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00:00 At a level of 10,500 points, the main Saudi market indicator Tassi began its journey in early 2023,
00:10 but the indicator did not hesitate to return to its lowest level during the year at a level of 9,900 points,
00:19 in the middle of last March, with a return to oil prices.
00:24 After that, the main Saudi market indicator Tassi was able to achieve a positive trend,
00:31 reaching a height that exceeded 11,900 points,
00:36 adding more than 1,400 points in 2023, with earnings exceeding 13%.
00:45 This year, Tassi witnessed the acquisition of seven companies in the main Saudi market,
00:50 and was the highest acquisition of a new level in 2023 for Addis Alqabida,
00:57 which raised 4.5 billion Riyals,
01:01 then the Saudi company SAAL, which raised about 2.5 billion Riyals,
01:06 then the company Jumjum Pharma, which raised 1.2 billion Riyals.
01:11 At the beginning of the year, this market went through a slow phase, but the huge companies that entered the market
01:20 made the market strong and acceptable to all investors.
01:25 We should not forget that there is a vision that this market will be among the ten global markets,
01:31 and this makes the reception of companies that organize their governance
01:36 and make those companies able to join this market,
01:40 and make it acceptable for investors, financial companies, and the banking sector to invest in those companies
01:48 and put them in the Saudi market.
01:51 This year, several legislative changes were made in the financial market,
01:55 where the financial market committee announced the adoption of the rules of fair financial sufficiency,
02:00 as the new system for companies was applied.
02:03 The rules for foreign investment in financial papers were also adopted,
02:08 in addition to the issuance and the start of the circulation of options contracts for individual stocks.
02:13 On the other hand, some sectors in the market this year were under pressure,
02:17 including the cement sector, with a 8% to 10% decline in demand in 2023,
02:24 which was a difficult year for this sector.
02:27 I think that in 2024 there will be unprecedented demand.
02:33 Most of the government projects and the projects of the General Investment Fund
02:36 have ended the design phase and started the implementation phase.
02:39 This means that the recovery energy for factories will be limited.
02:43 I think that according to the studies we conducted in the Office of Economic Consultations,
02:48 the existing factories do not meet the full demand,
02:52 whether by implementing all the projects at the time we hope to achieve the 2030 benchmark.
03:00 Today, the Kingdom, thank God, hosts the Expo in 2030.
03:04 We have the World Cup.
03:06 We have a lot of economic movements and movements that are happening in the Kingdom that are unprecedented.
03:10 This means that the development of developed countries always starts with their financial recovery.
03:16 Today, thank God, we have an unprecedented financial recovery.
03:20 Among the leading stocks, the banking sector benefited from the rise in interest rates.
03:25 Banks also achieved a 11% interest rate,
03:29 according to estimates by some Saudi financial experts.
03:34 The energy sector also benefited from the rise in oil prices.
03:38 We found the highest rise for Aramco's share in 2023.
03:43 In August last year, it was at 35.05 Riyals.
03:49 This year, it was excellent to have various companies enter the Saudi market,
03:53 in addition to some developments in the systems and regulations in the market.
03:58 Alshamre Sainbisi Arabia, Al Riyadh.