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Saudi-Indonesian Roundtable Discusses Boosting Investment Partnership 

Saudi Minister of Investment Khalid al-Falih at the roundtable meeting. (SPA) 
Saudi Minister of Investment Khalid al-Falih at the roundtable meeting. (SPA) 
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Saudi-Indonesian Roundtable Discusses Boosting Investment Partnership 

Saudi Minister of Investment Khalid al-Falih at the roundtable meeting. (SPA) 
Saudi Minister of Investment Khalid al-Falih at the roundtable meeting. (SPA) 

Saudi and Indonesian officials held a roundtable meeting in Riyadh in the presence of Minister of Investment Khalid al-Falih and Indonesian Trade Minister Zulkifli Hasan, along with distinguished officials from both countries and significant private-sector representatives.

They discussed various aspects of investment partnerships in fields such as energy, healthcare, food, agriculture, human resources, and education.

They explored ways to strengthen and increase investments by leading Saudi and Indonesian companies in both nations.

The meeting reviewed investment opportunities in Saudi Arabia and Indonesia and ways to enhance economic and investment ties, foster quality investments, and enable the private sector to benefit from investment opportunities.

Furthermore, the meeting witnessed the signing of memoranda of understanding (MoU) in the human-resources sector.

The MoU aims to strengthen strategic cooperation and promote awareness, labor culture, training programs, knowledge exchange, and providing technical consultations through seminars and conferences that can be held in both countries.

On Wednesday, Indonesian President Joko Widodo and an accompanying delegation arrived in Riyadh to participate in the Gulf Cooperation Council (GCC) and the ASEAN summit.

He was received at King Khalid International Airport by Riyadh Governor Prince Faisal bin Bandar bin Abdulaziz and a number of Saudi ministers and officials.

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Positive Outlook for Saudi Stock Market Next Week

A trader monitors the screen at the Saudi Exchange in Riyadh. (AFP)
A trader monitors the screen at the Saudi Exchange in Riyadh. (AFP)
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Positive Outlook for Saudi Stock Market Next Week

A trader monitors the screen at the Saudi Exchange in Riyadh. (AFP)
A trader monitors the screen at the Saudi Exchange in Riyadh. (AFP)

Saudi Arabia’s Tadawul All Share Index (TASI) ended the second week of March with a slight decline for the third consecutive week, closing down 0.73% at 11,725.88 points, compared to the previous week's close of 11,811.11 points.

In an analysis of the market performance during the week ending March 13, Dr. Suleiman Al-Humaid Al-Khalidi, a financial market analyst, told Asharq Al-Awsat that the market experienced a sharp decline not seen in years, coinciding with a drop in global markets, particularly in the US, where $2 trillion in value was wiped out in a single day.

This accounted for roughly 60% of the total market value of the Saudi stock market.

Al-Khalidi noted that the key player in the Saudi market is the banking sector, especially Al-Rajhi Bank's shares, which showed resilience and did not follow the downward trend. This was attributed to the strong profits reported by the banking sector in 2024.

The primary factors contributing to the market’s decline include global economic pressures, particularly US tariffs on most global economies, ongoing global uncertainty, and the Federal Reserve's tight monetary policies, he explained.

These factors have significantly impacted liquidity flows into financial markets. Additionally, fluctuations in global oil prices, despite recent stability, have also played a role.

This downturn has been accompanied by caution among sovereign wealth funds, investment institutions, and some portfolios in injecting new liquidity or altering their positions until there is more clarity in the financial markets, he went on to say.

Moreover, Al-Khalidi said that the Saudi stock market has not accurately reflected the true strength and size of the Saudi economy, which has grown to SAR 4 trillion, up from SAR 600 billion in 2016, before the launch of Vision 2030.

Additionally, the country’s GDP has reached approximately $1.1 trillion.

Looking ahead to the market's performance in the coming week, he noted that there are strong support levels at 11,550 points, followed by 11,450 points.

These levels could help shift the market toward an upward trajectory and better reflect the robust growth of the Saudi economy.

Al-Khalidi emphasized that the banking and energy sectors could play a leading role in driving the market higher, pushing the index beyond this week’s closing levels.

He also pointed out that some stocks are hitting new lows, presenting significant investment opportunities for those seeking safe havens with steady returns in the Saudi market.