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Saudi seaports see 8% increase in cargo handling
Saudi seaports witnessed an annual 8.09 percent increase in the volume of cargo handled during May, reaching over 27.63 million tonnes.
Official data released by the Saudi Ports Authority, known as Mawani, revealed that this growth,…
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Saudi Aramco tops Forbes 100 Mideast ranking
Energy giant Saudi Aramco has retained the top spot in Forbes Middle East’s Top 100 listed companies for 2024, with $660.8 billion in assets and $1.9 trillion in market value.
The firm was followed by Saudi National Bank, the largest…
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Saudi finance companies see 13% asset surge amid favorable economic climate
Saudi Arabia’s finance companies witnessed a 13 percent year-on-year surge in total assets to SR64.2 billion ($17.12 billion) in 2023, newly released data from the Kingdom’s central bank has revealed.
The figures show that amid increased…
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Egypt’s inflation decreases to 28.1% in May: CAPMAS
Egypt’s annual urban consumer price inflation decreased to 28.1 percent in May from 32.5 percent in April, slowing even faster than analysts had expected, data from the statistics agency CAPMAS showed on Monday.
A poll of 19 analysts had…
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Aramco shares close higher post-secondary offering; international investors secure stake
Saudi Aramco’s shares rose by 1.06 percent on June 9, closing at SR28.60 ($7.63) after opening at SR27.95, marking the first trading day following a secondary share offering expected to raise around $11.2 billion.
The final price for the…
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Saudi Arabia’s entertainment scene set to make a splash with aquaparks
Saudi Arabia is gearing up to introduce a host of new entertainment and aquatic parks as the Ministry of Investment partners with Nowaar Entertainment, with the first park slated to open its doors in Riyadh in 2025.
In collaboration with…
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Saudi Arabia leads global construction activity with $1.5tn pipeline: JLL report
Saudi Arabia led global construction activity in the first quarter, with a $1.5 trillion pipeline of unawarded projects, according to data analyzed by JLL.
The latest report by the real estate services company reveals that the Kingdom…
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Kuwait receives ‘A+’ rating, despite oil dependency: S&P report
A strong stock of government financial assets has cemented Kuwait’s standing as it secures an ‘A+’ rating from Standard & Poor.
In its latest report, the global rating agency affirmed Kuwait’s sovereign rating with a stable outlook,…
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ITFC channels $3.8bn into member countries’ energy sectors in 2023
The International Islamic Trade Finance Corp., an autonomous entity within the Islamic Development Bank Group, dedicated $3.8 billion in 2023 to bolster member countries’ energy sectors.
In its 2023 annual report, the ITFC disclosed that…
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Qatar Central Bank’s foreign reserves surge by 3.96% in May
The foreign currency reserves and liquidity of the Qatar Central Bank soared by 3.96 percent year-on-year, reaching 249.165 billion riyals ($68.4 billion) in May 2024, compared to 239.664 billion riyals in the same period last year.
Data…
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