{"id":97429,"date":"2025-05-27T00:00:00","date_gmt":"2025-05-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/05\/27\/six-saudi-firms-join-ftses-global-equity-roster-plus-a-new-oil-discovery-with-kuwait\/"},"modified":"2025-05-27T00:00:00","modified_gmt":"2025-05-27T00:00:00","slug":"six-saudi-firms-join-ftses-global-equity-roster-plus-a-new-oil-discovery-with-kuwait","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/05\/27\/six-saudi-firms-join-ftses-global-equity-roster-plus-a-new-oil-discovery-with-kuwait\/","title":{"rendered":"Six Saudi firms join FTSE\u2019s Global equity roster. PLUS: A new oil discovery with Kuwait"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CAPITAL MARKETS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> #1-<\/strong> <strong>Six Saudi com<\/strong><strong>panies will join FTSE Rusell\u2019s global equity indices following its quarterly<\/strong><strong> review of our market<\/strong>, effective on 19 June, <a target=\"_blank\" href=\"https:\/\/www.alarabiya.net\/aswaq\/financial-markets\/2025\/05\/26\/%D9%81%D9%88%D8%AA%D8%B3%D9%8A-%D8%B1%D8%A7%D8%B3%D9%84-%D8%AA%D8%B6%D9%8A%D9%81-6-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D9%84%D9%85%D8%A4%D8%B4%D8%B1%D8%A7%D8%AA%D9%87%D8%A7\" style=\"\" rel=\"noopener\">Al Arabiya<\/a> reports. Almajed Oud will be included in the mid-cap index, while our friends at Tasheel, along with Nice One, Arabian Mills, Fourth Milling, and Tamkeen will be added to the small-cap index. All six will be added to the broader FTSE Global Equity Index.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- <\/strong>Global index builder MSCI will raise the foreign inclusion factor for Aramco to 0.025% in its global indices starting 30 May. It will also add Jabal Omar Development and Makkah Construction and Development to its Emerging Markets Index. In addition, it will update its small-cap index to add Nice One, Arabian Drilling, Almoosa Health Group, Knowledge Economic City, and United International Holding while removing Al Jouf Agricultural, Herfy, and Sanad Holding.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2-<\/strong> <strong>Asas Capi<\/strong><strong>tal gets the go-ahead to start advising on securities: <\/strong>Dubai-based <a target=\"_blank\" href=\"https:\/\/asascapital.com\" style=\"\" rel=\"noopener\">Asas Capital<\/a> received the green light from the Capital Market Authority (CMA) to offer arranging and advising services in the securities market, according to a <a target=\"_blank\" href=\"https:\/\/cma.org.sa\/en\/Market\/News\/pages\/CMA_N_3797.aspx\" style=\"\" rel=\"noopener\">statement<\/a> from the CMA. The company met all the regulatory requirements since receiving its license back in July.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">OIL & GAS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi Ar<\/strong><strong>abia and Kuwait made a new oil discovery <\/strong><strong>in the North Wafra Wara-Burgan field<\/strong>, with the North Wafra well (Wara Burgan-1) pumping out oil at a rate exceeding 500 barrels per day (bbl \/ d), according to a <a target=\"_blank\" href=\"https:\/\/www.moenergy.gov.sa\/media-center\/news\/13c3f3e5-19c3-47f4-925b-003973048815\" style=\"\" rel=\"noopener\">statement<\/a> from the Energy Ministry. This marks the first discovery since production resumed in the partitioned zone and the adjacent offshore area in mid-2020.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> <a target=\"_blank\" href=\"https:\/\/www.kgoc.com\/UI\/oil-gas.aspx\" style=\"\" rel=\"noopener\">Wafra<\/a> \u2019s joint operations span 5k sq km in a partitioned zone between Saudi Arabia and Kuwait, operated jointly by Kuwait Gulf Oil Company (KGOC), representing the State of Kuwait, and Saudi Arabian Chevron (SAC), representing the Kingdom of Saudi Arabia.