Saudi Arabia’s Tadawul, the Arab world’s biggest stock market, rose more than 8 per cent in 2018, pushing its market capitalisation just a notch under half a trillion dollars, in one of the most tumultuous years for most of the regional and global equities markets.
The benchmark Tadawul All Share Index climbed 600.41 points to reach 7,826.73 on the last day of 2018, lower than the highest closing of the year achieved in July at 8,490.75 points, as volatility in oil prices towards the latter half of the year, with crude losing 40 per cent of its value since October, dented investors’ confidence. The total market capitalisation at the end of the year reached 1.86 trillion Saudi riyals (Dh1.82tn), a 10 per cent year-on-year jump, the Riyadh-based bourse said in its annual performance report on Wednesday.
The total value of shares traded on the exchange last year reached 870.87 billion riyals from 836.28bn riyals at the end of 2017, while the aggregate volume for the period was 37.82bn shares compared to 43.30bn shares traded during the previous year, a drop of 12.7 per cent.
In terms of individual stocks, developer Dar Al Arkan led the market with the total number of transactions, followed by Alinma Bank and Sabic.
Sabic led the market in terms of the value of shares traded last year at 130.37bn riyals. The two other most active stocks were Alinma Bank and Dar Al Arkan, which posted values of 111.36bn riyals 75.96bn riyals, respectively.
Stock exchanges usually earn revenues through commissions and fees and income varies with the value and volumes of trade in the market. The Saudi bourse, which is preparing for its own initial public offering - the second Arabian Gulf exchange to do so after the Dubai Financial Market - does not report its profit.
Last year proved a choppy one for most global markets. The S&P 500 and the Nasdaq Composite, along with Dow, slid amid traded war worries, a slowing global economy and ongoing political turmoil in Washington. But the S&P 500 advanced on the last session of the year - amid the worst December rout for the benchmark since 1931 - by 9.2 per cent. That monthly rout added to the overall 6.2 per cent slide in the year.
Bear markets in equities from Japan to Germany were also witnessed. Europe’s main stock gauge, Stoxx Europe 600, fell 13 per cent in the year - the biggest fall since 2008.
The Saudi bourse, owned by the kingdom’s Public Investment Fund, its sovereign wealth fund, was last year granted emerging market status by global index providers FTSE Russell and MSCI, whose benchmark gauges are tracked by investors managing trillions of dollars in assets. Tadawul expects to attract tens of billions of dollars in passive flows to the bourse on top of the actively managed funds pouring investments into selected Riyadh-listed companies as the phased inclusion into emerging markets gauges is completed this year.
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Read more:
FTSE upgrades Saudi Arabia to emerging market status
Saudi Arabia expected to be included in FTSE Russell EM Index
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The Saudi government, which is still firmly committed to its privatisation agenda, is also going to give Tadawul a boost in 2019. The crown prince Mohammad Bin Salman last year told Bloomberg the government intends to privatise more than 20 companies early this year. Riyadh is also prioritising the merger of its oil interests ahead of the anticipated public flotation of Aramco, billed to be the biggest-ever in the world, on the back of Aramco’s plans to acquire a majority stake in petrochemical company Sabic. An IPO of the combined entities makes sense and, despite market speculation, could happen late 2020, early 2021, according to the crown prince.
In 2018, nine companies or funds offered parts of their shares in initial public offerings, pushing the total number of Tadawul-listed companies to 190. The total offered value for all IPOs last year reached 4.21bn riyals, according to Tadawul's report.
Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
At a glance
Global events: Much of the UK’s economic woes were blamed on “increased global uncertainty”, which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump’s tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise “£6.5bn per year” for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
On sale: Now
if you go
The flights
The closest international airport to the TMB trail is Geneva (just over an hour’s drive from the French ski town of Chamonix where most people start and end the walk). Direct flights from the UAE to Geneva are available with Etihad and Emirates from about Dh2,790 including taxes.
The trek
The Tour du Mont Blanc takes about 10 to 14 days to complete if walked in its entirety, but by using the services of a tour operator such as Raw Travel, a shorter “highlights” version allows you to complete the best of the route in a week, from Dh6,750 per person. The trails are blocked by snow from about late October to early May. Most people walk in July and August, but be warned that trails are often uncomfortably busy at this time and it can be very hot. The prime months are June and September.
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Moon Music
Artist: Coldplay
Label: Parlophone/Atlantic
Number of tracks: 10
Rating: 3/5
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
UAE currency: the story behind the money in your pockets
One in nine do not have enough to eat
Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.
One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.
The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.
Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.
It is currently estimated that one in nine people globally do not have enough to eat.
On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.
Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.
Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
Round 3: February 7-9, Dubai Autodrome – Dubai
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
Profile of Tamatem
Date started: March 2013
Founder: Hussam Hammo
Based: Amman, Jordan
Employees: 55
Funding: $6m
Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media
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