Economy

Riyadh Air signed a five-year agreement on Monday to use GE Aerospace’s flight operations software, the airline has announced. The partnership will equip the new Saudi Arabian airline with data-driven analytics to optimize fuel…
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Saudi Arabia’s economic growth is expected to outpace the global average in 2025 according to the latest International Monetary Fund study. The IMF’s World Economic Outlook update puts the Kingdom’s output increase at 4.7 percent next…
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Egypt’s budget recorded a preliminary surplus of 875 billion Egyptian pounds ($18.14 billion) for the fiscal year 2023/2024, compared to 164 billion during the previous period, a top official revealed. During a Cabinet meeting chaired by…
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More than 45 farmers, beekeepers, and small business owners participated in the fourth Khayrat Al-Baha Festival. Organized by the region’s Ministry of Environment, Water and Agriculture, the seasonal festival provided a valuable…
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Saudi Arabia is set to enhance private sector cooperation with Thailand as the Southeast Asian nation opens its first Board of Investment office in Riyadh, a top official announced. On the sidelines of a business forum in the Saudi…
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Yemen’s Houthi militia on Saturday rejected a demand by UN Yemen Envoy Hans Grundberg to hold discussions with the Yemeni government to resolve knotty economic problems, especially the government’s punitive actions against Sanaa banks.…
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Reestablishing a business council with Canada after a five-year hiatus is the latest example of the pivotal role the Federation of Saudi Chambers is playing in facilitating international trade, experts have insisted. On July 7 it was…
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OPEC has raised its global ⁧‫economy‬⁩ growth expectations in 2024 to 2.9 percent, from a previous forecast of 2.8 percent. In its monthly report, the organization noted that growth momentum in major economies remained resilient in the…
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Remittances by expatriates living in Saudi Arabia saw an annual rise of 12 percent in May to SR12.6 billion ($3.4 billion), marking the highest level in nearly two years. The latest bulletin from the Saudi Central Bank, also known as…
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Remittances from Egyptians living abroad have continued their upward trajectory for the third consecutive month, rising by 26.6 percent to reach $2.7 billion in May. According to data from the Central Bank of Egypt, this marks a…
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