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

Saudi Arabia’s economic review shows resilience amid global challenges

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’s Suez Canal Economic Zone secures $3.2bn in project contracts: chairman 

RIYADH: Saudi Arabia unveiled its first “State of Aviation” report, highlighting the sector’s contributions to the Kingdom’s economic growth, as industry leaders gathered for the Future Aviation Forum.  Speaking at the opening ceremony of the three-day event in Riyadh, Saudi Minister of Transport and Logistic Services Saleh Al-Jasser emphasized the unprecedented importance of aviation.  Saudi … Read more

Riyadh prepares to host special meeting of World Economic Forum

IsDB leads multilateral development banks group in $300-$400bn lending boost target RIYADH: A group of elite financial institutions, led by the Islamic Development Bank, is aiming to increase its lending margin by $300-$400 billion over the next decade to reduce global inequalities. The announcement came after presidents of ten multilateral development banks met in Washington, D.C., to … Read more

SAMA governor stresses vigilance amid economic challenges 

WASHINGTON: Shareholders of the International Monetary Fund agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.  Multiple reports from the IMF and the World Bank this week sounded the alarm about economic developments and prospects … Read more

Saudi Arabia’s AI adoption ignites technological advancement and economic growth

RIYADH: As artificial intelligence gains global attention and becomes a buzzword, Saudi Arabia is positioned for accelerated adoption to enhance efficiency across its industries. Over the years, AI has evolved into a transformative technology revolutionizing numerous industries and domains. Its development and adoption across sectors have spurred significant advancements, already reshaping how people live and … Read more

Saudi minister calls for ‘decisive financial policies’ to counter global economic uncertainties

RIYADH: Dubai’s inflation witnessed a slight decrease in March, dropping to 3.34 percent compared to 3.36 percent in February, according to official data. The decline in inflation is attributed to lower prices of specific goods and services, notably in the food and transportation sectors. Dubai’s Consumer Price Index rose to 110.77 points in March, compared … Read more

Turkiye will take steps to strengthen economic program, Erdogan says 

ANKARA: Turkiye will take steps to strengthen its medium-term economic program and the three main priorities are to increase public savings, prioritize investments and accelerate structural reforms, President Tayyip Erdogan said.  Speaking on Tuesday evening after a cabinet meeting, Erdogan said his economic team had made preparations for such steps to strengthen the program, MTP, … Read more

Pakistan pushes to forge strategic, economic partnership as Saudi FM visits Islamabad

ISLAMABAD: Pakistani top leaders, including the prime minister, president and foreign minister, said on Tuesday the ongoing visit of Saudi Foreign Minister Prince Faisal bin Farhan to Islamabad would help transform a longstanding friendship between the two nations into a strategic and commercial partnership. Prince Faisal arrived in Pakistan on Monday on a two-day visit … Read more

Egypt’s economic reforms yielding positive results: finance minister

RIYADH: Egypt’s new economic path, focused on structural reforms empowering the private sector to lead growth and attracting investment, has begun to yield positive results, said the country’s finance minister.   Mohamed Maait highlighted that despite the harsh impacts of global and regional economic crises, Egypt has seen financial indicators surpass budget estimates and targets over the … Read more