Tag: Saudi

Saudi corporate lending fuels bank loans growth to near-2 year high of 12.46%

RIYADH: Saudi Arabia’s bank loans reached SR2.88 trillion ($768.93 billion) in October, a 12.46 percent annual growth and the highest in 20 months, official...

Closing Bell: Saudi main index closes in red despite $3.2bn in trade volume 

RIYADH: Saudi Arabia’s Tadawul All Share Index dropped by 0.65 percent or 77.18 points to settle at 11,787.72 points on Monday.     The total trading turnover of the benchmark index was SR12.2 billion...

Saudi stock market rises to 7th globally in size, says CMA chief

JEDDAH: The Saudi stock market has experienced significant growth, now ranking seventh globally and showcasing the resilience of the real economy, according to Mohammed...

Saudi CMA seeks feedback on foreign investment and market access reforms

RIYADH: Saudi Arabia’s Capital Market Authority is seeking to attract more foreign investments and improve market accessibility by inviting feedback on proposed amendments to...

Saudi local content projects valued at $213bn by Q3 2024, says Alkhorayef

JEDDAH: The value of projects under Saudi Arabia’s local content initiatives has reached approximately SR800 billion ($213 billion) by the third quarter of 2024,...

Saudi hotel industry sees 11.4% spending surge, amid overall weekly POS decline: SAMA

RIYADH: Spending in Saudi hotels saw a week-on-week increase of 11.4 percent between Nov. 10 and 16, reaching SR399.7 million ($106.4 million), according to the...

Saudi economic growth to accelerate to 4.7% in 2025: Moody’s

RIYADH: Saudi Arabia’s economy is set to grow by 1.7 percent this year, before accelerating to 4.7 percent in 2025 and 2026, driven by...

Saudi PIF raises over $1bn with 2% stc stake sale 

Following the sale, PIF retains a 62 percent ownership in stc, equivalent to 3.1 billion shares The sale aligns with PIF’s broader strategy to recycle...

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Indian agentic AI startup Gushwork raises $9 million to expand engineering teams

Gushwork, an agentic AI startup raised a $9 million...

Nvidia forecasts upbeat sales on AI chip demand, talks up long-term prospects 

SAN FRANCISCO: Chipmaker Nvidia forecast first-quarter revenue above market estimates...

IIT Madras alumnus-founded deeptech startup Tattvam AI raises $1.7 million in funding

Tattvam AI, a deeptech startup building AI systems to...