Trade between Saudi Arabia, Egypt worth $6.8bn, report shows

Trade between Saudi Arabia, Egypt worth $6.8bn, report shows
Trade exchange between Egypt and Saudi Arabia totalled about $6.8 billion in 2019, a slight drop on the $7.1 billion figure recorded the previous year, according to a government report issued in Cairo. (AFP/Shutterstock/File Photo)
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Updated 28 October 2020

Trade between Saudi Arabia, Egypt worth $6.8bn, report shows

Trade between Saudi Arabia, Egypt worth $6.8bn, report shows
  • The report showed that Egyptian exports to the Kingdom rose to $1.68 billion in 2019
  • Egypt’s exports to Arab countries rose by 6.3 percent to a record $10.1 billion during 2019

CAIRO: Trade exchange between Egypt and Saudi Arabia totalled about $6.8 billion in 2019, a slight drop on the $7.1 billion figure recorded the previous year, according to a government report issued in Cairo.

The report showed that Egyptian exports to the Kingdom rose to $1.68 billion in 2019 compared with $1.43 billion in 2018.

Egypt’s exports to Arab countries rose by 6.3 percent to a record $10.1 billion during 2019 compared with $9.5 billion in 2018.

According to the report, the UAE ranked first for Egyptian exports in 2019 with $2.05 billion.

Saudi Arabia ranked second with about $1.6 billion, followed by Jordan with $875 million.

Agricultural and animal products ranked first in terms of export volume to Arab countries during 2019, with about $2.5 billion, a 17 percent drop from 2018.

These were followed by marble and ceramics products, worth $1.8 billion — an increase of 4 percent — and chemical and plastic products, worth about $1.6 billion — a rise of 16 percent.

The volume of trade exchange between Egypt and other Arab countries totalled $10.3 billion in the first nine months of 2019.

Egyptian exports to the member states of the Agreement to Facilitate and Develop Trade Among Arab States recorded about $6.8 billion in the same period.


Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

Engaging in any action or behavior aimed at creating a false or misleading impression indicating active trading transaction on a specific security, which is contrary to the truth is also illegal. (File/Shutterstock)
Updated 04 December 2020

Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

Saudi Public Prosecution says giving false impression of capital market is ‘serious crime’

Saudi Arabia’s Public Prosecution affirmed that it is prohibited by law to intentionally take any action that creates a false or misleading impression about the capital market, prices, or value of any security or to induce third parties to buy, sell, or subscribe to this security.

It stated in a tweet that this is one of the serious crimes that require arrest, according to the Public Prosecutor's decision No. (1) dated 1/1/1442.

The following actions are considered fraudulent:

Engaging in any action or behavior aimed at creating a false or misleading impression indicating active trading transaction on a specific security, which is contrary to the truth.

Performing a series of transactions on a specific security to influence on a particular stock.

Conducting a series of trades on a specific security, such as buying and/or selling a security, with the aim of price stabilization.

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