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
Saudi Arabia witnessing unprecedented growth in asset management industry: CMA official RIYADH: Asset management activity revenues of capital market institutions in Saudi Arabia reached SR4.2 billion ($1.12 billion) in 2023, representing a rise of 58.6 percent in four years. According to Abdullah bin Ghannam, deputy for listed companies and investment products at Saudi Arabia’s Capital … Read more
Riyadh Air and Artefact partner to build data analytics platform, develop AI solutions RIYADH: Saudi Arabia’s Riyadh Air is set to build a data analytics platform and develop artificial intelligence solutions, thanks to a strategic partnership with global consultancy firm Artefact. By implementing these new instruments, the airline can achieve hyper-personalization and enhance its guest … 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
ABIDJAN Cote d’Ivoire: Already plagued by complex internal problems, the economies of East Africa have perhaps been the most affected among regional states by the unfolding crisis in Sudan and the attacks on trade passing through the Red Sea. The conflict in Sudan between the Sudanese Armed Forces, or SAF, and paramilitary Rapid Support Forces, or … Read more
RIYADH: Oil prices on Tuesday mostly held onto gains made a day earlier amid attacks on shipping in the Red Sea that have exacerbated supply worries, according to Reuters. Brent crude futures fell 1 cent to $82.52 a barrel by 7:35 a.m Saudi time, while US West Texas Intermediate crude futures rose 1 cent to $77.59 … Read more
BRUSSELS: EU foreign ministers will meet Monday in Brussels to formally launch a naval mission to help protect international shipping in the Red Sea against attacks from Yemen’s Houthis, officials said. The Houthis, who control much of war-torn Yemen, have been attacking the vital shipping lane since November in a campaign they say is in … Read more
RIYADH: The global merger and acquisition market witnessed a 15 percent drop year-on-year to $3.2 trillion in 2023, marking its lowest level in a decade, according to recent findings. Dealmakers grappled with several obstacles, including high interest rates, increased regulatory scrutiny, and mixed macroeconomic signals, forcing them to be more selective in their pursuit of … Read more
Palestinian lives at stake, UN says as it acts quickly to address allegations about UNRWA staff NEW YORK CITY: The UN said it was taking “swift action” in response to allegations in the past few days that several employees of the UN Relief and Works Organization for Palestine Refugees in the Near East participated in … Read more
SINGAPORE: Oil prices climbed on Monday after a drone attack on US forces in Jordan added to worries over supply disruption in the Middle East as Houthi rebels stepped up their attacks on vessels in the Red Sea, hitting a Trafigura-operated fuel tanker, according to Reuters. Risks of a widening conflict comes as Russian refined … Read more