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: Saudi Arabia’s Riyad Bank has approved the assessment and preparation of an initial public offering of its investment banking unit, Riyad Capital. According to a Tadawul statement, the board of directors are considering listing the subsidiary on the main market of the Saudi Exchange. “Riyad Bank and Riyad Capital will coordinate to finalize the … Read more
DUBAI: Is there any hope for the children of Gaza amid the ongoing Israel-Hamas conflict, restrictions on aid access, and a looming famine in the north of the enclave? According to UN Children’s Fund spokesperson James Elder, who recently toured the length of Gaza, only an immediate ceasefire can turn the humanitarian situation around. Appearing … Read more
ISTANBUL: Bruised and fractured by Tayyip Erdogan’s victory in the 2023 general elections, Turkiye’s opposition aims to land a blow in Sunday’s local polls. The outcome is tied to the future of its biggest hope, Istanbul Mayor Ekrem Imamoglu.The nationwide municipal votes on March 31 could reinforce President Erdogan’s control after two decades of running … Read more
RIYADH: Saudi Arabia is emerging as a proactive leader, pioneering green initiatives to mitigate economic challenges posed by the transformation toward sustainability, according to the International Monetary Fund. A recent report by the IMF highlighted the intricate dynamics at play and underscored the Gulf Cooperation Council and Saudi Arabia’s strategic positioning in this evolving scenario. … Read more
RIYADH: UAE Islamic banks saw their asset values rise to 703 billion dirhams ($191.4 billion) by the end of 2023 in what was an 11 percent annual increase, official data showed. Figures released by the Central Bank of the UAE revealed this was a jump from 630.7 billion dirhams in December 2022, marking a growth of 72.4 billion … Read more
QUETTA, Pakistan: All eight gunmen who attacked Pakistan’s Gwadar port on Wednesday have been killed, said the chief minister of Balochistan province, where the port is located. “Eight terrorists tried to attack the Gwadar Port Authority complex today. All of them have been neutralized by security forces,” Sarfraz Bugti said in a post on social … Read more
JEDDAH: In the holy month of Ramadan, the tradition of breaking fast with dates is deeply ingrained in the fabric of the Muslim society, making this iconic fruit a staple on the iftar spread. Prophet Muhammad said: “When one of you breaks his fast, let him break it with dates, for they are a blessing; … Read more
RIYADH: Global methane emissions from the energy sector will drop after reaching a near-record high in 2023, driven by new policies and COP28 pledges, showed a recent report. In its latest study, the International Energy Agency said that the production and use of fossil fuels resulted in close to 120 million tonnes of methane emissions in … Read more
UN envoy says allegations of sexual violence committed against Israeli hostages doesn’t justify attacks on Gaza NEW YORK: The UN envoy focusing on sexual violence in conflict warned Israel on Monday that the finding of “clear and convincing information” that some hostages taken by Hamas during its Oct. 7 attack in southern Israel were subjected … Read more