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Global leaders, experts descend on Riyadh for FII8

Global leaders, experts descend on Riyadh for FII8
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This year’s FII is held under the theme “Infinite Horizons: Investing Today, Shaping Tomorrow,” from Oct. 29 to 31 in Riyadh. Supplied
Global leaders, experts descend on Riyadh for FII8
2 / 3
This year’s FII is held under the theme “Infinite Horizons: Investing Today, Shaping Tomorrow,” from Oct. 29 to 31 in Riyadh. Supplied
Global leaders, experts descend on Riyadh for FII8
3 / 3
This year’s FII is held under the theme “Infinite Horizons: Investing Today, Shaping Tomorrow,” from Oct. 29 to 31 in Riyadh. Supplied
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Updated 29 October 2024

Global leaders, experts descend on Riyadh for FII8

Global leaders, experts descend on Riyadh for FII8
  • Event expected to witness signing of strategic deals across mulitple sectors

RIYADH: World leaders and industry experts are set to gather in Ƶ’s capital city for the eighth edition of the Future Investment Initiative to discuss opportunities and challenges across the global financial landscape.

Held under the theme “Infinite Horizons: Investing Today, Shaping Tomorrow,” from Oct. 29 to 31, this year’s FII is expected to ignite discussions on how investment can serve as a catalyst for a prosperous and sustainable future.

In the lead-up to the event, FII Insitute CEO Richard Attias said deals worth $28 billion are expected to be announced during the gathering.

He also said that7,100 participants worldwide are registered for the upcoming event. “It is 1,000 more than last year,” he told a press conference on Oct. 15.

Since its launch in 2017, the FII Institute has been organizing annual events in Riyadh, and over the years the program has emerged as one of the flagship conferences in the financial sector.

Apart from the industry experts, this year’s event will also bring leaders and decision-makers in artificial intelligence, sustainability, energy, geoeconomics and space.

The conference will feature over 500 speakers and facilitate over 200 sessions, plenary discussions, breakouts and conclaves addressing economic stability, geopolitical tensions, and equitable development.

A press release marking the gathering noted that with the 79th UN General Assembly concluding and the US presidential elections immediately following FII8, the geoeconomic conversations and insights generated at the conference “will serve as a vital addition to the global dialogue, equipping leaders with forward-thinking strategies to navigate the upcoming global landscape.”

FII: The brainchild of the Public Investment Fund

Ƶ’s sovereign wealth fund founded the Future Investment Initiative Institute as a part of the Kingdom’s Vision 2030, which aims to position the country as a global hub for business growth.

As Ƶ is on a path of transformation, the events organized by the institute have proved to be a strong component of the Kingdom’s regional and global growth in finance and investment.

According to FII, this year’s conference will challenge attendees to think beyond conventional limits and explore investment opportunities that can bridge current challenges with future possibilities.

“FII8 pioneers a new kind of mindset — where leaders and game changers break free of past limitations, fueling innovation that leads to boundless human potential and economic growth,” said the organization’s website.

It added: “The world’s visionaries will explore how nonlinear thinking can deploy capital to address the planet’s most critical issues — from infrastructure gaps to environmental threats — ultimately achieving the optimal point between planetary consumption and regeneration, and positively impacting humanity.”

FII8: Speakers list

The first day of the event will focus on strategies leaders need to tackle new challenges in an infinitely connected world.

The opening ceremony will begin at 9:00 a.m. Saudi time, and it will be followed by welcome remarks by Attias.

Yasir Al-Rumayyan, governor of the Public Investment Fund and the chairman of FII Institute, will also deliver his speech on the first day of the event.

Ƶ’s Minister of Investment Khalid Al-Falih will use his address to discuss the role of policymakers in establishing a robust regulatory framework, navigating global economic shifts to instill optimism and create a path toward growth.

7,100 participants from around the world are registered for the event.

Richard Attias, FII Insitute CEO

Turkiye’s Minister of Treasury and Finance Mehmet Simsek, Chief Information Officer mentor for asset management firm Board Bridgewater Associates Ray Dalio, and Makhtar Diop, managing director of International Finance Corp., will also speak on panels on the first day.

On the first day, in a panel titled “First Board of Changemakers: Geoeconomics,” top industry leaders including Laurence Fink, CEO of Blackrock, Ruth Porat, president and Chief Information Officer of Alphabet and Google, Stephane Bancel, CEO of Moderna, as well as Stephen Schwarzman, chairman and CEO of the Blackstone Group, will share their thoughts on strategies that could be implemented to combat environmental challenges and economic inequalities.

