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: Calls for completely abandoning oil and fully relying on renewable energy have been deemed “wrong” and “unrealistic” by Haitham Al-Ghais, the secretary-general of the Organization of the Petroleum Exporting Countries. “If oil disappeared, this would also affect the production of renewable energy, such as manufacturing of wind turbines and solar panels, as their production … Read more
RIYADH: With twinkling lights turned on and the smell of freshly fried samosas in the air, Muslim and non-Muslim expat households across the Kingdom join in observing the holy month of Ramadan, marked by its spiritual nature and family-centric values Expats share both their excitement and expected challenges as they observe Ramadan away from home. … Read more
World leaders in business, finance and tech gather in Miami for the 2nd FII Priority Summit MIAMI: From conflict and climate change to the rise of disruptive new technologies like artificial intelligence, humanity faces an array of challenges. That is why world leaders in business and finance are meeting in Miami this week to discuss … Read more
RIYADH: Saudi Arabia and Japan have further strengthened bilateral relations by finalizing 14 agreements across multiple sectors. The Saudi-Japanese Investment Forum held in Riyadh on Tuesday saw the signing of several memorandums of understanding and announcements of critical projects between government entities and private sector players from both countries. The agreements addressed areas of cooperation … Read more
CAIRO: The startup ecosystem in Saudi Arabia remains at the forefront of regional funding trends, attracting substantial investments. Naeem, a Saudi Arabia-based software as a service platform targeting the salon and beauty sector, has recently closed an undisclosed pre-seed funding round led by Lunment and a group of angel investors. Founded in 2022 by Abdullah … Read more