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">AUTOMOTIVE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Uber partner<\/strong><strong>s with Abdul Latif Jameel to de<\/strong><strong>velop its next-gen fleet operations platform in Saudi<\/strong><strong>: <\/strong>Uber Technologies inked an MoU with <a target=\"_blank\" href=\"https:\/\/alj.com\/en\/\" style=\"\" rel=\"noopener\">Abdul Latif Jameel<\/a> to explore developing a scalable fleet operations platform in the Kingdom, including autonomous vehicles (AVs), Abdul Latif Jameel said in a <a target=\"_blank\" href=\"https:\/\/alj.com\/en\/news\/abdul-latif-jameel-and-uber-sign-mou-to-explore-opportunities-to-advance-the-future-of-mobility-in-saudi-arabia\/\" style=\"\" rel=\"noopener\">press release<\/a>. Abdul Latif Jameel will provide local expertise, while Uber will contribute its global mobility technology.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER-<\/strong> Uber CEO Dara Khosrowshah announced at the <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb36474b-d5c7-4b30-9cb2-fce86198691e\/pif%25e2%2580%2599s-ai-powerhouse-humain-lands-usd-bns-in-agreements\" style=\"\" rel=\"noopener\">Saudi-US Investment Summit<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/cb36474b-d5c7-4b30-9cb2-fce86198691e\/pif%25e2%2580%2599s-ai-powerhouse-humain-lands-usd-bns-in-agreements\" style=\"\" rel=\"noopener\"><\/a> that self-driving cars would launch in Saudi Arabia this year. During the same event, Uber, along with other US tech companies, <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/0b805941-144c-42ef-ad73-dae55cdbdf2a\/the-kingdom-commits-usd-600-bn-in-us-investments,-to-reach-usd-1-tn\" style=\"\" rel=\"noopener\">committed<\/a> to investing a combined USD 80 bn in joint technology investments in the Kingdom and the US. On a separate note, Uber Technologies was the PIF\u2019s <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/c5bea861-45cc-415d-8aec-197f53770eb8\/syria%25e2%2580%2599s-world-bank-debts-paid-up\" style=\"\" rel=\"noopener\">largest Wall Street investment<\/a> during 1Q 2025, receiving USD 5.3 bn at the end of March 2025.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">LOGISTICS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Evergreen<\/strong><strong> links Dammam to nine key ports:<\/strong> The Saudi Port Authority (Mawani) added Evergreen\u2019s shipping service ARPG to Dammam\u2019s King Abdulaziz Port, connecting it to nine ports, according to a <a target=\"_blank\" href=\"https:\/\/mawani.gov.sa\/article?news=260525\" style=\"\" rel=\"noopener\">statement<\/a> from Mawani.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The new service<\/strong>, which boasts a capacity of 9.5k TEUs, will connect King Abdulaziz Port to the ports of Klang in Malaysia, Laem Chabang in Thailand, Vung Tau in Vietnam, Kaohsiung in Taiwan, Yantian, Ningbo, and Shanghai in China, Umm Qasr in Iraq, and Jebel Ali in the UAE.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI-<\/strong> Mawani added AP Line\u2019s shipping service Al Pakistan Gulf to King Abdulaziz Port <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/5dcac738-b091-42bc-9ed9-2a72f15bb3e8\/amak-forms-consortium-for-nuqrah-mining-bid#:~:text=LOGISTICS%2D-,Mawani%20boosts%20links%20to%20Pakistan%2C%20UAE,-%3A%20The%20Saudi\" style=\"\" rel=\"noopener\">last month<\/a>, connecting it to the ports of Karachi in Pakistan and Jebel Ali in the UAE, with a capacity of 2.9k TEUs. Mawani also inked a contract with Dammam-based Sultan Logistics Company <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/a94077e4-1c18-4c07-94ed-246da241d185\/emaar-reschedules-sar-3.4-bn-in-debt-facilities#:~:text=Dammam%20to%20get%20a%20new%20SAR%20200%20mn%20logistics%20zone%3A\" style=\"\" rel=\"noopener\">last month<\/a> to develop a 197k sqm logistics zone in the port, valued at SAR 200 mn, to strengthen the port\u2019s operational efficiency.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">INS.-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Ins. A<\/strong><strong>uthority <\/strong><strong>stripped<\/strong><strong> 28 ins. firms of their licences<\/strong>, it said in a <a target=\"_blank\" href=\"https:\/\/ia.gov.sa\/news-details\/67\" style=\"\" rel=\"noopener\">statement<\/a>. These revocations are based on the Cooperative Insurance Companies Control Law and associated regulations, following regulatory actions initiated in August 2024. The move aims to safeguard the rights of the insured and support financial stability.