Muhammed Al-Jasser, chairman of the Islamic Development Bank will also speak on a panel named “Second Board of Changemakers: Banking and Investment,” where he will discuss persisting economic challenges the world is facing and the ways to tackle the problems.

Mohammad Maziad Al-Tuwaijri, vice chairman of Ƶ’s National Development Fund, along with Bernard Mensah, president of International for Bank of America will take part in a panel on global financial stability.

The first day will also feature discussion on the vitality of accelerating the energy transition journey.

This session will feature industry leaders including Amin Nasser, president and CEO of Saudi Aramco, Marco Arcelli, CEO of ACWA Power, Catherine MacGregor, CEO of Engie, and Patrice Motsepe, founder and executive chairman of African Rainbow Minerals.

Other notable speakers who will be attending panels on the first day include Shou Chew, CEO of TikTok, Brian Hongdi Gu, co-president of Xpeng, Masayoshi Son, chairman and CEO of SoftBank Group Corp., as well as Mansoor Ebrahim Al-Mahmoud, CEO of Qatar Investment Authority, and Sarah Al-Suhaimi, chairperson of board of directors of Saudi Tadawul Group.

The second day of the event will be based on the theme “New Algorithms” where discussions will take place around building future-ready talent to cultivate social resilience, with a focus onhow leaders can harness the power of emerging technology for positive impact.

Some of the noted speakers on the second day include Mohamed Jameel Al-Ramahi, CEO of Masdar, Marcelo Claure, founder and CEO of Claure Group, Julie Sweet, chairman and CEO of Accenture, as well as Eric Schmidt, founder and CEO of Schmidt Family Foundation, and Gautam Sashittal, CEO of King Abdullah Financial District.

Arif Amiri, CEO of Dubai International Financial Center Authority, Olayan Alwetaid, group CEO of STC, and Ossama Rabiee, chairman and managing director of Suez Canal Authority, will also attend panel discussions on the second day of the event.

FII8’s third day is titled “Investment Day” where discussions will revolve around practical aspects of investing, offering hands-on guidance and tactical knowledge.

Noted personalities who will speak on this topic include Tony Douglas, CEO of Riyad Air, Rishi Kapoor, vice chairman and Chief Information Officer of Investcorp, Zoe Cruz, founder and CEO of Menai Financial Group, and Benjamin Horowitz, co-founder and partner of Andreessen Horowitz.

The third day will also witness leaders from the hospitality sector attending a panel where they will discuss the latest trends in tourism and its impacts on the real estate sector.

Speakers who will be attending this panel include Sebastien Bazin, chairman and CEO of Accor, Elie Maalouf, CEO of IHG Hotels & Resorts, Ferit Sahenk, chairman and CEO of Dogus Group, as well asChristopher J. Nassetta, president and CEO of Hilton.

FASTFACTS

- The conference will feature over 500 speakers and facilitate over 200 sessions, plenary discussions, breakouts and conclaves addressing economic stability, geopolitical tensions, and equitable development. - The event will focus on strategies leaders need to tackle new challenges in an infinitely connected world.


Closing Bell: Saudi main index ends lower at 10,899

Closing Bell: Saudi main index ends lower at 10,899
Updated 10 August 2025

Closing Bell: Saudi main index ends lower at 10,899

Closing Bell: Saudi main index ends lower at 10,899
  • Parallel market Nomu dropped 199.33 points to close at 26,449.38
  • MSCI Tadawul Index edged up 0.03% to reach 1,407.12

RIYADH: Ƶ’s Tadawul All Share Index declined on Sunday, losing 31.19 points, or 0.29 percent, to close at 10,899.11. 

The total trading turnover of the benchmark index stood at SR3.51billion ($935.8 million), with 77 listed stocks advancing and 169 declining. 

The Kingdom’s parallel market Nomu also dropped 199.33 points to close at 26,449.38 

The MSCI Tadawul Index slightly edged up by 0.03 percent to reach 1,407.12. 

The top performer on the main market was Red Sea International Co., whose share price rose 10 percent to SR42.24. 

The share price of Tamkeen Human Resource Co. increased 7.94 percent to SR57.1. 

Saudi Reinsurance Co. saw its stock price increase by 5.91 percent to SR47.66. 

Jahez International Co. for Information System Technology witnessed a drop in its share price by 10 percent to SR25.02. 

