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Saudi Arabia closes April sukuk issuance at $1.97bn
Saudi Arabia has completed its riyal-denominated sukuk issuance for April at SR7.39 billion ($1.97 billion), representing a rise of 66.44 percent compared to the previous month.
The National Debt Management Center revealed that the…
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PIF-owned ROSHN expands in Eastern Province with new residential project
Saudi developer ROSHN Group has launched its first integrated community, ALDANAH, in the economic hub of Greater Dammam, featuring over 2,500 homes spread across 1.7 million sq. m.
The development, the second in the Eastern Province by…
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Influx of Chinese models to drive Mideast EV sales amid global surge
The entry of Chinese car models in the Middle East could drive regional electric vehicle sales, as global figures are projected to reach 17 million units by 2024.
According to the latest International Energy Agency report, this marks a…
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Mitsui says no decision yet on ADNOC LNG project tie-up after Nikkei report
Japan’s Mitsui & Co. said on Tuesday nothing has been decided on a liquefied natural gas project in the UAE, after the Nikkei reported it was teaming up with Abu Dhabi National Oil Co. on it.
The Nikkei reported ADNOC would have a…
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Pakistan eyes new IMF loan by early July, finance minister says
Pakistan could secure a staff-level agreement on a new long-term larger loan with the International Monetary Fund by early July, its finance minister said on Tuesday, according to Reuters.
The country’s current $3 billion arrangement…
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UBS gets green light to open Saudi branch for banking operations
In a move aimed at enhancing Saudi Arabia’s financial landscape, the Kingdom has granted permission for a branch of the Swiss bank UBS to operate within the nation.
According to the Saudi Press Agency, the approval was granted during a…
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UAE and Oman establish $35bn investment partnerships across multiple sectors
Trade and economic ties between the UAE and Oman are set to further strengthen thanks to the signing of investment deals worth 129 billion dirhams ($35.12 billion).
According to a press statement, these agreements cover multiple sectors,…
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Egypt increases funding needed in 2024-2025 budget by over $59bn
Egypt has increased the amount of funding required in its 2024-2025 budget by over 2.8 trillion pounds ($59 billion) following successive shock waves.
In the financial statement of the new draft budget, Minister of Finance Mohamed Maait…
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Supermarket chain Spinneys eyeing expansion into Jeddah as it prepares Riyadh opening
UAE-based grocery store operator Spinneys 1961 Holding PLC is planning to make its debut in Saudi Arabia, capitalizing on the Kingdom’s development and increasing demand for retail products.
The company’s CEO, Sunil Kumar, stated that…
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Saudi Arabia offers 3rd round of ‘Sah’ savings products with 5.59% return
Saudi Arabia has opened its third round of the subscription-based savings product, Sah, for April, offering a 5.59 percent return, encouraging financial stability and growth among citizens.
The Shariah-compliant, government-backed sukuk…
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