Browsing: Economy

CAIRO: The burgeoning expatriate community and digital surge in Saudi Arabia have beckoned UAE-based travel tech startup Tumodo to expand its horizons. 

RIYADH: Local markets and online shopping will experience a surge during Ramadan activities thanks to an influx of consumers adapting their shopping habits during the holy period. 

RIYADH: Homeownership in Saudi Arabia is set to increase as the Real Estate Development Fund deposited SR963 million ($256.7 million) into the accounts of Sakani beneficiaries for March. 

RIYADH: Calls for completely abandoning oil and fully relying on renewable energy have been deemed “wrong” and “unrealistic” by Haitham Al-Ghais, the secretary-general of the Organization of the Petroleum Exporting Countries.

RIYADH: Point-of-sale payments in Saudi Arabia recorded an 11 percent annual increase in January to reach SR53.8 billion ($14.35 billion), the latest data issued by the Saudi Central Bank showed.

RIYADH: Kuwait’s trade surplus with Japan surged 53.4 percent year-on-year in February to $652 million, driven by energy products, as exports outpaced imports significantly.  

RIYADH: The share price of Saudi Research and Media Group surged by 9.96 percent on Sunday, reaching a historic high of SR335.60 ($89.48) since its debut on Tadawul.  

BEIJING: The head of the International Monetary Fund on Sunday called on China to implement “a comprehensive package of pro-market reforms” to boost a sluggish economy beset by a housing market crisis, low domestic demand and persistently high youth unemployment.

The volume of Russian diesel in floating storage at sea hit the highest levels since at least 2017 this month, Bloomberg reported on Friday, citing data from energy analytics firm Kpler.

US lawmakers passed a $1.2 trillion spending bill on Saturday, in a long-overdue action six months into the budget year that has narrowly averted a partial government shutdown.