Chinese businesses shown NEOM opportunities as ‘Discover’ tour hits Beijing, Shanghai RIYADH: Opportunities for Chinese companies to engage with and invest in NEOM have been showcased in Beijing and Shanghai, attracting significant interest from several companies. The giga-project kicked off the Chinese leg of its global “Discover NEOM” tour in the capital on April 15, followed by a visit to … Read more
RIYADH: By breaking down geographical barriers, the metaverse — a digital space that uses virtual and augmented reality — is set to foster unprecedented levels of collaboration and connectivity. From how individuals work, plan, design, and build to how they shop, relax, travel, and live, it will have a significant impact on almost every aspect … Read more
RIYADH: Japan’s Mitsubishi Power is committed to supporting Saudi Arabia’s growing demand for energy to help it achieve the prosperity outlined in Vision 2030, according to a top official. Adel Al-Juraid, CEO of Mitsubishi Power in Saudi Arabia, shared profound insights into the company’s transformative journey in an interview with Arab News, offering a comprehensive overview … Read more
RIYADH: Saudi e-commerce sales using Mada cards reached SR14.11 billion ($3.76 billion) in February – an annual increase of 25 percent, the Kingdom’s central bank has revealed. This figure includes transactions through online shopping, in-app purchases and e-wallets, and excludes transactions by Visa, MasterCard and other credit cards. The number of e-commerce transactions also increased … Read more
RIYADH: Credit facilities provided to micro, small, and medium enterprises in Saudi Arabia saw a 20 percent rise in 2023 compared to the preceding year, marking the highest growth rate for 3 years. Data from the Kingdom’s central bank, known as SAMA, showed borrowing lines allocated to this sector reached a total of SR275.66 billion ($73.51 … Read more
RIYADH: Ten out of the 11 airports in Saudi Arabia that received passengers’ complaints in February resolved them on time, according to the General Authority of Civil Aviation. In its monthly classification for air transport service providers, GACA highlighted the performance of airlines and related transport hubs based on traveler complaints filed during the second month … Read more
RIYADH: Oman’s general inflation index remained stable at 105.3 in February compared to the same period in 2023, according to the latest official data. The data from the National Center of Statistics and Information also highlighted that the inflation rate had decreased to 0.0 percent in February compared to 1.8 percent recorded in the corresponding … Read more
RIYADH: Moody’s Investors Service has retained a positive outlook for Saudi Arabia’s banking sector thanks to the Kingdom’s economic diversification programs. In its latest report, the US-based credit rating agency said the demand for credit for government-backed projects will improve loan performance and generate strong profit for banks in Saudi Arabia. “The banks’ operating environment … Read more
RIYADH: Women rejoining the workforce after a career gap could contribute $385 billion to the economies of nine Middle East and North Africa countries, a survey showed. According to a study conducted by PwC Middle East, this opportunity to increase the gross domestic product highlights significant employment potential in the region. This will prompt companies … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 40.74 points, or 0.32 percent, to close at 12,618.62. The total trading turnover of the benchmark index was SR7.59 billion ($2.02 billion) as 151 of the stocks advanced, while 66 retreated. On the other hand, the Kingdom’s parallel market Nomu slipped 129.53 points, or … Read more