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: 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
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: Expatriate remittances from Saudi Arabia reached $3.2 billion in June, reflecting an annual increase of 11.32 percent, according to the latest data from the Saudi Central Bank, also known as SAMA. This figure underscores the Kingdom’s significant role in global remittance flows and is a testament to the economic dynamics influencing the region. The … Read more
ABU DHABI: The UAE National Team have extended their winning streak at the ongoing IMMAF Youth World Championships here with three more medals on the third day. On Thursday, in the Youth B, 14 to 15 age division at the Mubadala Arena, Saif Alblooshi (40 kg) claimed silver, while Ali Mohamed Alnajar (40 kg) and … Read more
RIYADH: Saudi Arabia exported non-oil goods worth SR2.23 billion ($594 million) in May, representing a rise of 19.25 percent compared to the previous month, official data showed. According to the General Authority for Statistics, China was the third-largest destination for Saudi Arabia’s non-oil products in May, behind the UAE and China, which received goods worth … Read more
RIYADH: Saudi Arabia exported non-oil goods worth SR2.23 billion ($594 million) in May, representing a rise of 19.25 percent compared to the previous month, official data showed. According to the General Authority for Statistics, China was the third-largest destination for Saudi Arabia’s non-oil products in May, behind the UAE and China, which received goods worth … Read more
Closing Bell: Saudi main index closes at 11,679 as Middle Eastern stock markets rebound RIYADH: Most stock markets in the Gulf rebounded on Tuesday as comments from US Federal Reserve officials soothed investor nerves following the previous session’s global sell-off on fears of a possible US recession. Saudi Arabia’s Tadawul All Share Index rose on … Read more
RIYADH: The CEO of Zain KSA, Sultan bin Abdulaziz Al-Deghaither, who is credited with turning around the company, passed away, the mobile telecommunications operator announced. Al-Deghaither, who served as CEO for six years, led the company through a transformative period, eliminating over SR2 billion ($532.6 million) in accumulated losses and tripling its market capitalization. Mourning … Read more
RIYADH: The CEO of Zain KSA, Sultan bin Abdulaziz Al-Deghaither, who is credited with turning around the company, passed away, the mobile telecommunications operator announced. Al-Deghaither, who served as CEO for six years, led the company through a transformative period, eliminating over SR2 billion ($532.6 million) in accumulated losses and tripling its market capitalization. Mourning … Read more