Latest news with #TadawulGroup
Argaam
5 days ago
- Business
- Argaam
Saudi Arabia set to sign 47 deals worth SAR 24B: Al-Falih
Saudi Arabia's Minister of Investment Khalid Al-Falih said that 47 agreements and memoranda of understanding will be signed in various sectors at a total value of nearly SAR 24 billion during the Saudi-Syrian Investment Forum. In his speech during the forum, Al-Falih indicated that agreements worth more than SAR 11 billion will be signed in the infrastructure and real estate development sectors, including the establishment of more than three new cement plants. Additionally, Saudi telecommunications and technology companies will sign agreements worth nearly SAR 4 billion to develop digital infrastructure and automation, enhance cybersecurity capabilities, and build advanced systems in programming, artificial intelligence, and data centers in Syria. Moreover, Bayt Alebaa Co. will sign an agreement to build a distinguished residential and commercial project in Homs, at a cost estimated at billions of riyals. An agreement will also be signed between the Saudi Tadawul Group and the Damascus Securities Exchange to further strengthen joint cooperation in the field of Fintech, dual listings, financial data exchange, and the launch of investment and financing funds, which will have a motivating impact on investment in Syria, according to the minister. He pointed out that the agricultural sector in Syria is vital and has promising potential, saying he is looking forward to working with the Syrian side to develop qualitative joint projects, including model farms and manufacturing industries, in addition to knowledge and technical exchange. Al-Falih also stated that Crown Prince Mohammed bin Salman has directed the immediate establishment of a Saudi-Syrian Business Council. He highlighted the steps taken by the Syrian government to boost the investment climate, most notably the amendment of the investment law, in addition to initiatives to urgently finalize the investment protection agreement between Saudi Arabia and Syria, which will enter into force soon and with exceptional speed.
The Star
29-05-2025
- Business
- The Star
Hong Kong, Saudi Arabia may approve more cross-border financial products
HONG KONG/SYDNEY: Hong Kong and Saudi Arabia are considering allowing more cross-border financial products, authorities said on Thursday, as the two markets seek to deepen financial ties amid rising trade uncertainties. An exchange-traded fund tracking bonds issued by the Saudi government started trading in Hong Kong on Thursday, the first fixed-income fund listed in the territory to offer such exposure. Apart from the fund, more products - such as a sharia-compliant Sukuk bond and a real estate investment trust - are "in the pipeline" for approval to trade between Hong Kong and Riyadh, said Julia Leung, CEO of Hong Kong's Securities and Futures Commission. "We're very comfortable in the cross listing of whatever products," Leung told those attending the Capital Markets Forum organised by Saudi exchange operator Tadawul Group. Hong Kong launched Asia's first ETF tracking Saudi equities in November 2024, as the two markets look to spur capital flows as diplomatic relations warm between Beijing and Riyadh. In the last few years, Hong Kong has been seen wooing Saudi Aramco to list in the city, a deal that would allow investors in the Asian financial hub easier access to the Saudi state oil giant. Apart from stocks, there are opportunities for bonds, derivatives and other financial products between Hong Kong and the Middle East, Hong Kong's Financial Secretary Paul Chan said at the forum, when asked about the progress of a potential listing of Saudi Aramco. The expansion of cross-border products coincides with rising trade tensions after U.S. President Donald Trump unleashed sweeping tariff measures in April roiling global markets. A U.S. trade court on Wednesday blocked the tariffs from going into effect, ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. Asked how countries and companies should navigate the uncertainty of trade deals following the U.S. court block, Chan said the move would "at least bring President Trump to reason". - Reuters
CNBC
29-05-2025
- Business
- CNBC
Hong Kong Financial Secretary says U.S. court order on Trump's 'reciprocal' tariffs will bring him 'to reason'
Hong Kong Financial Secretary Paul Chan said that a U.S. federal trade court decision to strike down President Donald Trump's worldwide reciprocal tariffs would "at least bring President Trump to reason." Chan also commented about de-dollarization trend and what it means for the Hong Kong dollar, in response to a question by CNBC's Emily Chan at the Capital Markets Forum fireside chat organized by Saudi exchange operator Tadawul Group.
