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Saudi Arabia’s US Treasury bond holdings rise to $140.3bn in June
Saudi Arabia’s holdings of US Treasury bonds increased to $140.3 billion in June, reflecting a 26.73 percent year-on-year rise.
Data from the US Treasury Department showed the Kingdom maintained its position as the 17th largest holder of…
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Saudi insurance firm Al-Etihad receives A3 rating from Moody’s
Saudi-based Al-Etihad Cooperative Insurance Co. has been awarded an A3 financial strength rating by Moody’s, reflecting the firm’s strong market position in the Kingdom.
Moody’s attributed the A3 rating to Al-Etihad’s solid asset…
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SALIC to sell 40% stake in Saudi Fisheries for $32.62m
The Saudi Agricultural and Livestock Investment Co. has agreed to sell its 40 percent stake in Saudi Fisheries Co. to businessman Abdulaziz bin Abdullah Al-Humaid for SR122.4 million ($32.62 million).
The transaction involves the…
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Jordan’s industrial sector contributes 21.7% to GDP in Q1
Jordan’s industrial sector has made a significant contribution to the nation’s economy, accounting for 21.7 percent of the gross domestic product in the first quarter, data showed.
This achievement highlights the effectiveness of the…
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Oman’s trade with Americas grows 6.6% to $1.9bn in May
The trade volume between Oman and the Americas reached a substantial 742 million Omani rials, roughly equivalent to $1.9 billion in May.
This figure represents a notable increase of 6.6 percent from the same month a year earlier,…
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Red Sea signs deal with Italian firm to build staff camp for Tojena Dam project
The Trojena Dam project in NEOM is set to advance as Red Sea International Co.has secured a SR658 million ($175 million) contract with the Italian construction and civil engineering firm Webuild SpA.
This 12-month contract involves the…
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Saudi EXIM Bank credit facilities rise 128% in H1
The Saudi Export-Import Bank has announced a notable increase in its credit facilities for non-oil exports, with a 128 percent year-on-year rise to SR16.31 billion ($4.34 billion) in the first half of 2024.
This growth includes SR7.03…
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Saudi Arabia’s construction contracts soar to $32bn in Q1 2024: USSBC
Saudi Arabia saw a 79 percent increase in the value of construction contracts awarded during the first quarter of 2024, reaching SR118.8 billion ($31.65 billion), a new analysis showed.
The latest US-Saudi Business Council report reveals…
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Saudi insurance sector earnings surge 25% to $585m in H1 2024
Saudi Arabia’s insurance sector saw a 25 percent increase in earnings for the first half of 2024, reaching SR2.2 billion ($585 million) compared to the same period last year.
Data compiled by Arab News from Bloomberg revealed that Bupa…
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Lucid expands its footprint in Saudi Arabia with opening of Jeddah studio
Lucid Group, majority-owned by Saudi Arabia’s Public Investment Fund, has announced the opening of its second studio in the Kingdom, further expanding its presence.
This new studio in Jeddah follows the recent launch of Lucid’s Dubai…
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