Saudi Arabia’s economic diversification strategy is transforming local capital markets and driving regional growth, positioning the Gulf Cooperation Council as an emerging financial hub, according to a Moody’s report. The Kingdom’s ambitious Vision 2030 plan is reshaping the nation’s financial landscape, with capital markets crucial for funding large-scale investment projects and attracting global investors. The […]
Saudi Arabia recorded a trade surplus of SR44.89 billion ($11.97 billion) in the fourth quarter of 2024, driven by a 17.3 percent year-on-year surge in non-oil exports, official data showed. According to the General Authority for Statistics, the Kingdom’s non-oil exports in the fourth quarter rose to SR82.05 billion, up from SR69.97 billion in the […]
Bitcoin tumbled below $90,000 to hit the lowest level since mid-November, as the rally that followed Donald Trump’s election to the White House reverses under the weight of his trade tariffs and a string of industry setbacks. Bitcoin dropped as much as 7.6% and traded around $88,300 at 11:38 a.m. London on Tuesday. Other cryptocurrencies […]
The 2021–2025 National Development Plan (NDP), which aimed to lift 35 million people out of poverty and create 21 million full-time jobs by 2025, has joined the long list of the country’s failed economic blueprints. Instead of reducing poverty, the plan has seen an additional 44 million Nigerians plunged into extreme poverty. In 2021, the […]
Saudi Agricultural and Livestock Investment Co. has struck a $1.78 billion deal for a controlling stake in Singapore-based Olam Agri Holdings. The agreement will raise SALIC’s stake from 35.43 percent to 80.01 percent, with an option to acquire the remaining 19.99 percent within three years, the company said in a statement, adding that the transaction […]
The report identifies that cashback spending is expected to experience significant growth in Vietnam, with a projected surge of 16.6 per cent annually. The medium- to long-term outlook for cashback spending in the country remains robust, with adoption anticipated to increase steadily until 2029. Cashback programmes in Vietnam are reshaping consumer behaviour and driving growth […]
The statement was made by Cho Hyun-joon, chairman of Hyosung Group, at a meeting with Prime Minister Pham Minh Chinh in Hanoi on October 14. Chairman Cho Hyun-joon said that Hyosung was the third-largest direct investor from South Korea in Vietnam. The group has so far invested about $4 billion and generated some 10,000 jobs in […]
The two power plants have a total planned capacity of 1,624MW and are expected to contribute more than nine billion kWh of electricity per year. At present, PV Power and its contractors are focusing on completing the final steps ahead of the pilot operation period. PV Power currently operates Vung Ang 1 thermal power plant, […]
Russia and the United States held their first face-to-face talks on ending the Ukraine war on Feb. 18 in Saudi Arabia and both US President Donald Trump and Russian President Vladimir Putin have said they hope to meet soon. After Putin sent troops into Ukraine in 2022, the United States and its allies prohibited transactions with Russia’s […]
In a major retaliatory move against China, the United States is proposing expensive charges that could add millions of dollars in costs for ocean container lines and other carriers calling U.S. ports. The proposal by the office of the United States Trade Representative (USTR), published Friday in the Federal Register, sets fees as high as $1.5 […]