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Saudi banks lead GCC in credit quality with NPL ratio improving to 1.4%
Saudi banks showcased a notable improvement in credit quality in the first three months of the year as the non-performing loan ratio decreased to 1.4 percent, according to data from the Saudi Central Bank.
The bank, known as SAMA,…
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SNB Capital among banks set to lead IPO of Nupco
Saudi Arabia's Public Investment Fund has appointed SNB Capital as one of the banks leading on a planned initial public offering of the Kingdom's largest medical procurement firm.
A spokesperson for SNB Capital verified its involvement…
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Egypt to invest $1.2bn in drilling 110 exploratory wells in 2024/2025
Egypt is planning to drill 110 exploratory wells with a $1.2 billion investment in the fiscal year 2024/2025 to enhance the country’s oil and gas production capabilities, according to a top official.
In a meeting with a parliamentary…
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Diriyah Club ownership transferred to PIF-backed firm, boosting Saudi sports sector
Saudi Arabia’s sports sector is set for a major boost as ownership of Diriyah Sports Club transfers from the Ministry of Sport to Diriyah Co., a firm owned by the Public Investment Fund.
Crown Prince Mohammed bin Salman, serving as…
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Oman sees hotel revenue rise 10.2% thanks to European-led tourist surge
European travelers to Oman helped fuel a 10.2 percent rise in hotel revenue in the first five months of 2024, official data has revealed.
Figures from the National Centre for Statistics and Information show that three to five-star…
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Saudi Arabia to bolster food security with 5 new investment projects in Al-Baha region
Saudi Arabia’s food security is set to strengthen with five new investments in the agriculture sector of the Al-Baha region, aimed at achieving self-sufficiency under Vision 2030.
The Ministry of Environment, Water, and Agriculture…
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Saudi Arabia and Thailand strengthen economic ties with new investment office in Riyadh
Saudi Arabia is set to enhance private sector cooperation with Thailand as the Southeast Asian nation opens its first Board of Investment office in Riyadh, a top official announced.
On the sidelines of a business forum in the Saudi…
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NWC initiates $150m in projects to enhance water services in Qassim region
Saudi Arabia’s Qassim region is set to see improvements in water services, with the National Water Co. initiating 14 projects valued at over SR561 million ($150 million).
The state-owned firm announced that its Northern Cluster has…
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Iraq seeks Egyptian and Saudi investment for developing new cities
Iraq has unveiled plans to attract Egyptian and Saudi investment for five new cities in Baghdad and other governorates, as part of efforts to address the housing shortage.
Iraqi Prime Minister Mohammed Shia Al-Sudani presented these…
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Oman’s Islamic banks report 13.2% asset growth to $19.5bn
Islamic banks in Oman reported total assets of about 7.5 billion Omani riyals ($19.5 billion) by the end of April, a 13.2 percent increase from the previous year.
According to official data, this represents 17.7 percent of the country’s…
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