DEWA okays $843m in H2 2024 dividend
DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.Company News Business
Deepfakes can clone your voice in 5 seconds, tech firms mount defense
Las Vegas, United States -- Tech firms are fighting the scourge of deepfakes, those deceptively realistic voices or videos used...Technology Business Geostrategy
China announces 25 measures to aid private businesses
Beijing, China - China's central bank and several government agencies unveiled 25 new measures Monday to support private economy.These initiatives...These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the private sector
These initiatives aim to diversify financial avenues for private businesses, marking a continued effort to bolster the sector crucial for the country's economic progress.
Diamond industry adopts tracking as Russia sanctions loom
Antwerp, Belgium - As European capitals prepare to implement long-awaited sanctions on Russia's diamond exports, Belgian traders are bracing for new...Russian stones accounted for around a third of the global market before its Ukraine invasion, and G7's decision to ban trade in them could have broad repercussions
The European Union is drawing up bans on Russian diamonds as part of its 12th package of sanctions to tighten the vice on Moscow's war economy and cut off its funds
Foxconn to invest $1.54bn more in India
The firm announced in May to purchase land for $37 million in India.Chairman Young Liu had said during an earnings call in August that the company saw the potential to invest "several billion dollars" in India
The company is planning to expand its India operations to "critical components" for consumer electronics and electric vehicles to boost its competitiveness
It’s official: Saudi Arabia will host World Expo 2030
The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness,...The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness, and global connectivity.
This monumental global event in Riyadh will showcase Saudi Arabia's transformation and commitment to a forward-looking and sustainable future.
Abha Valley has potential to be a tourist destination
ABHA, SAUDI ARABIA - Extending over 34 kilometers, the Abha Valley Basin enjoys a variety of wildlife aspects, civilizational features...The Abha Valley abounds in environmental diversity, which explains its array of mountain plants.
The rugged areas of the highest point of the valley form the right habitat for the Arab tiger,
SNB Capital ignites Saudi derivatives revolution
SNB Capital's Single Stock Options debut marks a leap forward, enhancing liquidity and expanding investor choices.Tadawul transforms from a derivatives novice to a major player with diverse instruments, attracting global investors.
Launching Single Stock Options amplifies market liquidity, providing new investment avenues, and managing risks effectively.
Ooredoo, QNBN sign agreement
The two companies will jointly develop Doha Port.The agreement represents a strategic partnership and reflects a commitment to driving innovation to build a more connected Qatar.
Qatar National Broadband Network was established to implement the highest global standards in evolving telecommunication infrastructure.
Egypt jumps to third place in Offshore BPO Confidence Index
Cairo, Egypt -- Egypt's global prominence received a boost as it jumped from 11th to third place in the 2023...Egypt's BPO industry demonstrated steady growth, with digital exports increasing from $4.5 billion in 2022 to $4.9 billion in 2023.
The country targets doubling export revenue to $9 billion by 2026, creating over 200,000 direct job opportunities.
Saudi PIF secures $5 billion financing in collaboration with K-SURE
Riyadh, Saudi Arabia -- The Public Investment Fund (PIF) and Korea Trade Insurance Corporation (K-SURE) have announced the signing of...The collaboration stems from a memorandum of understanding signed in March 2022 between PIF and K-SURE.
The transaction will mark PIF’s first financing covered by an export credit agency, as it continues to diversify its sources of funding.
Saudi banks see moderate improvement in margins in Q3: report
Riyadh, Saudi Arabia - Operating income of Saudi banks increased by 2.9 percent QoQ, majorly due to net-interest income (NII)...Top 10 lenders demonstrate resilience with a 2.9 percent quarter-on quarter (QoQ) increase in operating income, fueled by robust net interest income growth
Moderated credit growth is anticipated in Q4’2023, underscoring a positive economic outlook, driven by non-oil sectors and sustained government spending
