Saudi Arabia unveils updated investment law to facilitate foreign investors

RIYADH: Saudi Arabian Mining Co., widely known as Ma’aden, achieved a net profit of SR2 billion ($532 million) in the first half of 2024, marking a striking 160 percent increase compared to the same period in 2023. This surge in profitability was driven by several key factors. A major contributor to this financial success was … Read more

Riyadh Air unveils 1st electric bus as part of sustainable transport initiative

RIYADH: Saudi Arabian Mining Co., widely known as Ma’aden, achieved a net profit of SR2 billion ($532 million) in the first half of 2024, marking a striking 160 percent increase compared to the same period in 2023. This surge in profitability was driven by several key factors. A major contributor to this financial success was … Read more

Closing Bell: Saudi benchmark index rises to close at 11,771 

RIYADH: Saudi Arabian Mining Co., widely known as Ma’aden, achieved a net profit of SR2 billion ($532 million) in the first half of 2024, marking a striking 160 percent increase compared to the same period in 2023. This surge in profitability was driven by several key factors. A major contributor to this financial success was … Read more

Saudi Arabia’s King Abdulaziz Port enhances connectivity with new shipping service

RIYADH: Saudi Arabian Mining Co., widely known as Ma’aden, achieved a net profit of SR2 billion ($532 million) in the first half of 2024, marking a striking 160 percent increase compared to the same period in 2023. This surge in profitability was driven by several key factors. A major contributor to this financial success was … Read more

Egypt and Japan eye enhanced economic cooperation on 70th anniversary of ties

RIYADH: Key entertainment services, including licenses for facilities, talent management, and crowd management certifications, can now be accessed on Saudi Arabia’s new digital platform.  Launched by the General Entertainment Authority, the initiative is available through the Saudi Business Center’s digital platform and aims to streamline processes for entrepreneurs and companies, boosting business activity and investment … Read more

Oman’s real estate trading exceeds $3.66bn in first half of 2024

RIYADH: Oman’s real estate sector saw a total trading value of 1.40 billion Omani rials ($3.63 billion) in the first half of the year, marking a 0.5 percent increase from the same period in 2023.    The data, released by the National Center for Statistics and Information, revealed that fees collected for legal transactions totaled … Read more

OPEC cuts oil demand growth forecast, highlighting dilemma over Oct. hike

RIYADH: Saudi Arabia’s point-of-sales spending reached around SR52.76 billion ($14.05 billion) in June, registering a 1.75 percent rise compared to the same month last year, the latest data revealed.  Figures from the Saudi Central Bank, known as SAMA, reported that 30 percent of POS spending during this period — amounting to SR15.73 billion — was … Read more

Saudi Aramco commits $100m to KAUST for R&D in energy transition, sustainability

RIYADH: Saudi Arabia’s point-of-sales spending reached around SR52.76 billion ($14.05 billion) in June, registering a 1.75 percent rise compared to the same month last year, the latest data revealed.  Figures from the Saudi Central Bank, known as SAMA, reported that 30 percent of POS spending during this period — amounting to SR15.73 billion — was … Read more

Closing Bell: Saudi main index closes in red at 11,740 

RIYADH: Saudi Arabia’s point-of-sales spending reached around SR52.76 billion ($14.05 billion) in June, registering a 1.75 percent rise compared to the same month last year, the latest data revealed.  Figures from the Saudi Central Bank, known as SAMA, reported that 30 percent of POS spending during this period — amounting to SR15.73 billion — was … Read more

Saudi Arabia’s point-of-sale spending reaches $14bn in June 

RIYADH: Saudi Arabia’s point-of-sales spending reached around SR52.76 billion ($14.05 billion) in June, registering a 1.75 percent rise compared to the same month last year, the latest data revealed.  Figures from the Saudi Central Bank, known as SAMA, reported that 30 percent of POS spending during this period — amounting to SR15.73 billion — was … Read more