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.



China Expands Visa-free Entry to More Countries in Bid to Boost Economy

Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
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China Expands Visa-free Entry to More Countries in Bid to Boost Economy

Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)
Shoppers with their purchased goods walk past a popular outdoor shopping mall in Beijing, on Nov. 14, 2024. (AP Photo/Andy Wong)

China announced Friday that it would expand visa-free entry to citizens of nine more countries as it seeks to boost tourism and business travel to help revive a sluggish economy.
Starting Nov. 30, travelers from Bulgaria, Romania, Malta, Croatia, Montenegro, North Macedonia, Estonia, Latvia and Japan will be able to enter China for up to 30 days without a visa, Foreign Ministry spokesperson Lin Jian said.
That will bring to 38 the number of countries that have been granted visa-free access since last year. Only three countries had visa-free access previously, and theirs had been eliminated during the COVID-19 pandemic.
The permitted length of stay for visa-free entry is being increased from the previous 15 days, Lin said, and people participating in exchanges will be eligible for the first time. China has been pushing people-to-people exchange between students, academics and others to try to improve its sometimes strained relations with other countries, The Associated Press reported.
China strictly restricted entry during the pandemic and ended its restrictions much later than most other countries. It restored the previous visa-free access for citizens of Brunei and Singapore in July 2023, and then expanded visa-free entry to six more countries — France, Germany, Italy, the Netherlands, Spain and Malaysia — on Dec. 1 of last year.
The program has since been expanded in tranches. Some countries have announced visa-free entry for Chinese citizens, notably Thailand, which wants to bring back Chinese tourists.
For the three months from July through September this year, China recorded 8.2 million entries by foreigners, of which 4.9 million were visa-free, the official Xinhua News Agency said, quoting a Foreign Ministry consular official.