Latest news with #SR11.7
Arab News
10-04-2025
- Business
- Arab News
Saudi Arabia climbs to 13th spot in Kearney's FDI Confidence Index
RIYADH: Saudi Arabia rose to 13th place in Kearney's 2025 Foreign Direct Investment Confidence Index, its highest-ever ranking, reflecting stronger investor sentiment amid ongoing economic reforms and diversification efforts. The Kingdom advanced one spot from last year and retained its position as the third most attractive emerging market, signaling continued global confidence in its transformation strategy. The annual index, released by consultancy Kearney, reflects insights from senior executives at the world's leading corporations about likely investment destinations over the next three years. The survey, conducted in January, provides a snapshot of investor sentiment amid a shifting global landscape. This comes as Saudi Arabia's net foreign direct investment inflows surged by 37 percent in the third quarter of 2024 to SR16 billion ($4.26 billion), up from SR11.7 billion in the previous quarter, underscoring the Kingdom's growing appeal to international investors, according to the latest available data from the General Authority for Statistics. Rudolph Lohmeyer, senior partner global business policy council and head of the National Transformations Institute, part of Kearney Foresight Network, said: 'Saudi Arabia's climb is no coincidence — it reflects the Kingdom's bold, reform-driven approach to building a globally competitive, future-ready economy.' He added: 'Global investors are taking note of the clarity of vision, scale of ambition, and commitment to innovation that define the Saudi market today.' The Kingdom's improvement comes at a time when global investors are prioritizing stable, high-performing markets with long-term growth potential. It also aligns with the newly enacted investment law that guarantees equal treatment for foreign and domestic investors, enhancing business confidence and ease of market entry. FDI inflows into Saudi Arabia's non-oil sectors rose 10.4 percent in 2023, as global investors were drawn to the scale and pace of transformation under Vision 2030. According to the survey, investors highlighted the Kingdom's strong domestic economic performance, abundant natural resources, and rapid technological innovation as key factors for choosing Saudi Arabia as an investment destination. These elements support its ongoing shift toward a diversified, innovation-led economy. Erik Peterson, co-author of the report and managing director of Kearney's Global Business Policy Council, said: 'While the Middle East sees strong representation, developed markets dominate the global rankings, led by the US.' 'This speaks to a dynamic and evolving investment landscape, where investors are not only weighing opportunity but also navigating rising risks, including increasingly restrictive regulatory environments driven by a wave of industrial policy aimed at strengthening domestic resilience and national security,' he added. Saudi Arabia's strong performance places it among the top emerging markets for investment, alongside the UAE and China. Despite cautious sentiment in some markets, confidence in the Kingdom is on the rise, underscoring its growing role in global capital flows and its emergence as a model for high-growth, reform-oriented economies. The report noted that investor sentiment was captured before the sharp escalation in global trade tensions in early April. Still, early indicators already pointed to rising concerns over geopolitical instability and commodity price pressures. 'Yet, amid uncertainty, investors continue to prioritize strong fundamentals when selecting markets — citing legal and regulatory efficiency, economic performance, and innovation as key drivers,' it added.
Arab News
09-03-2025
- Business
- Arab News
Closing Bell: Tadawul rises on positive trading day, Nomu follows suit
RIYADH: Saudi Arabia's Tadawul All Share Index rose on Sunday, gaining 25.41 points, or 0.22 percent, to close at 11,836.52. The total trading turnover of the benchmark index was SR3.95 billion ($1.05 billion), with 46 stocks advancing and 182 retreating. The Kingdom's parallel market, Nomu, also gained 35.09 points, or 0.11 percent, to close at 31,331.82, as 18 stocks advanced while 40 retreated. The MSCI Tadawul Index also gained 4.40 points, or 0.30 percent, to close at 1,494.48. The best-performing stock of the day was Dar Alarkan Real Estate Development Co., whose share price rose 7.48 percent to SR18.40. Other top performers included Dallah Healthcare Co., whose share price rose 6.83 percent to SR131.40, and Bupa Arabia for Cooperative Insurance Co., whose share price surged 4.78 percent to SR171. Kingdom Holding Co. recorded the most significant drop, falling 9.94 percent to SR7.70. Arabian Shield Cooperative Insurance Co. also saw its stock prices fall 7.48 percent to SR17.82. Batic Investments and Logistics Co. saw its stock prices decline by 7 percent to SR2.79. On the announcements front, the Saudi Exchange announced the listing and trading of shares of Derayah Financial Co. on the main market starting March 10, with +/- 30 percent daily price fluctuation limits and +/- 10 percent static price fluctuation limits. According to a Tadawul statement, these fluctuation limits will apply during the first three days of listing, and from the fourth trading day onwards, the daily price fluctuation limits will revert to +/- 10 percent, while the static price fluctuation limits will no longer apply. The statement further revealed that Derayah Financial Co. will have the symbol 4084 and ISIN Code SA1690F1VQ15. Lazurde Company for Jewelry announced its annual financial results for the year ended Dec. 31. A bourse filing revealed that the firm reported a net profit of SR11.7 million in 2024, reflecting a 62.01 percent drop compared to 2023. This decrease in net profit is primarily attributed to one-off expenses totaling SR10.2 million related to the cost of changing the company's distributor in the Gulf Cooperation Council and a provision for a legal dispute. In 2023, there was a one-off gain of SR10.1 million from the sales of an administrative office in the UAE. The company ended the session at SR13.08, down 3.63 percent. Fourth Milling Co. also announced its annual financial results for the year ended Dec. 31. According to a Tadawul statement, the company reported a net profit of SR170 million in 2024, reflecting a 19.68 percent surge compared to 2023. This jump is linked to a 12.7 percent rise in revenue and enhanced operational and production efficiency, which improved profit margins. Fourth Milling Co. ended the session at SR4.05, up 0.25 percent.
