Author: Steven Sahiounie

Banque Saudi Fransi completed the issuance of additional tier-one sukuk, raising SR3 billion ($810 million) under its SR8 billion capital program. 

Oil was little changed on Wednesday after a sharp drop in the previous session ended a three-day streak of gains

Total exports amounted to around 30.2 billion riyals in July and imports reached an estimated 10.1 billion riyals

Deal was obtained from a diverse global syndicate of 23 financial institutions spanning Europe, the US, the Middle East and Asia

Islamic banks in the UK saw their assets surge 26 percent in 2023 to $8.2 billion, reinforcing the country’s position as a key Western hub for Shariah-compliant banking. 

Egypt has uncovered a significant new oil deposit in the Western Desert, which officials believe could substantially boost the country’s energy production

Saudi Arabia’s point-of-sale transactions dipped to SR11.6 billion ($3.09 billion) between Aug. 18 and 24, reflecting a 14.1 percent decrease from the previous week, official data showed.

Bolstered by Vision 2030, Saudi Arabia’s industrial sector has witnessed a 60 percent growth in facilities since the launch of the national vision. 

French President Emmanuel Macron invited Telegram founder Pavel Durov to move the company to Paris back in 2018, The Wall Street Journal writes, citing sources. Macron also discussed granting French citizenship to the Telegram CEO, one of the sources said. However, Durov declined to move Telegram to Paris. Durov was detained at Le Bourget Airport outside Paris on August 24; his custody was extended to 96 hours the next day. The Paris prosecutor’s office suspects him of complicity in drug trafficking, fraud crimes against children committed through Telegram. The Russian embassy in France said diplomats had demanded that Durov’s rights be protected…

Saudi Crown Prince Mohammed bin Salman discussed the situation in Gaza with Palestinian President Mahmoud Abbas during a meeting in Riyadh, the Saudi Press Agency said Tuesday. The Crown Prince stressed that the Kingdom will continue its efforts to communicate with all international and regional parties to stop the escalation in the war-torn territory. He also reiterated Saudi Arabia’s contentious support for the Palestinian people to achieve their legitimate rights to a decent life, fulfill their hopes and aspirations, and achieve just and lasting peace. Saudi and Palestinian senior officials attended the meeting. Source: Arab News