| Saudi Arabia's 2025 growth outlook strong at 4.4%
Saudi Arabia’s economy is forecast to grow 4.4 percent in 2025, driven by strong non-oil sector momentum and easing oil production cuts, according to the projections. |
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| KSA positioned to lead global hydrogen production, say experts
Saudi Arabia is poised to become one of the world’s leading producers of hydrogen, capitalizing on its abundant renewable energy resources and robust infrastructure, experts say. |
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| Aramco, Linde, and SLB partner on major carbon capture hub in Jubail
Saudi Arabia: Saudi energy giant Aramco has signed a shareholders’ agreement with Linde and SLB to advance the development of a major carbon capture and storage hub in Jubail, |
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| CarbonCure to launch groundbreaking CCU project in Saudi Arabia
Convened by the Saudi Ministry of Energy, CarbonCure Technologies, a global leader in carbon utilization technologies for the concrete industry, Abdullah Abdin, a specialized concrete, cement and asphalt company in Saudi Arabia, and Gulf Cryo, the leading CaaS (Carbon-as-a-Service) developer and industrial gas solutions provider in the region, have announced new agreements to integrate carbon capture and utilization technologies for construction in NEOM’s development. |
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| Aramco, TotalEnergies and SIRC eye SAF production unit in Saudi
Saudi oil giant Aramco today (December 3) announced the signing of a Joint Development and Cost Sharing Agreement (JDCSA) with TotalEnergies, a global multi-energy company, and Saudi Investment Recycling Company (SIRC) to assess the development of a sustainable aviation fuels (SAF) production unit in the kingdom. |
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| Al Dhaid Honey Festival opens with over 70 exhibitors
The inaugural edition of the "Al Dhaid Honey Festival" has been officially opened by Abdallah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry (SCCI), in the presence of Sheikh Ahmed bin Hamdan Bin Mohammed Al Nahyan, Chairman of Abu Dhabi Agricultural Club. |
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| Dubai: Record property prices, payment plans push buyers from prime areas to outskirts
Record high prices and aggressive off-plan payment plans by Dubai developers are pricing out buyers of the central districts and forcing them to look for properties in the outskirts. |
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| Naseej awards contract for premium Bahrain seafront project
Leading Bahraini developer Naseej has appointed Bokhowa Contracting & Trading Group as the main contractor for the construction of its Nasayim Arad ‘Smart’ Project located within the Governorate of Muharraq. |
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| Qatar's banking sector ‘drives innovation, sustainability’
A comprehensive exploration of Qatar's financial landscape underscores the sector’s drive towards technological innovation and sustainable growth, fully aligned with Qatar National Vision 2030. |
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| Closing Bell: Saudi main market closes in red to settle at 11,739
Saudi Arabia’s Tadawul All Share Index dropped by 0.02 percent, or 2.39 points, to settle at 11,739.35 points on Monday. |
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| Saudi Arabia, France to collaborate on 3 renewable energy projects: Al-Falih
Three renewable energy projects are set to be developed in Saudi Arabia with the involvement of French companies, according to Minister of Investment Khalid Al-Falih. |
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| Saudi PMI hits 59 in November as non-oil sector grows
Saudi Arabia’s non-oil private sector ended November with robust momentum, as business activity expanded at its fastest pace since July 2023, latest business survey showed. |
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| Arab stock markets see growth in trading activity with a 16.35% surge in value: AMF
Arab stock markets experienced a boost in trading values in October, with a monthly increase of 16.35 percent, according to the latest report by the Arab Monetary Fund. |
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| Saudi corporate lending fuels bank loans growth to near 2-year high of 12.46%
Saudi Arabia’s bank loans reached SR2.88 trillion ($768.93 billion) in October, a 12.46 percent annual growth and the highest in 20 months, official data showed. |
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| Oman inflation at 0.8% in October: official data
Oman’s inflation rate saw a modest 0.8 percent increase in October compared to the same month last year despite price increases across several categories, according to an official report. |
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| Saudi Arabia launches 10th round of ‘Sah’ savings product with 4.83% return
Saudi Arabia has launched the 10th round of its subscription-based savings product, Sah, for December, offering a competitive return of 4.83 percent. |
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| Closing Bell: Saudi main index rises to close at 11,741
Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 100.43 points, or 0.86 percent, to close at 11,741.74. |