The company’s share price decreased following the announcement that its net profit for the second quarter fell 21.9 percent year on year to SR23.6 million, down from SR30.2 million in the same quarter last year. 

In corporate announcements, Zamil Industrial Investment Co. posted a net profit of SR25.28 million in the second quarter, a 314.5 percent increase from SR6.1 million in the same quarter in 2024. 

The company attributed the rise in quarterly profit to higher sales across its air conditioning, steel, and insulation sectors, which drove a 25.7 percent increase in gross profit.

This was further supported by a SR1.5 million rise in share of results from associates and joint ventures, lower financial charges by SR4.7 million, and a SR6.9 million reduction in zakat and income tax expenses. 

The company’s share price closed 0.51 percent higher at SR39.80. 

United International Transportation Co., known as Budget Saudi, reported a net profit of SR85.63 million in the second quarter, up 20.8 percent from SR70.87 million last year. 

The company attributed the quarterly increase in profit to higher revenues driven by growth in its rental and lease fleet, improved operational efficiency, and stronger cost control measures, which boosted gross and operating margins. 

The company’s share price ended 2.04 percent lower at SR72.20. 


Egypt’s annual inflation slows to 13.9% in July

Egypt’s annual inflation slows to 13.9% in July
Updated 10 August 2025

Egypt’s annual inflation slows to 13.9% in July

Egypt’s annual inflation slows to 13.9% in July
  • Fruit, vegetable, and meat prices record steep declines
  • Hotels and restaurants recorded a 0.6% increase

RIYADH: Egypt’s annual urban inflation rate eased to 13.9 percent in July, down from 14.9 percent the previous month, as falling food costs helped temper price pressures, official data showed.

Figures from the Central Agency for Public Mobilization and Statistics revealed that the monthly inflation rate declined by 0.6 percent, with the general consumer price index standing at 256.5 points.

The moderation was largely driven by significant drops in key food categories. Fruit prices plunged 11 percent, vegetables fell 7 percent, and meat and poultry were down 4.9 percent. Personal belongings also recorded a marginal decline of 0.5 percent.

However, price increases persisted in some segments. Grains and bread rose 0.4 percent, while dairy products, eggs and cheese each edged up 0.2 percent. Fish and seafood prices also gained 0.2 percent, as did beverages, coffee, tea and cocoa, while mineral water, soft drinks and natural juices climbed 0.8 percent.

Outside the food sector, inflation trends were mixed. Tobacco products saw the steepest rise at 7.8 percent. Clothing and footwear gained 0.3 percent, supported by a 0.4 percent increase in ready-made garments and a 0.2 percent rise in footwear.

FASTFACT

HIGHLIGHTS

Monthly inflation fell 0.6 percent, with the CPI at 256.5 points.

Tobacco increased 7.8 percent, while housing costs rose 0.7 percent.

Some food categories, including grains and bread, posted modest increases.

Housing costs advanced 0.7 percent, driven by a 0.8 percent increase in actual rents and a 1.7 percent rise in home maintenance expenses. 

Furnishings, household equipment and routine maintenance were up 0.7 percent, home textiles rose 2.6 percent, glassware and tableware 0.6 percent, and gardening and household tools 1.2 percent.

Healthcare prices climbed 0.3 percent, reflecting a 0.6 percent increase in outpatient services and a 1.1 percent jump in hospital fees. 

Transportation costs edged higher by 0.1 percent, boosted by a 0.2 percent increase in vehicle purchases and a 0.3 percent rise in private transport expenses.

Communication services rose 0.6 percent, while recreation and culture gained 0.3 percent, supported by higher spending on cultural and entertainment activities and organized tourist trips.

Hotels and restaurants recorded a 0.6 percent increase, with ready meals up 0.5 percent and hotel services up 1.5 percent. Miscellaneous goods and services grew 0.7 percent, led by a 1.2 percent rise in personal care items.


Saudi ports post 12% rise in July container volumes

Saudi ports post 12% rise in July container volumes
Updated 10 August 2025

Saudi ports post 12% rise in July container volumes

Saudi ports post 12% rise in July container volumes
  • Increases reflect expansion of trade exchange with global markets
  • Maritime traffic expanded 11.27% to 1,017 ships from 914 ships last year

RIYADH: Ƶ’s ports handled 722,502 twenty-foot equivalent units in July, marking a 12.01 percent year-on-year increase as infrastructure upgrades and expanded logistics services boosted throughput. 

