Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...Business Economy Markets
Lebanon judge charges Nissan employees for allegedly stealing Ghosn documents
BEIRUT, LEBANON - A Lebanese judge has charged four Nissan employees with the theft of documents and devices from the Beirut...Business Geostrategy
Saudi Arabia teams up with China to produce UAVs in kingdom
Saudi Arabia has teamed up with China to manufacture unmanned aerial vehicle payload systems in the kingdom.The agreement was signed between Saudi Advanced Communications and Electronics Systems Co., ACES and China Electronics Technology Group
This came after the Riyadh-based telecommunication firm established a new company for unmanned aircraft in the Kingdom, under the name of Aerial Solutions
Yanbu Cement reports dip in profit
Yanbu Cement Co., one of Saudi Arabia's largest cement producers, has posted a forty three percent dip in net profit...The Jeddah-based company, apart from seeing a drop in the net profit, saw its annual revenue fall slightly from SR940 million to SR934 million year-on-year
The company attributed the dip in earnings to lower selling prices that weighed on the company's revenue.
Saudi Arabia hikes oil price as Russia-Ukraine war presses on
Saudi Arabia has hiked oil prices for all regions after the crude oil prices soared to more than $115 a...Saudi Arabia's state oil producer Aramco raised the official selling price
Aramco hiked all prices for the American customers by $1
Turkey tourism industry bemoans Russia-Ukraine war
Every Sunday Noori Sani welcomes his old friends around a bountiful Turkish breakfast in Istanbul. But surrounding him now are...Within a few days of Russia's invasion of Ukraine on February 24, Ukrainians and Russians cancelled reservations for trips of Turkey
Visitors from Ukraine and Russia made up over a quarter of all tourists who arrived in Turkey last year, tourism ministry reported
Saudi Arabia and Egypt to cooperate in telecommunications
Saudi Arabia and Egypt have signed an agreement to strengthen cooperation between the two countries in the fields of telecommunications,...The memorandum serves to work on cooperation and exchange of experiences in the field of smart cities also
It also includes agreements to coordinate joint events, and to design training programs and workshops
Inaugural session of Qatar-Nigeria Economic Forum begins
The Qatar-Nigeria Economic Forum kicked off in Lagos, the economic capital of the Federal Republic of Nigeria.The Forum aims to enhance economic cooperation and review business opportunities between the two countries
A special focus will be placed on cooperation in the fields of manufacturing, construction, oil and gas and technology
East Pipes of KSA gets $133m financing
East Pipes of Saudi Arabia has secured a Shariah-compliant working capital financing of $133 million from Bank Albilad.The capital will be used to “finance the working capital of one the company’s projects”, the Dammam-based company said in a bourse filing
East Pipes, which joined the Saudi stock exchange earlier this year, was established in 2010 and specializes in manufacturing steel pipes
World’s first robot citizen Sophia to attend Dubai audit conference
The humanoid robot Sophia, the world's first robot citizen, will arrive in Dubai on Tuesday, March 8, to participate in...Sophia will attend largest smart conference for internal auditors, the 20th Annual Regional Audit Conference from March 7- 9.
Sophia became the world's first robot citizen after Saudi Arabia granted her citizenship in October 2017.
Tadawul posts 17% jump in net profit to $157m in 2021
Tadawul Group has posted a seventeen percent jump in net profit to $157 million in 2021, according to a bourse...There was an 8 percent rise in revenue to SR1.17 billion during the year due to “solid growth in trading services, post-trade services
With strong earnings, the company’s board proposed an annual dividend payout of SR3 per share
Shurooq picks acting COO
It has appointed Ahmed Obaid Al Qaseer to the post.Al Qaseer is expected to continue the concerted efforts to achieve Shurooq’s vision of developing world-class projects
The new acting COO is also expected to bolster efforts to drive national and foreign investments into the emirate
