Saudi Shares Outperform on $1.3 Trillion Private Investment Push

Saudi Arabia’s stock market rose sharply on Wednesday, after the country announced a huge investment push led by Aramco and SABIC. (Reuters file photo)
Saudi Arabia’s stock market rose sharply on Wednesday, after the country announced a huge investment push led by Aramco and SABIC. (Reuters file photo)
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Saudi Shares Outperform on $1.3 Trillion Private Investment Push

Saudi Arabia’s stock market rose sharply on Wednesday, after the country announced a huge investment push led by Aramco and SABIC. (Reuters file photo)
Saudi Arabia’s stock market rose sharply on Wednesday, after the country announced a huge investment push led by Aramco and SABIC. (Reuters file photo)

Saudi Arabia’s stock market rose sharply on Wednesday, after the country announced a huge investment push led by Aramco and SABIC, while other major Gulf markets were mixed.

Crown Prince Mohammed bin Salman said oil firm Aramco and petrochemical firm SABIC would lead 5 trillion riyals ($1.3 trillion) of investments by the local private sector by 2030 under a program announced on Tuesday for economic diversification.

This is part of 12 trillion riyals worth of investments planned by 2030, Crown Prince Mohammed said in televised remarks.

Saudi Arabia’s benchmark index advanced 2.8%, its biggest intraday gain since April last year, as all its banking shares traded higher except for one.

Al Rajhi Bank leapt 5.1%, while Saudi Basic Industries Corp (SABIC) climbed 5.6%. Saudi Aramco closed 2.7% higher.

In Dubai, the benchmark index eased 0.3%, hit by a 0.8% fall in blue-chip developer Emaar Properties and a 2.4% slide in DAMAC Properties.

The Qatari index added 0.2%, with Commercial Bank rising 3.2%.

However, Aamal Company declined over 5%, as the stock went ex-dividend.

Outside the Gulf, Egypt’s blue-chip index fell 1.6%, as most of the stocks on the index retreated including Commercial International Bank, which was down 1.6%.



High-Level Saudi Delegation Arrives in Syria to Strengthen Ties, Explore Investments

This handout picture released by the official Syrian Arab News Agency (SANA) shows Saudi Arabia's Investment Minister Khalid bin Abdulaziz al-Falih (C-L) and his delegation being received at Damascus International Airport on July 23, 2025. (SANA/AFP/Handout)
This handout picture released by the official Syrian Arab News Agency (SANA) shows Saudi Arabia's Investment Minister Khalid bin Abdulaziz al-Falih (C-L) and his delegation being received at Damascus International Airport on July 23, 2025. (SANA/AFP/Handout)
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High-Level Saudi Delegation Arrives in Syria to Strengthen Ties, Explore Investments

This handout picture released by the official Syrian Arab News Agency (SANA) shows Saudi Arabia's Investment Minister Khalid bin Abdulaziz al-Falih (C-L) and his delegation being received at Damascus International Airport on July 23, 2025. (SANA/AFP/Handout)
This handout picture released by the official Syrian Arab News Agency (SANA) shows Saudi Arabia's Investment Minister Khalid bin Abdulaziz al-Falih (C-L) and his delegation being received at Damascus International Airport on July 23, 2025. (SANA/AFP/Handout)

In line with the directives of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, the Ministry of Investment, in coordination with the Federation of Saudi Chambers of Commerce, kicked off a high-level working visit to Syria on Wednesday.

The visit aims to strengthen and advance the fraternal bonds and historical ties between Saudi Arabia and Syria, and support Syria’s economic recovery and development.

The Saudi delegation, comprising senior officials from both the public and private sectors, aims to explore promising investment opportunities, facilitate bilateral cooperation, and address challenges facing investors to deepen economic ties and support companies from both countries.

The Ministry of Investment is seeking to empower the Saudi private sector to contribute to Syria’s reconstruction and development by identifying interested companies and organizing a series of introductory workshops.

On the sidelines of the visit, the Saudi-Syrian Investment Forum will be held in Damascus, where several joint projects, investment agreements, and memoranda of understanding will be announced, underscoring the Kingdom’s commitment to building a sustainable and strategic economic partnership with Syria.