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Saudi Stock Market Value Settles at USD 482.6bn

A trader uses his mobile as he monitors screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh June 15, 2015. REUTERS/Faisal Al Nasser/File Photo Reuters
A trader uses his mobile as he monitors screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh June 15, 2015. REUTERS/Faisal Al Nasser/File Photo Reuters
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Saudi Stock Market Value Settles at USD 482.6bn

A trader uses his mobile as he monitors screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh June 15, 2015. REUTERS/Faisal Al Nasser/File Photo Reuters
A trader uses his mobile as he monitors screens displaying stock information at the Saudi Stock Exchange (Tadawul) in Riyadh June 15, 2015. REUTERS/Faisal Al Nasser/File Photo Reuters

The market value of Saudi shares settled at SAR1.81 trillion (USD482.6 billion), with the local market preparing to list and trade shares of Leejam Sports Company starting Monday.

Market attractiveness has been reinforced by profit gaining operations witnessed by the Saudi stock market in the past days.

In this context, Tadawul announced that starting Monday (Sep. 10) Leejam Sports Company will be listed and traded – daily fluctuation rate of the share price would be 10 percent.

Saudi stock exchange concluded last week’s trading, dropping around 3.3 percent i.e. 260 points, closing at 7,688 points compared to the previous week closure at 7,948 points.

The Saudi shares market managed to retain a huge part of its gains achieved in 2018, in which the Saudi shares market index is accomplishing a positive performance of 6.5 percent during the current year.

Saudi shares index closed at 7687.76 points with a trading value of more than SAR3.7 billion (USD1 billion approximately). The total number of traded shares on Thursday exceeded 159 million shares distributed over 124,000 deals.

These developments coincide with the issuance of the 54th SAMA Annual Report that has proven the stability of the financial sector in Saudi Arabia, marking a 6.3 percent growth in the local banks' capitals and reserves in 2017.

SAMA Report reviewed the monetary and banking developments in the kingdom during 2017 in addition to the latest updates regarding the foreign sector and the oil and non-oil sectors, not to mention funding and insurance activities.

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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.