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Saudi Arabia’s reserves grow 6% to $452.8bn in July
Saudi Arabia’s official reserve assets increased to SR1.7 trillion ($452.8 billion) in July, marking a 6.06 percent year-on-year rise, according to recent data.
Data from the Saudi Central Bank, known as SAMA, revealed that international…
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More global firms eligible for Saudi contracts after setting up HQs at KAFD
Ten additional global firms have become eligible for government contracts in Saudi Arabia by establishing their regional headquarters at Riyadh’s King Abdullah Financial District, revealed its CEO. ‘
Gautam Sashittal said during a panel…
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Abu Dhabi Global Market records 31% surge in operational entities in H1
The number of operational entities in the Abu Dhabi Global Market rose to 2,088 in the first half of 2024, reflecting a 31 percent surge compared to the same period in 2023.
During the first half, ADGM — an international financial center…
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Listed companies in Qatar see 5.5% hike in profits in H1 2024
Listed companies in Qatar saw a 5.5 percent increase in profits, reaching 25.73 billion Qatari riyals ($7.043 billion) in the first half of 2024, up from 24.38 billion riyals during the same period in 2023.
The banking and financial…
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Saudi wealth fund’s US stock investments hit $20.6bn in Q2
Saudi Arabia’s Public Investment Fund witnessed a modest rise in its US stock investments, reaching $20.66 billion in the second quarter, up from $20.55 billion in the previous quarter.
The wealth fund has undertaken a significant…
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Egypt’s sovereign wealth fund CEO resigns, sources say
The head of Egypt’s $12 billion sovereign wealth fund Ayman Soliman has resigned, three sources familiar with the matter told Reuters, after limited progress in the privatization drive announced at the start of his tenure five years ago.…
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ACWA Power signs deal for Indonesia’s first floating solar PV project
Saudi-listed ACWA Power has signed a power purchase agreement with Indonesia’s state-owned PT Perusahaan Listrik Negara for its inaugural floating solar photovoltaic project in the country.
The Saguling Floating Solar PV Project, with a…
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Egypt plans to add 30GW of renewable energy capacity
Egypt aims to save $4.1 billion annually in fuel costs by adding 30 gigawatts of new renewable energy capacity, as revealed in a recent government meeting.
This initiative is part of the country’s larger strategy to boost electricity…
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Saudi firm plans hydrogen-powered skyscraper in Egypt’s new capital
A Saudi-controlled real estate firm says it plans to break ground early next year in Egypt’s new capital on a $1 billion, 50-story office tower that aims to be the first of its kind to be powered by clean hydrogen.
The sophisticated…
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UAE’s Etihad Rail launches sustainable finance framework in green push
Etihad Rail, the developer and operator of the United Arab Emirates’ rail network, has launched a sustainable finance framework to support its green investments in transportation and infrastructure, it said on Wednesday.
The company said…
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