Latest news with #SR75
Arab News
20-03-2025
- Business
- Arab News
Tadawul approves Merrill Lynch Kingdom of Saudi Arabia as market maker for 20 listed securities
RIYADH: Saudi Exchange has approved Merrill Lynch Kingdom of Saudi Arabia to act as market maker for 20 listed securities across the main trading platform and the parallel index. This decision allows the company to enhance market liquidity and improve price efficiency in accordance with regulations and procedures. Among the securities listed on the main index, Merrill Lynch Kingdom of Saudi Arabia will act as a market maker for Naseej International Trading Co., ensuring a minimum presence of orders at 70 percent, maintaining a size of SR75,000 ($19,995), and adhering to a maximum spread of 0.75 percent, with a minimum value traded of 5 percent. Similarly, it will provide services for the National Co. for Glass Industries under the same trading obligations as Naseej International Trading Co. The National Co. for Learning and Education will have a minimum order presence of 70 percent, a minimum size of SR50,000, a maximum spread of 0.75 percent, and a minimum value traded of 5 percent. Meanwhile, Al Hassan Ghazi Ibrahim Shaker Co. will adhere to the same market-making requirements as Naseej International Trading Co. and the National Co. for Glass Industries. Sustained Infrastructure Holding Co. and Theeb Rent a Car Co. will also be covered under similar obligations, ensuring a minimum presence of orders at 70 percent, a minimum size of SR75,000, a maximum spread of 0.75 percent, and a minimum value traded of 5 percent. Saudia Dairy and Foodstuff Co. will have a minimum order presence of 80 percent, a minimum size of SR75,000, a maximum spread of 0.65 percent, and a minimum value traded of 5 percent. Dallah Healthcare Co. will operate under the same market-making conditions as Naseej International Trading Co., while Gulf Insurance Group will have a minimum order presence of 60 percent, a minimum size of SR50,000, a maximum spread of 1 percent, and a minimum value traded of 5 percent. Aldawaa Medical Services Co. will be subject to a minimum order presence of 80 percent, a minimum size of SR75,000, a maximum spread of 0.65 percent, and a minimum value traded of 5 percent. Meanwhile, Tourism Enterprise Co. will ensure a minimum order presence of 50 percent, a minimum size of SR250,000, and a maximum spread of 3 percent, with no specified minimum value traded. On Nomu, Merrill Lynch Kingdom of Saudi Arabia was approved as a market maker for Atlas Elevators General Trading and Contracting Co., Riyadh Steel Co., Sure Global Tech Co., and Ladun Investment Co. Additionally, the firm will provide market-making services for MOBI Industry Co., Molan Steel Co., and Fesh Fash Snack Food Production, as well as Yaqeen Capital Co. and Lana Medical Co. For each of these securities, the firm will ensure a minimum presence of orders at 50 percent, maintain a minimum size of SR50,000, and adhere to a maximum spread of 5 percent, with no minimum value traded requirement. Merrill Lynch Kingdom of Saudi Arabia's participation in market making is expected to contribute to greater liquidity and a more efficient trading environment, reinforcing the development of the country's capital market. This move aligns with the Kingdom's ongoing efforts to attract global financial institutions and strengthen its capital markets by promoting transparency, efficiency, and investor confidence.
Arab News
18-03-2025
- Business
- Arab News
Tabuk entrepreneurs, freelancers receive $61.2m from Social Development Bank in 2024
JEDDAH: Entrepreneurs and freelancers in Tabuk received over SR230 million ($61.2 million) in funding from the Social Development Bank in 2024, boosting established businesses and independent work in the region. The government-owned financial institution announced that in 2024 it provided over SR75 million in financing to more than 200 businesses in the northwestern region and helped 4,000 freelancers with funding, totaling over SR155 million, according to the Saudi Press Agency. SDB's Regional Director Hamed Al-Anzi highlighted that this support is part of the bank's efforts to enhance entrepreneurship and help individuals achieve financial independence through their own businesses. The support aligns with Saudi Arabia's Vision 2030 objectives, which includes raising the contribution of small and medium enterprises to 35 percent of the gross domestic product by the end of the decade. Speaking during a discussion panel at the 'Diwaniya of the Chamber' event organized by the Tabuk Chamber of Commerce, Al-Anzi emphasized that SDB is working to offer a range of financial products targeting youth of both genders who wish to launch their own businesses, as well as specialized programs to support SMEs, which, he said, play a vital role in the development of the national economy. He also emphasized that SDB and the National Entrepreneurship Institute, known as Riyadah, are partnering to empower young entrepreneurs to launch their businesses, creating job opportunities for the local community. The regional director further encouraged aspiring business owners to make use of the digital platforms provided by supporting entities, which offer easy access to financing, training programs, and specialized consultations. The session, attended by several regional businesspeople, concluded with a discussion on the challenges of freelancing and the requirements for starting new companies, highlighting the positive impact these initiatives have on Tabuk's growing economy. Supporting freelancers is crucial for the nation's economy. In 2023, independent workers contributed SR72.5 billion to the GDP, representing 2 percent of the country's total economic output. As freelancing continues to grow, with over 2.25 million individuals registered on freelance platforms as of September, it plays an increasingly vital role in diversifying income sources and strengthening the national economy.
