Saudi stock market hits 12,500 points, highest since August 2020

• The increase can be attributed to the positive momentum generated by the disclosure of financial results, the majority of which met anticipated outcomes
• The gains in the Agriculture & Food, Building & Construction and Hotels & Tourism sectors also led shares higher

UAE achieves a milestone in economic diversification

• Despite a global trade decline, the UAE records significant growth in non-oil foreign trade.
• CEPA program expands UAE's trade network, enhancing market access and opportunities.

Saudi holdings of US Treasuries surge to $131.9b in December 2023

• The Kingdom maintained 16th place among the largest holders of US treasury securities for December.
• Saudi Arabia’s holdings of US Treasuries were distributed among long-term and short-term bonds.

KSA seeks to lead global sustainability drive with Alat

• Led by Saudi Crown Prince Mohammed bin Salman, Alat is poised to revolutionize the tech sector, aiming for carbon neutrality and creating thousands of jobs.
• Alat, with its seven strategic units like semiconductors and smart devices, aims to innovate in over 30 categories, from robotics to heavy equipment, serving diverse industries.

Roadmap out for environmental education, sustainable development at WEEC2024

35 Jordanian companies to participate in Gulfood 2024 in Dubai

• The Jordan Exporters Association is coordinating the country's participation in the event.
• JEA is coordinating local participation in the exhibition for the 20th consecutive time.

WTO chief insists global trade body still counts

• World Trade Organization is hoping for results from its 13th ministerial meeting in Abu Dhabi, particularly on fishing, agriculture and electronic commerce
• WTO chief said the meeting to be tough due to the "economic and political headwinds", from Ukraine war, the attacks in the Red Sea and economic difficulties in Europe and China

Saudi Arabia ranks 1st in international tourist arrivals growth in 2023

• The kingdom recorded a remarkable tourism recovery rate of 156% in international tourist arrivals in 2023 compared to 2019, the report revealed
• Saudi Arabia set a record in international tourist receipts, with total spending exceeding SAR 100 billion ($27 billion) for the first three quarters of 2023

Iran, Armenia eye $3 billion bilateral trade volume

• Grigoryan made the remarks during the 18th meeting of the Iran-Armenia Joint Economic Commission where he also described Iran as “a very important partner.”
• The 18th meeting of the Iran-Armenia Joint Economic Commission was held on February 14-15 in Tehran to further foster economic ties between the two countries

Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port

• The gateway terminal has larger capacity, is equipped with the Optical Character Recognition (OCR) feature, and uses 146 different types of equipment
• The development of Jeddah Islamic Port’s North Container Terminal is included in the Build-Operate-Transfer (BOT) contract