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Private, Public Investment Funds Jump 4% in Saudi Arabia

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

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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)
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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.