RIYADH: Sarah Al-Suhaimi, the chairperson of the Tadawul stock exchange, has committed the Riyadh market to further reform and modernization in an effort to ensure inclusion in global investment indices as soon as possible.
Speaking at the Future Investment Initiative (FII) in the Saudi capital, she said that there was “more to come” from the Tadawul’s expansion program, in particular plans to introduce a clearing house for derivatives trading and a plan to cross-list stocks with other Gulf and international exchanges.
“We want to encourage everyone to invest in Saudi Arabia, and we are continuously changing to make this easier,” she told Howard Marks, chairman of US investor Oaktree Capital, at the FII.
“We have already introduced very necessary changes, and the results are showing with Tadawul on the watch list for inclusion in the MSCI and FTSE Russell indices,” she said.
One of the leading female business leaders in the country, she also outlined the changes already introduced at Tadawul to broaden its international appeal, including opening the exchange to foreign investors and introducing a more efficient system of share settlement.
The plan to cross-list with other Gulf exchanges could be an important move as the Kingdom seeks to develop its capital markets.
The Tadawul is the biggest exchange in the region and ranked 26 in the world in market capitalization, but has suffered from what some investors regard as a lack of liquidity and transparency in comparison with markets in other countries.
She also spoke of the need to get women more involved in the financial industry and used her own career as an example. “I began at Samba and faced small challenges that nobody wanted to do. But we used to dream big and we met those challenges.
“Today, endless opportunities exist in Saudi Arabia for women, who have more support. They can do much more for themselves in the country,” she added.
“What I want to tell young women is if you find a challenge in a field that you like, just do it, even if you think you can’t succeed. I know they can.”
The Tadawul chief also touched on Saudi Aramco, the oil company which is planning an international public offering next year on the Tadawul and possibly another big international exchange.
“Aramco is one of the biggest talent factories in the Kingdom, with established practices and cultures allowing young people to develop,” she said.
She added that Tadawul was to launch a series of roadshows in a bid to attract big institutional capital.
Saudi Arabia’s Tadawul stock exchange chief pledges more reforms
Saudi Arabia’s Tadawul stock exchange chief pledges more reforms
3rd Global Conference for Giftedness and Creativity underway in Riyadh
- More than 300 talented individuals and local and international speakers from over 50 countries were attending the three-day conference
RIYADH: The third edition of the Global Conference for Giftedness and Creativity opened in Riyadh on Sunday, bringing together a select group of experts and talented individuals in science, technology, and innovation.
More than 300 talented individuals and local and international speakers from over 50 countries were attending the three-day conference, which was inaugurated by Prince Faisal bin Bandar bin Abdulaziz, governor of Riyadh region, the Saudi Press Agency reported.
Organized by the King Abdulaziz and His Companions Foundation for Giftedness and Creativity, also known as "Mawhiba," the conference is being held at the King Abdullah Petroleum Studies and Research Center (KAPSARC) until Tuesday.
Themed "Beyond Creative Minds," the conference aims to showcase the potential of the gifted, develop a comprehensive care system to support them, bolster integration and strategic partnerships, and enhance opportunities for global exchange and cooperation.
An exhibition and various cultural visits are being held on the conference sidelines, the SPA report said.
According to the Mawhiba site, the conference reflects the success achieved in the two previous editions, and "provides an opportunity for partners to contribute to sponsoring the journey of talented people from different countries of the world."
Saudi-European talks to strengthen cooperation in environmental fields
- Saudi minister of state discussed with EU security and political officials strengthening existing work on dealing with climate change
RIYADH: Saudi Minister of State for Foreign Affairs Adel Al-Jubeir met with European officials on Sunday in Riyadh, Saudi Press Agency reported.
Al-Jubeir, who is also the Saudi climate envoy, held talks with Delphine Pronk, the Chair of the EU Political and Security Committee, and Luigi Di Maio, the EU Special Representative for the Gulf region.
They discussed issues surrounding climate change and the cooperation between Saudi Arabia and the EU in environmental fields, SPA added.
They discussed ways to strengthen their existing cooperation on tackling climate change and the recent development in foreign policy in Europe and the Middle East.
Saudi Arabia maintains a strong dialogue with the EU, and both parties share close views on several foreign policy issues, including the Saudi-led Arab Peace Initiative for the Middle East, which aims to create a prosperous region for all its people and end the cycle of conflict.
The EU and Saudi Arabia are also linked through trade relations, which made the EU the Kingdom's second trading partner after the volume of trade exchange between Riyadh and Brussels peaked at $80 billion in 2023.
Saudi FM arrives in Italy to attend G7 ministerial meeting
RIYADH: Saudi foreign minister Prince Faisal bin Farhan arrived in Italy on Sunday to participate in an expanded ministerial meeting of the Group of Seven (G7) countries in Fiuggi, Saudi Press Agency reported.
The meeting will discuss the current situation in the Middle East, SPA added.
During his stay in Fiuggi, Prince Faisal will hold a number of discussions that will address regional and international issues.
Saudi fund chief receives Tajikistan’s deputy prime minister
- Saudi Ambassador to Tajikistan Walid Al-Rashidan was among the officials in attendance
RIYADH: CEO of the Saudi Fund for Development Sultan Al-Marshad received First Deputy Prime Minister of Tajikistan Hokim Kholiqzoda and his accompanying delegation in Riyadh on Sunday.
