Tag Archives : finance

Growth opportunities seen in Gulf as world trade shifts to emerging markets

JEDDAH – Islamic trade finance in its current state is still a small sector compared to global trade finance industry as a whole, a report issued by KFH -Research, a subsidiary of Kuwait Finance House KFHabout international Islamic trade finance “Reality and Growth Opportunities” said. However, the strong capabilities for commercial growth of the countries of the Organization of […]

Total assets of ‘Top 100’ Saudi firms rise 35% to SR 3.1 trillion

Total assets of ‘Top 100’ Saudi companies rose by 35 percent from SR 2.29 trillion in 2009 to SR 3.1 trillion in 2013, Al-Eqtisadiah business daily reported yesterday in its annual supplement on Top 100 Saudi companies. The report showed the turnover of companies rising by 40 percent from SR 484 billion in 2009 to […]

SAR100m firm to expand Saudi farm investments

Commerce and Industry Minister Tawfiq Al-Rabiah has approved the establishment of a new East Asia Agricultural Development and Investment Company with a capital of SR 100 million. The new company is based in Riyadh as a closed joint stock entity and 70 percent of its capital has already been paid up by its founding members. […]

Saudi Arabia can maintain current spending

Saudi Arabia is able to maintain its current level of government spending in the medium term and beyond, Finance Minister Ibrahim Al-Assaf said yesterday. Asked whether strong growth in government spending was sustainable, Al-Assaf told reporters: “We have the … ability to continue this scale of spending. “We have the reserves, as well as we […]

Private sector needed to address MENA affordable housing crisis

MENA regional governments need to engage the private sector to help address the growing crisis of affordable housing, said Ernst & Young ‘s report “The growing crisis of affordable housing in MENA”. Despite many MENA nations’ commendable efforts so far, the supply of affordable housing is falling far short of demand, and demand is rising. The report, […]

Rising Gulf spending

Saudi Arabia, which recently unveiled an expansionary budget for 2013 with public spending of USD219-billion is stepping on the gas to meet rising infrastructure needs. “Budgeted capital spending is 28% higher than in 2012, though the government has struggled to achieve its capital spending targets in recent years,” said Fitch ratings agency in a note. “Education […]