Business

Saudi ACWA Power expands portfolio with $693m acquisitions in Bahrain, Kuwait

the financial - 21 February, 2025

RIYADH: Saudi utility giant ACWA Power has strengthened its portfolio by acquiring a $693 million stake in power generation and water desalination companies in...

India may hike GST on cigarettes, tobacco products after compensation cess ends: Report

the financial - 21 February, 2025

Currently, cigarettes and tobacco products attract a 28 percent GST, in addition to a compensation cess and other levies, taking the total indirect tax...

HP Telecom India, Swasth Foodtech IPOs open for subscription today

the financial - 21 February, 2025

On February 28, HP Telecom India will make its debut on the NSE Emerge, while the trading in Swasth Foodtech shares will commence on...

Business

Saudi retail real estate sales to reach $183bn by 2027: Deloitte

the financial - 3 February, 2025

Report assessed the Kingdom’s real estate market in 2023 and projected trends for 2024 across various sectors Deloitte report said contribution of construction industry to...

Business

Flipkart Rolls Out Credit Card Bill Payments Feature

the financial - 30 January, 2025

SUMMARY Flipkart introduced credit card bill payments on its platform with zero convenience fee via Bharat Bill Payment Service, marking its latest expansion in digital...

Business

CardTrade’s revenue jumps to Rs 193 crore in Q3FY25; Profit zooms to Rs 46 crore

the financial - 30 January, 2025

CarTrade Tech Group, one of India’s largest auto classifieds and auction platforms, on Wednesday announced a 27% year-on-year increase in its quarterly revenue, reaching...

Business

UAE, India, and China among top destinations for KSA’s non-oil goods

the financial - 29 January, 2025

RIYADH: The UAE was the leading destination for Saudi Arabia’s non-oil exports in November, with outbound shipments to the Emirates reaching SR7.17 billion ($1.87 billion)...

Business

Saudi-based Walaa Cooperative Insurance Co. maintains ‘A-’ rating: S&P Global

the financial - 28 January, 2025

S&P expects Walaa to maintain this level of capital adequacy over the next two years It also expects the company to gradually improve its combined...

Business

Saudi benchmark index inches up 0.26% to close at 12,386

the financial - 28 January, 2025

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 32.12 points, or 0.26 percent, to close at 12,386.16. The total trading turnover on...

Business

Global sustainable bond issuance to reach $1tn in 2025: Moody’s

the financial - 27 January, 2025

Impending maturity wave is set to escalate, signifying additional refinancing requirements alongside regular issuance goals Moody’s said ESG risks this year will be influenced by...

Business

Corporate activities drive Saudi bank loans to highest growth rate in 18 months

the financial - 27 January, 2025

RIYADH: Saudi bank loans reached SR2.82 trillion ($753.27 billion) in August, representing an annual growth rate of 12.11 percent — the highest in 18...

Business

Saudi banks’ money supply hits $786bn, time and savings deposits share at 15-year high

the financial - 25 January, 2025

RIYADH: Saudi banks money supply reached SR2.95 trillion ($785.51 billion) in November, marking a 10.3 percent rise compared to the same month last year, according...

Business

Saudi foreign minister to lead Kingdom’s delegation at World Economic Forum in Davos

the financial - 24 January, 2025

This year’s forum, held under the theme of “Collaboration for the Intelligent Age,” takes place amid significant geopolitical tensions LONDON: Foreign minister Prince Faisal bin Farhan...

Business

Fintech sector transformation accelerating thanks to Vision 2030 reforms, analysts confirm

the financial - 23 January, 2025

JEDDAH: Reforms across Saudi Arabia’s financial landscape have significantly transformed the sector, driven by the Financial Sector Development Program, experts have told Arab News. One...

Business

UAE’s money supply M1 increases 1.5% to $247.7bn

the financial - 23 January, 2025

RIYADH: The UAE’s M1 money supply saw a monthly rise of 1.5 percent at the end of October, reaching 909.9 billion dirhams ($247.7 billion), according to the...

Business

Saudi banking sector poised for stability with 10% lending growth: S&P Global

the financial - 22 January, 2025

Mortgage lending in the Kingdom is set for growth, supported by lower interest rates Credit losses are expected to range between 50 and 60 basis...

Business

Here are 4 things you need to know about RIL shares ahead of Q3 results

the financial - 18 January, 2025

Mukesh Ambani led Reliance Industries (RIL) is set to announce its quarterly earnings for the fiscal year 2024-25 (Q3FY25) tomorrow, January 16. The conglomerate...

Business

Upcoming Q3 results: These are the 3 BIG earnings to watch today

the financial - 17 January, 2025

Infosys, Reliance Industries and Axis Bank will be declaring their Q3 results. The street is watching out for these numbers not just to assess...

Business

Aditya Birla Fashion to raise Rs 4,300 crore via pref issue, QIP

the financial - 17 January, 2025

ABFRL's shares closed trade on Wednesday at Rs 265.60 apiece, down 1.76% versus the previous day's close.Aditya Birla Fashion and Retail (ABFRL) on Wednesday...

Business

Let the Rupee find its balance

the financial - 16 January, 2025

What’s important is the relative value of the currency vis-à-vis peer currencies and not its absolute value.The sharp and swift depreciation in the value...

Business

Gold dips to ₹80,580, silver drops ₹1,300

the financial - 15 January, 2025

The drop in gold prices was attributed to rising US bond yields and a stronger US dollar, as market sentiments shifted from safe-haven assets...

Business

Gold prices extend rally for fifth consecutive session; silver holds steady

the financial - 14 January, 2025

Over the last five trading sessions, gold has appreciated by ₹1,660, or 2.1 per cent Gold prices rallied for a fifth straight session, rising ₹110 to...

Business

Sharechat cuts losses by 63 per cent to Rs 1,897 crore in FY24

the financial - 12 January, 2025

The company is targeting an IPO within the next 18-24 months after achieving overall profitability, which it expects by the end of FY25. Mohalla Tech,...