RIYADH: With twinkling lights turned on and the smell of freshly fried samosas in the air, Muslim and non-Muslim expat households across the Kingdom join in observing the holy month of Ramadan, marked by its spiritual nature and family-centric values Expats share both their excitement and expected challenges as they observe Ramadan away from home. … Read more
World leaders in business, finance and technology gather in Miami for city’s 2nd FII Priority Summit MIAMI: World leaders in business and finance are meeting in Miami this week to discuss potential solutions to the planet’s ongoing conflicts and climate change, as well as artificial intelligence. The second edition of the Future Investment Initiative Priority … 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: Global financial experts will gather in Riyadh on Monday to discuss the future of finance, evolving strategies, and innovative ideas to boost the sector’s growth at the third Saudi Capital Market Forum. The two-day event organized by Saudi Tadawul Group, to be held under the theme “Powering Growth,” will serve as a nexus for … Read more
CAIRO: Saudi Arabia’s entrepreneurial landscape is bustling with innovation, as startups across the Kingdom are leading a digital revolution in various sectors. Among these, the healthcare industry stands out as a primary focus, with a significant influx of technology firms dedicated to enhancing the sector’s efficiency and accessibility. In an interview with Arab News, Prince Mohammed … Read more
RIYADH: Increased credit to corporate activities propelled a 10 percent annual surge in loans for Saudi banks in 2023, reaching SR2.58 trillion ($690 billion), the latest data showed. According to the Saudi Central Bank’s latest monthly bulletin, credit extended to individuals, constituting 48 percent of bank loans, grew by 7 percent in 2023, while corporates … Read more
RIYADH: Kuwait’s annual consumer price index registered a 3.37 increase in December 2023, compared to the same period the previous year, driven by high prices in several major sectors. The country’s monthly CPI also saw a rise of 0.3 percent in December compared to the previous month, according to a recent report by the nation’s … Read more
OTTAWA: The number of study permits Canada issued to Indian students fell sharply late last year after India ejected Canadian diplomats who would process the permits and fewer Indian students applied due to a diplomatic dispute over the murder of a Sikh separatist leader in Canada, a top Canadian official told Reuters.Immigration Minister Marc Miller … Read more
HOUSTON/SINGAPORE: Oil prices were mixed on Tuesday, after posting losses the previous session, as broad economic concerns outweighed continued tensions in the Middle East that led to more tanker diversions, according to Reuters. Brent crude futures gained 3 cents, or about 0.04 percent, to $78.15 a barrel at 9:47 a.m. Saudi time. The contract had … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index dropped on Sunday, losing 56.096 points, or 0.46 percent, to close at 12,060.03. The total trading turnover of the benchmark index was SR5.7 billion ($1.52 billion) as 60 stocks advanced, while 162 retreated. The Kingdom’s parallel market, Nomu, also slipped 110.98 points, or 0.45 percent, to close … Read more