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Saudi minister holds talks with Microsoft, IBM and others over expansion plans
Microsoft and IBM were among several leading tech companies to hold talks over expanding their operations in Saudi Arabia in artificial intelligence, innovation, and the digital economy.
The Kingdom’s Minister of Communications and…
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Saudi EXIM Bank and SABIC sign letter of credit insurance policy
The Saudi Export and Import Bank has signed an agreement to insure Saudi Basic Industries Corporation’s sales on a letter of credit basis across 40 countries against non-payment risks posed by the issuing banks, the bank said in a statement…
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Saudi statistics authority signs cooperation deal with National Center for Debt Management
Saudi Arabia’s General Authority for Statistics and the National Center for Debt Management have signed an agreement to enhance cooperation, coordination and integration.
The memorandum of understanding calls for the development of a…
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Saudi Arabia and Singapore aim to enhance strategic partnership in digital economy and tech
Saudi Arabia’s minister of communications and information technology, Abdullah Al-Swaha, held talks with his counterpart from Singapore, Josephine Teo, on the sidelines of the World Economic Forum in Davos on Wednesday.
They discussed…
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PIF plans big investments in semiconductor and space industries, minister says
Saudi Arabia’s sovereign wealth fund plans to spend heavily in the semiconductor and space industries this year, according to the minister of communications and information technology.
Speaking on the sidelines of the World Economic…
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Saudi Arabia closes January sukuk issuance at $2.35bn
Saudi Arabia’s National Debt Management Center concluded its riyal-denominated sukuk issuance for January at SR8.825 billion ($2.35 billion).
The January offerings were divided into three tranches, according to an official statement.…
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AI use rises in Saudi insurance sector amid 80m transactions in 2023
Saudi Arabia’s insurance sector utilized artificial intelligence in over 50 percent of customer service dealings in 2023 as it recorded more than 80 million transactions.
Data from the General Organization for Social Insurance revealed…
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UAE bank gets approval to operate in Saudi Arabia
The UAE’s Abu Dhabi Commercial Bank has become yet another player to have obtained a permit to operate in the fast-expanding financial market of Saudi Arabia.
Among other decisions, the Kingdom’s Cabinet on Tuesday licensed Abu Dhabi…
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Saudi Arabia’s inflation falls to 1.5% in December: GASTAT
Saudi Arabia’s inflation fell to 1.5 percent in December 2023, compared to 1.7 percent in the previous month, official data showed.
According to the latest report from the General Authority for Statistics, the decline in the inflation…
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MENA bond issuances surge $95.9bn in 2023, reports KAMCO Invest
Aggregate bond issuances in the Middle East and North Africa region reached $95.9 billion in 2023, marking an 18.98 percent increase compared to 2022.
According to a report released by KAMCO Invest, this growth was propelled by higher…
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