Saudi Press

Saudi Arabia and the world
Tuesday, May 21, 2024

MSCI Adds Eight New Saudi Companies to Global and Small Cap Indexes

MSCI Adds Eight New Saudi Companies to Global and Small Cap Indexes

Eight new Saudi companies have been added to MSCI's Global and Small Capital Indexes, showcasing the Kingdom's increasing impact on international investment.
SAL Saudi Logistics Services Co. was included in the MSCI Global Standard Index, while seven stocks, including Al-Babtain Power & Telecommunication, Etihad Atheeb Telecom, and Mediterranean and Gulf Insurance and Reinsurance Group, were added to the Small Cap Index.

Additional inclusions were Middle Mast Pharmaceutical Industries Co. (Avalon Pharma), Saudi Advanced Industries Co., Saudi Paper Manufacturing Co., and Walaa Cooperative Insurance Co. Six companies were removed from the Small Cap Index: Amlak International for Real Estate Development & Finance Co. (Amlak), Fawaz Abdulaziz Al Hokair & Co. (Cenomi Retail), Methanol Chemicals Co., and Riyad REIT.

MSCI is making changes to the Saudi Stock Exchange, removing some companies from the Small Cap Index and adding others to the Global Standard Index.

The number of Saudi companies in the Global Standard Index will be 41, while the Small Cap Index will have 80.

Aramco, Al-Rajhi Bank, Riyad Bank, Alinma Bank, National Commercial Bank, SABB, Saudi Investment Bank, SABIC, Advanced Petrochemical, and Saudi Basic Industries Corp. are among the companies included in the Global Standard Index, reflecting the diverse economic landscape of Saudi Arabia, with a focus on oil, banking, and industry.

The changes will take effect on May 31.

Saudi Arabia is home to several leading companies in various industries, including agribusiness (SABIC Agri-Nutrients, Kayan, Yansab, and Ma’aden), telecommunications and technology (stc and solutions by stc), healthcare (Bupa Arabia for Cooperative Insurance Co., Dr Sulaiman Al Habib Medical Services Group Co., Al-Mouwasat, Dallah Healthcare, and Al-Nahdi Medical Co.), retail and consumer goods (Jarir Marketing Co., Almarai Co., and Savola Group), energy (Saudi Electricity Co., ACWA Power, and Power and Water Utility Co. for Jubail and Yanbu), media and research (Saudi Research and Media Group), finance (Tadawul Group), and logistics (Luberef, ADES Holding Co., and SAL Saudi Logistics Services Co.).

These companies demonstrate the diverse and dynamic corporate environment in Saudi Arabia.

The MSCI Small Cap Index in Saudi Arabia includes a variety of companies from different sectors.

Some of these companies are Saudi Cement, Ataa Educational Co., Al-Rajhi Takaful, eXtra, and Arriyadh Development Co., also known as Tameer.

MSCI is a leading provider of investment tools and services for the global investment industry.

Related Articles

Saudi Press
Death of Iran's President Raisi Stirs Succession Race for Supreme Leader
ICC Seeks Arrest Warrants for Israeli and Hamas Leaders
Saudi Arabia's Flourishing Venture Capital Sector Attracts International Investments
Saudi Aviation Sector Boosts Economy with $21 Billion Contribution
Blinken orders crackdown on Israel-Hamas leaks
Future Aviation Forum 2024 to Propel Saudi Arabia’s Vision 2030
What Happens If an Iranian President Dies in Office?
Iranian President Ebrahim Raisi Reportedly Killed in Helicopter Crash
Saudi Arabia Advances Procurement and Supply Chain Innovation
Saudi Arabia’s Holdings in US Treasuries Rise to $135.9 Billion
Saudi Arabia Emerges as a Hub for Sustainable Technology Manufacturing
UN General Assembly Approves Palestinian Membership Bid
Teens Forming Friendships with AI Chatbots
WhatsApp Rolls Out Major Redesign
Neuralink's First Brain Implant Experiences Issue
Apple Unveils New iPad Pro with M4 Chip, Misleading AI Claims
OpenAI to Announce Google Search Competitor
Apple Apologizes for Controversial iPad Pro Ad Featuring Instrument Destruction
FedEx Airlines Boeing 767 cargo plane lands on nose at Istanbul Airport
Apple Faces Significant Sales Decline Amid AI Integration Delay
Netanyahu's Firm Stance Amid Rafah Hostage Talks
BlackRock to Establish Saudi Investment Firm
Dubai's New Al Maktoum International Airport: World's Largest with ₹2900 Crores Investment, 5 Runways, and 260 Million Annual Capacity
New UK Laws: Banning Weak Passwords for Internet-Connected Devices to Enhance Cybersecurity
Blinken on Gaza: Ceasefire is Key to Humanitarian Crisis Resolution
UAE Prime Minister Announces $544M for Home Repairs after Historic Rains, Vows to Learn from Experience
Germany Sends New Frigate to Red Sea to Protect Ships Amid Houthi Attacks
Isfahan Explosions: US Media Reports Israel's Retaliatory Strikes on Iran
Four Dead, Dubai Airport Disrupted: UAE's Heaviest Rains in 75 Years Cause Flooding and Flight Chaos
Dubai's Historic Flooding: Homes Ruined, Airport Disrupted Due to Lack of Storm Drains
Meteorologist Warns of 'Weather Wars' Amid Debate over Dubai Rain and Cloud Seeding
Saudi Arabia Leads in Artificial Intelligence Development: Ranked First by Stanford University Index
Dubai's Airport and Roads Disrupted for Third Day Amid Heavy Rain and Flooding: 1,285 Flights Cancelled or Diverted
Doha Hamad Overtakes Singapore Changi as World's Best Airport in Skytrax Awards 2024
Dubai Airports: Stranded Tourists 'Living on Duty Free,' Desperate for Food and Water
Turkish President Erdogan to Host Hamas Leader Haniyeh Amidst Israel Tensions
Creative menu of a Pizza restaurant..
Heavy Rains Cause Flooding in UAE and Oman: 18 Lives Lost
Look at this weather in Dubai. It looks like the end of days
You can be a very successful player, but a player with character is another level!
Come to Dubai, ya Habibi
Stay safe, ya Habibi
Dubai underwater, Influencers are stranded in their Rolls Royces in flooded roads as skies turn black in apocalyptic scenes as storm hits region.
Unprecedented Flooding Disrupts Dubai
Experience the Future of Dining: My Visit to an AI-Powered Burger Joint
Ajman Crown Prince Declares Remote Work Day for Government Employees Due to Weather (Except Essential Jobs)
UK Urges Israel to Avoid Escalation in Iran-Israel Tensions: 'Time to Be Smart'
Iran's New Strategy: Direct Retaliation Against Israel After Damascus Consulate Attack
Saudi Finance Minister to Lead Delegation at IMF-World Bank Meetings: Discussing Global Economic Developments and Saudi Arabia's Three-Year Chairmanship