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Business registrations see 78% annual growth as Saudi private sector booms
More than 120,000 commercial registrations were issued by the Saudi Ministry of Commerce in the second quarter of 2024, marking a 78 percent year-on-year increase.
According to data from the ministry, a total of 121,521 official…
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Saudi private sector workforce surges above 11.4m – official figures
Private sector employment in Saudi Arabia reached 11.4 million by the end of June, marking a 1.24 percent increase from April.
The National Labor Observatory has released a detailed report on the state of the Kingdom’s labor market,…
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Egypt shows signs of business growth as PMI hits 49.9 in June
Non-oil companies in Egypt saw sales growth for the first time in nearly three years, as the Purchasing Managers’ Index rose to 49.9 in June from 49.6 in May.
According to S&P Global, this rise in the index, just fractionally below…
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PIF’s SAMI inks 3 deals with Turkish defense firms to propel aviation, space and technology sectors
Saudi Arabian Military Industries inked three agreements with Turkish firms to localize defense businesses in the Kingdom’s aviation, space and technology fields.
The Public Investment Fund-owned group signed the memorandum of…
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Abu Dhabi airports report 40% surge in travelers
Abu Dhabi’s airports saw around 22.4 million travelers in 2023, a 40 percent increase from the previous year, driven largely by passengers from the Indian subcontinent, official data showed.
In a report by the Statistics Centre - Abu…
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Saudi Arabia’s non-oil private sector PMI at 55, leading the Gulf region – S&P Global
Saudi Arabia’s non-oil private sector showcased robust growth in June, driven by increased demand, higher output levels, and a rise in employment, according to a report.
The latest S&P Global Purchasing Managers’ Index showed that…
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Saudi current account surplus expands to $7.6bn
Saudi Arabia’s first-quarter current account surplus widened to SR28.6 billion ($7.6 billion), up 75.46 percent from the previous quarter, driven by strong services exports, an analysis showed.
According to S&P Global Market…
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Abu Dhabi to expand office space as occupancy rates surpass 95% due to hedge funds
Hedge funds flocking to Abu Dhabi have pushed office occupancy rates over 95 percent, prompting a call for an increase in business-centric real estate.
Up from 91.3 percent in the first quarter, tenancy levels at the four towers in Abu…
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Saudi exporters receive over 31k certificates of origin in June in sign of robust sector
More than 30,000 certificates of origin were issued to Saudi manufacturers for the 14th consecutive month in June, highlighting the robustness of the Kingdom’s export sector.
The Ministry of Industry and Mineral Resources granted 31,887…
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‘Powerful’ Saudi energy sector can buck volatility trend, forum told
Business leaders hailed Saudi Arabia’s investment environment and prospects for economic growth at an event at the London Stock Exchange on Wednesday.
The BMG Economic Forum is held annually to discuss business developments in the…
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