively raising $3.2 billion. Currency profile US dollar-denominated instruments dominated the primary market, raising $73.1 billion through 146 issuances — representing 79.4 percent of the total value. The Saudi riyal was the second most used currency, with $7 billion raised across eight deals. 'As for currencies bucketed under 'other' which totaled $2 billion, the Hong Kong Dollar represented 0.74 percent of total issuances with a total value of $682 million through 20 issuances,' added Markaz. A separate report by Fitch in April said GCC countries accounted for over 35 percent of all emerging-market US dollar debt issued in the first quarter of 2025 — excluding China — up from about 25 percent in 2024. Issuances by type Corporate issuances in the GCC rose sharply by 67.7 percent year on year to reach $60.20 billion in the first half of 2025, accounting for 65.4 percent of total issuances. Government-related entities contributed $11.2 billion across 11 issuances. In its latest report, Markaz noted that conventional issuances rose 7.8 percent year on year to $51.61 billion in the first half. In contrast, sukuk issuances declined 18.2 percent over the same period, totaling $40.43 billion. The financial sector led issuance activity, raising $40.1 billion from 167 deals — 43.6 percent of the total. Government issuers came next, contributing $31.9 billion from 25 offerings. 'The energy sector follows, with $8.6 billion through 9 issuances, representing 9.4 percent of total issuances, with the remaining sectors together representing a small portion of total issuance at 12.5 percent,' added Markaz.
Arab News
an hour ago
- Arab News
Closing Bell: Saudi main index closes up at 10,839
RIYADH: Saudi Arabia's Tadawul All Share Index edged higher on Monday, gaining 6.35 points, or 0.06 percent, to close at 10,839.45. The total trading turnover of the benchmark index reached SR4.92 billion ($1.31 billion), with 138 stocks advancing and 110 declining. The Kingdom's parallel market Nomu also closed in positive territory, rising 135.55 points, or 0.51 percent, to settle at 26,891.39, as 41 stocks advanced while 38 retreated. Meanwhile, the MSCI Tadawul 30 Index slipped marginally, losing 1.41 points, or 0.10 percent, to end at 1,397.24. The best-performing stock of the day was Tourism Enterprise Co., whose share price rose 9.57 percent to SR1.03. Other top performers included SICO Saudi REIT Fund Unit, which climbed 7.58 percent to SR4.40, and Takween Advanced Industries Co., which gained 6.56 percent to close at SR8.29. Perfect Presentation for Commercial Services Co. rose 5.56 percent, while Amana Cooperative Insurance Co. gained 5.15 percent. Nice One Beauty Digital Marketing Co. registered the steepest decline, falling 9.97 percent to SR26.74. Other notable declines came from Thimar Development Holding Co., down 5.84 percent to SR36.42, and Al Etihad Cooperative Insurance Co., which dropped 5.56 percent to SR11.71. Herfy Food Services Co. and BAAN Holding Group Co. also ended the day lower, falling 5.20 percent and 4.74 percent. On the announcement front, the Saudi Exchange Co. has approved SNB Capital's application to conduct market-making activities on Almasane Alkobra Mining Co. and Waja Co., effective from July 30. According to the exchange, SNB Capital's obligations as a market maker for Almasane Alkobra Mining Co. include maintaining a minimum presence of orders at 70 percent, a minimum size of 75,000 units, and ensuring a maximum spread of 0.75 percent. Additionally, the market maker must achieve a minimum value traded of at least 5 percent. For Waja Co., SNB Capital is required to uphold a minimum presence of orders at 50 percent, with a minimum size of 50,000 units and a maximum spread of 5 percent. There is no minimum value traded requirement for Waja Co. The company will perform its duties in line with the Market Making Regulations and the Market Making Procedures set by the Saudi Exchange Co.
Arab News
2 hours ago
- Arab News
Jordan sees tourism slump over Gaza war
AMMAN: Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra and other sites since the Gaza war began in October 2023, according to officials. Although Jordan does not border the Gaza Strip, it has been among several countries across the region impacted by the war between Israel and the Palestinian militant group Hamas. Figures released by the Petra Development and Tourism Region Authority and reported Monday by the official Al-Mamlaka TV showed the number of visitors slashed by 61 percent, from 1,174,137 in 2023 to 547,215 this year. 'We feel the repercussions of the aggression on Gaza every day, especially for providers of tourism services,' Abdul Razzaq Arabiyat, the director of the national tourism board, told Al-Mamlaka on Friday. He said incoming tourism from Europe and North America has hit a record low, dealing a devastating blow to the hotel industry and tour operators around Petra, in Jordan's south. According to figures from the Petra tourism authority carried by official media, 32 hotels have had to shut down and nearly 700 people have lost their jobs. Petra, famous for its stunning temples hewn from rose-pink cliff faces, is a UN World Heritage site. The Jordanian economy relies on revenues from the kingdom's tourism sector, which accounts for 14 percent of gross domestic product.
