عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Private, Public Investment Funds Jump 4% in Saudi Arabia

Saudi Capital Market Authority (CMA) logo
Saudi Capital Market Authority (CMA) logo
TT
TT

Private, Public Investment Funds Jump 4% in Saudi Arabia

Saudi Capital Market Authority (CMA) logo
Saudi Capital Market Authority (CMA) logo

The value of public and private investment funds increased 4 percent during the third quarter of 2018 compared to the previous quarter, with a total assets value of $75.6 billion, which is a new indicator of the increase in the volume of institutional investments in the Saudi stock market.

The investment fund includes a portfolio of securities selected based on specific criteria that meet the fund's investment objectives, according to the Saudi Capital Market Authority (CMA).

The profits of mutual funds are usually capital gains, meaning, profits that result following an improvement or change in the prices of invested securities, in addition to dividend profits, if any, for securities.

The increase in fund assets is due to a 9 percent increase in the value of private fund assets compared to Q2 2018 and reaching $ 44.1 billion.

About 330,800 members subscribed to the public and private investment fund this year, up from 315,100 in Q2 2018. This increase coincided with a 5 percent increase in the number of public investment funds to reach about 326,900 subscribers.

In terms of such type of investments in these funds, the assets of both securities and equity markets accounted for 77 percent of the total assets of public funds at about $18.5 billion and $5.78 billion respectively.

These developments come at a time when the number of companies and institutions in Saudi Arabia jumped 35 percent during this year’s Q3, compared to the same period of 2017.

In this regard, the Ministry of Commerce and Industry revealed a steady rise in the number of companies and institutions in the third quarter of 2018 compared to the same period in 2017 and 2016.

During the third quarter of 2018, a number of existing institutions recorded a 35 percent growth to reach 945,600 compared to the same period in 2017. The number of enterprises reached 824,700 compared to 701,300 in the third quarter in 2016.

The number of limited liability companies increased 25 percent during the third quarter of 2018 to reach 108,400 companies, compared to the same period in 2017 where the number was 96,700.

Most Viewed

 
 
Business

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)
TT
TT

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.