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Strong lending growth in GCC banking despite higher interest rates: Kamco
Despite the high interest rates that followed the US Federal Reserve’s recent quantitative tightening, the banking sector within the Gulf Cooperation Council exhibited continuous lending growth during the second quarter of 2023, as per…
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Thai companies eye investment opportunities in Saudi market
The Thai Trade Exhibition Saudi Arabia 2023 began on Sunday in Riyadh aimed at boosting commercial ties between the two countries and offering a platform for members of their respective business communities to explore opportunities.
Thai…
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Oil set for 2nd weekly fall on firm dollar as supply worries ebb
Oil was headed for a second week of declines even as it rose on Friday, as the dollar firmed before a speech by Federal Reserve Chair Jerome Powell while concerns over tight supply eased.
Brent crude rose 39 cents, or 0.5 percent, to…
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Saudi delegation explores industry cooperation with German firms
A high-level delegation from Saudi Arabia’s Ministry of Industry and Mineral Resources embarked on a mission to bolster cross-border collaboration with Germany, focusing on human capacity development in the industrial and mining sectors.…
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Lebanon’s central bank will not print money to lend state, cover deficit – acting governor
Lebanon’s central bank will not print money to lend the state or cover the crisis-hit economy’s projected deficit, acting central bank governor Wassim Mansouri said on Friday, calling on leaders to undertake urgent financial reforms.…
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Brazil, Argentina celebrate new Arab members of BRICS
News of the expansion of the BRICS group to include six new members — among them three Arab nations and Argentina — has been received with delight by Argentinians and Brazilians, especially members of institutions that incentivize trade…
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Red Sea Global finalizes contractor for AMAALA’s spas and swimming pools
Saudi Arabia’s multi-project developer Red Sea Global has selected Abdullah bin Taleb Swimming Pools Co. to construct pools, spas and other water feature works at Triple Bay in AMAALA.
According to a press release, these water features…
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BRICS set to invite Saudi Arabia to join — Bloomberg News
Major emerging market nations are preparing to invite Saudi Arabia to join BRICS, Bloomberg News reported on Thursday, citing people familiar with the talks.
Leaders from Brazil, Russia, India, China and South Africa (BRICS) have agreed…
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Saudi Arabia’s NDMC closes August sukuk issuance at $930m
Saudi Arabia’s National Debt Management Center has concluded its riyal-denominated sukuk program issuance for August, with a bid amount totaling SR3.50 billion ($930 million), marking a 33.07 percent increase compared to July 2023.
The…
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Saudi Arabia tops Dubai Chamber of Commerce’s export destinations in H1
Saudi Arabia emerged as the top global export destination for Dubai Chamber of Commerce members during the first half of 2023, as revealed by official data from the UAE.
The value of exports surged over 15 percent year over year to 35…
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