/main-category/finance en /node/2584190/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nirmal-narayanan">Nirmal Narayanan</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2024-12-24 19:41</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ’s National Debt Management Center has successfully concluded its riyal-denominated sukuk issuance for December, raising SR11.59 billion ($3.09 billion).</p> <p> This marks a substantial 239.88 percent increase from the previous month, when the Kingdom raised SR3.41 billion in sukuk. ¶¶Òõ¶ÌÊÓƵ had raised SR7.83 billion in October and SR2.6 billion in September.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/24/4557695-878310823.jpg" width="998" height="665" alt="Sukuk, which are Shariah-compliant Islamic bonds, provide investors with partial ownership of the issuer’s assets until the bonds mature. The rise in sukuk issuance aligns with positive global market projections. File" title="Sukuk, which are Shariah-compliant Islamic bonds, provide investors with partial ownership of the issuer’s assets until the bonds mature. The rise in sukuk issuance aligns with positive global market projections. File" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/ndmc">NDMC</a></div><div class="field-item odd"><a href="/tags/sukuk">Sukuk</a></div></div></div> Tue, 24 Dec 2024 16:43:24 +0000 shahrukh.jamshed 2584190 at /node/2584178/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nirmal-narayanan">Nirmal Narayanan</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2024-12-24 16:31</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ’s Tadawul All Share Index slipped on Tuesday, as it shed 34.84 points, or 0.29 percent, to close at 11,913.95. </p> <p> The Kingdom’s parallel market also dropped by 0.11 percent to 30,920.40, while the MSCI Tadawul Index shed 3.17 points to close at 1,496.90. </p> <p> The total trading turnover of the benchmark index was SR3.83 billion ($1.02 billion), with 64 of the listed stocks advancing, while 168 declining. </p> <p> The best-performing stock of the day was Al-Baha Investment and Development Co., as its share price surged by 9.09 percent to SR0.48. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/24/4557663-1398229311.jpg" width="1000" height="527" alt="" title="The total trading turnover of the benchmark index was SR3.83 billion ($1.02 billion), with 64 of the listed stocks advancing, while 168 declining. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/saudi-arabia">¶¶Òõ¶ÌÊÓƵ</a></div><div class="field-item odd"><a href="/category/tags/tadawul">Tadawul</a></div><div class="field-item even"><a href="/tags/tasi">TASI</a></div><div class="field-item odd"><a href="/tags/msci-tadawul-index">MSCI Tadawul Index</a></div><div class="field-item even"><a href="/tags/nomu">NOMU</a></div><div class="field-item odd"><a href="/tags/saudi-stock-market">Saudi stock market</a></div><div class="field-item even"><a href="/tags/saudi-stock-exchange-tadawul">Saudi Stock Exchange (Tadawul)</a></div><div class="field-item odd"><a href="/tags/closing-bell">Closing Bell</a></div><div class="field-item even"><a href="/tags/tadawul-all-share-index-tasi">Tadawul All Share Index (TASI)</a></div></div></div> Tue, 24 Dec 2024 13:39:49 +0000 sarah.glubb 2584178 at /node/2584159/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri%C2%A0">Nour El-Shaeri </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2024-12-24 13:38</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: The UAE economy is expected to grow by 4 percent in 2024, driven by robust performance across key non-oil sectors, according to official projections. </p> <p> The Central Bank of the UAE’s Quarterly Economic Review for December indicates that growth will be supported by sectors including tourism, transportation and financial services, as well as insurance, construction, real estate, and communications. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/24/4557620-67185956.png" width="735" height="404" alt="" title="The report attributed this growth to strategic government policies aimed at attracting foreign investment. File/Getty" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/central-bank-uae">Central Bank of the UAE</a></div><div class="field-item odd"><a href="/tags/uae-economy">UAE economy</a></div><div class="field-item even"><a href="/category/tags/uae">UAE</a></div></div></div> Tue, 24 Dec 2024 10:45:46 +0000 owen.bennett 2584159 at /node/2584152/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nirmal-narayanan%C2%A0">Nirmal Narayanan </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2024-12-24 12:48</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Saudi Aramco’s robust financial standing has been reaffirmed by Moody’s and Fitch, with the agencies assigning strong ratings to the energy giant’s newly established $10 billion US Commercial Paper Program.