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Saudi’s ACWA Power signs several MoUs with Japanese companies
Saudi Arabia’s ACWA Power signed memorandums of understanding with several Japanese companies on the sidelines of the Saudi-Japan Vision 2030 Business Forum that took place on May 21.
ACWA Power signed agreements with Sumitomo Mitsui…
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SME financing in Saudi Arabia surges 20.4% in Q4 of 2023
Financing provided to small and medium enterprises in Saudi Arabia surged by 20.4 percent year on year to $73.5 billion in the fourth quarter of 2023, official data showed.
In its latest quarterly report, the Kingdom’s Small and Medium…
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Fitch upgrades Saudi Electricity Co. to ‘A+’ citing strong govt support
Saudi Electricity Co. received an upgrade from Fitch Ratings, raising its long-term foreign and local currency issuer default rating to “A+” from “A,” citing government support.
In its latest report, the agency also upgraded the…
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DP World, Mawani launch $250m logistics park project at Jeddah Islamic Port
The Saudi logistics sector is poised for growth with DP World’s investment of SR900 million ($250 million) to build a distribution center at the Jeddah Islamic Port.
With this strategic move, the UAE multinational logistics company will…
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King Khalid International tops Saudi airport rankings with 82% compliance rate: GACA report
Saudi Arabia’s King Khalid International Airport emerges as one of the top three performing terminals in the Kingdom, according to official data.
The Riyadh-based aviation facility topped the category for international terminals with…
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Oman’s banking sector sees 2.9% rise in credit to $80bn by end of March
Oman’s banking sector experienced a 2.9 percent rise in total credit, reaching 30.8 billion Omani rials ($80 billion) by the end of March, official data showed.
In its monthly review of banking and monetary developments, the Central Bank…
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S&P reaffirms Bahrain’s credit rating amid fiscal challenges; outlook stable
Bahrain’s commitment to fiscal consolidation has witnessed S&P Global Ratings reaffirm its “B+/B” credit standing with a stable outlook despite challenges in 2023.
However, the agency added that the transfer and convertibility…
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From tennis to paper, PIF pushes ahead with its diverse investments strategy in 2024
Tennis, tech and paper production are just some of the areas Saudi Arabia’s Public Investment Fund has reached into so far in 2024, as the body continues to drive forward the Kingdom’s economic diversification agenda.
The sovereign…
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Saudi Arabia’s open banking strategy a game-changer
Saudi Arabia’s embracing of open banking has transformed the region’s financial ecosystem, according to a top fintech CEO.
In an interview, Abdulla Al-Moayed, head of Tarabut, praised the Kingdom’s central bank for its inclusive…
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Moody’s affirms Kingdom’s A1 credit rating with positive outlook
Moody’s, the global credit rating agency, has affirmed Saudi Arabia’s credit rating at ‘A1’ with positive outlook, reported the Saudi Press Agency on Saturday.
The rating affirmation is based on Moody’s assessment of the government’s…
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