RIYADH: Saudi Arabia’s inflation eased to 1.6 percent in March, down from 1.8 percent the previous month, driven by changes in the food and beverage sector. The latest report from the General Authority for Statistics indicates that the Kingdom’s Consumer Price Index experienced a marginal decrease of 0.1 percent in March compared to February. The … Read more
RIYADH: The net profit of insurance companies in Saudi Arabia surged by 1,221.3 percent year-on-year in 2023 to $861 million, driven by favorable economic conditions. According to the report released by research firm Insurance Monitor, in association with Lux Actuaries and Consultants, four firms from the Kingdom grabbed their spots on the list of the … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 22.44 points, or 0.18 percent, to close at 12,607.98. The total trading turnover of the benchmark index was SR7.35 billion ($1.96 billion) as 155 stocks advanced, while 62 retreated. Similarly, the MSCI Tadawul Index increased by 1.57 points, or 0.10 percent, to close at … 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: Transport, tourism and logistics are set to help the Gulf Cooperation Council region secure gross domestic product growth far above the lobal average, economists have told Arab News. Experts believe that a focus on non-oil trade by GCC governments is helping countries display economic resilience in the face of global disruptions, such as the conflict … 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
SINGAPORE: Oil prices fell on Thursday after a larger-than-expected jump in US crude inventories, raising concerns about demand in the world’s largest economy and top oil consuming nation, according to Reuters. Brent crude futures fell 34 cents, or 0.4 percent, to $81.26 a barrel at 6:37 a.m. Saudi time, while US West Texas Intermediate crude … 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
PIF’s Aseer Investment Co. announces launch of operations in region RIYADH: The Asir region is poised to emerge as a premier tourist destination, thanks to a new operation launched by the investment firm of Saudi Arabia’s sovereign wealth fund. During the Public Investment Fund’s second Private Sector Forum, Prince Turki bin Talal, chairman of Aseer … Read more
RIYADH: The global merger and acquisition market witnessed a 15 percent drop year-on-year to $3.2 trillion in 2023, marking its lowest level in a decade, according to recent findings. Dealmakers grappled with several obstacles, including high interest rates, increased regulatory scrutiny, and mixed macroeconomic signals, forcing them to be more selective in their pursuit of … Read more