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Business
Corporate activities drive 11% loans surge from Saudi banks, SAMA data shows
Loans by Saudi Arabia’s banking sector increased to SR2.72 trillion ($726.44 billion) in May, marking an annual 11.14 percent rise, official data showed.
Data released by the Saudi Central Bank, also known as SAMA, showed that corporate…
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Global carbon credit market set to reach $100bn by 2035: Oliver Wyman
The global market for carbon removal credits could reach $100 billion annually between 2030 and 2035, up from just $2.7 billion last year, driven by increasing interest from corporate purchasers, an analysis showed.
According to the…
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ACWA Power secures $373m financing for Tashkent’s Riverside Power Plant
Saudi energy giant ACWA Power Co. has signed financing deals worth SR1.4 billion ($373.1 million) for Tashkent’s Riverside power plant in Uzbekistan, according to a statement on Tadawul.
The facility aims to generate 200 megawatts of…
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Saudi Top for Trading Co. agrees to buy 1k carbon credits from PIF-backed firm
Plastic and wax specialists Saudi Top Plastics has signed an agreement with a Public Investment Fund-backed firm to purchase 1,000 carbon credits.
The memorandum of understanding, signed by the plastics trading name Saudi Top for Trading…
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Arab oil dominates Japan’s crude supply in May
The Arab share of Japan’s oil imports for May, as reported by the Agency for Natural Resources and Energy, amounted to 62.44 million barrels — 95.3 percent of all the oil Japan imported that month. Imports during the month from the UAE,…
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Jordan Investment Ministry receives Singaporean business delegation
The Jordanian Ministry of Investment on Sunday hosted a meeting between Singaporean business leaders and representatives from Jordan’s government and private sector.
The meeting followed Crown Prince Hussein bin Abdullah’s visit to…
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Saudi Aramco finalizes deal for phase 2 of Jafurah gas field scheme
Saudi Aramco has finalized agreements for the second phase of its Jafurah gas field development and the third stage of the expansion of its master gas system, awarding contracts exceeding $25 billion.
The company has granted 16…
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Saudi Arabia sees 5.6% rise in FDI in Q1 2024
Saudi Arabia saw a 5.6 percent increase in net flow of foreign direct investment in the first quarter of 2024 compared to the previous year, the official data showed.
According to the latest figures from the General Authority for…
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Egypt inks $33bn green ammonia deals with European developers amidst economic drive
Egypt’s sovereign fund has signed four agreements worth $33 billion in the field of green ammonia with European developers, a cabinet statement said on Sunday.
Prime Minister Mostafa Madbouly observed the signing of these agreements…
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IsDB approves $369m for development projects in Turkiye, Turkmenistan, and Suriname
New development projects in Turkiye, Turkmenistan and Suriname will receive a significant boost with a $368.98 million financing package sanctioned by the Islamic Development Bank.
The financing includes $165 million to enhance…
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