Latest news with #InternationalInstituteforManagementDevelopment
Zawya
20-05-2025
- Business
- Zawya
Saudi asset management industry grows 20% to over $266bln in 4Q 2024
RIYADH — The value of assets under management (AUM) in the Saudi capital market exceeded SR1 trillion for the first time by the end of 2024, recording a growth rate of 20.9 percent compared to the previous year, according to the 2024 Annual Report published by the Capital Market Authority (CMA). The number of investment funds rose to 1,549, while the number of subscribers in public and private funds exceeded 1.72 million, an increase of 47 percent during the year 2024, compared to 2023. This reflects the sustained momentum in the growth and development of the Saudi capital market. The report highlighted exceptional achievements and record-breaking figures across various regulatory, legislative, and developmental areas, reinforcing the Kingdom's position as an attractive destination for both local and international investment and demonstrating the rapid progress toward the goals of Saudi Vision 2030. According to the report, the total value of listed sukuk and debt instruments in the Saudi capital market reached SR 663.5 billion by the end of 2024, compared to SR 549.8 billion at the end of 2023, reflecting a growth rate of 20.6 percent over the year. The year 2024 also witnessed growth in public offerings and equity registrations, with the CMA approving 60 applications, an increase of 36.4 percent compared to 2023, including 40 applications in the parallel market and 16 in the main market. A total of 44 listings were completed in both markets during the year, marking continued strong activity in IPOs. In terms of foreign investment, the Saudi capital market continued to achieve record levels, with net foreign investments reaching SR218 billion by the end of 2024, compared to SR198 billion the previous year, an increase of 10.1 percent. The value of foreign ownership also rose to SR423 billion, representing 11 percent of the total free float shares in the main market. In relation to the licensing and supervision of capital market institutions, the number of licensed institutions rose to 186 by the end of 2024. Revenues of capital market institutions increased by 29.6 percent compared to the previous year, reaching SR17 billion, while their profits grew by 39.3 percent to reach SR 8.8 billion. The report also highlighted Saudi Arabia's leading position among G20 countries in several international financial market indicators, according to the 2024 World Competitiveness Yearbook issued by the International Institute for Management Development (IMD). The Kingdom ranked first in the Capital Market Index, Stock Market Capitalization Index, Shareholders' Rights Index, and Venture Capital Index. Overall, Saudi Arabia saw improvements in 8 out of the 12 capital market related indicators included in the report. The report also confirmed the CMA's continued efforts to enhance investor protection tools. In 2024, the CMA completed the handling of 121 cases, while compensation awarded to affected investors exceeded SR 389 million, distributed among 921 beneficiaries. The average litigation period decreased to 4.4 months compared to 5.5 months in 2023. Additionally, the CMA issued enforceable decisions against 171 violators of the laws and regulations under its jurisdiction, and followed up on 45 enforcement requests. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Yahoo
14-05-2025
- Business
- Yahoo
Does Canada still deserve to be considered a ‘trading nation'?
Canadians often refer to their country as a 'trading nation.' That's because the economic foundations of Canada were built on trade, first as French and British colonies and later as a sovereign nation that has pursued free trade agreements around the world. As a result, a large share of our historical prosperity has been derived from trade. However, looking at the dismal performance of exports during the past 25 years, you have to wonder whether Canada still deserves to be considered a trading nation. After quadrupling since the 1960s, exports per capita have been flat since 2000, a stunning break in the trend. Simply put, after being responsible for about half of Canada's improvement in gross domestic product (GDP) per capita between 1960 and 1999, exports did not contribute much to the country's prosperity during the past quarter century. This situation contributes to what I have called the 'Lost Decades' — a period when mediocre underperformance in the non-energy sector was masked by the oil and gas investment boom that ended in 2014. Despite the North America Free Trade Agreement (NAFTA), and now the Canada–United States–Mexico Agreement (CUSMA), the total amount of goods Canada exports to the United States has persistently underperformed the total amount of goods Canada imports from the United States since the late 1990s, after having increased in tandem since the early 1960s. Similarly, when Canada and the European Union signed the Comprehensive Economic and Trade Agreement (CETA) in 2017, the share of Canadian exports to the EU was about eight per cent of total exports. Since the pandemic, it has been half this level. In addition, this poor performance hides a divergence between energy exports, which have increased about 40 per cent in volume since the early 2000s, and non-energy exports, which have increased a more modest 15 per cent. Similarly, services exports have more than doubled over the period. The mediocre export performance over the past two and a half decades is concerning, and especially worrying at a time when Canada is facing a trade war with its main trading partner and desperately in need of diversifying its customer base. A lack of competitiveness is the main culprit for the poor performance in exports. Canada used to stand in eighth place in the International Institute for Management Development's World Competitiveness Ranking; it has since dropped to 19th. Canada's persistently weak productivity growth is certainly not helping on the competitiveness front. Chronic