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: Saudi Arabia’s non-oil exports increased 0.8 percent in January compared to the same month in 2023, official data showed. According to the report released by the Kingdom’s General Authority for Statistics, the total value of the sector, including re-exports, reached SR24 billion ($6.40 billion). Moreover, the ratio of non-oil trade rose to 35.8 percent in … Read more
Cenomi Centers secures $1.39bn Shariah-compliant, sustainability-linked financing RIYADH: Saudi Arabia’s lifestyle and leisure sectors have been infused with SR5.25 billion ($1.39 billion) after mall operator Cenomi Centers secured financing for the “next generation” of retail experiences. The firm’s Shariah-compliant, sustainability-linked funding agreement with a syndicate of top-tier banks is set to deliver a new take on retail within the … Read more
Riyadh Air inks deal with Sabre Corp. to enhance operational efficiency RIYADH: The operational efficiency of Saudi Arabia’s upcoming airline Riyadh Air is poised for improvement with the signing of an agreement with Texas-based Sabre Corp. Under this deal, the software and technology provider will help the carrier drive incremental revenue gains through end-to-end network planning and … Read more
LONDON: The Middle East and North Africa region’s pay-TV revenues are set to fall $1.6 billion by 2029, a report by market analysis firm Digital TV Research revealed on Monday. The study attributed this 43 percent drop to $2.2 billion to the increasing popularity of over-the-top media services and the issue of piracy in the region. … Read more