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Saudi banks’ funding profile changing on rising mortgage demand: S&P Global
Saudi banks are expected to pursue alternative funding strategies to deal with the rapid expansion in lending, fueled by the demand for new mortgages, according to S&P Global.
In its latest report, the credit-rating agency stated…
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Saudi imports, exports increase despite regional tensions
Saudi Arabia’s imports and exports increased 5 percent in the first quarter of 2024 despite the tension in the region, according to a senior official.
In November 2023, the Saudi Ports Authority, known as Mawani, announced a 5.31 percent…
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Egypt’s net foreign assets deficit shrinks $17.8bn in March
Egypt’s net foreign assets deficit shrank $17.8 billion in March, its second month of decline, central bank data showed, after remittances, foreign portfolio investment and a $5 billion payment from the UAE poured into the country,…
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Europe to launch chamber of commerce in Riyadh
The first European Chamber of Commerce in the Gulf region will open next week in Riyadh, the EU’s special representative for the Gulf region has said.
Luigi Di Maio said the new body would bring Saudi and European companies together to…
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Malaysia to witness $10bn investment from ACWA Power in renewable energy sector: prime minister
Saudi utility firm ACWA Power has expressed interest in investing $10 billion in Malaysia over the next 10 years to develop renewable energy projects.
According to a report by the Malaysian National News Agency Bernama, ACWA Power will…
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Saudi Arabia and Mauritania forge energy pact, emphasizing expertise exchange
Saudi Arabia and Mauritania have signed a framework agreement aimed at exploring opportunities and fostering expertise exchange in the fields of electricity, renewable energy, and clean hydrogen.
The memorandum of understanding was…
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Ma’aden strengthens phosphate business through share purchase agreement with Mosaic
Saudi Arabian Mining Co. has entered into a share purchase and subscription agreement with the Mosaic Co. with the aim of expanding its phosphate business.
Headquartered in Florida, the firm is one of the leading producers and marketers…
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BlackRock, PIF launch multi-asset investment management platform in Riyadh
BlackRock Saudi Arabia and the Public Investment Fund signed a memorandum of understanding on Tuesday which entitles the former to establish a Riyadh-based multi-asset investment platform.
It will be anchored by an initial investment…
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Cashless payments in Saudi Arabia to rise by 7.6% in 2024
Cashless payments in Saudi Arabia are expected to surge by 7.6 percent in 2024 to SR550 billion ($146.8 billion) as compared to SR511.5 billion the previous year, a report said.
The report issued by GlobalData, a London-based data…
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Saudi Arabia, China discuss collaboration in urban development during Beijing meeting
Saudi Arabia and China stand to gain by sharing expertise in city planning, sustainable urban development, and construction technology as officials from both sides met in Beijing.
Saudi Minister of Municipal and Rural Affairs and Housing…
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