</p> <p> Moody’s assigned a Prime-1 short-term issuer rating to the energy giant and reaffirmed its Aa3 long-term issuer rating with a stable outlook, reflecting the company’s ability to meet financial obligations. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/24/4557602-1756846159.jpg" width="1000" height="603" alt="" title="Aramco has established a $10 billion US Commercial Paper Program to issue notes with maturities of up to 270 days. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/aramco-0">Aramco</a></div><div class="field-item odd"><a href="/tags/fitch-ratings">Fitch Ratings</a></div><div class="field-item even"><a href="/tags/moodys">Moody&#039;s</a></div></div></div> Tue, 24 Dec 2024 09:59:15 +0000 owen.bennett 2584152 at /node/2584137/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri%C2%A0%C2%A0">Nour El-Shaeri  </a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Tue, 2024-12-24 09:49</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Trading activity across Arab financial markets surged in November, with volumes jumping nearly 60 percent, driven by strong performance in Iraq and other regional exchanges, a new report showed.  </p> <p> In its latest monthly analysis, the Arab Monetary Fund reported that the Iraq Stock Exchange led the way with a 131.24 percent surge in trading volumes, followed by the Beirut Stock Exchange, which recorded an 87.83 percent increase. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/24/4557553-1766778325.jpg" width="1000" height="623" alt="" title="In its latest monthly analysis, the Arab Monetary Fund reported that the Iraq Stock Exchange led the way with a 131.24 percent surge in trading volumes. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/arab-monetary-fund">Arab Monetary Fund</a></div><div class="field-item odd"><a href="/tags/stock-exchanges">stock exchanges</a></div><div class="field-item even"><a href="/tags/arab">ARab</a></div></div></div> Tue, 24 Dec 2024 06:53:42 +0000 ameen.syed 2584137 at /node/2584065/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri%C2%A0%C2%A0%C2%A0">NOUR EL-SHAERI   </a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2024-12-23 17:14</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ’s Tadawul All Share Index increased by 0.84 percent or 99.42 points to reach 11,948.79 points on Monday. </p> <p> The total trading turnover of the benchmark index was SR4.9 billion ($1.3 billion), as 111 of the listed stocks advanced, while 117 retreated. </p> <p> The MSCI Tadawul Index also increased by 15.52 points, or 1.05 percent, to close at 1,500.07. </p> <p> The Kingdom’s parallel market Nomu dropped, losing 285.18 points, or 0.91 percent, to close at 30,953.11 points. This comes as 32 of the listed stocks advanced while 51 retreated. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/23/4557352-372131766.jpg" width="1000" height="527" alt="" title="The total trading turnover of the benchmark index was SR4.9 billion ($1.3 billion), as 111 of the listed stocks advanced, while 117 retreated. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/saudi-arabia">¶¶Òõ¶ÌÊÓƵ</a></div><div class="field-item odd"><a href="/tags/tadawul-all-share-index-tasi">Tadawul All Share Index (TASI)</a></div><div class="field-item even"><a href="/tags/closing-bell">Closing Bell</a></div><div class="field-item odd"><a href="/tags/msci-tadawul-index">MSCI Tadawul Index</a></div><div class="field-item even"><a href="/tags/nomu">NOMU</a></div><div class="field-item odd"><a href="/category/tags/tadawul">Tadawul</a></div><div class="field-item even"><a href="/tags/tasi">TASI</a></div><div class="field-item odd"><a href="/tags/saudi-stock-market">Saudi stock market</a></div><div class="field-item even"><a href="/tags/saudi-stock-exchange-tadawul">Saudi Stock Exchange (Tadawul)</a></div></div></div> Mon, 23 Dec 2024 14:22:58 +0000 sarah.glubb 2584065 at /node/2584049/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/dayan-abou-tine%C2%A0">Dayan Abou Tine </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Mon, 2024-12-23 13:29</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: Saudi banks’ aggregate profit reached SR7.7 billion ($2.05 billion) in October, marking a 23.67 percent year-on-year increase, newly released data has revealed. </p> <p> According to the Saudi Central Bank, also known as SAMA, these figures represent profits before zakat and taxes. </p> <p> Cumulatively, from the beginning of the year to the end of October, banks recorded a total profit of SR73.28 billion, compared to SR64.47 billion during the same period last year. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/23/4557307-1143350052.jpg" width="1000" height="665" alt="" title="The increase in banks’ profits is primarily attributed to a combination of favorable factors that highlight the sector’s strength and ability to adapt. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/saudi-banks">Saudi banks</a></div><div class="field-item odd"><a href="/tags/saudi-central-bank-sama">Saudi Central Bank (SAMA)</a></div></div></div> Mon, 23 Dec 2024 10:56:36 +0000 owen.bennett 2584049 at /node/2583966/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/reem-walid%C2%A0">REEM WALID </a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2024-12-22 17:08</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ’s Tadawul All Share Index slipped on Sunday, losing 43.07 points, or 0.36 percent, to close at 11,849.37.</p> <p> The total trading turnover of the benchmark index was SR4.14 billion ($1.1 million), as 84 of the stocks advanced and 137 retreated. </p> <p> The Kingdom’s parallel market Nomu lost 205.92 points, or 0.65 percent, to close at 31,238.29. This comes as 37 of the listed stocks advanced while 49 retreated. </p> <p> The MSCI Tadawul Index also lost 4.86 points, or 0.33 percent, to close at 1,484.56. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/22/4557072-1073570935.jpeg" width="1500" height="953" alt="" title="The total trading turnover of the benchmark index was SR4.14 billion ($1.1 million), as 84 of the stocks advanced and 137 retreated. File/SPA" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/closing-bell">Closing Bell</a></div><div class="field-item odd"><a href="/category/tags/tadawul">Tadawul</a></div><div class="field-item even"><a href="/tags/msci-tadawul-index">MSCI Tadawul Index</a></div><div class="field-item odd"><a href="/tags/tasi">TASI</a></div><div class="field-item even"><a href="/tags/saudi-stock-exchange-tadawul">Saudi Stock Exchange (Tadawul)</a></div><div class="field-item odd"><a href="/tags/saudi-stock-market">Saudi stock market</a></div><div class="field-item even"><a href="/tags/tadawul-all-share-index-tasi">Tadawul All Share Index (TASI)</a></div></div></div> Sun, 22 Dec 2024 14:57:30 +0000 sarah.glubb 2583966 at /node/2583941/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nadin-hassan">Nadin Hassan</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2024-12-22 13:27</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ plans to establish specialized courts to address investment disputes, enhance market confidence, and support its Vision 2030 strategy of becoming a global business hub. </p> <p> The initiative, revealed through a survey conducted by the Ministry of Investment and shared with the Federation of Saudi Chambers, is aimed at evaluating the need for such judicial bodies across key sectors, Al Arabiya reported. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/22/4557020-431979323.jpg" width="1000" height="666" alt="" title="These courts are expected to bolster trust in the Kingdom’s legal framework, aligning with its broader legislative and judicial reforms designed to accelerate progress under Vision 2030. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/saudi">Saudi</a></div><div class="field-item odd"><a href="/tags/investment">Investment</a></div></div></div> Sun, 22 Dec 2024 10:33:37 +0000 ameen.syed 2583941 at /node/2583938/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri-0">Nour El-Shaeri</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2024-12-22 12:56</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: The UAE’s Abu Dhabi Ports Group has successfully refinanced and more than doubled its revolving credit facility from $1 billion to $2.13 billion. The move extends the facility’s maturity from 2026 to 2028, with an option for further extension until 2030.