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 […]
RIYADH – The International Monetary Fund (IMF) confirmed that the Kingdom has been one of the best performing G20 economies in recent years and has supported the global economy through its stabilizing role in the global oil market. The IMF also pointed out to the positive outlook of the Saudi economy which grew by 5.1 percent […]
The value of Saudi Arabia exports of nonoil commodities for the first quarter (Q1) of the current year 2013, reached SR 46.84 billion, compared to SR 47.84 billion, or a decrease of 2.1 percent, according to the Central Department of Statistics and Information (CDSI). The CDSI report stated that petrochemicals topped the list of Saudi […]
Saudi banking experts here say that the Kingdom has the safest banking system in the Arab world. This comes in response to CNBC Arabia reporting earlier this week that the Kingdom recorded 5,000 fraud cases out of 1.3 million ATM cash withdrawals recently. The experts say that the security of the Saudi banking system and […]
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 […]
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 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 […]
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, […]
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 […]