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Bosch to cut 13,000 jobs

This is a blow to Germany's ailing car sector.

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Saudi Central Bank’s assets drop $6.39 billion in August

Suggestions and observations on the draft bill must be sent within 15 days from the date of the announcement.
By Hilal Mir
September 29, 2023 8:12 pm
  • When compared to August 2022, SAMA’s assets fell by around SAR 229.2 billion, according to data released by SAMA, Argaam reported.
  • SAMA’s investments in foreign securities, which represent nearly 56 percent of its total assets, shrank by 12 percent year-on-year (YoY) to around SAR 986.2 billion last month.

Riyadh, Saudi Arabia — Assets held by the Saudi Central Bank (SAMA) declined by SAR 24 billion ($6.39 billion) month-on-month (MoM) to SAR 1.76 trillion in August.

When compared to August 2022, SAMA’s assets fell by around SAR 229.2 billion, according to data released by SAMA, Argaam reported.

SAMA’s investments in foreign securities, which represent nearly 56 percent of its total assets, shrank by 12 percent year-on-year (YoY) to around SAR 986.2 billion last month.

Foreign currencies and gold decreased by 1.91 percent YoY to 259.27 billion, while deposits with banks abroad was the only category of assets to increase by 8.06 percent to 337.54 billion in August, from 312.35 billion in August 2022.

‘Cash in vault’ decreased by 34.58 percent YoY and ‘other miscellaneous assets’ by 41.34 percent, Argaam reported.

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