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some of the companies whose licenses were revoked include<\/strong> Shire Ins. Agency, Al Bulurat Ins. Brokerage Services, Al Sabil Asia Ins. and Reins. Brokerage, Al Aman Ins. and Reins. Brokerage, and Future Vision Ins. Brokerage. The full list of affected companies is spelled out in the authority\u2019s statement.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TRADE-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The Commerc<\/strong><strong>e Ministry launched a new digital commercial registration<\/strong> <strong>certificate for businesses in the Kingdom<\/strong> that is designed to consolidate all business activities under a single national license, eliminating traditional expiration dates while offering instant data access via a QR code, the Ministry said in a post on <a target=\"_blank\" href=\"https:\/\/x.com\/MCgovSA\/status\/1926550831433715838\" style=\"\" rel=\"noopener\">X<\/a> on Sunday.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN CONTEXT-<\/strong> The cabinet approved a new Commercial Registration Law and Trade Name Law <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/ae337b14-d396-4ec9-81e2-4ce2fa828fe4\/a-rundown-of-the-newly-approved-commercial-registration-%2B%253cmark%253e-trade%253c%2Fmark%253e-name-laws\" style=\"\" rel=\"noopener\">in September<\/a>, aimed at simplifying procedures and making it easier to do business. Under the updated law, companies are required to have a singular commercial register covering all of their activities in the Kingdom.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MANUFACTURING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Arabian Pipes was<\/strong><strong> awarded a SAR 104 mn, nine-month contract to manufacture <\/strong><strong>and supply steel<\/strong><strong> pipes to Aramco<\/strong>, according to a <a target=\"_blank\" href=\"https:\/\/www.saudiexchange.sa\/wps\/portal\/saudiexchange\/newsandreports\/issuer-news\/issuer-announcements\/issuer-announcements-details\/?anId=87677&anCat=1&cs=2200&locale=en\" style=\"\" rel=\"noopener\">disclosure to Tadawul<\/a> published yesterday. Arabian Pipes landed a similar contract with Aramco <a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\/news\/story\/584a95a9-7bdb-4b6f-974d-069e78a60fd6\/savola-inches-closer-to-a-sar-6-bn-rights-offering#:~:text=Arabian%20Pipes%20was%20awarded%20a%20SAR%20107%20mn%2C%2011%2Dmonth%20contract%20to%20supply%20steel%20pipes%20to%20Aramco\" style=\"\" rel=\"noopener\">in August<\/a> for SAR 107 mn, spanning 11 months.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ALSO: MSCI hikes Aramco inclusion to 0.025%<\/p>\n","protected":false},"author":1,"featured_media":97430,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2564],"tags":[2263,3216,4266,54,961,1820,139,649,1056,10,1883,3452,4228,4279,170,4073,3035,3553,262,4297,3273],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-academy-of-learning-aol","tag-almajed-oud","tag-almoosa-health-group","tag-also-on-our-radar","tag-arabian-drilling","tag-arabian-mills","tag-aramco","tag-astrolabs","tag-capital-market-authority-cma","tag-enterpriseam-ksa","tag-fourth-milling-company-mc4","tag-ftse-russell","tag-herfy-foods","tag-ins-authority","tag-knowledge-economic-city","tag-makkah-construction-and-development-company-mcdc","tag-msci","tag-nice-one-beauty","tag-pan-gulf-marketing","tag-tasheel-finance-2","tag-united-international-holding-company","wpautop","entry"],"acf":{"mongo_id":"acf7d613-decb-4c26-8299-9e89818fb88e","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/5\/2223.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Six Saudi firms join FTSE\u2019s Global equity roster. PLUS: A new oil discovery with Kuwait","related_issue":[97413],"teaser":"ALSO: MSCI hikes Aramco inclusion to 0.025%","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/5\/.d93943ef-4842-4598-91fa-0020e8f3c31f.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Six Saudi firms join FTSE\u2019s Global equity roster. 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