RIYADH: Saudi Arabia exported non-oil goods worth SR2.23 billion ($594 million) in May, representing a rise of 19.25 percent compared to the previous month, official data showed. According to the General Authority for Statistics, China was the third-largest destination for Saudi Arabia’s non-oil products in May, behind the UAE and China, which received goods worth … Read more
RIYADH: Saudi Arabia’s ports recorded a 15.72 percent increase in container handling in July compared to the same month last year, official data showed. The latest statistics from the Saudi Ports Authority, known as Mawani, revealed that the Kingdom’s terminals received 271,465 standard containers in July, up from 234,592 in July 2023. The volume of … Read more
Startup Wrap – OSN+, AhnLab, and Mubashir among firms to see funding success during Ramadan CAIRO: Startups in the Middle East and North Africa region have closed Ramadan and started Eid Al-Fitr on a positive note as venture activity continued. Among the most significant announcements during the holy month was UAE-based online streaming platform OSN+ and … 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: More than 1 million employees joined Saudi Arabia’s private sector in 2023, marking an 11.5 percent increase compared to 2022, according to new data. The National Labor Observatory said that 1.06 million workers joined the business sphere in 2023, with women constituting 37 percent of the total, representing a 2 percent increase from 2022, as reported … Read more
Closing Bell – TASI loses 63 points to close at 12,556, reaches $2.6bn trade volume RIYADH: Saudi Arabia’s Tadawul All Share Index closed at 12,555.72 points on Monday, losing 62.90 points or 0.50 percent. The MSCI Tadawul Index also dipped by 7.94 points or 0.50 percent to finish at 1,595.64, while the parallel market Nomu rose … Read more
RIYADH: Saudi Arabia’s proactive leadership and investments in advanced tech solutions have positioned it as a global innovation leader, according to a top official. During the LEAP 2024, Anant Maheshwari, president and CEO of Honeywell’s Global High Growth Regions portfolio, told Arab News that Saudi Arabia was a “crucial market” for the company, being one … 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
RIYADH: Office space rents across all grades in Riyadh rose in 2023 due to increased demand from national and international occupiers, a study showed. According to a report released by real estate consultancy services CBRE, average prime rents in Saudi Arabia’s capital city increased by 20.7 percent in the 12 months leading up to the … Read more
RIYADH: Global trading system accessibility, intellectual property, and dispute settlement take center stage as the 13th World Trade Organization Ministerial Conference commenced in Abu Dhabi. The four-day event, starting on Feb. 26, will address these issues within the WTO, featuring the participation of trade ministers and senior officials from around the world, the Saudi … Read more