According to the Saudi Ports Authority, also known as Mawani, the gain was led by a 35.34 percent jump in transshipment volumes to 175,666 TEUs, while export containers climbed 12.86 percent to 275,098 TEUs. Imports recorded a modest 0.10 percent rise to 271,738 TEUs. 

The July performance follows strong growth in May, when Saudi ports handled 720,684 TEUs, up 13 percent year on year.  

The uptick in activity supports the goals of Ƶ’s National Transport and Logistics Strategy, which aims to position the Kingdom as a global logistics hub under Vision 2030. 

In a release, Mawani stated: “These increases reflect the expansion of trade exchange with global markets, the stimulation of sectors related to maritime transport, the enhancement of supply chain efficiency, the growth of maritime activity, the support of the Kingdom’s food security, the expansion of economic activity, and the creation of jobs.”   

Total cargo tonnage, comprising general cargo, dry and liquid bulk, grew 2.81 percent to 21.1 million tonnes from 20.6 million tonnes a year earlier. General cargo reached 461,958 tonnes, dry bulk 4 million tonnes, and liquid bulk 16.6 million tonnes.  

Livestock imports climbed 13.18 percent to 582,708 head. The number of ships calling at Saudi ports rose 11.27 percent to 1,017, passenger traffic grew 41.70 percent to 73,953, while vehicle volumes fell 22.66 percent to 69,969 units.  

Maritime traffic expanded by 11.27 percent to 1,017 ships from 914 ships last year. Passenger numbers climbed 41.70 percent to 73,953 compared to 52,191 a year earlier, while vehicle volumes fell 22.66 percent to 69,969 units.  

In August, Mawani signed an SR500 million ($133.2 million) contract with Petrotank to establish an integrated marine bunkering hub at King Fahad Industrial Port in Yanbu, a project aimed at enhancing fuel storage and bunkering capacity, attracting more vessels, and boosting the competitiveness of Saudi ports.  

Spanning 110,700 sq. meters and operating under a 20-year lease, the facility will boost fuel and oil storage capacity, increase vessel traffic, and strengthen the Kingdom’s competitiveness in global shipping. 


Deflation to shape global outlook despite inflation risks, QNB says

Deflation to shape global outlook despite inflation risks, QNB says
Updated 10 August 2025

Deflation to shape global outlook despite inflation risks, QNB says

Deflation to shape global outlook despite inflation risks, QNB says
  • Bank says global economy has entered new phase characterized by structural fluctuations
  • Shifts in prices of key goods and services remain among most closely monitored macroeconomic indicators

RIYADH: Long-term deflationary forces are set to dominate global trends, interrupted by brief inflation surges triggered by geopolitical and structural shocks, Qatar National Bank has warned. 

In its weekly report, carried by the Qatar News Agency, the bank said the new macroeconomic phase will be defined by structural fluctuations, not a purely inflationary or deflationary environment, with prices periodically jolted by supply disruptions and policy shifts. 

The assessment comes as the International Monetary Fund forecasts global inflation to ease to 4.2 percent this year and 3.6 percent in 2026, even as major economies send mixed signals, with US consumer prices rising 2.7 percent year on year in June and China’s consumer price index edging up to 0.1 percent after months of decline. 

“The bank pointed out that the global economy is no longer stable in a purely inflationary or contractionary environment, but has entered a new phase characterized by structural fluctuations,” QNA reported. 

It said shifts in the prices of key goods and services remain among the most closely monitored macroeconomic indicators, alongside economic growth rates, as they directly impact purchasing power, consumer confidence, investment decisions, and monetary policy.  

Inflation vs. deflation 

While moderate inflation is considered normal and even necessary for economic growth, QNB said excessive inflation or sharp deflation can lead to structural imbalances and long-term economic disruptions. 

The report cited the “Great Moderation” in advanced economies as an example of stable growth under controlled inflation. However, it cautioned that central banks’ aggressive monetary tightening in response to inflation can also trigger recessions or financial stress.  

QNB’s report said some geopolitical development could have deflationary consequences by reducing efficiency and demand, under certain conditions. QNA

On the other hand, deflation — a sustained drop in price levels — often signals deeper structural weaknesses, such as weak demand, financial deleveraging, or demographic decline. While falling prices may seem beneficial at first glance, QNB said they can reduce consumption, delay investment, increase real debt burdens, and trap economies in a low-growth cycle. 

Japan’s “Lost Decade” was cited as a prime example of deflation’s damaging long-term effects, with other major economies facing similar challenges after the 2007-08 financial crisis.  

