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GCC countries to lead Mideast energy transition
Saudi Arabia, the UAE, and Oman are set to lead the Middle East’s solar transition thanks to several key factors, according to a new report.
In its latest analysis, Norwegian business intelligence and research company Rystad Energy…
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Aramco says to offer shares worth over $10 billion on Saudi bourse
Saudi Aramco said it plans to sell 1.545 billion shares worth more than $10 billion on Thursday.
In a statement, Aramco announced a “secondary public offering of 1.545 billion shares,” with an expected price range between SR 26.70 and 29…
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Saudi banks’ risk profiles stronger than GCC counterparts: Fitch
Saudi banks exceed their Gulf Cooperation Council counterparts in terms of risk profiles underpinning their asset quality, according to Fitch Ratings.
The credit rating agency said in a statement that there is a strong correlation…
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Riyadh residential market sales surge 77%: CBRE report
Saudi Arabia’s residential market experienced robust growth in demand, with Riyadh witnessing a 77 percent year-on-year increase in sales transactions in the first quarter, a new report showed.
According to global consultancy firm CBRE,…
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Aramco sets butane, propane prices for June
Saudi Aramco maintained propane contract prices for June month on month at $580 per tonne while price for butane was set at $565 a tonne.
Propane and butane are types of liquefied petroleum gas with different boiling points.
LPG is…
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PIF crowned world’s most valuable wealth fund brand
Saudi Arabia’s Public Investment Fund has been named the world’s most valuable sovereign wealth with a brand value of $1.1 billion, according to an analysis.
In its latest report, UK-based strategic consultancy Brand Finance revealed…
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Saudi banks witness 11% surge in loans to $716bn, fueled by corporate activities
Saudi banking sector’s loans increased to SR2.68 trillion ($715.56 billion) in April, marking an 11 percent increase compared to the same month in 2023, official data showed.
Figures released by the Saudi Central Bank, also known as…
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PIF’s Alat, Lenovo forge $2bn partnership to establish manufacturing hub in Saudi Arabia
Saudi Arabia’s pursuit of a sustainable manufacturing hub gains momentum as Alat partners with Lenovo Group to establish a facility and invest $2 billion through zero-coupon convertible bonds.
As part of the agreement, the Chinese firm…
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Saudi economy shines amid low inflation rates and Vision 2030 success: official report
The Saudi economy has demonstrated resilience, marked by sustained growth in non-oil sectors and a globally low annual inflation rate of 1.6 percent, as per an official report.
This was highlighted during the latest meeting of the…
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Lucid, EVIQ sign MoU to set up high-speed public charging infrastructure in Saudi Arabia
Saudi Arabia is set to activate high-speed public charging infrastructure to support the adoption of electric vehicles, thanks to a new agreement.
The memorandum of understanding between the electric car specialists Lucid and Electric…
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