Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle.The sukuk are offered to qualified investors...Business Banking & Finance Economy Markets
Consumer products sector grows amid rising prices
The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10...Business
Grape and Seasonal Fruit Festival begins in Saudi province
The four-day Grape and Seasonal Fruit Festival began in Asir region of Saudi Arabia on Sunday. The festival will be...The festival will be attended by 35 farmers who will display the products of their own farms, such as numerous varieties of grapes.
The date of the festival coincides with the Abha Summer Festival 2022.
First grain cargo ship could leave Ukraine port Monday, says Turkey
A spokesman for the Turkish presidency said there was a "high probability" that a first ship carrying Ukrainian grain could...The resumption of exports was discussed in talks between the Turkish and Ukrainian defense ministers
A Joint Coordination Centre is charged with controlling Ukrainian grain exports via the Black Sea
Saudi Arabia, Poland sign agreement on air transport
Saudi General Authority of Civil Aviation (GACA) signed a Memorandum of Understanding (MOU) with Poland to organize the operational framework...From the Saudi side, Ali Rajab, Executive Vice President at GACA -Economic Policies & International Cooperation signed the MoU
From the Polish side, Piotr Samson, President of the Polish Civil Aviation Authority inked the pact in Warsaw
Saudi Arabia GDP climbs nearly 12% in Q2 on oil price hike
Saudi Arabia's year-on-year economic growth in the second quarter was 11.8 percent compared to the same period last year, according...Saudi Arabia's year-on-year economic growth in the second quarter was 11.8 percent compared to the same period last year
The Middle East's largest economy has benefited from a spike in oil prices triggered by Russia's invasion of Ukraine
Hamriyah Free Zone and Rafid to set up technical center
The Hamriyah Free Zone Authority (HFZA) has partnered with Rafid Automotive Solutions to establish an integrated technical center within the...The center will provide vehicle repair, maintenance, inspection, as well as registration services and roadside assistance.
The agreement will also fuel the effort by both parties to upgrade their services to investors in free zones, HFZA said.
Sheikh Hamdan bin Zayed issues directives for ADIHEX 2022
Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region and Chairman of the Emirates Falconers’ Club (EFC),...Chairman of the Emirates Falconers’ Club has issued directives for development of the strategy of Abu Dhabi International Hunting and Equestrian Exhibition
The development of ADIHEX strategy is to enhance its role in preserving UAE's cultural heritage, protecting the environment and promoting sustainable hunting
Crypto lender’s meltdown crashes dreams
An Irishman at risk of losing his farm. An American having suicidal thoughts. An 84-year-old widow's lost life savings: People...Celsius owed $4.7 billion to its users, according to a court filing earlier this month
Celsius clients reported heavy stress and feelings of deep shame for putting their money in the firm and now begging for refund
CBUAE hikes DBR of SZHP loan beneficiaries to 60%
The Central Bank of the UAE (CBUAE) has decided to increase the debt burden ratio of the beneficiaries of home...The notice included details of the CBUAE decision, in agreement with SZHP and in line with Article (5) of the Regulations Regarding Mortgage Loans, issued in 2013
The decision also stated that UAE nationals, with long-term loans, shall be provided the flexibility to obtain housing loans of SZHP
GCC ups oil supply to Japan, fulfills 94% of its demand
Saudi Arabia and the UAE have supplied around 80 percent of Japan's oil demand for the month of June, followed...Saudi Arabia provided 27.39 million barrels, an increase from the previous month of 27.10 million barrels, 27.14 million barrels came from UAE
In June, for the first time in years, there were no oil imports from Russia
Saudi handshake fuels hope for energy-hit Europe
Mohammed bin Salman's recent Europe visit after US President Joe Biden’s trip to Jeddah suggests that KSA wants to diversify...Mohammed bin Salman's recent Europe visit after US President Joe Biden’s trip to Jeddah suggests that KSA wants to diversify its partners amidst global uncertainties, say experts
Both Saudi Arabia and France want to play a crucial role in stabilization of the region. Paris, in particular, wants greater involvement of Riyadh in Lebanon
