RIYADH: One of the region’s leading optical retail chains, Magrabi Retail Group, reported double-digit growth in 2023, highlighting its adaptability in a rapidly evolving market landscape. The company witnessed a 15 percent surge in total sales compared to the previous year, and a 30 percent increase in like-for-like sales under its Doctor M banner, surpassing previous … Read more
RIYADH: Saudi Arabia’s money supply surged 10 percent in January to reach SR2.72 trillion ($726 billion), the central bank data showed. The growth was primarily driven by a substantial rise in banks’ term and savings accounts, which recorded a rise of 31 percent to reach SR864.32 billion. The overall figure, however, also includes currency outside … Read more
AI will drive efficiency amid global economic slowdown, leading financiers tell FII Priority Summit MIAMI: The chiefs of four of the world’s leading corporations stressed on Thursday, during the first day of the Future Investment Initiative Miami Summit, that while artificial intelligence has the potential to drive higher investment and economic growth across the world … Read more
Startup Wrap — regional venture landscape kicks off 2024 with a flurry of deals CAIRO: Startups in the Middle East and North Africa are leaving no stone unturned at the beginning of 2024, with a flurry of deals in the second week of the year. Saudi health tech startup Clinicy has secured substantial investment through … Read more