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Microsoft partners with regional businesses to accelerate digital transformation
Saudi Arabia’s stc Group, majority owned by the Public Investment Fund, has announced the expansion of its strategic partnership with global tech giant Microsoft.
To advance innovation across the Kingdom, the companies will unite to…
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Iran and Iraq pledge to forge stronger trade ties during official visit
Iran and Iraq have underscored the importance of using their national currencies to boost trade exchanges during high-level meetings in Baghdad, emphasizing the pivotal role of economic ties between the two nations.
In a meeting held in…
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Fed keeps interest rates unchanged, acknowledges economic strength
The Federal Reserve held interest rates steady on Wednesday but left the door open to a further increase in borrowing costs in a policy statement that acknowledged the US economy’s surprising strength but also nodded to the tighter…
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Saudi Arabia’s non-oil sector grows by 3.6% in Q3: GASTAT
Saudi Arabia’s non-oil sector expanded by 3.6 percent during the third quarter of 2023 compared to the same period last year, economic data released on Tuesday showed.
According to the General Authority for Statistics, government…
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ACWA Power expands Sudair Solar PV with 25% capacity boost
Saudi Arabia’s utility company ACWA Power has received a commercial operation certificate for the second phase of the 1,500 megawatts Sudair solar power project, according to a bourse filing.
The company told Tadawul on Sunday that it…
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GCC sustainable cultural assets could cut 1.3m tons of CO2: report
Investments in sustainable cultural assets have the potential to reduce the Gulf Cooperation Council region’s lifetime carbon emissions by at least 1.3 million tons, equivalent to removing 320,000 cars from the roads a year, according to a…
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Saudi exports of refined oil products rose 16% in August: report
Saudi Arabia’s exports of refined oil products grew by 16 percent in August compared to July, marked by higher shipments of diesel, according to data collated from the Joint Organizations Data Initiative.
The total volume of exported…
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Saudi Arabia’s NDMC closes October sukuk issuance at $1bn
Saudi Arabia’s National Debt Management Center concluded the October issuance of its SR-denominated sukuk program, amounting to SR3.98 billion ($1.06 billion) — a 64 percent surge over September.
The October issuance was divided into two…
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PIF partners with Italy’s Pirelli to set up $500m tire manufacturing plant
A $550 million tire factory is set to be built in Saudi Arabia after the Kingdom’s Public Investment Fund entered into a joint venture with Italy’s Pirelli.
According to a press statement, PIF will hold a 75 percent stake in the new JV,…
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Saudi banks witness unprecedented savings growth, lending expansion
Saudi citizens exhibited a remarkable surge in their savings habits in August, achieving the highest savings rate in over a decade, according to data released by the Kingdom’s central bank, also known as SAMA.
Saudi Arabia’s money supply…
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