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Experts highlight importance of data in capital markets at Saudi forum

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Yazeed Al-Domaiji, CEO of Wamid. Screenshot
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Mehdi Miri, CEO of DirectFN. Screenshot
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Updated 18 February 2025
Nirmal Narayanan
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Experts highlight importance of data in capital markets at Saudi forum

  • Industry specialists said that real-time data availability is equally crucial for other participants
Updated 18 February 2025
Nirmal Narayanan

RIYADH: Accessing and interpreting data effectively is crucial for investors’ success in capital markets, as it enables them to make informed and timely decisions, according to experts. 

During a panel discussion at the Capital Markets Forum in Riyadh on Feb. 18, industry specialists said that real-time data availability is equally crucial for other participants, such as brokers, asset managers, and external institutions.

“What I believe is that data is the new alpha. So, those who master it will not only participate or win in the market, but they will define the market,” said Mehdi Miri, CEO of DirectFN. 

He added: “For investors, data is really about making smart and fast decisions. What investors need to see today is real-time AI-powered data that will help them look into insights and foresight so that they can see market opportunities before the market moves.” 

Miri further said that brokers and banks are using advanced analytics to build their trading and hedging strategies, ultimately improving their execution process. 

Yazeed Al-Domaiji, CEO of Wamid, a subsidiary of Saudi Tadawul Group, highlighted the importance of accessing data while maintaining rules and regulations. 

“Capital markets are driven by data. Data is there from more than 100 years ago. Everybody in capital markets is looking for data, using data to make decisions. As a capital market institution, it is necessary to find the balance of how we can innovate while maintaining the regulations,” said Al-Domaiji. 

He added that Wamid is aiming to play a major role in enabling the capital market industry in the Kingdom as it has announced a recent partnership with Google, with Saudi Arabia having strategic plans to adopt data and artificial intelligence in the sector.

Al-Domaiji said that Wamid is encouraging innovation in the capital market by focusing on two pillars, including data solutions and infrastructure technology. 

“In data solutions, we announced our partnership to launch our project for the data terminal. What we are planning to do is to offer a set of data that suits the demand of the market. We are focussing on satisfying the issuers, the capital market institutions, and the investors through a series of data with easier accessibility and good quality,” said Al-Domaiji. 

He added: “On the infrastructure side, we are helping the capital market to increase the access of institutional investors, especially for the HFTs (high-frequency trading). So, today, in Saudi Arabia, HFT trading is around 25 percent of the daily average trading.” 

Miri further said that data has become a strategic asset over time, and it is not just a global trend but a local and regional reality. 

“Data is a strategic asset. When we talk about monetization, data is a business in itself. This is a Spotify moment for data, where we are bringing and converging raw data into an on-demand revenue-generating machine,” added Miri. 

He said the capital market currently demands data that are not just numbers but enriched pieces of information, which should give foresight on what to do next. 

Miri also underscored the vitality of personalizing the data and integrating them into one single platform for better efficiency and quick decision-making. 

Regarding the future outlook of the importance of data in capital markets, Miri said: “Further down the road, if you have the data and if you have the liquidity, this could be the new asset class. A few decades ago, no one was thinking about carbon trading. In the future, we will be talking about data trading. Obviously, we have to balance it with data protection and regulation.” 

Underscoring the importance of datasets, Al-Domaiji added that data will become the “new currency for the capital market” in the future. 

Doug Peterson, special adviser and member of the board of directors at S&P Global, stressed the importance of data privacy and said: “The first question you have to ask from a governance standpoint is how I am going to protect my data. Do you want your data to be the one that is used in a model that is being built? Once it is there, that model is going to be using your data forever, and you are going to get paid for it.” 

He added: “I am really encouraged by what is happening in the Saudi market. We are very pleased at S&P Global to start building the local presence, because we think this is one of the most important markets in the future.” 

Katharine Furber, global head of emerging markets trading product at Bloomberg LP, said that fixed income space is seeing huge potential in the usage of data. 

