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Press Dossier   By Date  12/05/2025
Saudi Arabia adds over 1,000 hotel keys as summit opens with major deals
Saudi Arabia’s hospitality sector saw a boost on the opening day of the Future Hospitality Summit, with more than 1,000 new hotel keys announced across several high-profile agreements.
Closing Bell: Saudi main index slips to close at 11,346
Saudi Arabia’s Tadawul All Share Index slipped on Sunday, losing 17.52 points, or 0.15 percent, to close at 11,346.59.
Saudi Arabia and Bahrain sign agreement to complete medical city project
Bahrain’s King Hamad bin Isa Al-Khalifa met with Saudi Arabia’s Minister of Education, Yousef bin Abdullah Al-Bunyan, at Al-Sakhir Palace on Sunday during the latter’s visit to sign an agreement for the completion of King Abdullah bin Abdulaziz Medical City.
Fed holds rates steady and adopts ‘wait-and-see’ stance on trade war
The US services sector expanded in April with the ISM PMI coming in at 51.6, lifted by new orders and inventories, though employment contracted, and tariff-driven price pressures hit a 27-month high. The Federal Reserve held rates steady at 4.25 percent-4.50 percent, citing trade uncertainty as aggressive tariffs risk stagflationary pressures, while unemployment claims dipped to 228,000.
NBK, KOC sign MoU for employee development
Under the strategic partnership between the two institutions, the National Bank of Kuwait signed a Memorandum of Understanding aimed at sharing knowledge and developing and upskilling employees by organizing different workshops and programs specializing in various fields that can serve a wide range of employees from both institutions on different administrative levels.
MoCI forms panel to monitor prices, control inflation
Minister of Commerce and Industry Khalifa Al-Ajeel on Sunday issued a decision establishing a central committee to study prices in the domestic market and monitor inflation and supply chains in a bid to control the movement of prices.
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