Asian markets up, Tokyo hits record as US tech earnings jump
Hong Kong, China - Asian markets rose on Thursday, with Tokyo's benchmark index posting a record high after greater-than-expected earnings from...Business
Saudi digital payments go up, represent 94% of all trades
The study highlighted how the government sector in the kingdom has almost completely converted to electronic payment methods for all...The use of electronic payments increased to 62 percent last year from 44 percent in 2019 across all areas of economic activities
When it comes to the business sector, the share of electronic payments reached a substantial 84 percent of all business payments in 2021, up from 51 percent in 2019
Saudi economy, GDP see upswing in H1 2022
Real GDP increased at a growth rate of 11.8% in Q2 2022, driven by the significant increase in oil activities...The report says Saudi Arabia's economy and GDP are on an upswing due to several factors
Even the World Economic Outlook July 2022 projected the Kingdom to record highest GDP growth among G20 countries.
Halwani Bros’ profit falls by 65%
The profit fell to $5m in HI due to rising cost of raw materials.The food company said the devaluation of the Egyptian currency also weighed on profits from its subsidiary in Egypt
The rising raw material costs and increased marketing costs due to global inflation were also responsible for weaker financial results
Saudi Arabia’s Kingdom Holding to invest $3.4bn in next 3 years
The company completed its earlier investment program during the period between the second quarter of 2020 and Q2 2022.The company completed its earlier investment program during the period between the second quarter of 2020 and Q2 2022
It invested in diverse sectors with a proven track-record of growth and strong financial position
Sharjah unveils ‘Holiday Homes Project’ to boost economy
The first phase of the project includes organizing field visits and inspection campaigns, as well as electronic or digital follow-up...SCTDA has mandated that the residential units be rented out on a rotational basis, regularly.
The project will also empower prospective users with a new source of income recognized by the Government of Sharjah
Clean beauty sector grows, so are greenwashing risks
In a positive development, the cosmetic industry at large is becoming greener. Approaches, however, are not always uniform or holistic...In a positive development, the cosmetic industry at large is becoming greener. Approaches, however, are not always uniform or holistic across the board, say experts
Greenwashing generates skepticism in consumer mind when they find out that something they thought was true is not, add industry players
Sanction partners: Iran’s top automaker eyes Russian market
Russia has come under increasingly tough sanctions since its February invasion of Ukraine, while Iran has faced stringent sanctions reimposed...The two countries have responded to the sanctions by boosting cooperation in key areas to help prop up their economies.
"We are going to pay special attention to the Russian market, and we are also thinking of partnering with Russian investors," said Iran Khodro CEO Mehdi Khatibi.
GIG H1 net profit $48.9 million
Improvement in underwriting and investment push profits up.The company said the rise in net profit was due to the improvement in the Group’s underwriting and investment performance compared to the same period last year.
The total assets for the first half of the current year reached KD 1.34 billion, compared to KD 0.8 billion, an increase of 67.3 percent.
In Dubai 305m riders use public transport in H1 2022
Dubai’s Roads and Transport Authority (RTA) announced that the number of riders using public transport and shared mobility clocked nearly...The number of riders using public transport was 36 percent for Dubai Metro and 29 percent for taxis
March 2022 was the busiest of all months recording 62 million riders
Electronic payments overtake cash in Saudi Arabia in 2021
The Saudi Central Bank (SAMA) said a study revealed that electronic payments increased from 44 percent in 2019 to 62...The Saudi Central Bank said a study revealed that electronic payments increased from 44 percent in 2019 to 62 percent by volume in 2021
In the business sector, the share of electronic payments reached a substantial 84 percent of all payments in 2021
