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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Combined profit of capital market institutions in Saudi Arabia falls

The number of investment funds rose to 1,209 by the end of the three-month period, the highest on record.
  • The combined profit of capital market institutions in KSA was S$381 million in Q1 2022.
  • Revenues fell 2 percent to US$730 million in Q1 2023 from $744 million in Q1 2022.

RIYADH, SAUDI ARABIA –  The combined profit of capital market institutions in Saudi Arabia dropped 19 percent to US$306 million (SAR 1.15 billion) in Q1 2023, from US$381 million (SAR 1.43 billion) in the same period last year, the Capital Market Authority (CMA) said in a recent report.

Revenues fell 2 percent to US$730 million (SAR2.74 billion) during the first quarter of this year, from US$744 million (SAR 2.79 billion) in Q1 2022. Operating income also fell by 15 percent year-on-year (YoY) in Q1 2023.

Revenues from dealings fell 41 percent to US$116 million (SAR437.6 million) in Q1 2023, compared to nearly US$196 million (SAR 735.5 million) a year earlier.

Meanwhile, asset management revenues declined 6 percent YoY to US$235 million (SAR884.5 million) in Q1 2023.

The aggregate balance sheet of capital market institutions showed that combined assets grew by 18 percent to nearly US$15 billion (SAR57 billion), compared to US$13 billion (SAR48.4 billion) in Q1 2022.