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| Saudi banks post 3.7% loan growth in Q3 amid rising credit demand: report
Saudi Arabia’s banking sector recorded a 3.7 percent sequential increase in loans and advances in the third quarter of 2024, driven by a 4.4 percent surge in corporate and wholesale banking, according to Alvarez & Marsal. |
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| Saudi Arabia’s Economic Council reviews outlook, approves key growth strategies
Saudi Arabia’s Council of Economic and Development Affairs reviewed the Kingdom’s economic outlook and strategies to address global challenges, offering recommendations to support growth and resilience. |
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| Arab stock markets see growth in trading activity with a 16.35% surge in value: AMF
Arab stock markets experienced a boost in trading values in October, with a monthly increase of 16.35 percent, according to the latest report by the Arab Monetary Fund. |
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| NBK-Egypt records KD 38.2 million in net profit; a remarkable growth of 101%
National Bank of Kuwait - Egypt (NBK-Egypt) has reported net profits of EGP 5.2 billion (equivalent to KD 38.2 million) for the first nine months of 2024, a significant increase from the EGP 2.6 billion (equivalent to KD 26.5 million) reported in the corresponding period of 2023, showcasing an impressive growth rate of 101 percent. |
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| Japan’s Saudi crude oil imports reach 41.8% of October total
Japan’s imports of Saudi oil in October 2024 amounted to 27.8 million barrels, a significant 41.8 percent of the total, according to the Japanese Ministry of Economy, Trade and Industry’s Agency of Natural Resources and Energy. |
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| Islamic banking in Kuwait and Oman stable amid favorable conditions: Fitch Ratings
The standalone credit profiles of Islamic banks in Kuwait are expected to remain stable in 2025, supported by favorable operating conditions, according to a recent analysis by Fitch Ratings. |
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| Moody’s upgrades ratings for 11 Saudi banks
Eleven banks in Saudi Arabia have seen their long-term deposit and senior unsecured ratings upgraded by Moody’s thanks to a strong operating environment. |
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| Saudi Arabia boosts R&D spending to $6bn in 2023 amid Vision 2030 push
Saudi Arabia ramped up its research and development spending to SR22.61 billion ($6.02 billion) in 2023, marking a 17.4 percent increase from the previous year, according to official data. |
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| Saudi corporate lending fuels bank loans growth to near 2-year high of 12.46%
Saudi Arabia’s bank loans reached SR2.88 trillion ($768.93 billion) in October, a 12.46 percent annual growth and the highest in 20 months, official data showed. |
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| Closing Bell: Saudi main index rises to close at 11,641
Saudi Arabia’s Tadawul All Share Index gained 50.52 points, or 0.44 percent, closing at 11,641.31 on Thursday. |
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| S&P Global forecasts 4.7% GDP growth for Saudi Arabia in 2025
S&P Global has projected steady growth for Saudi Arabia’s economy, forecasting a 0.8 percent gross domestic product increase in 2024 and a robust 4.7 percent in 2025. |
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| Saudi Arabia looks to non-oil growth for a stronger, more stable future
Saudi Arabia is focused on achieving high-quality growth through sustainable non-oil activities, aiming to boost private sector dynamism and productivity, while ensuring continued economic progress that goes beyond short-term expenditures, a minister stated. |
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| Saudi Arabia sets new unemployment rate target of 5% by 2030
Saudi Arabia has revised its unemployment rate target to 5 percent by 2030, down from the previous goal of 7 percent, as part of Vision 2030’s ambitions, an official revealed. |
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| Saudi Arabia, Tajikistan sign deal to boost non-oil trade
Saudi Arabia and Tajikistan have signed a memorandum of understanding to accelerate non-oil exports and knowledge sharing. |
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| President chairs ADNOC meet, approves launch of $80b XRG
President His Highness Sheikh Mohamed Bin Zayed Al Nahyan has presided over the annual meeting of the ADNOC Board of Directors. |
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| 25 companies compete for six Saudi sports clubs
Saudi Arabia’s ongoing sports privatization initiative has sparked significant interest from both local and international investors. A total of 25 companies are now actively pursuing investment opportunities in six of the 14 sports clubs proposed for privatization in the first phase. |
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| Kingdom grants license to Jeddah Yacht Club
Saudi Arabia: Saudi Arabia has granted an operator license for its first international harbour to Jeddah Yacht Club and Marina, boosting tourism and strengthening its position as a leading regional and global maritime hub. |