During the meeting, the Saudi fund’s development projects were discussed, as well as ways to enhance development cooperation between both sides, the official account wrote on X.
Saudi Ambassador to Tajikistan Walid Al-Rashidan was among the officials in attendance.
Kholiqzoda’s visit included a tour of the Saudi fund’s exhibition center, which showcases the organization’s 50-year journey, including notable development projects and their impacts on the lives of beneficiaries.
World’s first International Conference on Conjoined Twins kicks off in Riyadh
- Top World Health Organization official commends Saudi Arabia’s efforts in the field
RIYADH: The inaugural International Conference on Conjoined Twins kicked off in Riyadh on Sunday.
The event unites leading medical experts, humanitarian organizations, and families from around the globe to share vital insights, discuss innovative separation techniques, and forge collaborative pathways in the pursuit of improved lives for conjoined twins.
Riyadh Gov. Prince Faisal bin Bandar delivered a speech on behalf of King Salman celebrating the achievements of the Saudi Conjoined Twins Program, which has become a global leader in the field.
“Since 1990, 143 cases of twins from 26 countries have been reviewed by my dear colleagues, who have successfully separated a total of 61 pairs of twins to date,” he said.
Prince Faisal added that it is the only program globally specializing in separating conjoined twins, making it one of the largest humanitarian medical programs in the world.
He also highlighted a recent milestone: the UN General Assembly is considering an initiative by Saudi Arabia to designate Nov. 24 as the annual World Conjoined Twins Day.
In a video address, Dr. Tedros Adhanom Ghebreyesus, director general of the World Health Organization, congratulated Saudi Arabia on its leadership in organizing the conference.
“I commend Saudi Arabia for its leadership in organizing this important World Conjoined Twins Day Conference,” he said.
This recognition would honor the medical and humanitarian efforts in this field and highlight the challenges faced by conjoined twins and their families.
Ghebreyesus praised the initiative as a model for global collaboration in rare and complex medical cases.
“The conference provides critical insights, from surgical innovations to long-term strategies, shaping rare initiatives. A broader platform and registry for congenital anomalies would benefit low and middle-income countries,” he said.
A keynote address was delivered by Dr. Abdullah Al-Rabeeah, advisor to the Royal Court and supervisor-general of Saudi aid agency KSrelief.
As the head of the multidisciplinary team for the Saudi Conjoined Twins Program, Al-Rabeeah provided insights into the occurrence and challenges associated with conjoined twins.
The history of conjoined twin separation reveals both the challenges and progress in medical science.
“The first successful separation was by Johannes Fatio back in 1689 by using a constricting band for a set of Omphalopagus twins or those sharing liver and gastrointestinal organs,” he said.
With a 0.5 percent incidence rate, this early success involved “presumably, a small joining in the skin, probably a little bit of the liver,” said Al-Rabeeah.
He added that a major breakthrough came in 1957 with the first successful separation of Craniopagus, or twins sharing one brain.
Al-Rabeeah said that the epidemiology shows distinct patterns: “In Western countries, it’s been estimated that we get one conjoined twins in every 50 to 200,000 births.”
He added that, however, it is more prevalent in Southeast Asia and Africa, “presumably because identical twinning and twinning is (found) more in dark-skinned people in Africa and also in Southeast Asia, increasing the incidence.”
The survival statistics, Al-Rabeeah reported, entail that “60 percent of conjoined twins are stillborn, and those who live 40 percent of them will die in the first few days of life, and 70 percent of those who would survive will be females.”
He emphasized that the reasons behind this regional disparity remain unknown and require further research.
Throughout the conference, leading medical professionals presented their expertise on various aspects of caring for and separating conjoined twins. Topics included embryology, multidisciplinary team-building, antenatal care, and labor management.
Dr. Nadia Al-Ghilan, from the maternal-fetal medicine department at King Abdulaziz Medical City, gave a presentation titled “Caring for Conjoined Twins: A Prenatal Journey,” describing the complex process of managing pregnancies involving conjoined twins.
She said that caring for conjoined twins is a complex and delicate process as it requires meticulous prenatal planning and a dedicated medical team.
Al-Ghilan said that “this journey is filled with unique challenges, ethical considerations, and the utmost care to ensure the best possible outcomes for the twins and their family.”
Early diagnosis, she stressed, is critical for effective prenatal referral, counseling, and planning for delivery and postnatal care.
Al-Ghilan also underscored the importance of genetic testing in understanding the chromosomal health of conjoined twins.
“Techniques like amniocentesis and chorionic villus sampling can help identify genetic abnormalities, providing valuable information for developing treatment strategies.”
The conference not only serves as a platform for scientific exchange but also fosters dialogue on building global partnerships to support conjoined twins and their families, particularly in low and middle income countries. The conference emphasized the importance of comprehensive care, from prenatal counseling to post-separation rehabilitation.
For over 30 years, the Saudi Conjoined Twins Program has stood as a beacon of hope for families worldwide. The inaugural International Conference on Conjoined Twins is set to continue this legacy, inspiring further advancements in the care and treatment of conjoined twins globally.
