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Kuwait records budget surplus for first time in 9 years
Strong oil revenues helped Kuwait record its first budget surplus in nine years in 2022-2023, the Ministry of Finance has announced.
The country posted an excess of 6.4 billion Kuwaiti dinars ($20.86 billion) at end of its financial year…
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Saudi Arabia’s imports touch $18bn in May: GASTAT
Saudi Arabia’s merchandise imports increased 20.9 percent in May 2023 to SR67.7 billion ($18.05 billion), compared to the same month a year ago when imports amounted to SR56 billion, according to official data.
The data released by the…
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Saudia records 52% jump in international flyers as Kingdom aims to become global transit hub
Saudi Arabia’s push to become a global transit hub has seen Saudia clocking 52 percent growth in international passengers, with 7.4 million guests transported during the first half of 2023.
The airline operated 37,600 flights during the…
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E-commerce registrations in Saudi Arabia surge 21% in Q2
As more and more Saudis are turning to online buying, the Kingdom is seeing unprecedented growth in e-commerce businesses, with the total number of registered firms in the country touching 35,314 in the second quarter of 2023.
This is a…
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Japan and Saudi Arabia seek common ground on mining sector development
Saudi Arabia and Japan are strengthening their long-standing bilateral trade relations in the energy sector as both countries pursue common goals towards decarbonization and economic diversification.
While the allied nations are moving…
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PIF signs MoU with Japanese power major JERA to develop green hydrogen projects
Aimed at making Saudi Arabia a regional hub for clean energy, the Kingdom’s Public Investment Fund has signed a memorandum of understanding with the Japanese power generation company JERA Co. Inc. to develop green hydrogen projects and…
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Egypt aims to resume gas exports by October, minister says
Egypt is targeting a resumption of liquefied natural gas exports by October at the start of autumn, petroleum minister Tarek El Molla told reporters on Wednesday.
Most of Egypt’s production is consumed domestically in the summer when…
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SALIC acquires 10.7% of Brazilian poultry giant BRF
The Kingdom is all set to make a mark in the global food industry space with Saudi Agricultural and Livestock Investment Co., or SALIC, acquiring 180 million shares of BRF, Brazil’s largest poultry producer.
According to the Saudi Press…
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Saudi-Turkish Business Forum sees agreements signed, investments discussed
More than 400 business leaders and officials attended a special meeting of the Saudi-Turkish Business Forum in Jeddah in a further boost to economic ties between the two countries.
Amid discussions around further investment…
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ACWA Power signs land agreement for giant Egyptian wind farm project
A giant wind farm set to provide power to 11 million Egyptian households is a step closer to being built after Saudi firm ACWA Power signed a deal related to the land for the project.
The Memorandum of Understanding, signed by the…
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