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Saudi commercial registrations surge 23% in Q4
Saudi Arabia’s commercial registrations saw a 23 percent increase in the fourth quarter of 2023 compared to the corresponding period in the previous year, official data showed.
Issued by the Ministry of Commerce, this certificate serves…
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Saudi companies brace for increased energy bills as Aramco raises prices
Several companies in Saudi Arabia announced expectations of higher energy bills following Aramco raising its prices.
Rabigh Refining and Petrochemical Co., also known as Petro Rabigh, said in a statement on Tadawul that it has received…
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Saudi Arabia plans new initiative to boost industrial activities
Saudi Arabia’s Ministry of Industry and Mineral Resources is planning to launch a new initiative to further support the growth of small and medium enterprises and boost the country’ industrial sector.
This was revealed by Minister of…
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Japan’s Saudi Arabia crude oil imports increased in November 2023
Japan’s imports of Saudi Arabia’s crude oil increased in November 2023, reaching 33.27 million barrels, or 42.7 percent of total imports, according to the Ministry of Economy, Trade and Industry.
During November, Japan imported 77.89…
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UAE’s non-oil sector records strong growth with a PMI of 57.4 in December
The non-oil sector in the UAE experienced its second-best growth in four-and-a-half years, as the Emirate’s Purchasing Managers’ Index reached 57.4 in December 2023, as per an economic tracker.
The latest S&P Global PMI report…
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SRC, Al-Rajhi Bank sign $1.54bn deal to boost residential real estate
Saudi Real Estate Refinancing Co. and Al-Rajhi Bank have entered into an agreement to expand the pool of new housing options for the Kingdom’s residents.
The deal involves the purchase of a real estate financing portfolio valued at SR5.8…
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Deposits from government-related entities help Saudi banks reduce liquidity pressure: Fitch
Increased inflows from government-related entities helped banks in Saudi Arabia reduce liquidity pressure in 2023, according to Fitch Ratings.
In its latest report, the credit rating agency noted that deposits from GREs surged by 23…
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AD Ports subsidiary acquires APM Terminals Castellón for $11m in Spain
Abu Dhabi Ports Group has expanded its operational capacity with the acquisition of Spain’s APM Terminals Castellón for €10 million ($10.93 million) through a subsidiary.
The deal was carried out by Noatum Terminals, the operations…
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Two citizens arrested for selling drugs in Qassim
Officers from Saudi Arabia’s General Directorate of Narcotics Control have arrested two citizens in Qassim for selling various drugs.
The government has urged anyone with information related to suspected smuggling operations or customs…
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Saudi Arabia’s GDP to surge by 4.4% in 2024: report
Saudi Arabia’s economy is likely to grow by 4.4 percent in 2024, Aljazira Capital has predicted in its year-end report.
The forecast is in line with the Kingdom’s Finance Ministry’s projection for the current year, whereas Moody’s…
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