Saudi Stock Exchange Gains Jump 17.5% Since Beginning of 2019

Faisal Al Nasser / Reuters
Faisal Al Nasser / Reuters
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Saudi Stock Exchange Gains Jump 17.5% Since Beginning of 2019

Faisal Al Nasser / Reuters
Faisal Al Nasser / Reuters

Saudi stock exchange gains jumped 17.5 percent since the beginning of the year, making it one of the world's most profitable stock markets in the first months of 2019.

In this regard, foreign investors continued to purchase in the Saudi stock market, as the latest statistics from the Saudi Stock Exchange (Tadawul) revealed that the foreign investors' share rose to 5.48% and that net foreign investors' liquidity reached 7.8% in favor of orders (purchase).

This new rise in foreign investment towards the Saudi stocks market represents an important indication of the high reliability of the country's financial market and reflects confidence in the strength and vitality of the Saudi economy.

In this context, the Saudi exchange index closed this week at a rise of around 109 points, at a level of 9,197 points compared to 9,088 points. It continued to rise for the sixth week in a row. Trading value witnessed a remarkable growth of SAR16.73 billion (USD4.46 billion) compared to around SAR15.53 billion (USD4.14 billion) in the past week.

The report by Tadawul, issued on Sunday, showed the rise of Gulf investors possession in the Saudi shares market to 2.04 percent.

In 2018, the Saudi listed companies recorded positive growth in profits up to SAR105.3 billion (USD28.08 billion).

Inclusion of Saudi Arabia into the S&P Dow Jones Emerging Market and FTSE Russell indices was an acknowledgment of the investors' continuous confidence in the market, which reflects the success of reforms and enhancements accomplished in tandem with Saudi Vision 2030 and the Financial Sector Development Program.



FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
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FAO Aims for Key Outcomes at COP16 in Saudi Arabia

Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)
Preparations in the Saudi capital ahead of hosting the COP16 conference on combating desertification (from the “COP16” page on the X platform)

Dr. Abdul Hakim Elwaer, Assistant Director-General of the Food and Agriculture Organization (FAO), stated that the organization will take an active role at COP16, the UN conference on combating desertification, scheduled to take place in Saudi Arabia in early December.

In remarks to Asharq Al-Awsat, he expressed confidence that the conference—the first of its kind in the Middle East—would produce significant outcomes.

Elwaer’s comments came during a roundtable organized by FAO’s regional office in Cairo, attended by a select group of media representatives. The session focused on FAO’s participation in the upcoming conference and the importance of the Rio Trio —the integrated framework of the three major UN conventions addressing climate change, biodiversity conservation, and desertification.

Fida Haddad, FAO’s Program Officer for Land Rehabilitation and Climate Change, highlighted the interconnectedness of the three conventions and noted that COP16 would place a strong emphasis on land and water rehabilitation and their sustainable management.

Haddad pointed out that approximately 90% of the Middle East is affected by arid conditions. Despite this, local communities and Arab governments have made notable progress in addressing desertification and drought. She also announced that, for the first time, FAO has successfully placed food systems on the COP16 agenda, enabling discussions on how land rehabilitation can enhance food supply chains and systems.

Elwaer underscored FAO’s central role in achieving the second Sustainable Development Goal (SDG): eradicating hunger. He emphasized that FAO actively engages in the UN conventions on climate change, biodiversity, and desertification, which collectively contribute to this mission.

FAO’s focus, according to Elwaer, is on transforming food and agricultural systems to become more inclusive, efficient, and sustainable, aiming for better production, nutrition, and livelihoods. He highlighted the organization’s success in integrating these priorities into the agendas of the three conventions and collaborating with host countries on joint initiatives.

He further noted that Saudi Arabia’s hosting of COP16 is particularly significant for the region, which faces pressing challenges such as water scarcity, desertification, and food insecurity. The conference presents an opportunity for Middle Eastern nations to highlight these issues, explore solutions, and ensure their inclusion in global environmental discussions, not only at this event but in future COP sessions, he underlined.

Elwaer emphasized the growing global attention on desertification, as it is now impacting regions previously unaffected, such as southern Europe and parts of Latin America. These areas are witnessing alarming declines in arable land and forests, prompting them to seek lessons from the Arab world, which has developed resilience strategies to combat desertification over centuries.

FAO will have a strong presence at COP16, with two dedicated pavilions—one in the Blue Zone for official delegations and another in the Green Zone to engage civil society and conference participants, he said.

He added that in collaboration with Saudi Arabia and the UN, FAO will lead coordination on Food Day and Governance Day, scheduled for December 5 and 6, respectively. The organization will also participate in other specialized sessions throughout the conference.