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WEF: Space economy to triple to $1.8 trillion by 2035, outpacing global GDP growth
The global space economy is projected to expand to $1.8 trillion by 2035, marking a threefold increase from $630 billion in 2023, new research by the World Economic Forum has found.
Published on Monday, the report highlights that growth…
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Saudi industrial sector sees 63% surge in new investments
Saudi Arabia’s industrial sector experienced a 63 percent increase in new investments in 2023, amounting to a SR15 billion ($3.99 billion) rise compared to the previous year.
According to the annual report from the Saudi Authority for…
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Saudi insurers lead GCC region in net profit and revenues, study shows
The net profit of insurance companies in Saudi Arabia surged by 1,221.3 percent year-on-year in 2023 to $861 million, driven by favorable economic conditions.
According to the report released by research firm Insurance Monitor, in…
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China Southern Airlines to operate regular flights to Riyadh
Aviation firm China Southern Airlines has been given the green light by Saudi Arabia to operate flights between Riyadh and three cities in the Asian country.
The Kingdom’s General Authority of Civil Aviation, through its Air Transport…
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Egypt’s inflation slows to 33.1% in March
A drop in the price of cereals, bread, and vegetables saw Egypt’s urban consumer price inflation rate slow to 33.1 percent in March from 36 percent in February.
Data released from the country’s Central Agency for Public Mobilization and…
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Shell, Aramco in final stage of Pavilion Energy talks – sources tell Reuters
Shell and Saudi Aramco, which are competing to buy the assets of Temasek-owned liquefied natural gas trading firm Pavilion Energy, are now locked in price negotiations after completing the due diligence process, three sources with knowledge…
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Kuwait adds 5 new e-payment solutions providers to boost financial innovation
The Kuwaiti banking sector is poised for innovation as five new fintech firms have registered with the country’s central bank to offer electronic payment solutions.
The registration requests of four companies to provide online…
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Saudi Arabia invites global firms to join mining exploration program
The Saudi mineral sector is poised for expansion with the introduction of the Mining Exploration Enablement Program, inviting global firms and explorers to participate in the initiative.
The Kingdom’s Ministry of Industry and Mineral…
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Saudi Arabia’s green hydrogen production efficiency positions it as a global leader: report
Saudi Arabia can produce green hydrogen more efficiently than Germany, a recent report comparing the two nations has revealed.
Due to favorable environmental conditions, the Kingdom requires notably less investment for target H2…
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Deposits at Saudi banks increased 10.26% in February
Saudi banks’ total deposits reached SR2.54 trillion ($677 billion) in February, marking a 10.26 percent increase from the same month last year, the official data showed.
Analysis conducted on the data released by the Saudi Central Bank…
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