RIYADH: A new premium residency visa has spurred home-ownership demand among Saudi-based expats, with 77 percent now looking to buy a property, a survey has revealed. Global property consultancy Knight Frank surveyed 241 expatriates in Saudi Arabia, and discovered the primary motivation for real estate purchasing in the Kingdom, especially among millennials, is its perceived status … Read more
RIYADH: Egypt’s currency was stable at around 49.5 pounds to the dollar as the market opened on Thursday, a day after the central bank let the currency plunge and pledged to shift to a more flexible exchange rate system as the country secured an expanded $8 billion program with the IMF. The pound stayed in the … Read more
RIYADH: Saudi Aramco’s domestic supply chain is poised for further improvement as it signed procurement agreements worth $6 billion with suppliers in the Kingdom. According to a press statement, these 40 procurement agreements were inked as a part of the company’s strategic localization program and are expected to strengthen the firm’s supply chain ecosystem and … Read more
KYIV: Ukraine’s frontline Zaporizhzhia nuclear plant is in a physically “stable” condition at the moment, the head of the United Nations nuclear energy watchdog (IAEA) said Wednesday. The plant has been at the center of fighting since it was captured by Russian forces in March 2022, and both Moscow and Kyiv have accused each other … Read more
CAIRO: The fintech sector in Saudi Arabia is increasingly drawing international attention, fueled by the nation’s strategic vision to emerge as a regional leader in this domain. In line with its national ambition, Saudi Arabia aims to become a prominent regional fintech hub, targeting the attraction of 525 financial services companies by the year 2030, as … Read more
RIYADH: The Saudi aviation industry is anticipated to create some 1.2 million job opportunities over the coming two decades to meet the “boom” in the sector, according to an aviation expert. Speaking to Arab News on the sidelines of the Saudi Airport Exhibition, held at the Riyadh International Convention and Exhibition Center, Mervat Sultan, president … Read more
RIYADH: Saudi Arabia’s National Debt Management Center concluded its riyal-denominated sukuk issuance for December at SR10.53 billion ($2.81 billion), marking an increase of 295 percent compared to the previous month. In November, Saudi Arabia’s sukuk issuance amounted to SR2.66 billion, while in October, it was SR3.98 billion. The offerings in December, with total bids received … Read more
RIYADH: Investments in the aquaculture sector between Saudi Arabia and China are poised for growth, with discussions taking place at the Global Investment Promotion Conference in Shenzhen, China. Representatives from Saudi Arabia’s Ministry of Environment, Water, and Agriculture engaged with over 60 specialized Chinese firms to explore and expand opportunities, the Saudi Press Agency reported. … Read more