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/22/4557013-935296584.jpg" width="1024" height="533" alt="This expansion is aimed at optimizing financing costs by improving interest margins and securing long-term liquidity. File" title="This expansion is aimed at optimizing financing costs by improving interest margins and securing long-term liquidity. File" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/uae">UAE</a></div><div class="field-item odd"><a href="/tags/abu-dhabi-port">Abu Dhabi port</a></div><div class="field-item even"><a href="/tags/credit">credit</a></div></div></div> Sun, 22 Dec 2024 09:58:13 +0000 shahrukh.jamshed 2583938 at /node/2583936/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nirmal-narayanan">Nirmal Narayanan</a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2024-12-22 12:22</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ is poised to account for the largest share of bond maturities in the Gulf Cooperation Council region from 2025 to 2029, with a projected total of $168 billion, according to a recent analysis by Kamco Invest.</p> <p> The Kuwait-based financial firm’s report highlights that most of these maturities will come from bonds and sukuk issued by the Saudi government, which is expected to reach $110.2 billion over the five-year period.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/22/4557004-1298495497.jpg" width="1200" height="801" alt="The Kuwait-based financial firm’s report highlights that most of these maturities will come from bonds and sukuk issued by the Saudi government, which is expected to reach $110.2 billion over the five-year period. File" title="The Kuwait-based financial firm’s report highlights that most of these maturities will come from bonds and sukuk issued by the Saudi government, which is expected to reach $110.2 billion over the five-year period. File" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/bonds">bonds</a></div><div class="field-item odd"><a href="/tags/sukuk">Sukuk</a></div><div class="field-item even"><a href="/category/tags/gcc">GCC</a></div></div></div> Sun, 22 Dec 2024 09:24:53 +0000 shahrukh.jamshed 2583936 at /node/2583930/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/miguel-hadchity%C2%A0">MIGUEL HADCHITY </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Sun, 2024-12-22 11:18</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: The UAE and Hong Kong are set to deepen ties in cross-border debt securities issuance and investment after their central banks signed a memorandum of understanding to enhance connectivity between their financial markets. </p> <p> The Central Bank of the UAE and the Hong Kong Monetary Authority formalized the agreement during a bilateral meeting in Hong Kong on Dec. 20, targeting closer integration of their debt capital markets and related financial infrastructures.  </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/22/4556988-769946497.jpg" width="2309" height="1636" alt="" title=" ChatGPT said: ChatGPT HKMA Chief Executive Eddie Yue (right) and CBUAE Governor Khaled Mohamed Balama (left) sign a MoU to promote debt capital market collaboration. Supplied" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/uae">UAE</a></div><div class="field-item odd"><a href="/tags/hongkong">hongkong</a></div><div class="field-item even"><a href="/tags/investment">Investment</a></div><div class="field-item odd"><a href="/tags/finance">Finance</a></div></div></div> Sun, 22 Dec 2024 08:26:30 +0000 ameen.syed 2583930 at /node/2583642/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/reem-walid">Reem Walid</a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2024-12-19 17:06</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ played a pivotal role in driving a 44 percent increase in e-commerce orders across the Middle East and North Africa region during the 2024 festive season, according to a joint study by Flowwow and Admitad.</p> <p> The surge was fueled by trends in mobile shopping, cultural celebrations, and gifting. ¶¶Òõ¶ÌÊÓƵ led the way in mobile commerce adoption, with 62 percent of online purchases made via mobile devices.