Business

Saudi hotel industry sees 11.4% spending surge, amid overall weekly POS decline: SAMA

the financial - 21 November, 2024

RIYADH: Spending in Saudi hotels saw a week-on-week increase of 11.4 percent between Nov. 10 and 16, reaching SR399.7 million ($106.4 million), according to the...

Saudi economic growth to accelerate to 4.7% in 2025: Moody’s

the financial - 21 November, 2024

RIYADH: Saudi Arabia’s economy is set to grow by 1.7 percent this year, before accelerating to 4.7 percent in 2025 and 2026, driven by...

COP29: Developing countries urge action on climate finance deal

the financial - 20 November, 2024

Measures available to manage the rising global temperature are not sufficient, a leading Thai official has told the UN’s climate change conference in Baku. Speaking...

Business

Saudi Arabia, Tunisia sign deal to boost bilateral investments

the financial - 19 November, 2024

Deal focuses on sharing regulations and laws to enhance investment environment in both countries Talks covered several sectors of mutual interest, including industry, transport, and...

Business

Saudi Arabia’s demand for apartments pushes new mortgages over $16bn

the financial - 18 November, 2024

RIYADH: Banks in Saudi Arabia granted SR60.92 billion ($16.24 billion) in residential mortgages in the first nine months of 2024, an annual rise of 4.88...

Business

Saudi Arabia’s official reserves reach $457bn, up 4%

the financial - 18 November, 2024

RIYADH: Saudi Arabia’s official reserve assets reached SR1.71 trillion ($456.97 billion) in September, marking a 4 percent increase year-on-year, according to new data. Figures released by...

Business

Startup Wrap — Proptech leads startup investment in region as sector sees funding drop

the financial - 18 November, 2024

RIYADH: Saudi Arabia’s real estate tech platform Ejari secured the largest startup investment across the Middle East and North Africa in October as the...

Business

Saudi PIF raises over $1bn with 2% stc stake sale

the financial - 17 November, 2024

Following the sale, PIF retains a 62 percent ownership in stc, equivalent to 3.1 billion shares The sale aligns with PIF’s broader strategy to recycle...

Business

Mizuho to launch Saudi ETF with sovereign fund PIF

the financial - 15 November, 2024

TOKYO: Japan’s Mizuho Financial Group is partnering with Saudi Arabia’s Public Investment Fund to create a Tokyo-listed exchange-traded fund featuring Saudi shares, providing retail...

Business

Taqa Group reports Dh6.3 billion net income for the first nine months of 2024

the financial - 15 November, 2024

Abu Dhabi National Energy Company PJSC (Taqa) on Thursday announced group revenues of Dh41.7 billion, 6.0 per cent higher than the prior year period,...

Business

Saudi PIF to offer 2% of Saudi Telecom Co. shares to investors

the financial - 15 November, 2024

Goldman Sachs Saudi Arabia and SNB Capital are acting as joint global coordinators and bookrunners for PIF Remaining shares held by PIF represent 62% of...

Business

Saudi National Housing Co. signs 21 new deals on Cityscape’s 2nd day

the financial - 14 November, 2024

Agreements also included partnerships with leading global companies in the manufacture of electrical appliances REDF signed four MoUs at the event to strengthen partnerships in...

Business

GCC banks to remain resilient in 2025 despite anticipated rate cuts: S&P Global

the financial - 14 November, 2024

S&P Global predicts a manageable impact on bank margins GCC banking sector’s strong efficiency provides solid foundation for continued growth and resilience through 2025 RIYADH: Banks...

Business

COP29: World leaders urged to close $359bn adaptation finance gap by UN Secretary-General

the financial - 13 November, 2024

Antonio Guterres stressed the need for a significant increase in concessional finance He called on wealthier nations to prioritize this support, especially for communities struggling...

Business

Dubai’s Salik reports Dh822-million net profit in 9 months; revenue from fines hits Dh174.8 million

the financial - 13 November, 2024

Dubai's toll operator Salik Company PJSC has reported a profit of Dh822 million in the third quarter of the year. The company reported the highest...

Business

UAE: Gold prices fall sharply, lose Dh6.5 per gram in 24 hours

the financial - 12 November, 2024

Gold prices in the UAE extended their losses on Tuesday morning, losing Dh2 per gram at the opening of the markets following D4.5 per...

Business

Biban 24 concludes with $9bn in deals, boosting Saudi Arabia’s SME sector

the financial - 11 November, 2024

Biban 24 marked a landmark achievement for Saudi Arabia’s entrepreneurial framework Several financing agreements were signed with local banks, amounting to over SR15 billion RIYADH: Agreements...

Business

UAE’s non-oil sector activity grows at fastest pace since April

the financial - 9 November, 2024

The pace of growth in UAE non-oil companies improved in October to the quickest since April, as firms often raised output in response to...

Business

Gold regains ground on dollar’s retreat as markets await Fed rate decision

the financial - 8 November, 2024

Gold prices rebounded from a three-week low on Thursday on the back of a weaker dollar and as investors awaited the U.S. Federal Reserve...

Business

ADIPEC 2024 concludes with $10bn of deals and record attendance

the financial - 8 November, 2024

ADIPEC 2024 was a commercial success with more than $10bn of deals announced at the energy conference in the UAE ADIPEC 2024 has concluded with $10bn...

Business

Saudi Tadawul Group eyes M&As to strengthen capital markets: Bloomberg

the financial - 7 November, 2024

RIYADH: Saudi stock exchange operator Tadawul Group is ramping up plans for mergers and acquisitions to expand the Kingdom’s capital markets amidst a wave...

Business