The Reserve Bank of India (RBI) is expected to maintain its modern coverage rates all through the approaching Monetary Policy Committee (MPC) assembly, scheduled from December 4 to December 6. According to a recent document by way of the State Bank of India (SBI), the imperative bank is in all likelihood to chorus from making…
Ford, one of the global’s biggest automakers, has announced a sweeping plan to cut about four,000 jobs across its European operations with the aid of the end of 2027. The business enterprise’s decision comes as it grapples with extensive losses in latest years, exacerbated by using the automobile enterprise’s ongoing shift toward electrified mobility, stricter…
BISHKEK, Kyrgyzstan: Turkiye and Kyrgyzstan on Tuesday agreed to a “comprehensive strategic partnership,” boosting defense ties, during an official visit to the Central Asian state by Turkish President Recep Tayyip Erdogan.Ankara is strengthening its presence across the region, as it seeks to compete with the likes of Russia and China for influence.Erdogan regularly visits Central…
RIYADH: Saudi Arabia’s real gross domestic product rose by 2.8 percent in the third quarter of this year compared to the same period in 2023, driven by an increase in non-oil activities, official data showed. According to the General Authority for Statistics, the Kingdom’s non-oil sector expanded by 4.2 percent year on year in…
RIYADH: Africa’s economic vitality has a profound impact on global stability, Saudi Arabia’s Minister of Investment Khalid bin Abdulaziz Al-Falih emphasized during a forum ahead of the Future Investment Initiative event. Speaking at the FII New Africa Summit in Riyadh, global leaders gathered to discuss the opportunities and challenges facing the continent under the event’s theme, “Infinite Horizons: Investing…
ISLAMABAD: Saudi businessmen have expressed hope for successful collaborations in Pakistan, saying the country’s economic stability and improved regulatory framework had made it an attractive investment destination, following the signing of over two dozen deals between companies from both nations. The Kingdom’s Investment Minister Khalid bin Abdulaziz Al-Falih visited Pakistan on a three-day visit with a…
RIYADH: Saudi Arabia’s Industrial Production Index climbed 1 percent in August compared to the same month last year, driven by a rise in mining and quarrying activities, according to official data. According to the General Authority for Statistics, mining and quarrying expanded 0.8 percent year on year, as Saudi oil output rose to 8.99 million…
RIYADH: Expatriate remittances from Saudi Arabia reached SR11.86 billion ($3.16 billion) in August, marking a 10 percent annual increase, according to recent data. Figures from the Saudi Central Bank, also known as SAMA, also revealed that transfers sent abroad by Saudi nationals rose by 19 percent year on year, totaling SR5.83 billion. As one of…
SINGAPORE: Oil prices fell more than $1 a barrel on Tuesday as traders took profits from a rally in the previous session that lifted the market to its highest level in over a month on fears the Middle East could be on the brink of a region-wide war. Brent crude futures fell $1.31, or 1.6…
RIYADH: Saudi Arabia’s official reserve assets reached SR1.76 trillion ($469.83 billion) in August, the highest in 21 months and a 10 percent increase year-on-year, according to recent data. Figures released by the Saudi Central Bank, known as SAMA, show these holdings include monetary gold, special drawing rights, the International Monetary Fund’s reserve position, and foreign…
