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Dubai’s high-end property sales undented by drop in listings, consultancy says
The number of homes worth $10 million or more that were sold in Dubai held steady in the first half of the year despite a drop in listings, an industry report showed on Monday, as demand from the international ultra-rich stayed strong,…
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Saudi-Canadian Business Council resumes after 5-year hiatus
RIYADH: The Federation of Saudi Chambers has announced it will resume its business council with Canada following a five-year hiatus, the Saudi Press Agency reported on Sunday.
Mohammed bin Nasser Al-Duleim has been appointed chairman of…
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SNB becomes the first Saudi bank to enter the Taiwanese Formosa Market
Saudi National Bank has successfully become the first financial institute in the Kingdom to access the Taiwanese Formosa market.
This achievement marks a pioneering move for SNB, underscoring its commitment to advancing Saudi Arabia’s…
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World economic growth resilient in June despite PMI dip: S&P Global
International economic growth showed resilience in June, maintaining the second-highest level observed in the past 13 months, according to S&P Global’s latest report based on the Purchasing Managers’ Index.
The JP Morgan global…
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Saudi Re boosts capital by $71m in PIF subscription deal
Saudi Reinsurance Co. plans to increase its capital by SR267.3 million ($71 million) through a strategic subscription agreement with the Public Investment Fund, aimed at enhancing its financial position.
The binding subscription…
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ASEAN economies in stable state against external shocks, QNB says
Capital flows and economic resilience have positioned the Association of Southeast Asian Nations financial markets in a relatively stable state, according to Qatar National Bank.
In its latest economic commentary, QNB highlighted the…
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Oman’s non-oil sector drives GDP to $27bn in Q1 2024
A rise in Oman’s non-oil activities boosted the country’s gross domestic product by 0.8 percent year-on-year to 10.45 billion Omani rials ($27.15 billion) in the first quarter of 2024.
Preliminary data from the National Centre for…
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Algeria and Italy sign $455 million agriculture deal
Algeria and Italy on Saturday signed a 420-million-euro deal ($455 million) for an agricultural project in the North African country, the Algerian agriculture ministry said in a statement.
The scheme, which Italian officials called their…
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Saudi banks’ aggregate profit hits 14-month high; mortgage lending up
Saudi banks aggregate profit reached a 14-month high of SR7.33 billion ($1.96 billion) in May, marking an annual 16 percent rise, newly released data has revealed.
According to the Saudi Central Bank, also known as SAMA, these figures…
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Middle East airlines see 9.7% passenger demand growth: IATA
Middle Eastern airlines saw a 9.7 percent annual growth in passenger demand in May fueled by an increase in Asia-related travel, according to an industry body.
In its latest report, the International Air Transport Association said that…
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