RIYADH: Qatar’s international reserves increased by 4.91 percent annually to 246.49 billion Qatari riyals ($67.69 billion) in February, driven by higher balances in foreign banks. According to the country’s official news agency, balances held in foreign banks saw an increase of about 6.81 billion riyals, reaching 19.03 billion riyals by the end of February 2024 … Read more
RIYADH: The Saudi Cabinet recently approved regulations for the country’s tourism authority that will give a fresh impetus to the sector and contribute to its overall growth. The Cabinet, chaired by King Salman, approved 24 regulations concerning the Saudi Tourism Authority with a focus on global promotion, international and regional collaboration and tourists targets. The … Read more
Atletico Madrid back in Copa del Rey semifinals 7 years later. VAR denies stoppage-time penalty for Sevilla MADRID: Seven years later, Atletico Madrid is back in the Copa del Rey semifinals. Memphis Depay scored in the second half and video review called back a penalty for Sevilla in stoppage time as Atletico held on for … Read more
RIYADH: Saudi Arabia’s National Debt Management Center has unveiled its Annual Borrowing Plan Report for 2024, outlining the Kingdom’s strategies for financing in the coming year. The NDMC’s commitment to effective debt management is highlighted by a SR36 billion ($9.6 billion) liability management transaction. This strategic move extended the “Average Time to Maturity,” reducing the … Read more
RIYADH: The Saudi Export and Import Bank has signed an agreement to insure Saudi Basic Industries Corporation’s sales on a letter of credit basis across 40 countries against non-payment risks posed by the issuing banks, the bank said in a statement on Tuesday. It is considered to be the largest policy ever issued in … Read more
Global decarbonization gains momentum with over 120 commitments in emerging technologies LONDON: The global push for industrial decarbonization has reached new heights with the First Movers Coalition — a collaboration between the World Economic Forum and US government — announcing the signature of more than 120 commitments from 96 members. It makes FMC the world’s largest … Read more
RIYADH: Saudi Arabia’s Ministry of Industry and Mineral Resources issued 130 industrial licenses in November 2023, compared to 82 during the same month the previous year. The food manufacturing sector took the lead with 20 permits, followed by nonferrous metal manufacturing with 16, according to the monthly report by the ministry. A total of 15 … Read more
CAIRO: Despite global headwinds, the Saudi venture capital market ended the year 2023 on a positive note recording multimillion-dollar investment deals. The Kingdom’s Riyadh Valley Co., the investment arm of King Saud University, recently committed to an undisclosed amount of investment in IMPACT46 Fund III. Founded in 2019 by Abdulaziz Al-Omran, IMPACT46 is a Saudi-based … Read more
RIYADH: Sales jobs in Saudi Arabia’s insurance sector are on track to be localized thanks to a new decision by the Saudi Insurance Authority. Effective April 15, 2024, the decision comes amid efforts to support and empower national competencies and capabilities in the insurance sector, the Saudi Press Agency reported. This move also aligns well … Read more