Saudi Arabia’s M&A volume hits $955m in Q1, fueled by chemicals sector

  • RIYADH: Saudi Arabia led the Middle East in mergers and acquisitions in the chemicals sector in the first quarter of 2024, with $500 million worth of deals, according to recent data. Figures from financial markets platform Dealogic showed that the Kingdom’s total M&A deal volume during th...
·

Credit facilities for UAE’s business and industrial sectors exceed $206.2bn

  • RIYADH: The cumulative credit balance in the UAE’s business and industrial sectors rose to 757.4 billion dirhams ($206.2 billion) in the first quarter of the year, up from 741.8 billion dirhams at the end of 2023. A release from the Central Bank of the UAE showed that credit fa...
·

Saudi Arabia among leading GCC nations in Global Energy Transition Rankings: WEF Report

  • RIYADH: 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 2024,” evaluated 120 countries based ...
·

King Abdulaziz Port boosts infrastructure with new cranes, enhancing global maritime hub status

  • RIYADH: Saudi Arabia’s King Abdulaziz Port’s crane capacity has been boosted by 9.7 percent as part of an SR7 billion ($1.86 billion) investment deal. The facility, operated by Saudi Global Ports Co., has received three automated quay and three rubber-tired gantry cranes, ...
·

‘Central Bank Digital Currencies’ can boost Middle East’s financial inclusion: IMF

  • RIYADH: Digital currencies are gaining traction in the Middle East and Central Asia, with countries increasingly considering central bank-issued options to enhance financial inclusion, an analysis said.  In a blog, the International Monetary Fund noted that economies in these region...
·

Saudi Arabia advances preparations for Riyadh Expo as it gives progress report in Paris

  • RIYADH: Saudi Arabia’s Expo 2030 will be “by the world, for the world,” the team behind the event have said during the first progress report since Riyadh was elected as host city. Speaking at the 174th General Assembly of the Bureau International des Expositions in Paris, Abdulaziz Alghannam,...
·

Saudi Arabia’s international reserves highest in 18 months at $467.5bn

  • RIYADH: Saudi Arabia’s international reserve assets reached SR1.75 trillion ($467.5 billion) in May, the highest in 18 months and an annual 6 percent increase, according to new data.  Figures released by the Saudi Central Bank, also known as SAMA, reveal that these holdings encompass mon...
·

UAE stock market cap surges by $5.79bn in 2024 with strong IPO activity

  • RIYADH: The UAE’s stock market capitalization has surged by 21.3 billion dirhams ($5.79 billion) this year, thanks to three new initial public offerings launched since the beginning of 2024, according to a new analysis.   Alef Education Holding, Parkin, and Spinneys 1961 Holding, we...
·

Saudi Arabia’s crude production rose to 8.99m bpd in April: JODI

  • RIYADH: Saudi Arabia’s crude production increased by 13,000 barrels per day in April to reach 8.99 million, according to an analysis from the Joint Organizations Data Initiative.  The data indicated that exports over the same month saw a decline despite this growth, dipping by ...
·

IMF heralds Saudi Arabia’s ‘unprecedented economic transformation’ in glowing report

  • RIYADH: Saudi Arabia’s “unprecedented economic transformation” is progressing well thanks to prudent government policies and successful diversification efforts, according to the International Monetary Fund. In a report focusing on the changing economic landscape of the Kingdom, the organizati...
·

Pages