Post-pandemic uncertainty 

The report said the post-COVID-19 era, combined with supply shocks, led to unusually high inflation, but economists remain divided on whether inflation or deflation will dominate in the medium to long term.  

QNA said “some analysts highlight that one of the main reasons why inflation is returning to the fore as a source of economic concern lies in the disintegration of many structural factors that supported the Great Moderation.” 

Rising geopolitical fragmentation has disrupted global trade, while supply chain reconfigurations, green transition costs, and demographic pressures could keep inflation structurally higher.  

Others believe technology-driven deflationary forces will prevail. Innovations in automation, artificial intelligence, and digital services continue to reduce costs, offsetting inflationary pressures. 

A July report by Morgan Stanley said the ongoing AI wave continues to dominate global markets, with significant investments projected in data centers. 

The report forecasted that global data center spending would reach $2.9 trillion by 2028, covering hardware such as chips and servers, and infrastructure, including construction and maintenance. 

QNB also said some geopolitical developments, including trade fragmentation, could have deflationary consequences by reducing efficiency and demand, under certain conditions.


Saudi industrial output jumps 7.9% in June on manufacturing gains

Saudi industrial output jumps 7.9% in June on manufacturing gains
Updated 10 August 2025

Saudi industrial output jumps 7.9% in June on manufacturing gains

Saudi industrial output jumps 7.9% in June on manufacturing gains
  • Mining and quarrying, which include crude oil production, increased 6% annually
  • Index of oil activities advanced 7.7% year on year in June

RIYADH: Ƶ’s industrial production climbed 7.9 percent year on year to 111.9 in June, driven by a sharp rebound in manufacturing and higher crude output, official data showed. 

Figures from the General Authority for Statistics also revealed a 1.6 percent month-on-month rise in the Industrial Production Index, underscoring momentum in the Kingdom’s non-oil economy. 

The IPI, which measures changes in industrial output across mining, manufacturing, utilities, and waste management, is a key indicator for Ƶ’s Vision 2030 diversification drive. 

The June IPI figure, reflecting continued growth in the manufacturing sector, affirms Ƶ’s progress in its economic diversification efforts aimed at reducing its decades-long reliance on crude revenues. 

In its latest report, GASTAT stated: “Preliminary results indicate a 7.9 percent increase in the IPI in June 2025 compared to the same month of the previous year, supported by the rise in mining and quarrying activity, manufacturing activity, electricity, gas, steam, and air conditioning supply activity and water supply, sewerage and waste management and remediation activities.”   

Mining and quarrying — which include crude oil production — increased 6 percent annually as Saudi output rose to 9.36 million barrels per day, up from 8.83 million bpd in June 2024.  

The authority revealed that the sub-index for manufacturing activities rose 11.1 percent year on year in June, supported by an increase in the manufacture of coke and refined petroleum products, which jumped 15.3 percent, and the production of chemicals and chemical products, which rose 18.7 percent. 

In May, a separate report released by GASTAT revealed that the Kingdom’s gross domestic product grew 2.7 percent year on year in the first quarter, driven by strong non-oil activity. 

Commenting on the GDP figures, Ƶ’s Minister of Economy and Planning, Faisal Al-Ibrahim, who also chairs GASTAT’s board, said at the time that the contribution of non-oil activities to the Kingdom’s economic output reached 53.2 percent — an increase of 5.7 percent from previous estimates. 

The sub-index of electricity, gas, steam, and air-conditioning supply activity increased 5.6 percent in June, compared to the same month in 2024. 

The authority added that the sub-index of water supply, sewerage, waste management, and remediation operations increased 6.9 percent year on year in June. 

Overall, the index of oil activities advanced 7.7 percent year on year in June, while the index of non-oil activities rose 8.6 percent during the same period. 

On a monthly basis, manufacturing activity in Ƶ increased 1.4 percent, supported by growth in the production of coke and refined petroleum products, which rose 1.7 percent. 

Compared to May, mining and quarrying activities in the Kingdom also increased 1.9 percent in June. 

Overall, the index of oil activities increased 1.9 percent in June from May, while non-oil activities expanded 1.1 percent during the same period. 

The Industrial Production Index measures changes in industrial output based on the International Standard Industrial Classification framework, covering mining, manufacturing, utilities, and waste management sectors. 

S&P Global data show the Kingdom’s non-oil private sector remained robust in July, with its Purchasing Managers’ Index at 56.3, outpacing the UAE at 52.9, Kuwait at 53.5, and Qatar at 51.4.