Saudi Stores Increase Preparedness for Eid Supplies

Saudi markets witnessed a flourishing season during Eid al-Fitr (Asharq Al-Awsat)
Saudi markets witnessed a flourishing season during Eid al-Fitr (Asharq Al-Awsat)
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Saudi Stores Increase Preparedness for Eid Supplies

Saudi markets witnessed a flourishing season during Eid al-Fitr (Asharq Al-Awsat)
Saudi markets witnessed a flourishing season during Eid al-Fitr (Asharq Al-Awsat)

Shops of jewelry, sweets, gifts and clothing in Saudi Arabia witnessed a flourishing movement during the last ten days of Ramadan, as they prepared for Eid al-Fitr celebrations.

Stores raised their levels of preparedness through a variety of new products and marketing and advertising campaigns while some of them opened 24 hours per day.

The southern region of Jazan saw a thriving purchasing movement in the markets of gold, jewelry, ready-made clothes, and luxuries, and in the popular souks.

A number of shop owners pointed to an increase in the demand for gold during the month of Ramadan, especially in the days preceding Eid Al-Fitr, indicating that this period of the year was considered one of the peak seasons as the markets witness a clear increase in the number of shoppers.

According to a survey by the Saudi Press Agency (SPA), the Al-Baha region (south of the Kingdom) recorded a great demand in sweet shops, which are traditionally served on the morning of the holiday.

In western Saudi Arabia, in Jeddah, the popular markets called “Al-Balad Souks” witnessed a significant purchase movement, with the approaching Eid.

Customers see that the popular souks provide a variety of options, whether in prices or goods, compared to the major centers and markets.

Jewelry shops in Jeddah’s popular markets attract a large number of residents and visitors, who buy gold, ornaments, jewelry and accessories, while the owners of handicrafts and traditional industries master the manufacture of pottery, antiques and some other popular gifts.

Shops, centers and markets in the Tabuk region were dressed with joy and traditional decorations to welcome shoppers, with the start of the countdown to Eid Al-Fitr.

The residents flocked to the shops to buy the finest fragrances, incense and Oud, as part of a tradition to perfume homes to welcome visitors, relatives and friends.

Similarly, markets and commercial complexes in the cities of Arar and Hail (northern Saudi Arabia) witnessed an increasing demand for clothes, personal supplies, gifts, children’s toys, and others, in preparation for Eid al-Fitr.



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.