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1 December 01:03 PM Saudi Arabia's 1st Future Minerals Summit to kick off next month
Riyadh – Mubasher: Saudi Arabia will debut its first-ever Future Minerals Summit during 11-13 January 2022 in the capital Riyadh, the Ministry of Industry and Mineral Resources announced on Wednesday. A ministerial roundtable before the summit …
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30 November 06:15 PM Saudi Arabia forms authority for sustainable development of Red Sea economy
Riyadh- Mubasher: Saudi Arabia’s Council of Ministers approved the regulatory arrangements of the Saudi Red Sea Authority (SRSA), which will be responsible for enabling the sustainable development of the Red Sea economy for the Kingdom.  SRSA will …
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30 November 03:10 PM No cases of Omicron variant detected in Egypt – Official
Cairo – Mubasher: Egypt has not registered any cases of the Omicron variant until the current times, Acting Minister of Health, Khaled Abdel Ghaffar, who is the Minister of Higher Education and Scientific Research, stated on Tuesday. Abdel Ghaffar …
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29 November 05:56 PM Saudi insurance firms’ solvency margin leaps 177% in Q3 – SAMA
Riyadh – Mubasher: The solvency margin rate of Saudi insurance companies has surged by 177.2% year-on-year (YoY) during the third quarter (Q3) of 2021, according to a report by the Saudi Central Bank (SAMA). The insurance sector registered …
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29 November 02:21 PM SEC’s subsidiary to be wholly owned by Saudi government
Riyadh – Mubasher: The ownership of the Saudi Power Procurement Company, a subsidiary of the Saudi Electricity Company (SEC), will be transferred to the Saudi government upon a Cabinet’s resolution. Accordingly, SEC’s entire equity in the Saudi …
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29 November 01:52 PM Saudi banks' investments in gov’t bonds exceed SAR 474bn in October
Riyadh – Mubasher: The banks operating in Saudi Arabia have invested SAR 474.39 billion in government-issued bonds in October 2021, up 9.9% year-on-year (YoY) from SAR 431.58 billion. On a monthly basis, the banks' investment in the government's …
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29 November 01:03 PM Spending on Saudi cybersecurity market likely to hit SAR 3bn
Riyadh – Mubasher: Saudi Arabia’s cybersecurity market is expected to witness a 13% growth in spending in the coming years. Spending on the Saudi cybersecurity industry is anticipated to reach SAR 3 billion on an annual basis in line with the …
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29 November 12:55 PM Saudi government’s reserves decline 16% in October – SAMA
Riyadh – Mubasher: The Saudi government's reserves decreased by around 15.6% year-on-year (YoY) to SAR 354.638 billion in October 2021, compared to SAR 420.347 billion. On a monthly basis, the Saudi government's reserves went down by 0.3% in …
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28 November 04:34 PM Saudi Arabia's FDI inflows hit $13.8bn in Q2-21
Riyadh - Mubasher: Saudi Arabia's foreign direct investment (FDI) inflows have recorded the highest rise since 2010 to reach $13.8 billion in the second quarter (Q2) of 2021, with the Aramco pipeline deal accounting for $12.4 billion. Saudi …
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28 November 02:17 PM Kuwait’s C.bank, CMA initiate campaign on crypto assets
Mubasher: The Central Bank of Kuwait (CBK) has collaborated with the Capital Markets Authority (CMA) to launch a joint financial literacy campaign on investing or dealing in crypto assets in the state, according to a press release on Sunday. …
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25 November 05:36 PM Saudi Arabia’s daily COVID-19 cases decline to 28
Riyadh – Mubasher: Saudi Arabia reported 28 new COVID-19 infections on Thursday, down from 34 cases a day earlier and compared to 38 infections on Tuesday. There were 38 additional recoveries as well as one fatality, according to the Ministry of …
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24 November 03:38 PM Saudi Arabia generates trade balance surplus in September, Q3
Riyadh – Mubasher: Saudi Arabia has recorded a trade balance surplus of SAR 48.82 billion in September this year, according to official data on Wednesday. The Kingdom’s trade volume, both imports and exports, amounted to SAR 140.5 billion last …
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23 November 04:45 PM Saudi consumers plan more spending amid optimism over vaccine rollout – Report
