Saudi Arabia Operates New Salwa Crossing with Qatar

The Emir of the Eastern Province in Saudi Arabia at the inauguration of the Salwa border crossing with Qatar (Asharq Al-Awsat)
The Emir of the Eastern Province in Saudi Arabia at the inauguration of the Salwa border crossing with Qatar (Asharq Al-Awsat)
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Saudi Arabia Operates New Salwa Crossing with Qatar

The Emir of the Eastern Province in Saudi Arabia at the inauguration of the Salwa border crossing with Qatar (Asharq Al-Awsat)
The Emir of the Eastern Province in Saudi Arabia at the inauguration of the Salwa border crossing with Qatar (Asharq Al-Awsat)

Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, launched on Monday the trial operation of the passengers’ section at the new Salwa crossing, which links Saudi Arabia with Qatar.

He noted that the crossing would primarily contribute to enhancing vehicle and passenger traffic, in addition to promoting trade volume exchange and economic relations between the two Gulf states.

“The Kingdom’s advancement in various fields contributed to achieving sustainable development,” Prince Saud said, adding that many vital projects implemented in Saudi Arabia have become the focus of the world’s attention.

These projects “draw a road map towards a promising future in line with the Kingdom’s 2030 vision, through the development of the infrastructure of the land ports in the Kingdom,” he remarked.

For his part, Governor of Zakat, Tax and Customs Authority of Saudi Arabia Eng. Suhail bin Mohamed Abanmi said that the new Salwa border crossing project has been fully equipped with the essential integrated services and utilities for the clearance of all passing vehicles and passengers.

The border crossing would represent a vital factor in enhancing vehicle and passenger traffic, in addition to promoting trade volume and economic relations between the two countries, he added.

He stressed that the authority has worked on holding a number of strategic partnerships with entities in the public and private sectors, relying on best practices in the design, development and operation of the port infrastructure, thus contributing to strengthening the Kingdom’s economy, and facilitating all land transit operations between the Kingdom and neighboring countries.



Saudi PIF Invests $200 Million in ETF Bond Fund

The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
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Saudi PIF Invests $200 Million in ETF Bond Fund

The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)
The fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). (Asharq Al-Awsat)

State Street Global Advisors, a subsidiary of State Street Corporation, announced that Saudi Arabia’s Public Investment Fund (PIF) has invested SAR 750 million ($200 million) in the newly launched SPDR J.P. Morgan Saudi Aggregate Bond ETF.

According to a statement released by the company on Wednesday, this fund is the first of its kind in Saudi Arabia to focus on fixed-income exchange-traded funds (ETFs). It is listed in both the London Stock Exchange and Germany’s Xetra, offering investors the opportunity to track government and quasi-government bonds denominated in either the Saudi Riyal or the US Dollar, including sukuk (Islamic bonds).

This investment aligns with the objectives of Saudi Vision 2030, representing a significant step toward enhancing the international presence of Saudi Arabia’s financial markets and attracting foreign investments. The fund is available to investors across several European countries, including Austria, Denmark, France, Germany, and Italy.

Commenting on the investment, Yazid Al-Humaid, Deputy Governor and Head of MENA Investments at PIF, said: “The fund continues to create opportunities and enable access to diverse capital markets in the Kingdom. Investing in the first internationally listed Saudi fixed-income ETF underscores PIF’s commitment to deepening Saudi capital markets, attracting investors, and fostering partnerships across global financial centers.”

CEO of State Street Global Advisors Yi-Hsin Hung emphasized that the launch of the fund is a significant milestone in providing innovative opportunities for investors while contributing to Saudi Arabia’s economic growth.