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| UAE to become a global leader in innovation and entrepreneurship
he Ministry of Economy (MoE) has announced that Continuous Ventures, an Ireland-based venture capital firm and accelerator that specialises in supporting high-potential startups in the tech space, has become a strategic partner to its NextGen FDI initiative, which seeks to attract pioneering global companies to the UAE. |
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| Bahrain tops global innovation in open banking with key tieup
In a groundbreaking partnership, Bahrain’s top innovator and leading company in fintech and electronic financial transactions service Benefit has joined forces with Tarabut to introduce the first innovation-led, centralised open banking authentication solution in the kingdom. |
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| Saudi Arabia approves FY2025 budget, forecasts $27bn deficit amid expansionary spending
Saudi Arabia: Saudi Arabia on Tuesday approved the state budget for fiscal year 2025 with revenues projected at SR1.18 trillion ($315.73 billion) and expenditure at SR1.28 trillion, leading to a deficit of SR101 billion. |
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| UK fintech firms eye growth in Saudi Market
Saudi Arabia: UK-based fintech firms have an opportunity to address rising demand for fintech services in Saudi Arabia, according to the Lord Mayor of London. |
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| Vedanta plans $2bn investment in big Saudi copper projects
Vedanta Copper International, a wholly-owned subsidiary of Idian business conglomerate Vedanta has signed a Memorandum of Understanding (MoU) with the Ministry of Investment and Ministry of Industries & Mineral Resources of the Kingdom of Saudi Arabia. |
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| EU seeks to boost green energy collaboration with Saudi Arabia
Saudi Arabia: The EU is keen to expand its cooperation with Saudi Arabia in the energy sector as the world increasingly shifts toward green energy, according to a senior EU official. |
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| Saudi Arabia’s NEOM giga-project a ‘generational investment,’ minister says
Saudi Arabia’s NEOM gigaproject, a futuristic region being built in the desert, is a “generational investment” with a long timeline, the country’s investment minister told Reuters on Monday, adding that foreign investment will pick up pace. |
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| Saudi Arabia unveils world’s largest food park in Jeddah, eyes $5.3bn in investments
Saudi Arabia has officially launched the Jeddah Food Cluster, a major project aimed at transforming the city into a global business hub with an investment target of SR20 billion ($5.3 billion). |
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| Saudi Tadawul Group rolls out 2nd phase of post-trade enhancements
Saudi Arabia’s capital markets are on track for substantial growth following the successful rollout of the second phase of the post-trade transformation enhancements by the Saudi Tadawul Group. |
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| Saudi Arabia’s franchise registrations surge 866%, surpass 1,780
Saudi Arabia has witnessed an 866 percent surge in franchise registrations over the past three years, reaching 1,788 by the end of the third quarter of 2024. |
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| Closing Bell: Saudi main index closes in red despite $3.2bn in trade volume
Saudi Arabia’s Tadawul All Share Index dropped by 0.65 percent or 77.18 points to settle at 11,787.72 points on Monday. |
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| UAE banking sector sees 3.9% growth in deposits
The UAE banking sector recorded a 3.9 percent quarterly increase in deposits during the third quarter, driven primarily by a 5.6 percent rise in time deposits, according to a recent report. This solid growth in deposits outpaced the 3.5 percent rise in loans and advances over the same period. |
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| Saudi Arabia’s non-oil exports surge 16.8% in Q3: GASTAT
Saudi Arabia’s non-oil exports reached SR79.48 billion ($21.17 billion) in the third quarter of 2024, a rise of 16.76 percent compared to the same period in 2023, according to official data. |
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| Saudi Arabia forms new committee to spur private sector role in petrochemicals
Saudi Arabia has established its first-ever national committee for energy and petrochemicals under the Federation of Saudi Chambers, aimed at enhancing private sector participation in these key industries. |
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| Saudi Arabia launches Ramlah Co. to boost tourism in Hail region
Saudi Arabia’s Ministry of Tourism is supporting private sector growth by launching Ramlah Co. for Tourist Trips and Resorts, a new initiative to attract visitors to the Hail region. |
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| Saudi Arabia permits flour mills to export surplus production
Saudi Arabia has approved a plan allowing licensed flour mills to export surplus production to international markets, provided local supply remains secure. |