Browsing Category
Business
Yemen central bank injects old riyal bills worth billions into market to challenge Houthi ban
The Central Bank of Yemen in Aden has injected billions of riyals in old large-sized 1,000 banknotes into the market to address a chronic shortage of cash.
The bank also implemented several other economic measures to control the chaotic…
Read More...
Read More...
Saudis seek European partners to expand space program
Saudi officials in charge of developing the country’s space program are now traveling around Europe seeking partnerships with leading companies in a sign that the Kingdom is putting the program up on its agenda.
The chairman of the board…
Read More...
Read More...
Saudi Arabia’s net foreign assets rebound from 10-year low on higher oil sales
Saudi Arabia’s net foreign assets rose 2 percent in June, recovering slightly from their lowest level in more than a decade as the Kingdom’s proceeds from sales of crude oil increased with the global oil industry gradually recovering from…
Read More...
Read More...
Kuwait plans region’s first city for electric carmakers
Kuwait Ports Authority (KPA) has approved a proposal to build the Middle East’s first city to serve electric vehicle manufacturers, the authority said in a statement on Sunday.
The statement does not make clear where the project, called…
Read More...
Read More...
Saudi Arabia is storming the “space economy”… What are the investment…
In the midst of its quest to boost non-oil revenues, and break into new economic fields within Vision 2030, the Kingdom of Saudi Arabia is seeking to strengthen its presence in the global space economy market.
The Kingdom reviewed the…
Read More...
Read More...
Brent crude back above $75 on US inventory draw, positive Fed outlook
Oil gained for a second day on Thursday as traders remained buoyed by yesterday’s data showing a bigger-than-expected drop in US inventories, while the Federal Reserve painted an optimistic picture of the American economy.
Brent crude…
Read More...
Read More...
Cruise Saudi, MSC Group sign new five-year agreement at Jeddah port
Geneva-headquartered MSC Cruises announced on Thursday it had signed a five-year agreement with Cruise Saudi for preferential berthing rights at the port of Jeddah.
The announcement was made aboard the company’s liner MSC Bellissima at a…
Read More...
Read More...
MasterCard launches support for cryptocurrency startups
Bitcoin traded higher on Wednesday, rising by 3.95 percent to $39,808.10 at 4:21 p.m. Riyadh time. Ether, the world’s second most-traded cryptocurrency, was down 0.29 percent to $2,291.10, according to data from CoinDesk.
XRP, a…
Read More...
Read More...
Amazon denies plans to accept bitcoin payments
Bitcoin traded higher on Tuesday, rising 0.55 percent to $38,379.02 at 5:02 p.m. Riyadh time. Ether, the second most traded cryptocurrency, was down 1.3 percent to $2,298.85, according to data from CoinDesk.
Below is the latest…
Read More...
Read More...
Lucid is ‘key step’ in PIF’s strategy after market debut
Saudi Arabia’s Public Investment Fund (PIF) has already made billions of dollars in profit on its investment in Lucid Motors, the California upmarket electric vehicle (EV) manufacturer, and could earn many billions more over the next five…
Read More...
Read More...