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Foreign Investor Shares in Saudi Stock Market Settle Above 5%

A Saudi trader monitors stocks at the Saudi stock market in Riyadh. Reuters/Faisal Nasser
A Saudi trader monitors stocks at the Saudi stock market in Riyadh. Reuters/Faisal Nasser
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Foreign Investor Shares in Saudi Stock Market Settle Above 5%

A Saudi trader monitors stocks at the Saudi stock market in Riyadh. Reuters/Faisal Nasser
A Saudi trader monitors stocks at the Saudi stock market in Riyadh. Reuters/Faisal Nasser

The shares of foreign investors in the Saudi stock market reached 5.06 percent end of August, exceeding five percent for the second month in a row.

The market value of the shares has inched close to SAR100 billion (USD26.6 billion), reaching at the end of August tradings to SAR95.9 billion (USD25.5 billion).

The data comes as a report by the Saudi Ministry of Commerce and Investment revealed a growth in the profitability of the Saudi private sector in 2017. Sectors that enjoyed the most growth were administrative consultations, manufacturing of equipment, mining, recycling, natural gas, financial consultation activities, training, education, maintenance, agricultural activities, administrative facilities and warehouses of medical and pharmaceutical products.

Qawaem 2017 report revealed that the growth included revenues of the refined oil products industry, chemical products industry, education, agriculture, fishing, medicines, pharmaceuticals, health, food products, media, and publishing.

All institutions of the private sector are compelled to provide Qawaem with financial lists of 2017, within a determined period after the end of the fiscal year. The program aims to improve and increase work efficiency and take advantage of the financial statements to provide information and services unique to the beneficiaries, stakeholders, and shareholders.

According to the General Authority for Statistics, the domestic product of the non-oil sector in Saudi Arabia achieved positive growth of 1.6 percent during the first quarter of the current year, while that of the non-oil sector reached around 2.7 percent during the same period.

The economy expanded at an annual rate of 1.2 percent in the first quarter, according to the authority. 

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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
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Saudi Arabia Makes History with Adoption of Riyadh Treaty on Design Law

Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)
Photo of the Riyadh Diplomatic Conference on the Design Law Treaty (Asharq Al-Awsat)

Saudi Arabia has made history by uniting the 193 member states of the World Intellectual Property Organization (WIPO) to adopt the Riyadh Treaty on Design Law. This landmark achievement, realized after two decades of deliberation, underscores the Kingdom’s leadership in enhancing the global intellectual property system.

The announcement came at the conclusion of the Riyadh Diplomatic Conference on the Design Law Treaty, a rare event for WIPO, which has not held a diplomatic conference outside Geneva for more than a decade. It was also the first such event hosted in Saudi Arabia and the Middle East, representing the final stage of negotiations to establish an agreement aimed at simplifying and standardizing design protection procedures across member states.

Over the past two weeks, intensive discussions and negotiations among member states culminated in the adoption of the Riyadh Treaty, which commits signatory nations to a unified set of requirements for registering designs, ensuring consistent and streamlined procedures worldwide. The agreement is expected to have a significant positive impact on designers, enabling them to protect their creations more effectively and uniformly across international markets.

At a press conference held on Friday to mark the event’s conclusion, CEO of the Saudi Authority for Intellectual Property Abdulaziz Al-Suwailem highlighted the economic potential of the new protocol.

Responding to a question from Asharq Al-Awsat, Al-Suwailem noted the substantial contributions of young Saudi men and women in creative design. He explained that the agreement will enable their designs to be formally protected, allowing them to enter markets as valuable, tradable assets.

He also emphasized the symbolic importance of naming the convention the Riyadh Treaty, stating that it reflects Saudi Arabia’s growing influence as a bridge between cultures and a global center for innovative initiatives.

The treaty lays critical legal foundations to support designers and drive innovation worldwide, aligning with Saudi Arabia’s vision of promoting international collaboration in the creative industries and underscoring its leadership in building a sustainable future for innovators.

The agreement also advances global efforts to enhance creativity, protect intellectual property, and stimulate innovation on a broader scale.

This achievement further strengthens Saudi Arabia’s position as a global hub for groundbreaking initiatives, demonstrating its commitment to nurturing creativity, safeguarding designers’ rights, and driving the development of creative industries on an international scale.

The Riyadh Diplomatic Conference, held from November 11 to 22, was hosted by the Saudi Authority for Intellectual Property and attracted high-ranking officials and decision-makers from WIPO member states.