Asian markets swing as traders assess latest tariffs volley
Asian markets were mixed Wednesday after President Donald Trump broadened his tariff threats, while traders were also assessing the geopolitical...Business
Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...Business Economy
Red Sea Global, Riyad Bank sign agreement on $522m financing
TABUK, SAUDI ARABIA - Red Sea Global (RSG) has completed a US$522 million (SAR2 billion) financing agreement with Riyad Bank,...Red Sea Global will develop the highly anticipated Four Seasons Resort at The Red Sea destination.
The Four Seasons Resort, situated on Shura Island, is set to be a luxury property offering 159 exquisite guest rooms.
MODON attracts US$34m investment to develop military industry in Saudi Arabia
RIYADH, SAUDI ARABIA - The Saudi Authority for Industrial Cities and Technology Zones (MODON) has attracted new investments worth US$34...This will be used to localize military aircraft industries, including drones and provide repair, maintenance and overhaul services for ships.
Securing such capital is one of the authority's objectives and seeks to promote investment opportunities in industrial cities.
Bezos sells $2bn Amazon shares
He reportedly intends to sell, next July, 50 million shares of the group.Bezos sold on Wednesday and Thursday some 12 million Amazon shares, at between $168-171 per share.
A previous stock market document, out Wednesday, reported his intention to sell, next July, 50 million Amazon shares.
Nissan profit drops to US$195m
Its sales in China slumped 35% from April to December.The automaker said its profit was $195 million in the last quarter, down from $341 million a year earlier
Its quarterly sales jumped nearly 10% to 3.1 trillion yen ($21 billion) for the maker of the Leaf electric car
ESG 2023 net profit at US$187m
The firm posted a year-on-year net profit rise of 316 percent.ESG’s total assets witnessed a massive rise, standing at US$833 million.
This is a significant 168 percent growth compared to December 2022.
Economic forum in Amman to enhance trade ties between Iraq, Jordan
AMMAN, JORDAN - The Iraqi Business Council, in collaboration with the Jordanian and Amman Chambers of Industry, is set to...This event aims to enhance financial, industrial and commercial partnerships among Iraq, Jordan and other countries in the region.
The event will spotlight the myriad of investment, commercial and industrial opportunities available in Jordan and Iraq.
Jordan, Tunisia to enhance trade, investment relations
AMMAN, JORDAN - The Chairman of the Amman Chamber of Commerce Khalil Haj Tawfiq has called on Jordanian and Tunisian...The trade between the two nations has seen significant growth over the past two years, with a notable balance in exports and imports.
Trade volume over the last 10 months reached US$30 million, equally distributed between Jordan and Tunisia.
Polestar 3, the electric SUV, hits the streets of the UAE
Dubai, UAE – Al-Futtaim Electric Mobility Company, the official distributor of Polestar in the UAE, have announced the official launch...Featuring a unique design language inspired by Polestar Precept and Scandinavian minimalism, Polestar 3 is a fully electric 5-seat luxury SUV
Polestar 3 is available at launch with a dual-motor configuration with a power bias towards the rear, and an optional Performance Pack for increased power and torque
61 contracts worth $7billion signed at World Defense Show in Riyadh
Riyadh, Saudi Arabia - About 61 purchase contracts totaling approximately SR26 billion ($6.93 billion) were signed at the second World...The event, featuring 773 exhibitors and hosting 441 official delegations from 116 countries, attracted 106,000 visitors
Throughout the show, a total of 73 agreements were finalized, including 17 industrial partnership agreements
At 10% growth, Saudi banking sector shows resilience
With Vision 2030 steering the economic diversification, Saudi banks face challenges and opportunities in liquidity, asset quality, and navigating geopolitical...With Vision 2030 steering the economic diversification, Saudi banks face challenges and opportunities in liquidity, asset quality, and navigating geopolitical risks.
The sector's commitment to sustainability and strategic risk management promises a future of stability and growth, highlights the latest insights from S&P Global.
