Missing Israeli teen found ‘murdered’ in West Bank: Netanyahu

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LONDON: Northern Gaza faces a catastrophe without more assistance, the UN’s humanitarian coordinator said on Friday, with communication between the Israeli military and foreign aid groups still poor and no meaningful improvements happening on the ground. Jamie McGoldrick, who works for the UN Office for the Coordination of Humanitarian Affairs, warned that Gaza was sliding … Read more

Saudi bank loans increase by 11% to reach $706bn, fueled by real estate activities

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Startup Wrap – OSN+, AhnLab, and Mubashir among firms to see funding success during Ramadan CAIRO: Startups in the Middle East and North Africa region have closed Ramadan and started Eid Al-Fitr on a positive note as venture activity continued.  Among the most significant announcements during the holy month was UAE-based online streaming platform OSN+ and … Read more

stc pay obtains SAMA approval for transition to STC Bank

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RIYADH: The Kingdom’s leading mobile wallet, stc pay, has received approval from the Saudi Central Bank to proceed with its transformation into STC Bank. This beta launch will enable selected users to upgrade their accounts from an stc pay digital wallet into an STC Bank account. They will also be provided an International Bank Account … Read more

Riyad Bank considering IPO of its investment banking unit

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RIYADH: The UAE central bank’s foreign assets surged to 695.04 billion dirhams ($189.2 billion) in January, showing a 38.8 percent yearly increase, according to official data. The financial sector’s total reserves also grew, hitting 4.1 trillion dirhams in January – a 0.8 percent monthly increase, according to official data. Additionally, total bank credit at the end of January … Read more

Who's Who: Tareq Al-Sadhan, CEO of Saudi National Bank

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The board of Saudi National Bank has appointed Tareq Al-Sadhan as CEO starting May 1, 2024. Prior to his new role, Al-Sadhan was president and CEO of Riyadh Bank since April 2019. From January 2018 to March 2019, he served as the bank’s senior executive vice president. Al-Sadhan also worked for KPMG Saudi Arabia, where … Read more

UAE’s economy set to grow by 5.2% in 2025: central bank 

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RIYADH: The UAE’s economy received a positive outlook, with the nation’s central bank predicting a substantial 5.2 percent growth in the gross domestic product by 2025.   According to the Central Bank of the UAE, the country’s GDP is expected to rise by 4.2 percent in 2024 before accelerating to 5.2 percent the following year.  This … Read more

Gun attack on school bus in West Bank wounds 3 Israelis: army

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LONDON: Amid escalating geopolitical tensions in the Middle East, Jordan is looking to bolster its defenses against possible incursions by Iran-backed militias on its borders. The new approach follows a series of attacks against US military bases across the Gulf, culminating in a drone assault on a logistics support site of the Jordanian Defense Network … Read more

UAE sees region’s highest bank branch revenues: top Roland Berger executive

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RIYADH: Saudi Arabia’s non-oil exports increased 0.8 percent in January compared to the same month in 2023, official data showed.  According to the report released by the Kingdom’s General Authority for Statistics, the total value of the sector, including re-exports, reached SR24 billion ($6.40 billion). Moreover, the ratio of non-oil trade rose to 35.8 percent in … Read more

Israeli helicopter gunship kills Palestinian gunman in West Bank

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JERUSALEM: Muslims worshippers flocked to Jerusalem’s Al-Aqsa mosque compound for the second Friday prayer of Ramadan under the heavy presence of Israeli police, a sign of lurking tensions in the holy city.“We feel lucky to be at Al-Aqsa while hundreds of thousands are deprived of access to it,” said Mustafa Al-Sheikh, a 62-year-old Palestinian who … Read more

Daesh: Suicide bomber targeted Taliban collecting salaries at Afghan bank

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ISLAMABAD: The Daesh group claimed responsibility for a deadly bombing that targeted Taliban trying to collect their salaries at a bank in southern Afghanistan. The bombing Thursday at a branch of New Kabul Bank in Kandahar city killed three people and wounded 12 others. All of the victims were people who had gathered there to … Read more