Mubasher: Saudi Arabia’s consumers have been increasing their spending over the past months more than the global average, while 20% of Saudis intend to spend more on an ongoing basis post-pandemic, a report by AlixPartners unveiled on Tuesday. The …
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22 November 02:51 PM PepsiCo launches first greenhouse accelerator programme in MENA
Mubasher: PepsiCo has introduced its greenhouse accelerator programme in MENA to boost innovation and sustainability through collaboration with the region's startups. The programme was launched in partnership with the UAE Ministry of Climate …
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22 November 02:14 PM Saudi investment funds' assets hit SAR 526.1bn in Q3-21
Riyadh – Mubasher: The total value of assets held by Saudi Arabia's investment funds jumped by 26.45% year-on-year (YoY) to SAR 526.1 billion in the third quarter (Q3) of 2021 from SAR 416.06 billion. On a quarterly basis, Saudi Arabia's …
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21 November 04:17 PM Listing of Development Works Food on Main Market begins mid-week – Tadawul
Riyadh – Mubasher: The Saudi Exchange (Tadawul) announced that listing and trading the shares of Development Works Food Company on the Main Market will commence on Tuesday, 23 November. The stock will be listed under the Consumer Discretionary …
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21 November 02:50 PM VentureSouq launches MENA's FinTech fund worth $50m
Mubasher: VentureSouq (VSQ), a GCC-based venture capital company, has launched the $50 million FinTech Fund I, the first fund focusing on FinTech across the MENA region and Pakistan. The fund invests in early-stage FinTech and SaaS companies …
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18 November 05:57 PM Tadawul nods to listing SAR 614m government debt instruments
Riyadh – Mubasher: The Saudi Exchange (Tadawul) has approved the listing of government debt instruments worth SAR 614.17 million of a class already listed, according to a disclosure on Thursday. The nod to listing the amount will represent an …
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17 November 05:50 PM Development Works Food to trade on Tadawul’s Main Market
Riyadh – Mubasher: The Saudi Exchange (Tadawul) has approved for Development Works Food Company to transfer its shares to the Main Market from the Parallel Market (Nomu), according to a bourse statement on Wednesday. Development Works Food will …
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17 November 01:27 PM Saudi Arabia's holdings of US treasury bonds down 5% in September
Riyadh - Mubasher: Saudi Arabia's holdings of US treasury bonds decreased by 5.3% to $124.3 billion in September, compared to $131.2 billion in the same month of 2020. Saudi Arabia has occupied the 17th position among the holders of the US debt …
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15 November 04:47 PM Saudi inflation inches up in October; wholesale prices rise 12%
Riyadh – Mubasher: Saudi Arabia’s Consumer price index (CPI) went up 0.8% in October this year, compared to the same month in 2020, according to official data on Monday. The CPI, which measures the inflation rate of the country, also inched up …
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14 November 03:05 PM Non-Saudis can invest in Bonyan REIT – Saudi Fransi Capital
Riyadh – Mubasher: Non-Saudi investors will be allowed to subscribe to Bonyan REIT’s units, fund manager Saudi Fransi Capital announced in a bourse filing to the Saudi Exchange (Tadawul) on Sunday. This change will be effective as of 25 November. …
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3 November 02:37 PM Saudi PMI reflects improvement in non-oil private sector – HIS Markit
Riyadh – Mubasher: Saudi Arabia’s headline seasonally adjusted Purchasing Managers’ Index (PMI) registered 57.7 in October, indicating a sharp improvement in the non-oil private sector, according to IHS Markit. October reading was however down …
ADIA has ranked fourth among the world's top largest sovereign wealth funds
2 November 01:07 PM ADIA ranks fourth among world's largest sovereign wealth funds
UAE - Mubasher: Abu Dhabi Investment Authority (ADIA) has ranked fourth among the world's top 100 largest sovereign wealth funds in terms of total assets, with $649.175 billion assets, according to SWF Institute. Norway Government Pension Fund …
Central Bank of Egypt
1 November 11:01 AM Saudi Arabia deposits $3bn at Egypt's central bank
Mubasher: Saudi Arabia has deposited $3 billion at the Central Bank of Egypt (CBE) to support the country's foreign reserves amid the pandemic.  Moreover, the kingdom also extended the maturity of existing deposits worth $2.3 billion, the Saudi …