“In the fixed income space, of course, it is the sell side indication, which indicates the desire to buy or sell a bond. But also trading data, and by trading data, I do not just mean what did they trade at what price. They want to build a rich story around the trade to learn as much as possible, which includes how many counterparties they asked on the trade; whether or not those counterparties responded to the trade request,” said Furber. 

Topics: Capital Markets Forum

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Lebanon amends banking secrecy law in key reform

Updated 24 April 2025
AFP
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Lebanon amends banking secrecy law in key reform

Updated 24 April 2025
AFP

BEIRUT: Lebanon’s parliament on Thursday granted regulatory bodies greater access to bank account information, a key reform demanded by international creditors before the crisis-hit country can unlock bail-out funds.

Prime Minister Nawaf Salam called parliament’s approval of changes to banking secrecy laws “a necessary step toward the desired financial reform that our government promised to achieve, and a fundamental pillar to any recovery plan.”

Adding that the decades-old culture of financial opacity was no longer the boon to investment it once was, Salam said the reform was fundamental to “restoring the rights of depositors and the confidence of citizens and the international community.”

Lebanon was once a booming regional financial hub dubbed the “Switzerland of the Middle East,” with strict banking secrecy laws a key attraction, but the economic crisis that began in 2019 shredded its fiscal reputation.

Since then, authorities have come under local and international pressure to amend the laws amid accusations that influential figures spirited large sums abroad while regular depositors were locked out of their life savings and the local currency’s value plummeted.

Lebanese rights group Legal Agenda said the amendments allow “banking supervisory and regulatory bodies” including the central bank “to request access to all banking information without linking the request to a specific objective.”

These bodies will now be able to audit customer accounts by name, access deposit details and look into possible suspicious activity, the group said.

The changes are among several major reforms Lebanon needs to make to unlock billions of dollars in aid to restart the economy after the collapse, which was widely blamed on mismanagement and corruption.

Finance Minister Yassine Jaber told local broadcaster LBC that the amendments “opened greater space” for Lebanon’s central bank to access accounts.

But “we should not think that with this law, anyone can enter a bank and demand account details” for whoever they like, added Jaber, who is in Washington with other senior officials for meetings with the IMF and the World Bank.

Alain Aoun, a member of parliament’s finance committee, said the move followed 2022 banking secrecy amendments that the IMF had viewed as “insufficient.”

Now, regulatory bodies will be able to request “the information they want” on bank accounts, he said.

The cabinet, which approved the amendment earlier this month, said it would apply retroactively for 10 years from the date of request, meaning it would cover the start of the economic crisis.

Topics: Lebanon banking

IMF to help Syria reintegrate into global economy, says Georgieva

Updated 24 April 2025
Reuters
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IMF to help Syria reintegrate into global economy, says Georgieva

Updated 24 April 2025
Reuters

WASHINGTON: The International Monetary Fund plans to work with Syria to help it reintegrate into the global economy, IMF chief Kristalina Georgieva said on Thursday, citing a meeting on the war-scarred nation held this week.

Georgieva told reporters that Syria’s central bank governor and finance minister attended the Spring Meetings of the IMF and World Bank this week for the first time in over 20 years.

“Our intention is to, first and foremost, help them rebuild institutions so they can plug themselves in the world economy,” she said.

Officials from the IMF and World Bank met with Syrian officials and other finance ministers and key stakeholders to discuss the country’s reconstruction on the sidelines of the meetings in Washington.

The high-level Syrian government delegation’s Washington trip marked the first US visit by Syria’s new authorities since former President Bashar Al-Assad was toppled in December.

Much of Syria’s infrastructure has been left in ruins by nearly 14 years of war sparked by the government authorities’ deadly crackdown on protests against Al-Assad.

The government that took over after Al-Assad was ousted has sought to rebuild Syria’s ties in the region and further afield and to win support for reconstruction efforts.

But tough US sanctions imposed during Al-Assad’s rule remain in place.

In January, the US issued a six-month exemption for some sanctions to encourage humanitarian aid, but this has had limited effect.

Reuters reported in February that efforts to bring in foreign financing to pay public sector salaries had been hampered by uncertainty over whether this could breach US sanctions.