Arab News
10-03-2025
- Business
- Arab News
Tadawul approves Morgan Stanley Saudi Arabia as market maker for 8 listed securities
RIYADH: Tadawul has approved Morgan Stanley Saudi Arabia to serve as a market maker for eight securities on the main trading platform and the parallel index, Nomu. The decision allows the financial services company to enhance market liquidity and improve price efficiency in accordance with regulations and procedures. Among the securities listed on the main index, the firm will act as a market maker for Arabian Internet and Communications Services Co., where it will ensure a minimum presence of orders at 80 percent, maintain a size of SR150,000 ($39,982), and adhere to a maximum spread of 0.65 percent, with the lowest value traded of 5 percent. Similarly, it will provide services for Electrical Industries Co., ensuring an 80 percent minimum presence of orders, a minimum size of SR75,000, a maximum spread of 0.65 percent, and a value traded of 5 percent. Elm Co. is also among the approved securities, with Morgan Stanley Saudi Arabia committing to the same trading obligations as Electrical Industries Co. Meanwhile, the Co. for Cooperative Insurance will have a minimum order presence of 80 percent, a minimum size of SR150,000, a maximum spread of 0.65 percent, and a value traded of 5 percent. On Nomu, Morgan Stanley Saudi Arabia was approved as a market maker for National Environmental Recycling Co., International Human Resources Co., Almuneef Co. for Trade, Industry, Agriculture, and Contracting, as well as Aqaseem Factory for Chemicals and Plastics Co. In each of these cases, it will ensure a minimum presence of orders at 50 percent, maintain a minimum size of SR50,000, and adhere to a maximum spread of five percent, with no minimum value traded requirement. Morgan Stanley Saudi Arabia's participation in market making is expected to contribute to greater liquidity and a more efficient trading environment, reinforcing the development of the country's capital market. In November, the investment bank was granted approval to establish its regional headquarters in the Kingdom, as the nation continues to attract international investment. This move aligns with Saudi Arabia's regional headquarters program, which offers businesses various incentives, including a 30-year exemption from corporate income tax and withholding tax on headquarters activities, as well as access to discounts and support services. Morgan Stanley first entered the Saudi market in 2007, launching an equity trading business in Riyadh, followed by the establishment of an equity fund in 2009.
Zawya
10-03-2025
- Business
- Zawya
Saudi Exchange approves Morgan Stanley Saudi Arabia as Market Maker on eight listed securities
RIYADH — The Saudi Exchange Company has approved Morgan Stanley Saudi Arabia to conduct Market Making activities on eight listed securities in both the Main Market and Nomu – Parallel Market, effective March 10, 2025. In the Main Market, Morgan Stanley Saudi Arabia will act as a Market Maker for Arabian Internet and Communications Services Co. (7202), Electrical Industries Co. (1303), Elm Co. (7203), and The Company for Cooperative Insurance (8010). The Market Maker obligations for these securities include a minimum presence of orders at 80%, minimum sizes ranging from SR75,000 to SR150,000, and a maximum spread of 0.65%. In the Nomu – Parallel Market, Market Making activities will apply to National Environmental Recycling Co. (9540), International Human Resources Co. (9545), Almuneef Company for Trade, Industry, Agriculture and Contracting (9569), and Aqaseem Factory for Chemicals and Plastics Co. (9539). These securities will have a minimum presence of orders at 50%, minimum size of SAR 50,000, and a maximum spread of 5.00%. Morgan Stanley Saudi Arabia will operate under the Market Making Regulations and Procedures set by the Saudi Exchange, facilitating liquidity and efficiency in the market. © Copyright 2022 The Saudi Gazette. All Rights Reserved. Provided by SyndiGate Media Inc. (
Saudi Gazette
09-03-2025
- Business
- Saudi Gazette
Saudi Exchange approves Morgan Stanley Saudi Arabia as Market Maker on eight listed securities
Saudi Gazette report RIYADH — The Saudi Exchange Company has approved Morgan Stanley Saudi Arabia to conduct Market Making activities on eight listed securities in both the Main Market and Nomu – Parallel Market, effective March 10, 2025. In the Main Market, Morgan Stanley Saudi Arabia will act as a Market Maker for Arabian Internet and Communications Services Co. (7202), Electrical Industries Co. (1303), Elm Co. (7203), and The Company for Cooperative Insurance (8010). The Market Maker obligations for these securities include a minimum presence of orders at 80%, minimum sizes ranging from SR75,000 to SR150,000, and a maximum spread of 0.65%. In the Nomu – Parallel Market, Market Making activities will apply to National Environmental Recycling Co. (9540), International Human Resources Co. (9545), Almuneef Company for Trade, Industry, Agriculture and Contracting (9569), and Aqaseem Factory for Chemicals and Plastics Co. (9539). These securities will have a minimum presence of orders at 50%, minimum size of SAR 50,000, and a maximum spread of 5.00%. Morgan Stanley Saudi Arabia will operate under the Market Making Regulations and Procedures set by the Saudi Exchange, facilitating liquidity and efficiency in the market.
