RIYADH: The Saudi national workforce is set to receive a 20 percent boost in financial support for nearly 98 jobs and activities within the municipal and housing sectors. The Ministry of Municipalities and Housing, in collaboration with the Human Resources Development Fund, announced an increase in the financial aid percentage for the Employment Support Program…
Muscat: Bank Muscat Money Market Fund, Oman’s first money market fund, has accomplished a momentous milestone with its assets under management (AUM) crossing OMR155 million mark as on 2nd July 2024, recording AUM growth of over 170 percent during 2024. The Fund continues to retain its top position as the largest open-ended mutual fund in Oman….
Muscat: The North Al Sharqiyah Governorate experienced a vibrant tourism boom from October to March, 2024, with hotel room occupancy rates soaring between 60% and 90% during the peak season. The region’s burgeoning tourism sector boasts 47 tourist facilities, offering a combined total of 1,044 hotel rooms across the governorate. Mohammed bin Saif Al Riyami, Head…
RIYADH: Saudi e-commerce sales using Mada cards reached SR14.11 billion ($3.76 billion) in February – an annual increase of 25 percent, the Kingdom’s central bank has revealed. This figure includes transactions through online shopping, in-app purchases and e-wallets, and excludes transactions by Visa, MasterCard and other credit cards. Mada serves as Saudi Arabia’s national card payment…
RIYADH: Saudi low-cost airline flynas has signed a deal to purchase 160 Airbus aircraft, doubling the volume of its orders to 280 planes. The “landmark agreement,” signed at the UK’s Farnborough International Airshow, includes an order of 30 wide-body A330neo aircraft and 130 narrow-body A320 family aircraft, the carrier said in a statement. This falls…
RIYADH: Food production localization and aviation were areas of focus as a senior Saudi minister met with leading Brazilian companies during a trip to the South American country. The Kingdom’s Minister of Industry and Mineral Resources, Bandar AlKhorayef, held talks with executives from Minerva Foods and JBS, which are prominent in the red meat and…
RIYADH: Saudi Arabia completed its riyal-denominated sukuk issuance for July at SR3.21 billion ($855.7 million), according to the National Debt Management Center. The level once again remained above SR3 billion, following a June issuance level of SR4.4 billion, SR3.23 billion in May, SR7.39 billion in April, and SR4.4 billion in March. NDMC revealed that the Shariah-compliant…
RIYADH: The Kingdom’s capital has experienced a significant surge in apartment rental prices in recent years, making it increasingly difficult for many residents to afford suitable accommodation. This sharp rise in rental costs has led to a growing trend among Riyadh’s population to prioritize home ownership over renting, as they seek to gain more stability…
Emirates’ boss expects the first of its 205 Boeing 777X aircraft to enter into service by 2026, extending delays on the long-anticipated programme, after the wide-body aircraft attains full certification at the end of 2025. Boeing will face heightened regulatory scrutiny of its new wide-body jet and must ensure it gets it right, Tim Clark,…
RIYADH: The International Monetary Fund has welcomed recent recalibrations and adjustments by Saudi Arabia on some of its megaprojects under Vision 2030. “We are almost at a midpoint in the Vision 2030,” said Jihad Azour, the IMF director of the Middle East and Central Asia department, and “those recalibrations are part of the classical revision…