Topics: IMF Syria

Closing Bell: TASI closes in green at 11,764  

Updated 24 April 2025
Nadin Hassan
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Closing Bell: TASI closes in green at 11,764  

Updated 24 April 2025
Nadin Hassan

RIYADH: Saudi Arabia’s Tadawul All Share Index concluded Thursday’s trading session at 11,764.39 points, marking an increase of 83.28 points or 0.71 percent. 

The total trading turnover of the benchmark index was SR6.95 billion ($1.85 billion), as 173 stocks advanced, while 67 retreated.  

The MSCI Tadawul Index also surged by 11.97 points, or 0.80 percent, to close at 1,500.71.  

The Kingdom’s parallel market, Nomu also increased, gaining 135.49 points, or 0.48 percent, to close at 28,598.60 points. This comes as 37 of the listed stocks advanced while as many as 42 retreated. 

The main index’s top performer, Saudi Paper Manufacturing Co., recorded a 9.97 percent increase in its share price, closing at SR69.50. 

Other notable gainers included Derayah Financial Co., which rose 8.22 percent to SR30.95, while Al-Baha Investment and Development Co. saw its share price climb 6.34 percent to SR3.52. 

Saudi Arabian Mining Co. also recorded a positive trajectory, with its share price rising 5.74 percent to SR47.00. Saudi Reinsurance Co. posted similar gains, increasing 5.29 percent to close at SR43.75. 

Mulkia Gulf Real Estate REIT recorded the steepest decline on TASI, with its share price slipping 4.71 percent to close at SR5.26.  

Musharaka REIT Fund followed with a 3.51 percent drop to SR4.67. Saudi Cable Co. also saw a notable decline of 3.20 percent to settle at SR139.    

On the parallel market, Hedab Alkhaleej Trading Co. was the top gainer, with its share price surging by 9.25 percent to SR44.90. 

Other top gainers on Nomu included Al Mohafaza Co. for Education, which surged 7.79 percent, or SR1.80, to close at SR24.90, and Shalfa Facilities Management Co., which rose 7.43 percent, or SR5.50, to reach SR79.50.  

Aqaseem Factory for Chemicals and Plastics Co. and Jana Medical Co. were the other top gainers on the parallel market. 

Osool and Bakheet Investment Co. posted the largest decline on Nomu, with its share price falling 8.11 percent to SR34. 

Altharwah Albashariyyah Co. fell 7.86 percent, or SR3.85, to close at SR45.15, while Meyar Co. declined 7.32 percent, or SR4.80, to settle at SR60.80 — making them among the top decliners on the parallel market. 

Topics: TASI NOMU MSCI

Saudi Arabia launches major dairy cluster in Al-Kharj

Updated 24 April 2025
MOHAMMED AL-KINANI
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Saudi Arabia launches major dairy cluster in Al-Kharj

Updated 24 April 2025
MOHAMMED AL-KINANI

JEDDAH: Saudi Arabia has launched a major dairy industrial cluster in Al-Kharj, reinforcing its ambition to become the region’s leading hub for dairy production and food manufacturing.

Announced during the Saudi Dairy Forum in Al-Kharj — located approximately 90 km southeast of Riyadh — the initiative is a strategic component of the Kingdom’s broader National Industrial Strategy. The cluster spans 1 million sq. m and is equipped with advanced infrastructure tailored to support dairy manufacturing and related industries.

Minister of Industry and Mineral Resources Bandar Alkhorayef, speaking at the forum, underscored the project’s role in attracting high-value investments and enhancing the Kingdom’s food security.

He revealed that the dairy sector reached a market size of SR22 billion ($5.87 billion) in 2024, with exports totaling SR4.8 billion and imports at SR8.9 billion.

According to the IMARC Group, the market is projected to grow to $8.4 billion by 2033, with a compound annual growth rate of 3.8 percent from 2025 to 2033.

“This project aligns with the goals of the National Industrial Strategy to position Saudi Arabia as a regional hub for food industries,” Alkhorayef stated, as reported by the Saudi Press Agency.

He said it will offer investors access to fully developed industrial land, modern facilities, storage solutions, and a comprehensive support system.

