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Business
Saudi MSMEs see 20 percent growth in credit offerings
Credit facilities provided to micro, small, and medium enterprises in Saudi Arabia saw a 20 percent rise in 2023 compared to the preceding year, marking the highest growth rate for 3 years.
Data from the Kingdom’s central bank, known as…
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Ramadan sees an uptick in consumer spending as e-commerce hits ‘peak season’
Local markets and online shopping will experience a surge during Ramadan activities thanks to an influx of consumers adapting their shopping habits during the holy period.
The purchasing power of customers in the Kingdom during the month…
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UAE travel tech sets high ambitions for Saudi expansion
The burgeoning expatriate community and digital surge in Saudi Arabia have beckoned UAE-based travel tech startup Tumodo to expand its horizons.
Vladimir Kokorin, co-founder of the firm, unveiled the company’s ambitious strategy to…
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UN adopts first global artificial intelligence resolution
The United Nations General Assembly on Thursday unanimously adopted the first global resolution on artificial intelligence to encourage protecting personal data, monitoring AI for risks, and safeguarding human rights, US officials said.…
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Qatar’s credit rating upgraded to ‘AA’ amidst strong economic outlook: Fitch
Qatar’s long-term foreign currency issuer default rating has been upgraded to ‘AA’ with a stable outlook by Fitch Ratings, driven by the country strengthening its external balance sheet.
In its latest report, the credit rating agency…
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Almost all Saudi airports achieve 100% complaint resolution in February: GACA
Ten out of the 11 airports in Saudi Arabia that received passengers’ complaints in February resolved them on time, according to the General Authority of Civil Aviation.
In its monthly classification for air transport service providers,…
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UAE’s industrial exports surge by 60% to $50bn in 3 years: minister
The UAE’s industrial exports surged by 60 percent over the past three years, amounting to a projected 187 billion dirhams ($50.9 billion), according to a minister.
Sultan Ahmed Al-Jaber, the minister of industry and advanced technology,…
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COP28 president unveils ‘Troika Vision’ to ensure countries deliver climate action
President of COP28 Sultan Ahmed Al-Jaber has unveiled a joint vision involving the leaders of three climate change conferences as he called for energy transition pathways to be “just, orderly and responsible.”
The first-of-its-kind…
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Saudi Arabia maintains strong position on UN maritime connectivity index
Saudi Arabia has scored above 240 points on a UN index measuring maritime connectivity for the fifth quarter in a row, reflecting improved shipping services.
The Kingdom was awarded 248 points by the international body for the first…
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GCC, Turkiye eye stronger economic ties with launch of free trade talks
Economic ties between Turkiye and the Gulf Cooperation Council are poised to improve as both sides signed a deal to launch negotiations for a free trade agreement.
Jassim Mohammed Al-Budaiwi, secretary-general of the GCC, said that this…
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