Saudi Central Bank Lowers Benchmark Rate By 25 Bps Following US Fed Decision
RIYADH: Saudi Arabia’s central bank has implemented its second interest rate reduction of 2024, lowering the benchmark... Read more
Oil Updates – Prices Fall More Than 1 Percent As Hurricane Rafael Risk Recedes
LONDON: Oil prices fell on Friday on receding fears over the impact of Hurricane Rafael on oil and gas infrastructure in... Read more
Saudi Bank Loans Reach Highest Growth Rate In 19 Months, Surpassing $761bn
RIYADH: Saudi bank loans reached SR2.85 trillion ($760.84 billion) in September, representing an annual growth rate of 1... Read more
Closing Bell: GCC Stock Markets Up In Wake Of Trumps Election Win
RIYADH: Following Donald Trump’s victory in the US presidential election, stock markets across the Gulf Cooperation Co... Read more
ACWA Power Reports 16% Profit Increase Amid Record Project Launches
RIYADH: ACWA Power, the Saudi-listed energy and water desalination company, has announced a 16 percent increase in its p... Read more
MODON Signs Contracts Worth Over $533m To Establish Industrial Complexes In Makkah, Al-Kharj
JEDDAH: Agreements to invest over SR2 billion ($533 million) in new industrial complexes will bring growth and job oppor... Read more
UAE Banking Sectors Net International Reserves Grow 11% By July 2024
RIYADH: The UAE’s banking sector saw a significant increase in its net international reserves, which rose by 11.1 perc... Read more
Logistics and Healthcare Startups To Get Boost From Saudi Government, assistant Deputy Minister Says
RIYADH: Saudi Arabia is set to launch multiple programs to boost its rapidly expanding startup ecosystem, focusing on ... Read more
Biban 24 Sees Deals Worth Over $359m On Its 2nd day
RIYADH: Agreements totaling SR1.35 billion ($359 million) were signed on the second day of Biban 24, a key event focused... Read more
Startup Wrap – Saudi VCs Pour Capital Into Ventures Through Strategic Investments
RIYADH: Saudi venture capital firms are fueling regional innovation through substantial investments and new initiatives.... Read more
Oil Updates – Crude Gains More Than $1/bbl On Reports Iran Preparing Strike On Israel
SINGAPORE: Oil prices extended gains on Friday, climbing more than $1 a barrel to pare weekly losses, as geopolitical te... Read more
Saudi Arabias Wafi Energy Becomes Majority Shareholder In Shell Pakistan
ISLAMABAD: Wafi Energy Holding has become the majority shareholder of Shell Pakistan after Shell Petroleum Co., a subs... Read more
Saudi Banks Credit Card Loans Surge 14%, Reach A Record High Of $8.07bn
RIYADH: Credit card loans by Saudi banks hit a record high of SR30.27 billion ($8.07 billion) in the third quarter of 20... Read more
Oil Extends Gains On Reports Iran Preparing To Strike At Israel
SINGAPORE: Oil prices extended gains in early Asian trade on Friday, following reports that Iran was preparing a retalia... Read more
Red Sea Global Secures $1.5bn For AMAALA Infrastructure project
JEDDAH: Red Sea Global has announced the financial closing of a multi-utility infrastructure development project for the... Read more