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Jordanian banks launch first private sector investment fund with $388m commitment
Promising Jordanian firms are set to have access to new financing with the launch of a private sector fund, backed by 16 local banks.
The Jordan Capital and Investment Fund, established in 2021 with a capital commitment of 275 million…
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Libya says it suspended oil production at largest field after protesters forced its closure
Production at Libya’s largest oil field was suspended Sunday, the country’s state-run oil company said, after protesters forced the facility to close over fuel shortages.
The National Oil Corp. declared force majeure at the Sharara oil…
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Saudi Arabia’s industrial sector set to thrive on innovative production principles
Saudi Arabia is looking to adopt pioneering manufacturing techniques as it seeks to turn its industrial sector into a key driver of growth, according to a top analyst.
Karim Shariff, Middle East head of advanced manufacturing services…
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Non-oil shipments to India, Singapore drive Saudi Arabia’s export growth
Saudi Arabia’s merchandise exports reached a seven-month high in October totaling SR104.31 billion ($27.8 billion), data released by the General Authority of Statistics showed.
Representing a marginal increase of 0.014 percent compared…
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Riyadh will welcome world to Expo 2030 with a renaissance in digital innovation, says Saudi minister
The Saudi minister of communications and information technology, Abdullah Al-Swaha, said on Saturday the Kingdom’s commitment to hosting Expo 2030 reflects its desire to be a global leader in efforts to empower people, protect the planet…
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Saudi Arabia’s venture ecosystem boosts MENA funding
Saudi Arabia has solidified its position as a top destination for venture capital funding in the Middle East and North Africa thanks to a record-breaking end to 2023.
In December, the region witnessed an unprecedented influx of startup…
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Saudi FDI inflows rise 29% amid ongoing economic reforms
As a result of ongoing economic reforms, Saudi Arabia recorded a 29.13 percent surge in foreign direct investment inflows in the third quarter of 2023, compared to the previous three months.
FDI inflows, which refer to the total amount…
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World food price index ends 2023 some 10 percent below 2022 levels
The UN food agency’s world price index ended last year about 10 percent below its 2022, with values in December also down from the previous month, helping further ease concerns over global food price inflation, according to Reuters.
The…
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Saudi Arabia gives green light to 2024 annual borrowing plan
The Saudi finance minister has officially approved the Kingdom’s annual borrowing plan for 2024, covering various financial aspects for the new year.
Mohammed Al-Jadaan gave the green light to the strategy following the endorsement by…
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PIF raises stake in MEPCO to 23.08% through capital increase
Saudi Arabia’s sovereign wealth fund has raised its stake in Middle East Paper Co. to 23.08 percent through a capital increase and the subscription of new shares.
In a press statement, the Public Investment Fund stated that the deal will…
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