Saudi newspapers highlighted in their editorials today a number of issues at local, regional and international arenas. Okaz newspaper reported in its editorial that the recent report of Saudi Arabia's Capital Market Authority (CMA) came as an affirmation of the economic reforms and flexibility witnessed in recent years. The report revealed that the total trading by Saudis in the US stocks during 2020 increased by 606%, in light of Coronavirus pandemic. Moreover, the total trading in Saudi Stock Exchange (Tadawul) amounted to 2.42 trillion SAR, an increase of 137%. This thing is an indication of the development of the local market, and optimal use of financial technologies, as it confirms that all investment opportunities are available in Saudi Arabia, the paper added. The Saudis' tendency to invest in stock markets, especially in the local, and then US markets, confirms the knowledge and experience of the Saudis in seizing opportunities, the newspaper concluded. In another context, Al-Bilad newspaper said in its editorial that the Kingdom of Saudi Arabia's leadership has made the relations with Iraq a high priority, in light of the real desire to achieve everything that benefit the two brotherly countries and peoples, in addition to maintaining Iraq's security and protecting the region from external interference. Saudi Arabia in all regional and global forums has been keen to support Iraq and work to activate bilateral cooperation, the newspaper added. The newspaper pointed to the latest meeting between HRH the Crown Prince, and the Iraqi Prime Minister. The two sides, during the meeting, emphasized the importance of advancing cooperation and strengthening the coordination to the highest level, in order to accelerate the adoption of important decisions and the achievement of the aspirations of the two countries. They also stressed the importance of raising the level of security cooperation in a way that constitutes a protection wall for the benefit of the peoples of the region. Al-Riyadh newspaper reported in its editorial that the Saudi economic development programs were not limited to diversifying sources of income, promoting the position of new investment sectors, and growing the income of the non-oil sector, but also included the development of modern technologies that made it easier for citizens, residents, financial institutions and companies to conduct their banking transactions faster and in complete safety. The newspaper added that the Kingdom's Vision 2030 is keen for the development of the national economy. As a result, the Saudi Arabian Riyal Interbank Express (SARIE) system was launched. This system has many great advantages. Among the advantages of the new system is that it will allow customers of the banking sector to send and receive low-value local transfers, 24 hours a day, at low fees not exceeding one SAR, in addition to other services and features provided by the system to beneficiaries such as using the mobile number as an alternative identifier for the IBAN number for transfers between banks, the newspaper added.
