Latest news with #GOSI
Zawya
08-05-2025
- Business
- Zawya
Saudi market cap surges 463% to $2.7trln, now largest in region
The market capitalisation of Saudi Stock Exchange (Tadawul) has surged by 463% over the last ten years to reach $2.7 trillion at the end of 2024, making it the largest equity market in the Middle East, according to S&P. The significant growth has been driven by the kingdom's drive to boost market liquidity by getting local companies listed, with the 91 initial public offerings (IPOs) between 2014 and 2024 raising an aggregate of around $65 billion. With the flurry of listings, the number of issuers on Tadawul's main market jumped to 247 in 2024 from 169 in 2014. The main bourse has logged the highest trading volumes in the GCC region, and it is now ranked as one of the largest exchanges among emerging markets in terms of market capitalisation, the ratings agency said. It is also the largest emerging equity market outside Asia. However, despite witnessing robust growth over the last ten years, the ratings agency said the Saudi market remains relatively modest compared to other global indices in major markets. It noted that government-related entities (GREs), such as the sovereign wealth fund, the Public Investment Fund, and public pension fund GOSI account for the bulk (nearly 64%) of Tadawul's total capitalisation as of April 17, 2025. Since these entities are typically not frequent traders, Tadawul's trading volume tends to be smaller when compared to other major markets outside the region. 'As of year-end 2024, about 67% of the exchange's market capitalisation came from Aramco's $1.8 trillion value, while the seven largest issuers represented more than 80%. Of these seven issuers, other than Al Rajhi, all are GREs,' S&P said. And while numerous privately owned companies have launched IPOs, public-sector entities still represent the bulk of new listings, generating around $44 billion of the estimated $65 billion of aggregate IPO value over the last ten years. The ratings agency, however, noted that with Saudi Arabia's initiatives like the pension and investment law reforms, the kingdom could attract more foreign investors and advance its equity markets. 'As the Saudi Arabian government rolls out its Vision 2030 program and international investors enter the market, we anticipate a rise in trading activity,' S&P said. 'This should bode well for Tadawul and the country as a more liquid equity market allows shareholders to monetise their holdings, and raise liquidity.' (Writing by Cleofe Maceda; editing by Seban Scaria)
Saudi Gazette
04-05-2025
- Business
- Saudi Gazette
GOSI launches directory for occupational safety and health standards
Saudi Gazette report RIYADH — The General Organization for Social Insurance (GOSI) launched on Sunday a directory for occupational safety and health standards to serve as a unified reference for specialists, establishments, and relevant entities in Saudi Arabia. This is aimed at enhancing safety and health standards while protecting workers from occupational hazards as part of its broader strategy. The directory was launched at the opening of the seventh edition of the Global Occupational Safety and Health Conference 2025 (GOSH). Minister of Human Resources and Social Development Ahmed Al-Rajhi inaugurated the conference in Riyadh on Sunday. According to GOSI, this directory of guidelines has been developed based on leading international practices in occupational safety and health. It aims to assist employers, workers in facilities, and inspectors by providing clear preventive standards to help reduce injuries and occupational hazards in the workplace. The directory includes more than 4,500 standards covering six main sectors: public industries, construction, agriculture, maritime activities, transport, and mining. Additionally, it features a comprehensive classification of more than 70 sectors based on the national directory of economic activities. The directory will establish standards that contribute to increasing productivity and promoting economic sustainability, aligning with Saudi Vision 2030, which aims to achieve a prosperous economy by creating safe and encouraging work environments. Additionally, it seeks to enhance the Kingdom's position and its leadership role in supporting labor rights and investing in human capital, a fundamental pillar of comprehensive and sustainable development.
Argaam
21-04-2025
- Business
- Argaam
Al Othaim renews Dammam mall lease for SAR 633.7M, expects SAR 300M profit
Abdullah Al Othaim Markets Co. signed a lease renewal agreement on April 20 with Abdullah Al Othaim Investment Co. for a commercial complex located on land leased from the General Organization for Social Insurance (GOSI) in Dammam. In a statement to Tadawul today, April 21, the company announced that the contract is valued at SAR 633.7 million over a 15-year period. The annual rent amounts to SAR 39 million, excluding value-added tax (VAT), with a compounded 4% increase every three years. The renewal period begins after the current contract expires on June 9, 2028, the statement noted. Al Othaim expected to realize a profit of approximately SAR 300 million over the entire contract term. In addition, revenues and expenses are projected to be recorded from the contract's signing date until the end of the renewed term in accordance with the International Financial Reporting Standard (IFRS 16). The retailer explained that the lease contract for GOSI's land is valued at SAR 331.5 million (not including value-added tax) over the 15-year period. The contract begins on June 9, 2028. In a separate disclosure, the company announced the signing of a lease renewal agreement with Abdullah Al Othaim Investment Co. for a showroom within the commercial complex in Dammam. The contract is valued at SAR 33.16 million for the entire 15-year duration, commencing on June 9, 2028. The annual rent is set at SAR 2.08 million, excluding value-added tax (VAT), with a compounded 4% rise every three years. The contract renewal is projected to lead to continued profit generation and improvement of the leased site, as the financial impact will begin from the signing date until the end of the renewed term, in accordance with IFRS 16. Al Othaim noted that the parties involved in both contracts include Chairman Abdullah Saleh Al-Othaim and Board Member Bandar Sulaiman Al-Buhairi. The company stated that the transaction will be submitted to the general assembly for approval, in accordance with applicable regulations governing related party transactions.
