Business

Saudi Arabia’s sovereign wealth fund has secured a $15 billion revolving credit facility to support general corporate purposes, according to a statement. The Public Investment Fund said it was obtained from a diverse global syndicate of…
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Qatar’s foreign merchandise trade balance recorded a surplus of 20.1 billion Qatari riyals ($5.52 billion) in July, up 2.5 percent year-on-year, according to new figures. The foreign merchandise trade balance represents the difference…
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Saudi Arabia’s Cabinet has approved a memorandum of understanding with Iraq to enhance financial intelligence cooperation, focusing on anti-money laundering and counter-terrorism financing measures. The agreement, endorsed during the…
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More than 57 international firms received licenses to relocate their regional headquarters to Saudi Arabia during the second quarter of this year, representing an 84 percent year-on-year increase. In its quarterly report, the Kingdom’s…
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Oman’s trade exchange with European nations witnessed a notable rise by the end of May, reaching 878 million Omani rials ($2.28 billion). This marks a 9.5 percent increase from the 802 million rials recorded during the same period last…
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Saudi Arabia’s investment in cybersecurity products, solutions, and services surged to SR13.3 billion ($3.55 billion) in 2023, reflecting a robust 10.83 percent increase from the SR12 billion spent in 2022. Data released by the National…
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The UAE’s foreign trade reached 1.39 trillion dirhams ($379 billion) in the first half of 2024, marking an 11.2 percent increase year on year, according to the latest official data. The figures reveal a significant rise in non-oil…
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UAE-based banks attracted over 54 billion dirhams ($14.7 billion) in short-term deposits during the first five months of the year, marking an 8.9 percent increase from December 2023, official data showed. According to the latest data…
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Saudi Arabia’s hydrogen economy is poised for growth as one of the country's leading universities partners with NEOM to advance economic development and strengthen the Kingdom's position as a leader in sustainable energy. King Abdullah…
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Saudi Arabia has risen to 15th place in a global container handling ranking for 2024, reflecting its growing role as a logistics hub, according to a UK-based maritime journal. Lloyd’s List, which provides news, analysis, and insight on…
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