underspending on productive investment over multiple decades is the principal cause of its weak productivity performance. Canada currently spends almost as much on home renovations and home ownership transfer costs as a share of GDP as it does on investment in machinery, equipment and intellectual property. More importantly, there is evidence that household borrowing over the past 30 years has crowded out business investment. Some have advanced the idea that the divergence between the energy and non-energy sectors during and following a commodity boom suggests the Canadian economy may have suffered from 'Dutch Disease,' an economic phenomenon where a boom in natural resources leads to currency appreciation, which results in a country's non-resource exports being less competitive both domestically and internationally. However, some preliminary analysis and the fact that the start of the non-energy exports' underperformance predates the oil investment boom suggest that globalization may have played a much bigger role in Canada's mediocre export performance. Many of the sectors that underperformed are ones that were more likely to be relocated due to globalization (textiles, furniture, electronics, etc.). However, Canada was not a victim of globalization, but rather a casualty; the country simply failed to adapt to the new reality. The situation raises important questions. Can the country reclaim its title of a 'trading nation,' where exports contribute to its prosperity? And, in the context of the trade war with the U.S., can the country sustainably increase its exchanges with non-U.S. countries? To reclaim its status as a trading nation, the country will need a clear plan to solve its lack of competitiveness. This includes encouraging spending on productive investment, whether it be machinery, equipment, infrastructure, intellectual property or research and development. It also involves improving efficiencies in the private and public sectors by streamlining regulations and the tax system. Canada should draw inspiration from the successes in other small open economies with similar economic values, such as Switzerland, Denmark, Sweden and Australia. Canada needs to draw on its comparative advantage. In the commodity space, the country is blessed with a large endowment of energy, both conventional and renewable, critical and industrial minerals, and agricultural products. Canada also has one of the most educated workforces, with one of the highest percentages of adults with tertiary education in the Organization of Economic Co-operation and Development (OECD). Canada must find a way to unleash this talent and become a service export powerhouse. One thing is for certain: in light of the country's performance over the past two decades, it cannot rely on being a low-cost supplier in a globalized world. Trump 'elephant in the room' of Canada's election FP Video on Trump's fiscal footprint Diversifying Canada's exports will require sustained effort. The gravitational pull from the U.S. — with its similarities to Canada and its 350 million consumers representing 25 per cent of the world economy — will be impossible to fully escape. Expanding beyond North America will involve more than just trade deals. It will require building relationships with other nations using Canada's trade commissions. It will also require enhanced access to trade financing to ensure exporters have the financial support needed. Charles St-Arnaud is the chief economist at Alberta Central. Sign in to access your portfolio
African Manager
24-04-2025
- Business
- African Manager
Smart City Index 2025: Tunis plummets to 142nd place among 146 ranked cities
The International Institute for Management Development (IMD) has just released its 2025 Smart City Index, a global ranking that evaluates cities' ability to harmonize technology with quality of life. A total of 146 cities were assessed based on criteria such as urban service efficiency and residents' lived experiences. But what exactly defines a 'smart city'? According to the report, it is a city that leverages digital technologies not for superficial appeal but to tangibly address citizens' needs, including mobility, safety, healthcare, education, and environmental sustainability. The goal is to create a smoother, more sustainable, and ultimately more human-centric living environment. In North Africa, no city ranks within the top 100 of the 2025 Smart City Index. Conversely, a few cities in Southern Africa perform slightly better, though the continent as a whole remains underrepresented in the ranking. Tunis, Tunisia's capital, fell five spots from the previous edition, now ranking 142nd out of 146 cities. This marks a decline from its 137th position in the 2023 and 2024 rankings. In North Africa, Tunis outperforms Sanaa (145th), while Cairo fares better at 117th, followed by Rabat (123rd) and Algiers (128th). In the broader Middle East and North Africa (MENA) region, Dubai stands out. Thanks to massive investments in smart infrastructure, the city leads regionally and ranks 4th globally. Abu Dhabi follows closely, securing 5th place worldwide, driven by its ambitious digital transformation and sustainability strategies. Other Gulf cities also feature in the top 100: Riyadh (27th), Doha (33rd), Mecca (39th), Jeddah (47th), Al Khobar (61st), Medina (67th), and Kuwait City (90th). Globally, Switzerland reaffirms its dominance in smart city development, with Zurich topping the list. The city excels in efficient urban management, advanced digitization of public services, and a high quality of life praised by residents. The country's well-structured, digitized systems successfully blend technological innovation with collective well-being. Oslo claims second place, followed by Geneva, which climbs to third this year, closely trailed by Lausanne. Dubai and Abu Dhabi round out the global top five. The index combines objective metrics—such as air quality, mobility, infrastructure, and access to digital services—with residents' perceptions of how technology tangibly improves their daily lives.
