Future Hospitality Summit to shine spotlight on Saudi Arabia’s growing tourism industry RIYADH: More than 1,200 investors from across the world will descend on Riyadh at the end of April for what is expected to be the biggest Future Hospitality Summit ever seen in Saudi Arabia. The event – set to be held at Al … Read more
Saudi banks’ deposits reach $677bn in February, reflecting economic resilience RIYADH: Saudi banks’ total deposits reached SR2.54 trillion ($677 billion) in February, marking a 10.26 percent increase from the same month last year, the official data showed. Analysis conducted on the data released by the Saudi Central Bank confirmed that growth was primarily fueled by … Read more
RIYADH: The UAE central bank’s foreign assets surged to 695.04 billion dirhams ($189.2 billion) in January, showing a 38.8 percent yearly increase, according to official data. The financial sector’s total reserves also grew, hitting 4.1 trillion dirhams in January – a 0.8 percent monthly increase, according to official data. Additionally, total bank credit at the end of January … Read more
RIYADH: Investors can now access over 1,000 opportunities in sectors, including tourism, across the Al-Baha and the Eastern Province municipalities, according to the Saudi Press Agency. The borough of the southwestern region of Al-Baha has presented a total of 1,088 acquisition prospects, both permanent and temporary, throughout the district, the SPA report noted.
RIYADH: Carbon markets are set to play a pivotal role in achieving climate goals, with efforts from Saudi Arabia and the UAE, paving the way for a smooth energy transition. According to a new report from the International Energy Forum, carbon markets are capable of effectively lowering the costs associated with greenhouse gas removal by … Read more
RIYADH: Carbon markets are set to play a pivotal role in achieving climate goals, with efforts from Saudi Arabia and the UAE, paving the way for a smooth energy transition. According to a new report from the International Energy Forum, carbon markets are capable of effectively lowering the costs associated with greenhouse gas removal by … 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: The latest edition of a framework designed to enhance e-government services and accelerate digital innovation in Saudi Arabia has been launched. The Digital Transformation Index for 2024 seeks to elevate the commitment levels of the public sector to decisions and directives concerning technological evolution. Additionally, it aims to improve the quality of e-government services … Read more
Fairmont Riyadh has unveiled “Luminous Nights” — a month of gastronomic delights and luxurious celebrations bringing loved ones, friends, family, and colleagues together. Embracing the spirit of Ramadan, the festivity will see the hotel come alive at sunset, as the sacred traditions of Ramadan intertwine with Fairmont’s signature luxury and culinary excellence. The property invites … Read more
RIYADH: Top Saudi banks demonstrated strong performances in 2023, with operating income growing by 9.5 percent, driven by non-interest revenue, according to professional services firm Alvarez & Marsal. The results of A&M’s fourth annual Kingdom of Saudi Arabia Banking Pulse for the 12-month period revealed a resilient and thriving financial sector with notable increases in key metrics. “The performance of the … Read more