business

Saudi Arabia launches King Salman Automotive Cluster, targeting $24.5 billion GDP boost by 2035

The hub will drive Kingdom's economic diversification and serve as a catalyst for sustainable transportation

Dubai’s TECOM Group posts record revenue of $653.4 million in 2024

The Group saw 14 percent YoY increase in net profit, reaching $326.7 million 

Bank of England cuts interest rates to 4.5 percent, lowest since 18 months

This decision follows December's unexpected inflation drop from 2.6 percent to 2.5 percent

Egypt welcomes 15.78 million tourists in 2024, aims for 30 million annually in coming years

The country received 8.7 million tourists in the first half of the current fiscal year

LEAP 2025 to highlight innovation through culture, entertainment and heritage

Program will span a week, continuing until February 13, at various locations throughout Riyadh

Saudi Arabia: Fiscal Sustainability Program plan completed, a milestone achievement for Vision 2030

The program boosted non-oil revenues from SAR186 billion in 2016 to SAR458 billion in 2023

Gold demand surges YoY to record $382 billion, global investment up by 25 percent: Report

Central banks' strong purchases and high gold prices drove demand to a record high of 4,974 tons

Saudi Arabia’s debt capital market poised to exceed $500 billion by end of 2025: Report

Fitch has reaffirmed Kingdom's credit rating at A+ with a stable outlook

Riyadh and Jeddah to see 394,900 square meters of new lifestyle retail space by 2027: Report

Since 2021, Saudi Arabia’s lifestyle retail market has evolved significantly, driven by Vision 2030 ambitions

Alphabet shares slip after mixed Q4 results amid slowing cloud growth and $75 billion CapEx plans

The company’s advertising sector showed resilience, with revenue climbing to $72.4 billion

Oman’s broad money supply grows 11 percent to $64.5 billion

Currency issued fell 5.2 percent to OMR1.5 billion by November 2024 from OMR1.58 billion