RIYADH: Saudi Arabia’s Tadawul reinforced its position as the Arab world’s leading stock exchange, accounting for 62 percent of the total market capitalization of regional platforms in 2024.

A recent report by the Arab Federation of Capital Markets said Tadawul’s market capitalization overshadowed other regional exchanges, with the Abu Dhabi Securities Exchange following at a distant 18.6 percent.

The Dubai Financial Market, with a share of 5.6 percent, the Qatar Stock Exchange at 3.9 percent, and Boursa Kuwait, holding 3.2 percent, rounded out the top five.

This dominance comes amid strong performance in the Saudi market, leading the region with the highest turnover ratio of 247.1 percent.

The trading value at Tadawul reached $496.6 billion, significantly outpacing other markets.

The Arab Federation of Capital Markets achieved an 84.4 percent increase in total revenues, from $689,503 in 2023 to $1.2 million in 2024. 
The FTSE-AFCM Low Carbon Select Index rose 4.9 percent in 2024, indicating increased investor interest in low-carbon companies.

Iraq Stock Exchange’s ISX60 index experienced a 20.2 percent surge in 2024 to 1,074 points, while Muscat Stock Exchange’s MSX30 index saw a 1.4 percent increase to 4,577 points. 

Abu Dhabi Securities Exchange’s FADGI index witnessed a 1.7 percent decline to 9,419 points, and QSE’s QE index dipped by 2.4 percent in 2024 to 10,571 points.

Arab stock exchanges saw strong growth in 2024, with total trading values rising by 58.1 percent to surpass $1.03 trillion. The Egyptian Exchange led the way with a substantial 210.3 percent increase in trading value, reaching $324.4 billion. 

Other exchanges also saw positive results, such as the Casablanca Stock Exchange, which grew by 55.2 percent, and the Damascus Stock Exchange, which saw a 163.3 percent increase. 

Some platforms, including the Palestine Exchange, which saw a 56.4 percent decline in trading value, faced challenges. 

Overall, trading volumes across the region grew by 21.3 percent, and the number of trades increased by 35.9 percent, reflecting a dynamic financial landscape with varying performances across different markets.

The S&P Pan Arab Composite Index rose by 1.9 percent year-on-year in December, while the Amman Stock Exchange index posted a modest 2.4 percent growth. The Casablanca market saw its MASI index jump by 22.2 percent, demonstrating strong performance in the Moroccan market. 

The Damascus Stock Exchange index registered the largest increase at 65.7 percent, and the Saudi Exchange index saw the smallest growth at 0.6 percent during this period.

RIYADH: Qatar’s international reserves and foreign currency liquidity rose 3.81 percent in February, reaching 255.916 billion Qatari riyals ($70.29 billion), up from 246.509 billion riyals in the same month last year.  

According to the latest data from the Qatar Central Bank, official reserves increased by 9.218 billion riyals, totaling 196.817 billion riyals at the end of February, despite a 13.175 billion riyal decline in foreign bonds and Treasury bills holdings, which stood at 125.790 billion riyals, Qatar News Agency reported.  

Official reserves comprise several components, including foreign bonds and treasury bills, cash balances with foreign banks, gold holdings, Special Drawing Rights, and Qatar’s quota at the International Monetary Fund. 

In addition, the central bank’s total international reserves include other liquid assets in foreign currency deposits. 

The figures reflect continued growth in Qatar’s international reserves, highlighting the country’s financial stability despite fluctuations in global markets. 

Gold reserves saw a significant uptick, rising by 13.85 billion riyals to 38.263 billion riyals. Cash balances with foreign banks increased by 8.63 billion riyals, reaching 27.67 billion riyals. Conversely, SDR deposits at the International Monetary Fund decreased by 98 million riyals, totaling 5.09 billion riyals.    

Qatar recorded a budget surplus of 900 million riyals in the fourth quarter of 2024, up from 100 million riyals in the previous quarter. 

In January, the Ministry of Finance stated on its X account that the surplus would be used to reduce public debt. It added that total expenditures for the quarter stood at 47.8 billion riyals, a 12 percent year-on-year decline, while revenues totaled 48.7 billion riyals, reflecting a 12.5 percent drop.  

The health, municipal and environment, general secretariat, and energy sectors ranked as the top-performing areas during the quarter, according to the Sector Performance Index. 

Qatar’s fiscal performance aligns with other Gulf Cooperation Council nations, such as Oman, which recorded a 6.2 percent budget surplus in 2024.  

This reflects the IMF’s December review, which highlighted the region’s resilience amid oil production cuts, supported by diversification efforts and economic reforms.  

Qatar’s real gross domestic product is expected to grow by 2 percent in 2024-25, driven by public investment, liquefied natural gas spillovers, and a robust tourism sector, according to the IMF.

It projected the Gulf nation’s medium-term growth to average 4.75 percent, fueled by a significant expansion in LNG production and the early impact of reforms under the Third National Development Strategy.