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Saudi Arabia, Singapore strengthen economic ties with 7 MoUs
Saudi Arabia and Singapore have signed seven memorandums of understanding to facilitate investment opportunities across various sectors, the Saudi Press Agency reported.
The MoUs were inked during the third session of the Saudi-Singapore…
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Egypt sells region’s first yuan-denominated ‘panda bonds’ in $479m issue
Egypt has become the first country in the Middle East and North Africa region to introduce so-called panda bonds in the Chinese financial market, valued at 3.5 billion yuan ($479 million).
In a statement, the country’s Minister of…
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Agreement signed to enhance trade between Organization of Islamic Cooperation and Africa
An agreement has been reached with the aim of boosting economic activities between member states of the Organization of Islamic Cooperation and those of the Eastern and Southern African Trade and Development Bank.
This TDB and the…
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Riyadh Airport tops Kingdom’s aviation hub ranking
King Khalid International Airport outperformed other international aviation hubs in Saudi Arabia for overall performance in September, according to official data.
According to the General Authority of Civil Aviation, Riyadh’s KKIA…
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GCC states achieve 7.3% GDP growth led by non-oil sector expansion
Member states of the Gulf Cooperation Council have recorded a 7.3 percent growth in their gross domestic product for 2022 and a 4.8 percent increase in the non-oil sector, a senior administrator revealed.
GCC Secretary-General Jassim…
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Oman credit balance sees a 6.8% uptick in August
Oman’s banking sector saw a 6.8 percent year-on-year increase in outstanding credit balances, reaching 30.4 billion Omani rials ($79 billion) by the end of August.
Within the same timeframe, the private sector in the country saw a 7…
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Saudi crown prince launches plan for new Abha International Airport
Saudi Arabia’s Crown Prince Mohammed bin Salman announced the launch of a master plan for the Kingdom’s new Abha International Airport on Thursday.
The new Abha airport aims to embody a consistent architectural identity in line with the…
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Saudi ports’ container volumes rise by 11.6% in September
Saudi Arabia’s ports witnessed an annual growth of 11.6 percent to 732,293 cargo-handling containers in September, according to a government agency.
The Saudi Ports Authority, also known as Mawani, stated in its latest report that the…
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OPEC sticks to 2024 oil demand growth forecast
The The Organization of the Petroleum Exporting Countries on Thursday stuck to its forecast for relatively strong growth in global oil demand in 2023 in 2024, citing signs of a resilient world economy so far this year and expected further…
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ACWA Power achieves financial closure of $14bn in last 12 months
Having initiated projects in the renewables, green hydrogen and water desalination sectors, Saudi Arabia’s ACWA Power has announced a financial closure of $14 billion in the past year, the largest in the company’s history.
The listed…
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