Saudi Capital Market Forum to Host CONNECT Hong Kong Edition in May

Saudi Arabia represents 70% of the relative weight of the Middle East and North Africa markets in the MSCI Emerging Markets Index. (Asharq Al-Awsat)
Saudi Arabia represents 70% of the relative weight of the Middle East and North Africa markets in the MSCI Emerging Markets Index. (Asharq Al-Awsat)
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Saudi Capital Market Forum to Host CONNECT Hong Kong Edition in May

Saudi Arabia represents 70% of the relative weight of the Middle East and North Africa markets in the MSCI Emerging Markets Index. (Asharq Al-Awsat)
Saudi Arabia represents 70% of the relative weight of the Middle East and North Africa markets in the MSCI Emerging Markets Index. (Asharq Al-Awsat)

Saudi Arabia’s Capital Market Forum is set to enhance ties with China’s capital markets by venturing beyond borders to host the next edition in Hong Kong.
The Capital Market Forum — CONNECT Hong Kong, set for May 9 in the port city, was announced by Khalid Al-Hussan, CEO of Saudi Tadawul Group, during a fireside chat at the Riyadh forum.
The forum, designed to facilitate cross-border investments and foster collaboration, will feature a series of strategic discussions and networking platforms, inviting key financial minds and decision-makers.
Deputy of Financing and Investment Abdullah Binghannam revealed that the Kingdom has commenced its public consultation for the so-called “FMO” framework, aiming to enhance the market’s liquidity and accessibility.
During his participation in a dialogue session within the activities of the Forum, Professor Richard Cormack, Co-Head of Capital Markets in Europe, the Middle East, and Africa and Co-Head of Investment Banking in the United Kingdom at Goldman Sachs, revealed the bank’s expectations that the weight of the Middle East and North Africa markets will reach to 10% on the MSCI Emerging Markets Index, with Saudi Arabia representing 70% of this percentage, according to a research study published by Goldman Sachs.
Cormack stressed that these expectations mean the influx of active and passive investments worth approximately $50 billion into the Kingdom, which contributes to strengthening its position as a leading financial power equivalent to the economic bloc in Latin America, which is considered the largest bloc outside Asia.
Cormack also stressed that the Kingdom continues to record strong performance in line with the performance of advanced financial markets, noting that the profitability factor for stocks traded in the Saudi financial market has reached approximately 21 times, which is the same ratio recorded for stocks traded in the American market.
The Ministry of Human Resources and Social Development and Saudi Exchange signed a new cooperation agreement on the sidelines of the third Saudi Capital Market Forum to launch a Social Responsibility Index.
Furthermore, a memorandum of understanding was signed between the Saudi Tadawul Group and Atrum, supporting artistic initiatives, educational programs, and cultural exchanges within the Kingdom.
SALIC signed an MoU with Tadawul with the aim of establishing the foundations for effective cooperation and integrated coordination between the two parties towards aligning and sharing strategic initiatives in the field of sustainability.
An MoU was signed between Riyad Capital and E Fund to foster knowledge sharing on local investment expertise and stimulate collaboration on developing future investment products.
Meanwhile, the Saudi Capital Market, Muqassa and Swiss cash management company Instimatch Global signed an agreement to launch a Repo Trading Platform for the Kingdom’s market.

 

 

 

 



Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
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Saudi's flynas Strikes Deal for Additional Airbus A320neos, 15 A330s

Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)
Saudi's flynas strikes deal for additional Airbus A320neos, 15 A330s (flynas)

flynas, Saudi Arabia’s leading low-cost carrier, has signed a Memorandum of Understanding (MoU) with Airbus for 75 A320neo family aircraft and 15 A330-900. This strategic agreement will expand the airline's capacity, range and enhance its overall fleet capabilities.
Signed during Farnborough International Airshow in the presence of President of the General Authority of Civil Aviation (GACA) of Saudi Arabia, Abdulaziz bin Abdullah Al-Duailej, Chairman of the Board of NAS Holding Ayed Al Jeaid, flynas Chief Executive Officer & Managing Director Bandar Almohanna, and Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer, Airbus said on its website.
The new aircraft will join the carrier’s all Airbus fleet serving international, domestic and regional routes. The new A330-900 aircraft will boast a two-class configuration, accommodating up to 400 passengers.
"We are excited to further strengthen our long-standing partnership with Airbus," said Bander Almohanna, CEO and Managing Director of flynas. "The A320neo Family provides exceptional operational performance and environmental benefits, allowing us to offer unique, low-cost travel experiences. Additionally, the A330neowill enhance our long-haul capabilities with its advanced technology and efficiency while supporting our growth plans and Saudi Arabia’s pilgrim program."
Airbus Chief Executive Officer, Commercial Aircraft, Christian Scherer said, "We are delighted to expand our partnership with flynas through this significant milestone for both A320neo and A330-900 aircraft. The A330neo will allow flynas to further grow into widebody markets by building on the A320, benefiting from Airbus’ unique commonality. Both aircraft types offer flynas the perfect versatility and economics to expand into new markets while offering their passengers the latest cabin experience and comfort. We look forward to continuing our successful collaboration with flynas as they embark on this exciting new chapter."
The addition of the A330-900 aircraft will support flynas' ambitious growth plans. The airline anticipates significant operational efficiency gains by combining the new widebody aircraft with its existing A320neo fleet. The A330-900 offers increased capacity and range at unrivaled seat costs, ensuring flynas can compete effectively in the growing regional market, a key focus area for the airline.
The A330neo delivers unbeatable operating economics, powered by the latest-generation Rolls-Royce Trent 7000 engines, featuring new wings and a range of aerodynamic innovations resulting in a 25 percent reduction in fuel consumption and CO₂ emissions compared to previous generation competitor aircraft. The A330neo is capable of flying 8,150 nm / 15,094 km non-stop, providing ultimate comfort with more passenger space, a new lighting system, latest in-flight entertainment systems and full connectivity throughout the cabin.
As with all Airbus aircraft, the A330 family is already able to operate with up to 50% Sustainable Aviation Fuel (SAF). The manufacturer is targeting to have its aircraft up to 100% SAF capable by 2030.