Saudi non-oil exports jump 12.7% to $6.76bn in October: GASTAT
Saudi Arabia’s non-oil exports surged 12.7 percent year on year in October, reaching SR25.38 billion ($6.76 billion), underscoring the Kingdom’s push to diversify its economy away from oil dependence. According […]
IMF staff-level agreement set to pave way for $1.2bn funding for Egypt
Egypt will potentially have access to around $1.2 billion from the International Monetary Fund, following a staff-level agreement under the Extended Fund Facility. The agreement, which is subject to approval […]
‘FOMEX 2025’ set to kick off on February 19
The third edition of Future of Media Exhibition (FOMEX), the region’s largest exhibition specializing in media and digital production technology in the Middle East, is set to take place from […]
Spanish group Ayesa wins PMC contract for big Aramco stadium
Ayesa, a global provider of technology and engineering services headquartered in Spain with offices in 23 countries, has been awarded the project management consultancy (PMC) contract by Saudi oil giant […]
Aramco secures prime ratings for $10bn commercial paper program from Moody’s and Fitch
Saudi Aramco’s robust financial standing has been reaffirmed by Moody’s and Fitch, with the agencies assigning strong ratings to the energy giant’s newly established $10 billion US Commercial Paper Program. […]
Oil Updates — prices rise in thin pre-Christmas trade
Oil prices rose on Tuesday, reversing the prior session’s losses, buoyed by slightly positive market outlooks for the short term and stronger US economic data, despite thin trade ahead of […]
Saudi Arabia to welcome Middle East’s first TRIBE hotel in King Salman Park
French hospitality group Accor and Naif Alrajhi Investment have signed an agreement to bring the Middle East’s first TRIBE hotel to Saudi Arabia. The project, featuring a 250-key property, will […]
Saudi banks report 24% profit growth amid strong non-interest income
Saudi banks’ aggregate profit reached SR7.7 billion ($2.05 billion) in October, marking a 23.67 percent year-on-year increase, newly released data has revealed. According to the Saudi Central Bank, also known […]
Arab markets see 60% surge in trading volumes in November: AMF
Trading activity across Arab financial markets surged in November, with volumes jumping nearly 60 percent, driven by strong performance in Iraq and other regional exchanges, a new report showed. In […]
‘Paradigm shift’ as GCC urban population to surge 30% by 2030: Arthur D. Little
Urban populations across the Gulf Cooperation Council region are projected to grow 30 percent from 2020 to 2030, increasing demand for housing, infrastructure, and inclusive development, analysts say. In its […]
