NEOM wraps up China tour by confirming Sindalah island attraction to open in 2024 RIYADH: Saudi megacity NEOM on Sunday wrapped up a tour courting Chinese investors with an event at its last destination, Hong Kong. The event was organized in partnership with the Belt and Road Office under the Commerce and Economic Development Bureau … Read more
RIYADH: Saudi Arabia’s technology space is poised for further improvement with the signing of an agreement between Dahua Technology and Alat, owned by the Kingdom’s Public Investment Fund. According to a press statement, the agreement is a part of Dahua’s recent expansion plan in the Middle East and North Africa region, after it opened an … Read more
RIYADH: Global bonds issuance is expected to grow by 4.3 percent in 2024, with sustainability-linked instruments contributing between $950 billion and $1.05 trillion to the overall surge. According to a recent report by the credit rating agency S&P Global, green, social, sustainability and sustainability-linked bonds, known as GSSSB, in 2024 could account for 14 percent … Read more
RIYADH: Chinese e-commerce giant Alibaba Group Holding plans to strengthen ties with the Gulf region by partnering with local firms in Saudi Arabia and the UAE. During a panel session at Dubai’s World Governments Summit, Michael Evans, president of Alibaba Group, highlighted the company’s successful partnerships within the Gulf Cooperation Council and expressed plans to replicate … Read more
RIYADH: Egypt is considering issuing bonds denominated in Emirati dirhams, Indian rupees, and Hong Kong dollars as part of its diversified financing strategy. On the sidelines of the Asian Financial Forum, the North African country’s Minister of Finance, Mohamed Maait, told the Emirates News Agency that discussions are underway with Hong Kong’s Secretary for Financial Services … Read more
Tourism growth in Saudi Arabia propelling hospitality industry, says Rotana official RIYADH: The exponential growth witnessed in Saudi Arabia’s tourism sector underscores the profound influence of Vision 2030 in this domain, according to a top official. Elucidating the contribution of Rotana Hotels to the development of the tourism industry, Chief Operating Officer Eddy Tannous expressed that the … Read more
RIYADH: The UAE’s Abu Dhabi Commercial Bank has become yet another player to have obtained a permit to operate in the fast-expanding financial market of Saudi Arabia. Among other decisions, the Kingdom’s Cabinet on Tuesday licensed Abu Dhabi Commercial Bank to open a branch, the Saudi Press Agency reported. This development also signifies an expansion … Read more
RIYADH: The registration of regional maritime clubs in Saudi Arabia experienced a 49 percent growth in 2023, official data revealed. The latest business sector bulletin by the Ministry of Commerce showed the number of registrations by the end of the fourth quarter of 2023 reached 580, compared to 389 by the end of 2022. Makkah topped the list … Read more
RIYADH: The Gulf Cooperation Council countries witnessed a surge in US dollar sukuk issuance, registering a 178 percent year-on-year growth in the past year. According to a report by Fitch Ratings, in core markets like the GCC, Malaysia, Indonesia, Pakistan, and Turkiye, sukuk accounted for a 29 percent share of debt capital market issuances across … Read more
RIYADH: Over a third of medical consultations in Saudi Arabia are done via digital channels, said Ahmed Al-Suwaiyan, governor of Digital Government Authority. Speaking on the first day of the Digital Government Forum in Riyadh on Tuesday, Al-Suwaiyan said it indicated the level of success with which the Kingdom is moving toward digital transformation in … Read more