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Oil prices dip amid China demand concerns and US crude stock drop
Oil prices were marginally lower on Wednesday amid concerns over waning demand in China, the world’s largest crude importer, and a fall in US crude stocks.
Brent, the benchmark for two thirds of the world’s oil, was trading 0.50 per cent…
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UAE’s third auction of Islamic treasury bonds in 2023 oversubscribed 5.5 times
The third auction of the UAE's dirham-denominated treasury sukuk for the year was oversubscribed by 5.5 times, receiving bids worth Dh6 billion ($1.63 billion), the Ministry of Finance said on Wednesday.
The move comes as part of the…
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Oman’s Islamic banking sector records $18.25bn in assets
Oman’s Islamic banking sector witnessed a 12.6 percent year-on-year surge in total assets reaching 7 billion Omani rials ($18.25 billion), data issued by the country’s central bank showed.
This figure accounts for approximately 17.2…
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Saudi Arabia partners with Egypt and Turkiye on digital economy
In a bid to promote collaborative ties in the digital economy, Saudi Arabia’s minister of communications and information technology held talks with counterparts from Egypt and Turkiye on the sidelines of the G20 ministerial meeting in…
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Brazilian exports to Saudi Arabia hit $1.87bn, the highest among Arab countries
Brazilian exports to Saudi Arabia recorded robust growth in the first seven months of the year to reach $1.87 billion, the highest amongst all Arab countries, Emirates News Agency reported citing data from the Arab-Brazilian Chamber of…
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Saudi Arabia’s $2.6 billion mining deal reshapes global decarbonization landscape
At the end of July, a $2.6 billion deal with Brazil’s biggest miner, Vale SA, gave Saudi Arabia a 10 percent interest in mines from Canada to Indonesia that produce copper, nickel and other industrial metals — all critical materials needed…
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Saudi Arabia, China ink $1.33bn worth of cooperation deals
Riyadh and Beijing have inked a dozen cooperation agreements worth over $1.33 billion on the sidelines of the Saudi-Chinese Business Forum, bolstering collaboration in key sectors such as infrastructure, financing and housing.
The…
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Qatar’s consumer price index edges up in July
Qatar’s consumer price index experienced a modest uptick in July, with the index reaching 106.8 points, marking a 0.37 percent rise compared to the previous month, the latest data from the Planning and Statistics Authority showed.
In…
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Saudi ports’ container volumes rise by 19% in July: Mawani
Saudi Arabia’s ports witnessed an annual growth of 18.8 percent growth in cargo operations in July 2023 as they registered 753,469 containers, the body responsible for the facilities has revealed.
According to the Saudi Ports Authority,…
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Saudi Ceer, Siemens partner to propel EV manufacturing
Engineering operations involved in the design of electric vehicles in Saudi Arabia will receive a boost thanks to a specialized software that will collect, analyze and visualize data.
Ceer, the Kingdom’s first EV brand, has announced a…
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