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Point-of-sale spending in Saudi Arabia hits record $16bn, SAMA reveals
Food and beverages transactions helped drive point-of-sale payments in Saudi Arabia to a record SR59.68 billion ($15.91 billion) in March, official data has revealed.
Figures released by the Saudi Central Bank, also known as SAMA, show…
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Saudi-Jordanian mining, pharma ties to advance thanks to ministerial visit
Mining and pharmaceutical cooperation between Saudi Arabia and Jordan is poised to advance after a top official’s visit to the Hashemite Kingdom.
Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef met with the…
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Lebanon’s reforms insufficient for recovery, IMF says
Lebanon’s economic reforms are insufficient to help lift the country out of its economic crisis, the International Monetary Fund said on Thursday.
Ernesto Ramirez Rigo, the head of the IMF mission visiting Lebanon, said in a statement…
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Goldman Sachs to establish regional headquarters in Riyadh: report
Goldman Sachs Group is set to become the first Wall Street bank to establish its regional headquarters in Saudi Arabia as it has reportedly obtained a license from the Ministry of Investment, reported Bloomberg.
As per the recently…
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Saudi aviation sector surges with over $20bn in deals at Riyadh forum
Saudi Arabia’s aviation sector received a major boost with over 100 agreements, exceeding SR75 billion ($20 billion), signed during the first two days of the Future Aviation Forum.
The Riyadh event saw the signing of 102 memorandums of…
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Saudi Arabia rises 9 spots in WEF’s global tourism index
Saudi Arabia has climbed nine spots to rank 41 on a global tourism index – marking the Gulf region’s largest improvement – thanks to its strengthening infrastructure, corporate presence, and major business centers.
According to the World…
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Saudi point-of-sale spending hits $3.11bn: SAMA data
Saudi Arabia’s point-of-sales spending reached SR11.65 billion ($3.11 billion) in the third week of May, official figures showed.
The latest data from the Saudi Central Bank, also known as SAMA, revealed that spending on beverages and…
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Saudi Arabia, China explore private sector investment opportunities during Beijing meeting
Chinese participation in Saudi Arabia’s private-sector projects is set to increase as the Kingdom’s Finance Minister Mohammed Al-Jadaan held meetings with top officials in Beijing.
Al-Jadaan, who is also the chairman of the National…
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Saudi Monsha’at and Social Development Bank ink deal to boost SME financing
Saudi small and medium enterprises are set to receive a finance boost thanks to a new deal signed by the Kingdom’s Social Development Bank.
The cooperation agreement, inked with the country’s SME general authority, also known as…
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GCC banks’ net profit surge 10.5% to 14.4bn: Kamco Invest
Net profit of banks in the Gulf Cooperation Council region surged by 10.5 percent year-on-year in the first quarter of 2024 to $14.4 billion, an analysis showed.
In its latest report, Kamco Invest said that the bottom line performance of…
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