RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Thursday, losing 34.63 points, or 0.3 percent, to close at 11,364.11. 

The total trading turnover of the benchmark index was SR4.71 billion ($1.25 billion), as only 65 stocks advanced, while 173 retreated. 

The MSCI Tadawul Index decreased by 3.77 points, or 0.26 percent, to close at 1,452.01. 

The Kingdom’s parallel market, Nomu, rose, gaining 153.78 points, or 0.55 percent, to close at 27,931.49. This comes as 40 stocks advanced, while 34 retreated. 

The best-performing stock on the main market was Al Majed Oud Co., with its share price surging by 9.88 percent to SR129. 

Other top performers included Saudi Arabian Cooperative Insurance Co., which saw its share price rise by 4.38 percent to SR15.24, and MBC Group Co., which saw a 3.79 percent increase to SR42.45. 

Gulf General Cooperative Insurance Co. recorded the largest decline of the day, with its share price slipping 9.98 percent to SR7.76. 

United Cooperative Assurance Co. saw its shares fall by 9.23 percent to SR8.06, while Middle East Healthcare Co. recorded a decline of 8.91 percent, closing at SR64.40.  

On the announcements front, ACWA Power Co. reported its interim financial results for the first three months of the year, posting a net profit of SR427.1 million — a 14.9 percent decline compared to the previous quarter. 

The company attributed the drop in net profit to an impairment recovery recognized in the prior quarter, higher financial charges, and a lower deferred tax credit. 

ACWA Power Co.’s shares on the main market rose 0.54 percent in today’s trading session, closing at SR299.40. 

In another announcement, Gas Arabian Services Co. also announced its financial results for the same period with its net profit rising by 46.9 percent to SR31.3 million compared to the same period last year. 

The company credited the growth to substantial growth in revenue and savings in cost of revenue. 

The GAS’s share price traded 0.89 percent higher to reach SR15.80. 

During the first quarter of the year, Saudi Reinsurance Co.’s net profit after Zakat reached SR35.4 million, up by 11.3 percent compared to the same period in 2024.  

This growth was attributed to an increase in reinsurance revenue by 56 percent, coupled with a rise in net profit of reinsurance results and net investment profit. 

Moreover, the National Shipping Co. of Saudi Arabia and Bupa Arabia for Cooperative Insurance Co. also announced their financial results for the first quarter of 2025, with net profits reaching SR532.8 million and SR380.2 million, respectively. 

Bahri’s shares on the main market declined by 3.55 percent to close at SR29.90, while Bupa Arabia’s shares fell 0.56 percent to SR178.20. 

RIYADH: Saudi Arabia’s intellectual property landscape continued its robust growth in 2024, with patent filings rising by 13.33 percent year on year to reach a record 8,029, according to the Saudi Authority for Intellectual Property.

The authority’s annual statistical report highlighted significant expansion across all key IP categories, underscoring the Kingdom’s ongoing transformation into a knowledge-based economy.

Patent applications from individuals surged by 62 percent, while filings by foreign applicants rose 15 percent to 4,921. The increase reflects rising global interest in protecting innovations within the Kingdom.

Trademark registrations totaled 31,834 in 2024, marking a 15.72 percent increase, while design filings grew by 8.75 percent. Voluntary copyright registration also saw a notable 63.15 percent jump, indicating greater public engagement with IP rights.

SAIP issued 4,355 patent certificates, 1,578 design registrations, and 1,504 copyright certificates throughout the year.

The report also noted that 96 percent of granted patents originated from institutions, highlighting the active role of universities and research centers in the innovation ecosystem. Individual inventors filed 2,139 patent applications — up from 1,320 in 2023—showing growing grassroots participation.

In terms of technical fields, information technology and software accounted for 25.77 percent of total patent filings. Library and document management comprised 57.16 percent, and applied technical inventions followed at 12.46 percent.

Public understanding of intellectual property also improved, with SAIP reporting an 8 percent rise in the national IP awareness index. This was attributed to expanded electronic services, streamlined procedures, and national initiatives aimed at safeguarding innovators’ rights.

Internationally, Saudi Arabia’s efforts have not gone unnoticed. The Kingdom recorded a 17.5 percent improvement in its score on the 2025 Global Intellectual Property Index, placing it among the top-performing countries out of 55 economies evaluated.

Saudi Arabia also ranked 24th globally in artificial intelligence patent output, with 1,189 AI-related patents filed—further cementing its commitment to technological advancement and innovation-led growth.

The Kingdom’s achievements are the result of sweeping reforms to its IP framework, including enhanced legal protections and enforcement strategies that aim to foster a more competitive, innovation-driven economy.