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Saudi Arabia, South Korea sign 52 MOUs to boost cooperation across various sectors
Saudi Arabia and South Korea signed 52 memorandums of understanding for cooperation in various fields on the sidelines of the Saudi-Korean Investment Forum on Sunday.
The agreements included tourism, supply chains, real estate…
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GCC states, China to further cement economic, trade ties
In a bid to strengthen economic and trade ties, a recent ministerial meeting in Guangzhou paved the way for increased joint investment and collaboration between the Gulf countries and China.
In a final communique issued on Sunday, the…
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Saudi banks’ residential loans surge in August as apartments gain prominence
Saudi banks’ new residential mortgage lending recorded a 31.7 percent growth in August compared to July, according to the apex bank.
The Saudi Central Bank, also known as SAMA, recently revealed that mortgage lending to houses,…
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Saudi Arabia working with IMF to improve FDI statistics reporting
Saudi Arabia has worked with the International Monetary Fund to improve the quality and transparency of its foreign direct investment statistics to bring them into line with world’s best practice when they are published this year, the Saudi…
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Saudi economy set to grow 3.2% annually, driven by non-oil sector: Moody’s
Saudi Arabia’s economy is projected to expand at an average rate of 3.2 percent annually over the next three years, with significant growth expected in the non-oil sector, according to the global credit agency Moody’s.
The US-based firm…
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PIF eyes $3.5bn in debut sale of dollar-denominated sukuk
Saudi Arabia’s Public Investment Fund is set to raise $3.5 billion in its first sale of dollar-denominated Shariah-compliant sukuk, said an official statement issued on Thursday.
The wealth fund is offering the Islamic bonds with tenors…
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Saudi Arabia, Vietnam sign agreement to bolster economic and trade ties
Economic and trade relations between Saudi Arabia and Vietnam are set to strengthen thanks to a new agreement signed by the Federation of Saudi Chambers.
The agreement was formalized during the Saudi-Vietnamese Business Forum with over…
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Moody’s puts Israel’s credit ratings on review for downgrade
The US ratings agency Moody’s has put the Israeli government’s A1 credit ratings on review for downgrade, citing the “unexpected and violent conflict between Israel and Hamas.”
The severity of the conflict, sparked by the deadly attack…
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stc Group to expand 5G network in over 75 Saudi cities
Saudi Arabia will soon get even faster internet speeds and improved connectivity, with its largest telecom operator, stc Group, planning to launch the fifth-generation mobile network in over 75 cities.
According to the Saudi Press…
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ACWA Power signs seven agreements with Chinese entities
Saudi Arabia’s utility company ACWA Power has entered into seven cooperation agreements with various Chinese firms across multiple sectors, including solar energy, green hydrogen, and water desalination.
These deals were signed during…
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