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GCC banks hold interest rates steady for 7th consecutive period following US Fed’s move
Gulf Cooperation Council central banks have held interest rates steady for the seventh consecutive period, aligning with the US Federal Reserve’s benchmark rate of 5.25 to 5.50 percent.
Since most regional currencies are pegged to the US…
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Modernizing energy systems requires workers with strong digital skills: IEA
The pace of deploying digital technologies in the energy sector will depend heavily on the ability to build a workforce with the right skills, according to an analysis.
In its latest report, the International Energy Agency said that…
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Flyadeal receives first fully-owned aircraft in landmark moment
Saudi Arabia’s low-cost airline flyadeal has taken delivery of its first-ever wholly-owned aircraft in a “milestone” moment, according to the CEO.
The airline received the Airbus A320neo, named Al Sama after an Arabic constellation star…
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Saudi Arabia leads global desalinated water production surge
Saudi Arabia has achieved remarkable global leadership in doubling its desalinated water production, signaling its unwavering commitment to meeting daily water demands, stated Abdulrahman Al-Fadley, Saudi minister of environment, water, and…
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Global oil demand set to slow amid progressing energy transition: IEA
Global oil demand growth is expected to slow in the coming years as the world continues its energy transition journey, according to a new analysis.
In its latest report, the International Energy Agency said that the world will witness an…
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Saudi EXIM forges key international partnerships during Greek visit
Saudi EXIM Bank and its Swedish counterpart have signed an agreement to enhance the Kingdom’s non-oil exports and explore trade and investment opportunities.
In an X post following the deal, the Saudi lender stated that the memorandum of…
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Global growth to stabilize at 2.6% in 2024: World Bank
Global growth is expected to stabilize at 2.6 percent in 2024, holding steady for the first time in three years, according to a new World Bank report.
The analysis warns that safeguarding trade, supporting green and digital transitions,…
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Oil Updates – crude climbs on optimistic demand outlook
Oil prices ticked higher on Wednesday amid upbeat global demand views from the US Energy Information Administration and OPEC, reinforced by industry data showing US crude oil inventories fell more than expected last week, according to…
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Closing Bell: Saudi main index continues it downward movement
Saudi Arabia’s Tadawul All Share Index continued its downward trend for the third consecutive day as it shed 123.66 points to close at 11,651.81 on Wednesday.
The total trading turnover of the benchmark index was SR10.38 billion ($2.77…
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Saudi Arabia keen to invest in multiple sectors in Brazil: PIF governor
Saudi Arabia’s sovereign wealth fund is keen to invest in Brazil across multiple sectors such as technology, renewables, and mining, said a top official.
Speaking at the inaugural ceremony of the Future Investment Initiative Priority…
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