NEW DEHLI: Millions of people in India’s tech hub of Bengaluru are facing an unprecedented water crisis as a key supply of the resource runs dry, in what experts said is a result of unplanned urbanization in the southern metropolis. The city also known as Bangalore and more popularly as India’s “Silicon Valley” is located … Read more
SINGAPORE: Oil prices held steady on Thursday, holding onto overnight gains after upbeat Chinese trade data and after US data showed a smaller-than-expected rise in crude inventories and large draws in fuel stocks, according to Reuters. However, expectations that US interest rate cuts could be delayed capped gains. Brent crude futures slipped 4 cents to … Read more
RIYADH: The Saudi capital will soon be home to new offices and commercial projects thanks to the launch of the Durrat King Khalid Fund, inaugurated by Riyad Capital. Established in partnership with Saudi real estate firm Al-Ramz, the new initiative aims to develop a qualitative project within the office property sector, positioned in a prime … Read more
RIYADH: Credit card loans in Saudi Arabia surged to SR27 billion ($7.2 billion) in 2023, marking a 17 percent annual increase, according to data from the Saudi Central Bank. Analyzing data from the financial institution, also known as SAMA, shows that this surge could be attributed to the ease of acquiring credit cards, the enticing reward programs they … Read more
RIYADH: Qatar experienced a 1.3 percent decline in inflation in January compared to December 2023, driven by decreased prices for communication and recreation, official data showed. According to the report released by the country’s Planning and Statistics Authority, the consumer price index, a comprehensive measure of inflation, reached 108.55 points. Compared to December, expenses for … Read more
RIYADH: Saudi Arabia’s insurance industry is projected to experience a compound annual growth rate of 5.2 percent until 2028, reaching SR83.7 billion ($22 billion), a study showed. This growth, up from the current SR68.3 billion in 2024, is primarily driven by the health and motor segments, which together will account for 86 percent of the … Read more
RIYADH: Saudi Arabia’s insurance industry is projected to experience a compound annual growth rate of 5.2 percent until 2028, reaching SR83.7 billion ($22 billion), a study showed. This growth, up from the current SR68.3 billion in 2024, is primarily driven by the health and motor segments, which together will account for 86 percent of the … Read more
LONDON: Copper prices steadied on Friday after a week of heavy losses as investors got a glimmer of hope that top metals consumer China was bolstering its economy with financing measures, according to Reuters. Zinc and lead, however, touched fresh lows as gains in inventories highlighted weak demand and oversupply. Data on Friday showed that … Read more
RIYADH: Qatar’s international reserves increased by 5.26 percent annually to 246.04 billion riyals ($67.58 billion) in January, driven by higher balances in foreign banks, official data showed. According to data released by the Qatar Central Bank, total reserves rose from 233.75 billion riyals in the same month of 2023. The increase is mainly due to … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 117.66 points, or 1.00 percent, to close at 11,914.29. The total trading turnover of the benchmark index was SR8.22 billion ($2.19 billion) as 89 of the listed stocks advanced, while 132 retreated. Similarly, the Kingdom’s parallel market Nomu also rose 205.65 points, or 0.82 … Read more