Q2 net profit fell by 18% to $637 million.
- Bulk of funds to go into a Virginia manufacturing center.
It is expected to speed up the use of yuan in trade.China's ambassador to Saudi Arabia said that it is the fruit of the continuous development of friendly relations between the two countries
With the launch of the Riyadh branch, the BOC now operates and provides financial services across 64 countries and regions worldwide
Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position...According to an IMF statement, Saudi Arabia is the fastest-growing economy among G20 countries, recording an overall growth rate of 8.7 percent
The kingdom's non-oil GDP witnessed a growth of 4.8 percent in 2022 driven by robust private consumption and investments in various sectors
International Media Investments owns and operates a portfolio of media outlets.The company said Raad "has been brought in to steer IMI and its operating assets to their next stage of development
IMI owns and operates a portfolio of media outlets, including The National, CNN Business Arabic, Al Ain News
The Asian Development Bank survey found that rising interest rates, flagging economic prospects, inflation, and geopolitical volatility reduced the capacity...With data collected from 137 banks, the survey is the world's leading barometer of trade finance health
The Russian invasion of Ukraine was seen impacting trade finance portfolios by some 60 percent banks
The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's...The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's market may hit $1bn mark this year and triple by 2030
Spearheaded by Saudi Arabia, the region's gaming renaissance reshapes the global landscape, with Gamers8 festival showcasing the region's growing influence in the sector
The deal will make it North America's largest natural gas supplier.Enbridge, which operates the world's longest petroleum pipeline system, said it is doubling its gas distribution business with the acquisitions.
The deal underscores the continued value producers are placing in natural gas even as countries strive to reduce fossil fuel dependence to curb greenhouse gas emissions.
The European Commission, the EU's powerful antitrust body, named 22 "core platform" services belonging to five US tech behemoths identified...Brussels is working through a dense legislative agenda to build tougher regulation of big tech, arguing it needs to protect European consumers online.
Observers say the law could open a new battlefront between digital titans and the European Union as some companies consider launching legal challenges.
Tehran, Iran -- Production of pick-up trucks and vans in Iran in the first five months of the current Iranian...In total, 11,436 pick-up trucks were manufactured in the country in the first five months of the current Iranian calendar year.
The number of vans produced in the country from March 21 to August 22, 2023 was 1,371, showing a 70 percent hike compared to the same period of last year.
ONE is focused on high-density LFP-based batteries.OIA and ONE signed a Strategic Collaboration Agreement (SCA) to explore potential areas of collaboration in energy storage and battery manufacturing in Oman.
ONE is focused on high-density LFP (Lithium Iron Phosphate)-based batteries, which are created from lower-cost, more abundant iron.
The bond will be used to finance eligible green assets.It was 2.9 times oversubscribed, attracting interest from a range of local, regional and international investors that placed total orders of over $1.9 billion.
As of 30th June 2023, ADCB’s eligible green loan portfolio had experienced notable year-on-year growth of 61 percent, reaching $1.65 billion, he said.
