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Smart grid technologies crucial for global energy transition: IEA
Advanced smart grid technologies are pivotal for enhancing energy transition and system reliability, with projections indicating a need to double investments to $600 billion annually by 2030.
In its latest report, the International…
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Enhanced cooperation unfolds in 4th Arab-African Trade program
Enhanced cooperation between Arab and African countries is set to flourish after officials met for the fourth meeting of the Board of Governors of the Arab-African Trade Bridges Program and the Tunisian-African Business meetings in Tunis.…
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Tourists’ spending in Saudi Arabia up 23% to $12bn
Tourism spending in Saudi Arabia saw an annual increase of 23 percent in the first three months of the year, hitting SR45 billion ($12 billion), according to new figures.
Data released by the Saudi Central Bank showed that the balance of…
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Saudi SME Bank drives economic growth with $267m disbursed since inception
Saudi Arabia’s Small and Medium Enterprise Bank disbursed SR1 billion ($267 million) between its launch in December 2022 and January this year, latest figures show.
Official data from the Kingdom’s National Development Fund highlights…
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Middle East carriers witness 15.3% air cargo demand growth in May: IATA
Middle Eastern airlines witnessed a 15.3 percent year-on-year demand growth for cargo in May, driven by growing e-commerce and maritime issues, an analysis showed.
In its latest report, the International Air Transport Association said…
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Saudi Arabia to turn 3m tonnes of waste into fuel annually with new management project
Saudi Arabia is set to process approximately 3 million tonnes of municipal solid waste annually to produce refuse-derived fuels in six governorates following a new agreement.
The new plastic waste management project, a collaboration…
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Egypt’s tourism revenues rise 4.7% in 2024
Egypt’s tourism revenues surged 4.7 percent year on year during the first half of 2024 to reach $6.6 billion, according to a new report.
Issued by the African country’s Ministry of Tourism, the data indicates a 17.8 percent rise compared…
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Dubai sees record residential transactions after 20% surge: report
Dubai’s residential market activity hit record highs in the second quarter with 35,310 transactions, a 20.5 percent year-on-year increase, driven by customizable units and stable investment returns, a new report showed.
According to a…
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Saudi Local Content Coordination Council achieves 47% domestic content rate – latest figures
Saudi companies that are members of the Local Content Coordination Council sourced 47.22 percent of their purchases domestically in 2022, latest data showed.
A statement released by the Local Content and Government Procurement Authority…
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PIF’s revenue soars 100% to $88.3bn, latest figures show
Saudi Arabia’s sovereign wealth fund has reported strong financial results for 2023, achieving revenues of SR331 billion ($88.3 billion) from its diverse investment portfolio, marking over 100% percent growth from 2022.
Demonstrating…
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