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RIYADH: Oil prices pulled back from a three-month high on Wednesday as industry data showed an increase in US crude inventories. Brent crude futures slipped 24 cents, or 0.29 percent, to $83.40 a barrel by 11:21 a.m. Saudi time, while US West Texas Intermediate crude was at $79.37 a barrel, down 26 cents, or 0.33 percent. US …
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 23.45 points, or 0.20 percent, to close at 11,906.13. The total trading turnover of the benchmark index was SR6.58 billion ($1.75 billion) as 99 of the 228 listed stocks advanced, while 109 retreated. However, the parallel market Nomu slipped 523.57 points, or 2.08 percent, to …
RIYADH: Kuwait recorded its first budget surplus of 6.4 billion Kuwaiti dinars ($20.86 billion) in nine years, as oil revenue boosted the country’s exchequer during the financial year 2022-2023, the finance ministry has announced. Kuwait, whose financial year ends on March 31, saw a 54.7 percent surge in revenue to 28.8 billion Kuwaiti dinars from …
RIYADH: In a push toward increasing financial literacy in Saudi Arabia, the Kingdom’s central bank has licensed Fas Finance Co. to provide consumer microfinance solutions. The licensing decision reflects the effort of the institution — also known as SAMA — to support the sector, enhance transaction efficiency, and encourage innovative solutions for greater financial inclusion in Saudi Arabia.
WASHINGTON: The Federal Reserve is expected to raise interest rates by a quarter of a percentage point on Wednesday, marking the 11th hike in the US central bank’s past 12 policy meetings and possibly a last move in its aggressive battle to tame inflation. The increase, anticipated by investors with nearly a 100 percent probability, …
RIYADH: Reflecting its endeavor in supporting the fintech sector, the Saudi Central Bank has given the buy-now-pay-later platform Tabby a permit to run postpaid payment activity. According to a statement from the bank, also known as SAMA, this means the Kingdom now has five authorized companies offering BNPL solutions, boosting its plans to become a …
Saudi leaders are almost 3 times more likely to innovate during a recession: Dell Technologies RIYADH: At a time of recession, Saudi leaders and adopters are 2.8 times more likely to accelerate innovation efforts, according to a new study. Dell Technologies Innovation Index, which polled 6,600 employees across more than 45 countries, also revealed that innovation followers and laggards …
RIYADH: The UAE’s government’s revenues and expenditures both saw downturns in the first quarter of 2023, with the tax yield seeing a quarter-on-quarter drop of 11.5 billion dirhams ($3.13 billion). According to figures released by the Ministry of Finance, income of 115.6 billion dirhams was recorded in the three months to the end of March …
الرياض: شهدت إيرادات ونفقات حكومة الإمارات تراجعاً في الربع الأول من عام 2023 ، حيث شهد العائد الضريبي انخفاضاً ربع سنوي قدره 11.5 مليار درهم (3.13 مليار دولار). وبحسب أرقام صادرة عن وزارة المالية ، فقد تم تسجيل دخل بلغ 115.6 مليار درهم في الأشهر الثلاثة حتى نهاية مارس 2023 ، بانخفاض 19.22 في المائة …
الرياض: شهدت إيرادات ونفقات حكومة الإمارات تراجعاً في الربع الأول من عام 2023 ، حيث شهد العائد الضريبي انخفاضاً ربع سنوي قدره 11.5 مليار درهم (3.13 مليار دولار). وبحسب أرقام صادرة عن وزارة المالية ، فقد تم تسجيل دخل بلغ 115.6 مليار درهم في الأشهر الثلاثة حتى نهاية مارس 2023 ، بانخفاض 19.22 في المائة …
