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ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

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

Bulk of funds to go into a Virginia manufacturing center.

Saudi foreign reserve assets decrease by 2% to $431bn in Feb

On a yearly basis, the Kingdom’s foreign reserve assets plunged 5 percent, or SAR 78.2 billion. (SAMA)
By TRENDS Desk
March 12, 2024 4:41 pm
  • On a yearly basis, the Kingdom’s foreign reserve assets plunged 5 percent, or SAR 78.2 billion, Argaam reported, citing Saudi Central Bank (SAMA) data.
  • Foreign currency reserves, representing about 94 percent of total assets, fell by nearly 5 percent year-on-year (YoY) in February to SAR 1.526 trillion.

Riyadh, Saudi Arabia — Saudi Arabia’s international reserve assets decreased by SAR 26.98 billion, or 2 percent, to SAR 1.619 trillion ($431.65 billion) in February 2024, compared to the previous month.

On a yearly basis, the Kingdom’s foreign reserve assets plunged 5 percent, or SAR 78.2 billion, Argaam reported, citing Saudi Central Bank (SAMA) data.

Saudi Arabia’s reserve assets include investments in foreign securities, foreign cash and deposits, reserve position in the International Monetary Fund (IMF), special drawing rights (SDRs), and monetary gold.

Foreign currency reserves, representing about 94 percent of total assets, fell by nearly 5 percent year-on-year (YoY) in February to SAR 1.526 trillion.

Moreover, IMF reserves dropped 9 percent YoY (to SAR 13.6 billion), while special drawing rights (SDRs) were down by 1 percent (to SAR 77.9 billion).

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