Zawya
29-05-2025
- Business
- Zawya
Hong Kong, Saudi Arabia may approve more cross-border financial products
HONG KONG/SYDNEY - Hong Kong and Saudi Arabia are considering allowing more cross-border financial products, authorities said on Thursday, as the two markets seek to deepen financial ties amid rising trade uncertainties. An exchange-traded fund tracking bonds issued by the Saudi government started trading in Hong Kong on Thursday, the first fixed-income fund listed in the territory to offer such exposure. Apart from the fund, more products - such as a sharia-compliant Sukuk bond and a real estate investment trust - are "in the pipeline" for approval to trade between Hong Kong and Riyadh, said Julia Leung, CEO of Hong Kong's Securities and Futures Commission. "We're very comfortable in the cross listing of whatever products," Leung told those attending the Capital Markets Forum organised by Saudi exchange operator Tadawul Group. Hong Kong launched Asia's first ETF tracking Saudi equities in November 2024, as the two markets look to spur capital flows as diplomatic relations warm between Beijing and Riyadh. In the last few years, Hong Kong has been seen wooing Saudi Aramco to list in the city, a deal that would allow investors in the Asian financial hub easier access to the Saudi state oil giant. Apart from stocks, there are opportunities for bonds, derivatives and other financial products between Hong Kong and the Middle East, Hong Kong's Financial Secretary Paul Chan said at the forum, when asked about the progress of a potential listing of Saudi Aramco. The expansion of cross-border products coincides with rising trade tensions after U.S. President Donald Trump unleashed sweeping tariff measures in April roiling global markets. A U.S. trade court on Wednesday blocked the tariffs from going into effect, ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the United States than they buy. Asked how countries and companies should navigate the uncertainty of trade deals following the U.S. court block, Chan said the move would "at least bring President Trump to reason". (Reporting by Selena Li in Hong Kong; Scott Murdoch in Sydney; Editing by Muralikumar Anantharaman and Kate Mayberry)
Free Malaysia Today
29-05-2025
- Business
- Free Malaysia Today
Hong Kong, Saudi Arabia may approve more cross-border financial products
An exchange-traded fund tracking bonds issued by the Saudi government has started trading in Hong Kong. (AP pic) HONG KONG : Hong Kong and Saudi Arabia are considering allowing more cross-border financial products, authorities said today, as the two markets seek to deepen financial ties amid rising trade uncertainties. An exchange-traded fund tracking bonds issued by the Saudi government started trading in Hong Kong today, the first fixed-income fund listed in the territory to offer such exposure. Apart from the fund, more products – such as a sharia-compliant Sukuk bond and a real estate investment trust – are 'in the pipeline' for approval to trade between Hong Kong and Riyadh, said Julia Leung, CEO of Hong Kong's Securities and Futures Commission. 'We're very comfortable in the cross listing of whatever products,' Leung told those attending the Capital Markets Forum organised by Saudi exchange operator Tadawul Group. Hong Kong launched Asia's first ETF tracking Saudi equities in November 2024, as the two markets look to spur capital flows as diplomatic relations warm between Beijing and Riyadh. In the last few years, Hong Kong has been seen wooing Saudi Aramco to list in the city, a deal that would allow investors in the Asian financial hub easier access to the Saudi state oil giant. Apart from stocks, there are opportunities for bonds, derivatives and other financial products between Hong Kong and the Middle East, Hong Kong's financial secretary Paul Chan said at the forum, when asked about the progress of a potential listing of Saudi Aramco. The expansion of cross-border products coincides with rising trade tensions after US President Donald Trump unleashed sweeping tariff measures in April roiling global markets. A US trade court blocked the tariffs from going into effect yesterday, ruling that the president overstepped his authority by imposing across-the-board duties on imports from nations that sell more to the US than they buy. Asked how countries and companies should navigate the uncertainty of trade deals following the US court block, Chan said the move would 'at least bring President Trump to reason'.
