LONDON: Saudi Arabia jumped 18 places in an index that measures the transparency of budgets worldwide.
The results were presented by the International Budget Partnership, an international non-profit organization.
The Open Budget Index (OBI) is published every two years to assess the transparency of government budgets around the world. It covers more than 100 countries.
Saad Alshahrani, deputy minister for macro-fiscal policies, said the performance of the country in the latest rankings reflected efforts to boost the quality of fiscal data in the Kingdom.
He said that the Ministry of Finance had developed its fiscal systems to inform specialists, analysts and citizens in a timely manner and allow the private sector and investors to plan ahead and make informed decisions.
Since the launch of the Kingdom’s Vision 2030, the Ministry has dramatically increased the availability of key financial and economic data along with the Saudi Arabian Monetary Authority and the General Authority for Statistics.
“All of these measures contributed to a material and unprecedented shift in the levels of disclosure and transparency in the Kingdom, leading to an enhanced position on various international indicators and contributing to supporting domestic and foreign investment, as well as the credit rating of the Kingdom,” added Alshahrani.
Saudi Arabia rises up key international budget transparency index
https://arab.news/gjwaq
Saudi Arabia rises up key international budget transparency index
Closing Bell: Saudi main index closes in red at 11,183
RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.
The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.
The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.
The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.
The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.
Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.
On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.
Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.
On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.
In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”
Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.
The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.
