Saudi Press

Saudi Arabia and the world
Saturday, May 10, 2025

Saudi Stock Market Soars to Seventh Largest Globally Amid Mixed Performance and Economic Diversification Efforts

Saudi Arabia Becomes Seventh Largest Stock Market Amid Mixed Performance and Economic Growth Projections
The Saudi stock market has soared to become the seventh largest globally, underscoring the robust real economy, according to Mohammed bin Abdullah Elkuwaiz, chairman of the Capital Market Authority. While this reflects strong business financing, the Tadawul All Share Index (TASI) saw a dip, closing at 12,226.10 points, a 0.37 percent drop.

Despite TASI's decline, Al-Baha Investment and Development Co. surged 10 percent and CHUBB Arabia Cooperative Insurance Co. gained 5.39 percent. On the other hand, Bupa Arabia for Cooperative Insurance Co. fell by 5.82 percent, showcasing a mixed performance in the market.

Meanwhile, at the Future Hospitality Summit in Dubai, Germany's EVUM Motors forecasts its electric vehicles will reach environmental break-even in three years, significantly advancing global carbon reduction initiatives. The summit also highlighted sustainable developments like NEOM's environmental efforts and Dubai's expanding tourism.

In other economic news, Saudi Arabia's Ministry of Finance projects a 4.6% GDP growth by 2025, despite anticipating a $101 billion budget deficit. Supported by non-oil sector growth, this aligns with the country’s Vision 2030 for economic diversification and sustainable development, demonstrating strong fiscal resilience.

Enhancing security, Minister of Interior Prince Abdulaziz bin Saud bin Naif inaugurated the new General Directorate of Public Security building in Riyadh, alongside launching an Innovation Center and the Center for Indicators and Artificial Intelligence, which are set to modernize security operations and digital services.

Prince Abdulaziz also introduced advanced digital services on the Absher platforms, including accident reporting and digital license management, aiming to streamline Public Security services and improve accessibility to citizens, marking a significant step towards digital transformation in public services.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Cardinal Robert Prevost Elected as Pope Leo XIV, Marking a Historic Papacy
India-Pakistan conflict may be first test for Chinese military tech
Bill Gates Announces Plan to Wind Down Philanthropic Foundation and Disperse Wealth
Common Sense Returns to Britain's Legal System: UK Supreme Court Declares a Woman Is… a Woman
Warren Buffett to Step Down as Berkshire CEO After Nearly 60 Years
Trump Shares AI-Generated Image of Himself as… Pope, Prompting Outrage Reaction
Amazon Launches Satellite Internet Service Amidst Competition with SpaceX
The Rush to the White Gold: Global Investment Surge in Natural Hydrogen Exploration
Trump Administration Removes National Security Adviser Mike Waltz Amid Signal Chat Controversy
Liverpool Clinches Record-Equalling 20th English League Title Under Arne Slot
Massive Explosion at Iran's Bandar Abbas Port Linked to Suspicious Chemical Shipments
Pope Francis Laid to Rest in Rome as World Leaders Attend Funeral
Not Child’s Play: How Competitive Gaming Became a Global Economic Empire
California Surpasses Japan to Become the World’s Fourth-Largest Economy
Former U.S. Congressman George Santos sentenced to eighty-seven months for wide-ranging fraud
Israel Considers Limited Strikes on Iran's Nuclear Facilities Amid Diplomatic Efforts
Saudi Arabia Offers Max Verstappen Unprecedented Deal to Join Aston Martin
Global Pistachio Shortage Amid Rising Demand for 'Dubai Chocolate'
IMF Predicts No Global Recession Amid Trade Tensions
Worldwide Markets Decline as U.S.-China Trade Frictions Intensify
OpenAI Lands Unprecedented $40 Billion Investment
Removing the Political Adversary is Dismantling What's Remaining of Turkey's Economy.
Ex-FIFA President and French Football Icon Acquitted of Corruption Allegations
White House Investigates Security Breach After Journalist Accidentally Added to Secret Yemen Strike Chat
Volunteers in Jeddah Ensure No One Goes Hungry During Ramadan Iftar
New Restaurant Opens in Makkah's Iconic Clock Tower for Ramadan Iftar
Saudi Arabia's Project Masam Removes 552 Houthi Mines in Yemen
Saudi Arabia Fines Over 400 Foreign Trucks for Regulatory Violations
Saudi National Campaign for Charitable Work Reports Significant Donations in Ramadan
Historic Al-Hosn Al-Asfal Mosque Restored in Asir as Part of National Heritage Initiative
KSrelief Expands Humanitarian Efforts in Syria, Sudan, and Lebanon
Saudi Arabia Advocates for Global Water Cooperation at Forum
Madinah Governor Tours Islamic Arts Biennale in Jeddah
Saudi Foreign Minister in Cairo to Lead Meeting on Gaza Developments
Recognition of Saudi and Pakistani Entrepreneurs at Riyadh Ceremony
UAE Announces $1.4 Trillion Investment Plan in the United States
Saudi Arabia Innovates in Soil Quality and Water Conservation
Governor of Taif Engages with Rose and Aromatic Plants Cooperative
Saudi Food and Drug Authority Enhances Preparations for Hajj Season
Saudi Arabia Distributes Aid to Yemen and Romania
Restoration of Historic Al-Qalaah Mosque in Riyadh Underlines Heritage Preservation Efforts
Saudi Arabia Arrests Over 25,000 for Immigration Violations in One Week
UAE’s ADQ and Energy Capital Partners Announce $25 Billion Energy Venture in the U.S.
KSrelief Launches Extensive Ramadan Food Aid Initiative
Ramadan Celebrations Revitalize Historic Jeddah
Makkah Authorities Urge Worshippers to Follow Crowd Management Guidelines
Direct Flights Between Dammam and Damascus Reestablished for Syrian Residents
Saudi Main Index Rises to Close at 11,760 Amid Mixed Market Performance
Moroccan Prime Minister Aziz Akhannouch Visits Prophet's Mosque in Madinah
Cultural Development Fund Hosts Third Annual Storytellers Event in Riyadh
×