</p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/19/4556212-393358335.jpg" width="5000" height="3333" alt="¶¶Òõ¶ÌÊÓƵ led the way in mobile commerce adoption, with 62 percent of online purchases made via mobile devices. File" title="¶¶Òõ¶ÌÊÓƵ led the way in mobile commerce adoption, with 62 percent of online purchases made via mobile devices. File" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/category/tags/saudi-arabia">¶¶Òõ¶ÌÊÓƵ</a></div><div class="field-item odd"><a href="/tags/mena">MENA</a></div><div class="field-item even"><a href="/tags/ecommerce">ecommerce</a></div></div></div> Thu, 19 Dec 2024 14:17:55 +0000 shahrukh.jamshed 2583642 at /node/2583639/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/nour-el-shaeri%C2%A0">Nour El-Shaeri </a></div></div></div><div class="field field-name-field-author field-type-text field-label-inline clearfix"><div class="field-label">Author:&nbsp;</div><div class="field-items"><div class="field-item even"></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2024-12-19 16:28</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ’s Tadawul All Share Index closed in red on Thursday, losing 68.61 points, or 0.57 percent, to settle at 11,892.44. </p> <p> The total trading turnover of the benchmark index was SR10.9 billion ($2.9 billion), as 51 of the listed stocks advanced, while 185 retreated.  </p> <p> The MSCI Tadawul Index also decreased by 8.95 points, or 0.60 percent, to close at 1,489.42. </p> <p> The Kingdom’s parallel market Nomu gained 247.96 points, or 0.79 percent, to close at 31,444.21. This comes as 33 of the listed stocks advanced, while 49 retreated. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/19/4556203-592445536.jpg" width="1000" height="706" alt="" title="The total trading turnover of the benchmark index was SR10.9 billion ($2.9 billion). Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/closing-bell">Closing Bell</a></div><div class="field-item odd"><a href="/tags/saudi-stock-exchange-tadawul">Saudi Stock Exchange (Tadawul)</a></div><div class="field-item even"><a href="/tags/tadawul-all-share-index-tasi">Tadawul All Share Index (TASI)</a></div></div></div> Thu, 19 Dec 2024 13:35:55 +0000 owen.bennett 2583639 at /node/2583599/business-economy <div class="field field-name-field-rbitem-author field-type-taxonomy-term-reference field-label-above"><div class="field-label">article author:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/article-authors/miguel-hadchity%C2%A0">MIGUEL HADCHITY </a></div></div></div><div class="field field-name-field-publication-date field-type-datestamp field-label-hidden"><div class="field-items"><div class="field-item even"><span class="date-display-single">Thu, 2024-12-19 09:23</span></div></div></div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="field-items"><div class="field-item even"><p> RIYADH: ¶¶Òõ¶ÌÊÓƵ’s central bank lowered its benchmark interest rate to 5 percent, its third cut this year, aligning with the US Federal Reserve’s decision to reduce rates by 25 basis points. </p> <p> The institution, also known as SAMA, cut its repurchase agreement rate to 5 percent and the reverse repurchase agreement rate to 4.5 percent, it said in a statement. The move is aimed at maintaining monetary stability amid shifting global economic conditions. </p></div></div></div><div class="field field-name-field-binary field-type-image field-label-hidden"><div class="field-items"><div class="field-item even"><img src="/sites/default/files/2024/12/19/4556113-1221099517.jpg" width="1000" height="667" alt="" title="The reduction follows a more aggressive 50-basis-point cut in September and reflects a recalibration of policy as inflationary pressures ease. Shutterstock" /></div></div></div><div class="field field-name-taxonomy-vocabulary-1 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Main category:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/economy">Business &amp; Economy</a></div><div class="field-item odd"><a href="/main-category/finance">Finance</a></div></div></div><div class="field field-name-taxonomy-vocabulary-9 field-type-taxonomy-term-reference field-label-above"><div class="field-label">Tags:&nbsp;</div><div class="field-items"><div class="field-item even"><a href="/tags/us-fed">US Fed</a></div><div class="field-item odd"><a href="/tags/inflation">Inflation</a></div><div class="field-item even"><a href="/tags/saudi-central-bank">saudi central bank</a></div></div></div> Thu, 19 Dec 2024 06:31:14 +0000 ameen.syed 2583599 at