Riyadh EV Auto Show 2024 Aligns with Saudi Vision 2030 Amid Regional Economic Developments
Saudi Arabia's Vision 2030 is showcased at the Riyadh EV Auto Show 2024, emphasizing electric vehicles and sustainable technology. Meanwhile, Abu Dhabi Securities Exchange enforces a 15-day insider trading blackout, highlighting its role in the MENA ETF market.
Good morning, listeners! The Riyadh EV Auto Show 2024, running from September 17th to 19th, is setting the stage for Saudi Arabia's Vision 2030 with a strong focus on electric vehicles and sustainable technology. This event brings together automotive manufacturers, charging solution providers, policymakers, and consumers to highlight advancements in battery technology and the future of mobility.
Meanwhile, the Abu Dhabi Securities Exchange has just enforced a 15-day insider trading blackout starting September 16th to prevent unfair market advantages before the Q3 financial disclosures. This move, under the Securities and Commodities Authority regulations, underscores ADX's pivotal role as a burgeoning ETF market in the MENA region, recently highlighted by the listing of $1 billion in green bonds from Masdar.
In related economic news, SMEs dominate 90% of Saudi Arabia's industrial and mining sectors, according to Minister Bandar Alkhorayef. This revelation came during an event by Monsha’at, where the importance of SMEs in overcoming industrial challenges through technical applications was underscored, supported by initiatives like the Kafalah loan guarantee program and the Saudi Venture Capital Co.
On the regulatory front, the Saudi Ministry of Commerce is taking strict action against 44 firms for organizing unlicensed competitions and discount offers. These firms now face severe penalties, including prison sentences, hefty fines, and public defamation, as the ministry strengthens compliance monitoring under the Anti-Commercial Fraud Law.
Echoing the SME's importance, Minister Bandar Al-Khorayef reiterated that 90% of firms in Saudi Arabia's industrial and mining sectors are small and medium enterprises. At the "Industry and Mineral Resources Pioneers" week, the minister praised the pioneering projects and technological applications that drive efficiency within these critical sectors.
And lastly, the Saudi Fund for Development has signed a $41 million loan agreement to revamp infrastructure in Roseau, Dominica's capital. This ambitious project aims to construct seven main roads, enhance water drainage networks, and underground electricity and communication lines, fostering economic and social growth in the Caribbean nation. The signing ceremony saw the attendance of Dominican Prime Minister Roosevelt Skerrit alongside SFD CEO Sultan Al-Marshad.
Meanwhile, the Abu Dhabi Securities Exchange has just enforced a 15-day insider trading blackout starting September 16th to prevent unfair market advantages before the Q3 financial disclosures. This move, under the Securities and Commodities Authority regulations, underscores ADX's pivotal role as a burgeoning ETF market in the MENA region, recently highlighted by the listing of $1 billion in green bonds from Masdar.
In related economic news, SMEs dominate 90% of Saudi Arabia's industrial and mining sectors, according to Minister Bandar Alkhorayef. This revelation came during an event by Monsha’at, where the importance of SMEs in overcoming industrial challenges through technical applications was underscored, supported by initiatives like the Kafalah loan guarantee program and the Saudi Venture Capital Co.
On the regulatory front, the Saudi Ministry of Commerce is taking strict action against 44 firms for organizing unlicensed competitions and discount offers. These firms now face severe penalties, including prison sentences, hefty fines, and public defamation, as the ministry strengthens compliance monitoring under the Anti-Commercial Fraud Law.
Echoing the SME's importance, Minister Bandar Al-Khorayef reiterated that 90% of firms in Saudi Arabia's industrial and mining sectors are small and medium enterprises. At the "Industry and Mineral Resources Pioneers" week, the minister praised the pioneering projects and technological applications that drive efficiency within these critical sectors.
And lastly, the Saudi Fund for Development has signed a $41 million loan agreement to revamp infrastructure in Roseau, Dominica's capital. This ambitious project aims to construct seven main roads, enhance water drainage networks, and underground electricity and communication lines, fostering economic and social growth in the Caribbean nation. The signing ceremony saw the attendance of Dominican Prime Minister Roosevelt Skerrit alongside SFD CEO Sultan Al-Marshad.
