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Saudi Debt Capital Market to Take on Larger Role in Financing ‘Vision 2030’

Saudi Debt Capital Market to Take on Larger Role in Financing ‘Vision 2030’
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Saudi Debt Capital Market to Take on Larger Role in Financing ‘Vision 2030’

Saudi Debt Capital Market to Take on Larger Role in Financing ‘Vision 2030’

Saudi Arabia's debt capital market, the largest in the Middle East, is set to grow and take on a larger role in financing Vision 2030, revealed a credit report prepared by S&P Global Ratings.

Moreover, the agency said it expects to see gradually greater use of Saudi Arabian riyal-denominated issuance as the local market develops.

Nevertheless, the currency peg between the US dollar and the riyal, which the agency predicted would remain, could help attract foreign investors actively hunting for yield in an environment of low interest rates.

According to S&P Global Ratings, a gradual deepening of the local capital market would likely increase levels of transparency and could reinforce governance practices in Saudi Arabia in coming years.

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Report: EU to Vote on Oct 4 to Finalize Tariffs for China-made EVs

A Leapmotor electric vehicle is put though a rain test on the production line at the Leapmotor factory in Jinhua, China's eastern Zhejiang province on September 18, 2024. (Photo by ADEK BERRY / AFP)
A Leapmotor electric vehicle is put though a rain test on the production line at the Leapmotor factory in Jinhua, China's eastern Zhejiang province on September 18, 2024. (Photo by ADEK BERRY / AFP)
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Report: EU to Vote on Oct 4 to Finalize Tariffs for China-made EVs

A Leapmotor electric vehicle is put though a rain test on the production line at the Leapmotor factory in Jinhua, China's eastern Zhejiang province on September 18, 2024. (Photo by ADEK BERRY / AFP)
A Leapmotor electric vehicle is put though a rain test on the production line at the Leapmotor factory in Jinhua, China's eastern Zhejiang province on September 18, 2024. (Photo by ADEK BERRY / AFP)

The European Union is planning to vote on whether to introduce tariffs as high as 45% on imported electric vehicles made in China on Oct. 4, Bloomberg News reported on Saturday, citing people familiar with the matter.
Member states have received a draft of the regulation for the proposed measures, the report said, adding that the new date could still change.
According to the report, the vote among the bloc's member states was slightly delayed amid last-minute negotiations with Beijing to try to find a resolution that would avoid the new levies.
The European Commission did not immediately respond to a Reuters request for comment.
The European Commission is on the verge of proposing final tariffs of up to 35.3% on EVs built in China, on top of the EU's standard 10% car import duty.
The proposed final duties will be subject to a vote by the EU's 27 members. They will be implemented by the end of October unless a qualified majority of 15 EU members representing 65% of the EU population votes against the levies.