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Fintech Fortis targets Saudi Arabia’s SME sector
Fintech companies continue to expand in Saudi Arabia, with the nation increasingly becoming a magnet for financial technology.
UAE-based Fortis is bringing its one-stop point of sale, customer relationship management, order management…
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Saudi Arabia point of sale spending reaches $14 billion in April
Saudi Arabia’s point of sales spending reached around SR53 billion ($14 billion) in April, registering a 3 percent rise compared to the same month last year, latest data revealed.
Figures from the Saudi Central Bank, also known as SAMA,…
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Saudi Arabia prices Aramco stock at $7.27 in $11.2bn share sale
Saudi Arabia is set to raise over $11.2 billion by selling shares in oil giant Aramco to fund its spending plans, after pricing its stock at SR27.25 ($7.27), the company announced.
In a press release, Aramco said that the secondary…
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Energy investment in Middle East to hit $175bn in 2024: IEA report
Energy investment in the Middle East is projected to reach approximately $175 billion in 2024, with clean resources accounting for around 15 percent of the total, a new report disclosed.
The International Energy Agency’s analysis…
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Saudi banks’ real estate loan portfolios hit $213.5bn in Q1 2024
Saudi banks’ real estate loan portfolios reached SR800.5 billion ($213.5 billion) in the first quarter of 2024, a 13 percent increase from the same period last year, the latest official data showed.
Figures released by the Saudi Central…
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Sinopec unit signs $1.1bn deal to build gas pipelines for Aramco
A Sinopec service unit said on Thursday it has signed a 7.956 billion yuan ($1.10 billion) deal to build natural gas pipelines for Saudi Aramco.
The contract is for Sinopec Oilfield Service Co. to procure and construct the third-phase of…
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Saudi Arabia seeks mining partnerships with Morocco, eyes industry transformation
Saudi Arabia seeks to leverage Morocco’s mining expertise, as both countries hold significant reserves and produce over 40 percent of the world’s phosphate fertilizer, said a top minister.
The Kingdom’s Minister of Industry and Mineral…
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Saudi Aramco cuts Arab light crude price to Asia for July
Saudi Aramco has slashed July’s official selling price for the flagship Arab Light crude it sells to Asia, according to an official statement.
Differentials for the flagship Arab Light grade were priced at Platts Dubai/DME Oman +$2.40…
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Oil and gas industry needs $4.3tn in investments by 2030: IEF
The oil and gas industry will need cumulative investments worth $4.3 trillion from 2025 to 2030 to meet growing demand and maintain market stability, according to an analysis.
In its latest report, the International Energy Forum said…
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Direct flights between Hong Kong and Riyadh announced
Direct flights between Hong Kong and Saudi Arabia are scheduled to begin in October this year.
The move comes after the Air Connectivity Program signed a cooperation agreement with Cathay Pacific Airways, Saudi Press Agency reported.…
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