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Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

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UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

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Expat remittances from Saudi rise 5 percent to $3.91 bn in March

Companies that discriminate between male and female workers, whether in employment conditions or recruitment advertisements, will be subject to fines amounting to SR3,000 ($800).
By TRENDS Desk
May 4, 2022 4:19 pm
  • Saudi Arabia was the third largest source of remittances globally in 2020, just behind the UAE and the US, according to the World Bank.
  • The US was the biggest source country, sending $68 billion abroad last year, while foreign workers in the UAE sent home $43 billion.

Personal remittances of expatriates in Saudi Arabia jumped 5 percent year-on-year (YoY) to SR14.7 billion ($3.91 billion) in March.

Saudi Gazette, citing data released by the Saudi Central Bank (SAMA), said that compared to the previous month, remittances from expatriates in Saudi Arabia jumped 31 percent, or SR3.5 billion.

The remittances hit more than one-and-a half year high, since July 2020 when they reached SR15.2 billion, the report said.

Remittances by Saudi nationals to other countries rose 2 percent YoY to SR6.62 billion in March.

Saudi Arabia was the third largest source of remittances globally in 2020, just behind the UAE and the US, according to the World Bank.

The US was the biggest source country, sending $68 billion abroad last year, while foreign workers in the UAE sent home $43 billion and those in Saudi Arabia transferred $35 billion, said the report in May last year.

Among middle-income countries, immigrants to Russia were the biggest remitters, sending $17 billion.

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