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Single Stock Options Contracts Help in Developing Saudi Market, Attracting Investors

Saudi Exchange (Tadawul) announced that Single Stock Options (SSOs) contracts will be available to trade as of Monday. (SPA)
Saudi Exchange (Tadawul) announced that Single Stock Options (SSOs) contracts will be available to trade as of Monday. (SPA)
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Single Stock Options Contracts Help in Developing Saudi Market, Attracting Investors

Saudi Exchange (Tadawul) announced that Single Stock Options (SSOs) contracts will be available to trade as of Monday. (SPA)
Saudi Exchange (Tadawul) announced that Single Stock Options (SSOs) contracts will be available to trade as of Monday. (SPA)

The Saudi Exchange (Tadawul) launched on Monday single stock options (SSOs) contracts, the newest offering in its derivatives market.

The new offerings include American-style options that are physically settled for some of the Kingdom’s most prominent companies: Saudi Aramco, Al Rajhi Bank, stc and SABIC.

In remarks to Asharq Al-Awsat, financial analysts described the launch of the SSOs contracts as a move towards developing the Saudi financial market, diversifying its investment tools and channels, and attracting capital, major investment companies, and foreign investors to the Saudi market.

CEO of Razeen Capital Mohammed Al-Suwayed said options contracts were very important in attracting additional capital to the Saudi Exchange, and helping long-term investors protect their investments and increase methods of controlling financial market risks.

Financial analyst Abdullah Al-Jabali,noted that the SSOs contracts would contribute to the development of the Saudi financial market and its investment tools, and expand the base of channels for investors.

He added that the Capital Market Authority’s selection of four of the largest and most heavily weighted companies in the market for the SSOs contracts confirms the Authority’s keenness on the importance of this investment tool and the necessity of its use by trading and investment professionals in the financial and stock markets.

In a statement, Tadawul announced that SSOs contracts will be available to trade as of Monday, in which investors can trade SSOs on four listed stocks as their underlying assets.

It added that SSOs contracts were the third derivatives product to be introduced in the Saudi Exchange and will be cleared by the Securities Clearing Center Company “Muqassa”.

The first tranche of SSOs will be based on the following listed companies: Aramco, Al Rajhi Bank, Saudi Telecom Co. and SABIC.

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Egypt’s Tourism Minister: We’ve Agreed on Future Initiatives with Saudi Arabia

A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
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Egypt’s Tourism Minister: We’ve Agreed on Future Initiatives with Saudi Arabia

A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)
A glimpse of the visit by the Egyptian Minister of Tourism and Antiquities and his accompanying delegation to the UNWTO office in Saudi Arabia (Asharq Al-Awsat)

Egyptian Tourism Minister Sherif Fathy told Asharq Al-Awsat that he and Saudi Tourism Minister Ahmed Al-Khateeb have agreed to collaborate on several tourism initiatives.

These include joint marketing efforts, shared tourism programs, environmental protection measures, and promoting specific types of tourism in the Red Sea.

Fathy recently visited Riyadh, where he met with Al-Khateeb and engaged with Saudi business leaders. They discussed ways to promote tourism between their countries and increase visitor exchanges.

During his visit to the United Nations World Tourism Organization (UNWTO) regional office in Riyadh, Fathy stated that the office’s presence in Saudi Arabia enhances the organization’s work in the region and improves communication with other countries.

He confirmed that they plan to develop and implement the agreed initiatives in the near future.

Fathy highlighted that the Middle East is a key player in global tourism and deserves a dedicated office to support all countries in the region. This effort aims to boost collaboration and promote the Middle East as a top destination for travelers.

Tourism, National Economy: A Path to Sustainable Growth

Samer Al-Kharashi, Director of the UNWTO regional office for the Middle East, stated that the office supports 13 countries in the region, with Egypt being a key member.

He highlighted that the recent visit by Egypt’s Minister of Tourism and Antiquities, who serves as Vice President of the regional committee, creates opportunities for collaboration.

This partnership aims to boost tourism’s role in the national economy, create jobs, and promote sustainable practices that protect the environment.

Speaking to Asharq Al-Awsat, Al-Kharashi emphasized the potential for cooperation with Egypt, which has a rich tourism history and many ancient sites. He noted that the regional office has the expertise to assist member countries.

Al-Kharashi expressed optimism about the discussions, which covered various opportunities for joint projects that would benefit both Egypt and the wider region.

Strengthening Bilateral Relations

Fathy’s visit to the UNWTO regional office aims to enhance bilateral relations, as Cairo actively seeks to develop its tourism sector through international collaboration.

During their meeting, Fathy and Al-Kharashi addressed key issues facing Egypt’s tourism sector, including challenges and growth opportunities. They explored future cooperation, particularly in tourism training, improving services, and increasing investments.

Egypt ranks first in Africa, fifth in the Middle East, and 63rd globally on the Travel and Tourism Development Index.

The UNWTO regional office in Riyadh is the first of its kind outside the organization’s headquarters, dedicated to supporting member states in the Middle East.

The office focuses on promoting tourism education, improving infrastructure, and fostering sustainable tourism while preserving the region’s cultural and environmental heritage.