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Tadawul Launches TASI50 to Track Top 50 Listed Companies

TASI50 index serves as a benchmark for exchange-traded funds (ETFs), futures, options, and other financial products (Asharq Al-Awsat)
TASI50 index serves as a benchmark for exchange-traded funds (ETFs), futures, options, and other financial products (Asharq Al-Awsat)
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Tadawul Launches TASI50 to Track Top 50 Listed Companies

TASI50 index serves as a benchmark for exchange-traded funds (ETFs), futures, options, and other financial products (Asharq Al-Awsat)
TASI50 index serves as a benchmark for exchange-traded funds (ETFs), futures, options, and other financial products (Asharq Al-Awsat)

The Saudi Exchange Co. (Tadawul) launched on Sunday the TASI50 Index, which tracks the top 50 companies ranked by total market capitalization listed on the Saudi Exchange.

Tadawul said in a statement that constituents in the index cover 90% of the free float market cap with a minimum annual traded value ratio (ATVR) of 5%, ensuring that the index comprehensively represents the largest companies in the market.

It explained that the TASI50 index serves as a benchmark for exchange-traded funds (ETFs), futures, options, and other financial products and enables tracking the performance of the largest companies at the market level.

Launching the TASI50 Index is a significant milestone towards achieving the Financial Sector Development Program of Vision 2030.

The index provides a benchmark for investment products, allowing both local and foreign investors to access a wide range of investment opportunities in the dynamic and growing Saudi capital market, Tadawul further explained.

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Emir of Qatar: Inauguration of Two Solar Projects Part of Transition to Renewable Energy

Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)
Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)
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Emir of Qatar: Inauguration of Two Solar Projects Part of Transition to Renewable Energy

Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)
Emir of Qatar Sheikh Tamim bin Hamad Al Thani at the inauguration of two strategic solar power projects in Ras Laffan and Mesaieed. (X)

Emir of Qatar Sheikh Tamim bin Hamad Al Thani inaugurated on Monday two strategic solar power projects in Ras Laffan and Mesaieed with a combined capacity of 875 megawatts (MW).

The projects will more than double Qatar’s solar energy production to 1,675MW of renewable energy.

“The inauguration of two strategic solar power projects in Ras Laffan and Mesaieed comes within the framework of the country's plans to transition to renewable energy, diversify energy sources, and support strategic development projects,” the Emir said.

In a post on his official account on X, Sheikh Tamim wrote, “As part of plans to transition to renewable energy, the Emir inaugurated today two strategic solar power projects in Ras Laffan and Mesaieed,” according to state-run Qatari news agency, QNA.

These plants are also intended to leverage the potential of low-carbon energy in sustainability plans and efforts to mitigate environmental impacts, he added.

Minister of State for Energy Affairs Saad bin Sherida Al Kaabi said the two plants are a fundamental step towards achieving the fourth pillar of the Qatar National Vision 2030, which is environmental management to ensure harmony and consistency between economic and social development and environmental protection.

“It also achieves one of the goals of Qatar's energy sustainability strategy, which is to generate more than 4,000 megawatts of renewable energy by 2030,” said Al Kaabi, who is also President and CEO of QatarEnergy.

These plants are expected to reduce carbon dioxide emissions by about 4.7 million tons annually.

The two stations, he said, along with the Al-Kharsaah plant, will play a significant role in meeting the country's electricity demand, contributing about 15% of the total peak electricity demand.