KSA: Mawani Initiatives Limit Rise in Commodity Prices

 Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)
Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)
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KSA: Mawani Initiatives Limit Rise in Commodity Prices

 Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)
Mawani adopts measures to support the stability of commodity prices in the local market. (Asharq Al-Awsat)

The measures and initiatives launched by the Saudi Ports Authority (Mawani) resulted in curbing the sharp rise in global shipping costs, thus limiting the increase of commodity prices that was registered globally following the Covid-19 pandemic.

Thanks to the initiatives launched by Mawani, the increase in commodity prices in the Kingdom was below international rates.

Logistics Specialist Nashmi Al-Harbi told Asharq Al-Awsat that the success of the economic plans could raise the Kingdom’s position in the global logistic performance index, and ensure huge flows in supply chains.

He underlined that Saudi ports were witnessing a significant growth in the number of ships and transshipments. This is a positive and motivating indicator for shipping companies and ship owners, who will put the Saudi ports on the master traffic plan, instead of some other ports, Al-Harbi said.

He added that the programs launched by Mawani were aligned with the goals of Saudi Vision 2030, which seek to transform the Kingdom into a global logistics platform.

The Saudi Ports Authority had implemented 17 qualitative initiatives in support of all beneficiaries of maritime transport services. Those programs contributed to achieving food security and a continued flow of goods and supply chains, in line with the objectives of the national strategy for transport and logistics services.

Moreover, Mawani has adopted a number of exceptional measures, including strengthening partnership with shipping lines, ensuring the efficiency of ship handling operations and facilitating and re-engineering the procedures for loading transshipment containers.

The authority worked on reviewing the obstacles facing shipping lines and finding the appropriate solutions, and organized a number of joint workshops with the private sector to discuss opportunities to support exporters and importers, with the aim of improving the customer experience, facilitating and simplifying procedures and increasing operational efficiency.



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.