Mid East Info
26-03-2025
- Business
- Mid East Info
easescreen Implements eSign Room Booking Solution for GOSI in Saudi Arabia in Collaboration with Secutronic
easescreen, a global leader in digital signage solutions, proudly announces the successful deployment of its eSign room booking software across seven buildings of the General Organization for Social Insurance (GOSI) in Saudi Arabia. The implementation, carried out in collaboration with Secutronic, now manages over 50 meeting rooms, enhancing efficiency, visibility, and accessibility within one of the country's most recognized institutions. As Saudi Arabia's central authority for insurance and social aid, GOSI plays a crucial role in the daily lives of millions. With a high volume of meetings and internal coordination, the need for an intuitive, seamless room booking system was essential. easescreen's eSign solution, implemented by Secutronic, now provides a smart, visually effective, and user-friendly digital signage experience that streamlines operations while reflecting GOSI's corporate identity. A Smart and Accessible Room Booking System The easescreen eSign solution offers intuitive and immediate room status updates, ensuring clear communication through: Color-coded indicators – LED panels and on-screen templates display green for available rooms and red for occupied rooms, providing instant visibility. Accessibility for all users – The status is also displayed in text format, ensuring usability for color-blind individuals. Custom template design – The interface was designed to match GOSI's corporate colors and visual elements, blending seamlessly with the existing analog signage to create a cohesive and professional office environment. A Partnership for Innovation This project was successfully implemented by Secutronic, a key partner of easescreen and a leading provider of security and technology integration services in the region. The collaboration between easescreen and Secutronic ensured a smooth and efficient deployment, delivering a scalable and future-proof solution for GOSI's needs. 'Digital signage is not just about technology; it's about enhancing spaces, improving efficiency, and transforming how organizations communicate,' said Zuzana Yalcin at easescreen. 'Thanks to our partnership with Secutronic, we have provided GOSI with a highly functional and accessible room booking system that enhances daily operations.' This project further strengthens easescreen's presence in Saudi Arabia, demonstrating its expertise in delivering customized and high-impact digital signage solutions for government institutions, enterprises, and public-sector organizations.
Zawya
26-03-2025
- Business
- Zawya
Easescreen implements eSign room booking solution for GOSI in Saudi Arabia in collaboration with Secutronic
RELATED TOPICS HOSPITALITY RELATED COMPANIES Al Eatesam Moder Riyadh, KSA: easescreen, a global leader in digital signage solutions, proudly announces the successful deployment of its eSign room booking software across seven buildings of the General Organization for Social Insurance (GOSI) in Saudi Arabia. The implementation, carried out in collaboration with Secutronic, now manages over 50 meeting rooms, enhancing efficiency, visibility, and accessibility within one of the country's most recognized institutions. As Saudi Arabia's central authority for insurance and social aid, GOSI plays a crucial role in the daily lives of millions. With a high volume of meetings and internal coordination, the need for an intuitive, seamless room booking system was essential. easescreen's eSign solution, implemented by Secutronic, now provides a smart, visually effective, and user-friendly digital signage experience that streamlines operations while reflecting GOSI's corporate identity. A Smart and Accessible Room Booking System The easescreen eSign solution offers intuitive and immediate room status updates, ensuring clear communication through: Color-coded indicators – LED panels and on-screen templates display green for available rooms and red for occupied rooms, providing instant visibility. Accessibility for all users – The status is also displayed in text format, ensuring usability for color-blind individuals. Custom template design – The interface was designed to match GOSI's corporate colors and visual elements, blending seamlessly with the existing analog signage to create a cohesive and professional office environment. A Partnership for Innovation This project was successfully implemented by Secutronic, a key partner of easescreen and a leading provider of security and technology integration services in the region. The collaboration between easescreen and Secutronic ensured a smooth and efficient deployment, delivering a scalable and future-proof solution for GOSI's needs. 'Digital signage is not just about technology; it's about enhancing spaces, improving efficiency, and transforming how organizations communicate,' said Zuzana Yalcin at easescreen. 'Thanks to our partnership with Secutronic, we have provided GOSI with a highly functional and accessible room booking system that enhances daily operations.' This project further strengthens easescreen's presence in Saudi Arabia, demonstrating its expertise in delivering customized and high-impact digital signage solutions for government institutions, enterprises, and public-sector organizations. About easescreen easescreen is a leading provider of scalable digital signage solutions, offering cutting-edge content management systems (CMS) that enhance communication, improve operational efficiency, and create engaging visual experiences. easescreen's solutions are trusted by businesses, government institutions, and organizations worldwide. About Secutronic Secutronic is a premier security and technology solutions provider in the Middle East, specializing in integrated digital signage, security, and automation systems. With a strong commitment to innovation and customer satisfaction, Secutronic delivers state-of-the-art solutions for a wide range of industries.
