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Saudi bank loans surge to $700bn, fueled by real estate, corporate expansion
Saudi banks extended loans totaling SR2.62 trillion ($700 billion) in January, marking an 11 percent rise from the same month in 2023, according to official data.
Figures released by the Kingdom’s central bank showed an increase in…
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Fitch expects IPO momentum in GCC to continue in 2024
Government pledges for privatization will drive the momentum of initial public offerings in the Gulf Cooperation Council region in 2024, according to Fitch Ratings.
In its latest report, the credit rating agency said that the sale of…
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Turkiye to tighten fiscal policy more to help trim inflation, Simsek says
The Turkish government will continue to tighten fiscal policy to help the central bank reduce inflation, Finance Minister Mehmet Simsek said on Monday, also highlighting the agency Fitch’s upgrade of the country/s sovereign rating.
In…
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Saudi Arabia’s real estate sector poised for growth in 2024: S&P report
Real estate transactions are set to surge in Saudi Arabia in 2024 thanks to Vision 2023 investments, according to an S&P Global report.
In a report titled “GCC Real Estate How Credit Stories Have Evolved,” S&P believes the…
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Qatar’s international reserves surge by 4.91% to $67.69bn
Qatar’s international reserves increased by 4.91 percent annually to 246.49 billion Qatari riyals ($67.69 billion) in February, driven by higher balances in foreign banks.
According to the country’s official news agency, balances held in…
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Dubai’s non-oil private sector hits fastest growth since May 2019 with PMI at 58.5
Dubai’s non-oil private sector maintained its growth momentum in February, with the Emirate’s Purchasing Managers’ Index reaching 58.5 – the highest since May 2019. a survey showed.
According to the PMI report by S&P Global, the…
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Egypt’s annual urban inflation jumps to 35.7% in February
Egypt’s annual urban consumer price inflation jumped to 35.7 percent in February from 29.8 percent in January, driven mainly by a rise in food and beverage prices, data from statistics agency CAPMAS showed on Sunday.
The increase in…
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SAR, Maersk collaborate to increase container transport via trains
The transport network between the Dammam and Riyadh ports is poised for improvement as Saudi Railways Co. partners with shipping firm Maersk to increase container movement via trains.
SAR has signed a three-year contract with the Danish…
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Central Bank of Oman’s foreign assets rise to $17.49m in 2023
The Central Bank of Oman’s total foreign assets increased by 0.1 percent, reaching 6.73 million Omani rials ($17.49 million) as of Dec. 31, 2023, compared to the same period the previous year.
The rise in foreign asset figures enhances…
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Saudi non-oil activities rise by 4.4% in 2023: GASTAT
Saudi Arabia’s non-oil activities demonstrated a significant growth of 4.4 percent in 2023 compared to the previous year, official data showed.
Additionally, government activities in the Kingdom experienced a rise of 2.1 percent in 2023…
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