In a statement on social media, Alkhorayef expressed gratitude to Riyadh Governor Prince Faisal bin Bandar for his patronage of the forum and for inaugurating the country’s first dairy industrial cluster in Al-Kharj Industrial City.

The minister noted that Saudi Arabia has achieved 129 percent self-sufficiency in dairy production, underscoring the sector’s resilience and capacity for growth. Al-Kharj alone contributes over 70 percent of the Kingdom’s total dairy output, supplying both local and regional markets.

The new cluster is part of a broader initiative by the Saudi Authority for Industrial Cities and Technology Zones to establish specialized food industry hubs throughout the Kingdom. The project is expected to foster synergies across the value chain, including animal feed, food additives, packaging, and machinery manufacturing.

The Saudi Dairy Forum, hosted by the Al-Kharj Chamber in cooperation with the National Industrial Development Center, brought together industry leaders, policymakers, and agricultural stakeholders. It was held under the patronage of Riyadh Gov, Prince Faisal bin Bandar and attended by Al-Kharj Gov. Prince Fahd bin Mohammed bin Saad bin Abdulaziz.

As Saudi Arabia accelerates its push to diversify the economy and achieve food security, the Al-Kharj dairy cluster stands as a milestone in the Kingdom’s industrial and agricultural evolution.

Topics: dairy food production SaudiVision2030

PIF-owned AviLease secures $1.5bn credit facility to boost global expansion

Updated 24 April 2025
Nadin Hassan
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PIF-owned AviLease secures $1.5bn credit facility to boost global expansion

Updated 24 April 2025
Nadin Hassan

RIYADH: Saudi-backed AviLease has closed a $1.5 billion unsecured revolving credit facility to support its international expansion and investment in next-generation, fuel-efficient aircraft. 

The conventional three-year facility was oversubscribed, attracting commitments from 20 global banks, including eight new lenders from Europe, Asia, and North America, the company said in a release.  

Owned by Saudi Arabia’s Public Investment Fund, AviLease is central to the Kingdom’s push to diversify its economy and develop a globally competitive aviation industry under its Vision 2030 strategy.  

Edward O’Byrne, CEO of AviLease, said: “We are pleased to close this facility, noting the strong international demand. Together with our existing revolver of $750 million, it brings our immediately‑available committed facilities to $2.25 billion, spanning 25 local and global lenders.”  

He added: “This enhanced liquidity positions us to continue our expansion, investing in latest‑technology, fuel‑efficient aircraft while maintaining the conservative financial policy that underpins our strategy.”  

Headquartered in Riyadh, the firm manages a fleet of 200 aircraft — largely composed of new-technology models — leased to 48 airline customers worldwide. 

Earlier this month, AviLease signed a memorandum of understanding with Turkish Airlines for the long-term lease of eight Airbus A320neo aircraft. Two aircraft have already been delivered, with the remainder scheduled for delivery throughout 2025. 

In March, the lessor delivered three A320neo aircraft to SDH Wings, a joint venture between AviLease and China’s sovereign wealth fund, in which the Kingdom holds a 10 percent stake. 

The firm is also investing in local talent development. Earlier this year, AviLease partnered with Prince Sultan University and Riyad Bank to deliver a specialized aviation financing course to more than 150 professionals. 

At the time, the company said the initiative aimed to equip Saudi talent to lead the Kingdom’s aviation finance sector and support the human capability development goals outlined in Vision 2030. 

AviLease also stated that it will continue to create local economic value and generate both direct and indirect employment opportunities for Saudi nationals across the aviation and financial services sectors. 

In October, AviLease expanded its fleet with the acquisition of nine aircraft from global lessor Avolon, building on a previous transaction in which it purchased 13 aircraft from the same company the year before.

The deal was followed by AviLease’s first transaction with BBAM, one of the world’s leading aircraft lessors, through which it acquired a Boeing 787-9. The acquisition marked the introduction of the 787-9 to AviLease’s operating lease portfolio and added a new airline customer based in the Americas, further diversifying the company’s global client base.

Topics: PIF AviLease aviation

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