Pakistan pushes to forge strategic, economic partnership as Saudi FM visits Islamabad ISLAMABAD: Pakistani top leaders, including the prime minister, president and foreign minister, said on Tuesday the ongoing visit of Saudi Foreign Minister Prince Faisal bin Farhan to Islamabad would help transform a longstanding friendship between the two nations into a strategic and commercial … Read more
RIYADH: The World Bank has raised its expectations for Saudi Arabia’s economic growth to 5.9 percent in 2025 from 4.2 percent predicted earlier in January. In its latest report the bank, however, revised its 2024 forecast for the Kingdom’s gross domestic product growth downward to 2.5 percent from an earlier forecast of 4.1 percent. Concurrently, … Read more
RIYADH: The World Bank has raised its expectations for Saudi Arabia’s economic growth to 5.9 percent in 2025 from 4.2 percent predicted earlier in January. In its latest report the bank, however, revised its 2024 forecast for the Kingdom’s gross domestic product growth downward to 2.5 percent from an earlier forecast of 4.1 percent. Concurrently, … Read more
BRUSSELS: More than 100 of Europe’s most dangerous criminal networks operate in Belgium, a center for international drug trafficking as well as being the heart of EU politics, officials said on Friday, as street shooting rise in the capital. Belgian Justice Minister Paul Van Tigchelt said drug gangs were behind this year’s rise in street … Read more
Oil Updates – crude heads for second weekly gain on geopolitical tension, supply concerns SINGAPORE: Oil prices extended gains on Friday and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply and optimism about global fuel demand growth as economies improve, according to Reuters. … Read more
RIYADH: The UAE central bank’s foreign assets surged to 695.04 billion dirhams ($189.2 billion) in January, showing a 38.8 percent yearly increase, according to official data. The financial sector’s total reserves also grew, hitting 4.1 trillion dirhams in January – a 0.8 percent monthly increase, according to official data. Additionally, total bank credit at the end of January … Read more
RIYADH: Business conditions in the UAE non-oil private sector strengthened sharply in March, with optimism reaching its highest point in six months, as indicated by a survey. According to the latest S&P Global Purchasing Managers’ Index, the UAE’s PMI reached 56.9 in March, slightly lower than February’s 57.1 but well above the 50 mark denoting … Read more
RIYADH: Custom duty exemptions for a range of manufacturing products coming into Saudi Arabia are now in effect, as the Kingdom seeks to stimulate its industrial sector. Raw materials, semi-processed goods and packaging materials, as well as machinery, equipment, and spare parts, are among the items which are now levy-free. In March, the Ministry of Industry and … Read more
RIYADH: Carbon markets are set to play a pivotal role in achieving climate goals, with efforts from Saudi Arabia and the UAE, paving the way for a smooth energy transition. According to a new report from the International Energy Forum, carbon markets are capable of effectively lowering the costs associated with greenhouse gas removal by … Read more
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 22.44 points, or 0.18 percent, to close at 12,607.98. The total trading turnover of the benchmark index was SR7.35 billion ($1.96 billion) as 155 stocks advanced, while 62 retreated. Similarly, the MSCI Tadawul Index increased by 1.57 points, or 0.10 percent, to close at … Read more