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Banking & Finance
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Time and savings deposits in Saudi Arabia's banking system grew 3 percent since the beginning of the year
Great strides have been made in advancing digital transformation and building a robust payment ecosystem across the region
Market sees surge in liquidity with a traded value of SAR2.5 billion in 2023
Offering includes a GBP300 million tranche with a 5-year coupon and a GBP350 million tranche with a 15-year coupon
The report shows remarkable growth in operating income (+3.8 percent) mainly on the back of higher fee income
Personal loans constituted 47 percent of banks' total lending, while corporate loans made up the remaining 53 percent
Energy
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By 2025, the Kingdom is expected to account for 67 percent of the MENA region's total E&P expenditure
Data also showed that Saudi refineries' crude throughput fell in March by 0.115 million bpd to 2.560 million bpd
Deal aligns with Aramco’s strategy to expand its presence in key high-value markets like China
This represented a rise of 55,000 bpd or 0.61 percent compared to the previous month
The contract includes a mandatory and optional extension period of up to 18 months
This expansion initiative aims to enhance the plant's processing capacity from 2.5 to a potential 4 bscfd
Health
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Integrating health, justice and sustainability in decision-making promotes health sector's growth
Will strengthen bilateral cooperation in healthcare and medical services
Agreements mark significant step towards health and pharmaceutical security
Testing blood for p-tau217 could provide accurate Alzheimer’s screening before symptoms manifest
Insurance will become part of the employer’s contract
Enhancing employee well-being improves organizational performance
Industry
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Saudi Arabia sees 7.7 percent annual surge in manufacturing activity in April 2024
Discussion fall in line with Saudi Arabia's goals of enhancing its position in the industrial and mining sectors
The licenses cover 10 building materials quarry licences, one mineral ores surplus licence, and one reconnaissance licence
$2.5 trillion in mineral wealth support Saudi Arabia's diversification efforts
Index reveals 2.1 percent annual increase in manufacturing activity
MODON received the "Most Attractive Destination for Investments Award" in 2023
Logistics
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Saudi Arabia supports the organization's 'No Country Left Behind' initiative with $1 million of funding
This highlights the strong economic and trade relationship between Saudi Arabia and China
King Khalid International Airport ranked first globally with an on-time performance of 88.23 percent
MoU to promote digital transformation, knowledge sharing and technology development
GACA boosts connectivity ahead of the summer season of 2024 with flights to Italy, Poland and India
Mawani's infrastructure improvements align with the National Transport and Logistics Strategy
Markets
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Saudi Arabia saw record high net foreign investments, which rose 7.7 percent annually to $52.78 billion in 2023
Domestic institutional investors now hold around 0.89 percent of the company's shares
The banks on the Aramco offering will take institutional orders until Thursday and will set the price of the shares the following day
The company has set the price range between SAR26.70 and SAR29.00 per share
U.S. economy grew 1.3 percent in Q1 of 2024, significantly slower than 3.4 percent in Q4 of 2023
Brent oil futures expiring in July dropped 0.3 percent to $81.61 per barrel
Miscellaneous
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GOSI stated that the statutory retirement age for individuals affected by the amendments would range between 58 and 65 years
The Kingdom is home to around 23.5 million gamers, 48 percent of whom are women
The Club Championship will award $20 million to the top 16 clubs depending on their overall performance
UAE, Saudi Arabia explore establishment of Saudi-Emirati Coordination Council to enhance procurement
Council to enhance achievements, protect interests, and create new opportunities for both nations
Currently, Saudi Arabia has 66 movie theaters with approximately 618 screens and 63,373 seats
The project primarily targets showcasing the rich heritage of the Historic Jeddah District
Real Estate
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Prime office rents in Riyadh rose 14.5 percent, while Grade A and B rents increased 11.8 percent and 10.3 percent
Agreements to develop and raise the quality of residential projects across the Kingdom
Report expects real estate to increase its contribution to the GDP from 6 percent to 10 percent by 2030
40 percent of Spain's investments in Saudi Arabia over the past 10 years has been in the real estate sector
More than 600,000 trees and shrubs will be planted, covering 65 percent of the park area
Facilitating logistical supply for real estate-related projects in Saudi Arabia
Telecom
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Group's net profit surged by 44.50 percent to SAR3.28 billion
PIF to acquire 51 percent stake in TAWAL from stc Group
The two companies extended the managed services partnership for another three years
The deal aims to create a neutral host ecosystem, allowing service providers to share infrastructure
The Group reported $3.6 billion in net profits