Zawya
24-04-2025
- Business
- Zawya
GPSSA's four-day training for GCC delegates concludes today
Abu Dhabi - The four-day training organized by the General Pension and Social Security Authority (GPSSA) for GCC delegates from across pension and social security authorities entitled 'Insurance Kit – Customer Happiness' concludes today. The training was held from 21 - 24 April at GPSSA's Abu Dhabi headquarters to enhance knowledge, experience and collaboration amongst delegates from across various pension and social security authorities in the GCC region. During the training, GPSSA's trainers and experts highlighted three main areas, namely: future skills, professional skills and global benchmarks that measure efficiency and talent management, during which the UAE's experience in talent management was emphasized, since the UAE earned the first regional position and the 17th internationally in the Global Talent Competitiveness Index, GTCI (2024 Talent Ranking issued by the International Institute for Management Development). This resulted in the UAE outperforming countries such as the United Kingdom, United States of America, Canada, France and South Korea. During an interactive presentation, the history of insurance and social security and the stages of development were emphasized in form of a cinematic documentary. The advantages and pivotal importance of insurance and social security in the lives of individuals were discussed, alongside supporting national strategies in GCC region which contribute to achieving stability in the lives of customers. This type of stability tops GCC leadership's agenda, which is why GCC citizens who do not work in their own-home-country but are employed in any of the GCC countries, are granted insurance and social security rights as if they were living in their own country. Another interactive travel-themed presentation covered the journey of excellence in customer happiness, showcasing the UAE's pioneering experience in providing government services that meet future expectations. The attendees were offered the opportunity to navigate knowledge-based stations that highlighted some the most prominent systems and global models in government services, some of which included Emirates Programme for Excellence in Government Services, the Global Star Rating System for Services, the Government Excellence Model and the Telecommunications and Digital Government Regulatory Authority (TDRA). Additionally, the stages of transitioning to proactive services and adopting some of the top artificial intelligence technology for service design were discussed, alongside GPSSA's proactive development services that align with the objectives of the UAE governments 2021-2025 strategy, which aims to turn the UAE into the best country in the world in providing government services through an innovative and customer-based approach. The delegates praised the UAE's organizational capabilities and were presented with commemorative shields and certificates of participation. The workshop concluded with a group photo of all the attendees. For more information, please contact: Dina El Shammaa Media and Public Relations Senior Specialist E-mail: Website:
Gulf Insider
10-04-2025
- Business
- Gulf Insider
Makkah Ranks 39th IMD Smart City Index 2025
The International Institute for Management Development (IMD) announced that Makkah ranked 39th globally in the 2025 Smart City Index, securing second place nationwide after Riyadh. The progress highlights ongoing efforts in digital transformation and innovation through modern and advanced technologies, contributing to improving the quality of life for the city's residents and visitors, making it an attractive environment for investment, and creating economic opportunities. The IMD Smart City Index assesses cities' readiness to use advanced technologies in addressing challenges, with a focus on improving quality of life and creating an attractive business environment for investment, according to the Saudi Press Agency (SPA). It highlights the significant progress Makkah has made in digital transformation. Source Bahrain News Agency
