GCC

Saudi banks showcased a notable improvement in credit quality in the first three months of the year as the non-performing loan ratio decreased to 1.4 percent, according to data from the Saudi Central Bank. The bank, known as SAMA,…
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A free trade deal between the Gulf Cooperation Council and the UK remains on course to be completed by the end of 2024 despite the change of government in London, according to a senior official. Secretary-General of the GCC Jasem Mohamed…
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A robust oil and gas sector, high interest margins, and fintech innovation will help drive banking sector growth across the Gulf Cooperation Council region in 2024 and beyond, according to a new report. Analysis by global management…
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The Gulf region’s luxury sector is growing twice as fast as the global industry, reaching $12.5 billion in 2023, driven by strong macroeconomics and flourishing tourism, a new report revealed. According to the findings by luxury goods…
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Saudi Arabia has secured the third position among the Gulf nations in a global Energy Transition Index, according to the latest findings released by the World Economic Forum. The report, titled “Fostering Effective Energy Transition…
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Gulf Cooperation Council central banks have held interest rates steady for the seventh consecutive period, aligning with the US Federal Reserve’s benchmark rate of 5.25 to 5.50 percent. Since most regional currencies are pegged to the US…
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The 160th Ministerial Council meeting of the Gulf Cooperation Council will convene in the Qatari capital, Doha, on Sunday in the presence of the foreign ministers of the Gulf countries. Two joint ministerial meetings will also be held on…
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Saudi Arabia, the UAE, and Oman are set to lead the Middle East’s solar transition thanks to several key factors, according to a new report. In its latest analysis, Norwegian business intelligence and research company Rystad Energy…
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Saudi banks exceed their Gulf Cooperation Council counterparts in terms of risk profiles underpinning their asset quality, according to Fitch Ratings. The credit rating agency said in a statement that there is a strong correlation…
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The value of the healthcare sector in the Gulf Cooperation region is projected to reach $135 billion by 2027 driven by rising investor confidence, an analysis showed. In its latest report, real estate and investment management firm JLL…
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