Updates on Oil: Prices Rise 1% Due to Fears that a Larger Conflict in the Middle East Could Reduce Supply
Tuesday saw a 1% increase in oil prices, offsetting the previous session’s loss due to supply concerns raised by the worsening Middle...
Banking Assets in Qatar Increase by 1.2%
June saw a 1.2 percent monthly expansion in Qatar’s banking assets, which totaled 1.99 trillion Qatari riyals ($546.4 billion),...
US Electric Vehicle Manufacturer Lucid Group Receives $1.5 Billion from PIF
The primary stakeholder of US automaker Lucid Group, Ayar Third Investment Co., a unit of Saudi Arabia’s Public Investment Fund, has...
Oracle Strengthens Saudi Arabia’s AI Economy by Launching the Country’s Second Public Cloud Area
As part of a $1.5 billion commitment to improve Saudi Arabia’s digital infrastructure, technology company Oracle Corp. has opened its...
Aramco Reported a Q2 Net Profit of $29.1 Billion, Up 6.59%
Despite difficult market conditions, Saudi oil company Aramco announced a net profit of $29.1 billion for the second quarter of 2024, a...
Aramco Increases the Price of Arab Light Crude in Asia
For September, Saudi Aramco has raised the price of Arab Light crude oil sold to Asia from +$1.80 per barrel in August to Platts Dubai/DME...
Egypt Reports a Decrease in the Trade Deficit of 10.3%
According to official figures, Egypt’s trade balance deficit decreased by 10.3 percent in May thanks to exports of fruit, clothing,...
Bank Loans in Saudi Arabia Rise by 11% to $734 Billion
According to official figures, Saudi Arabia’s banking sector loans grew to SR2.75 trillion ($733.82 billion) in June, representing an...
Saudi Non-Oil Business Activity is Stable, With the July PMI Standing at 54.4
According to an economy tracker, Saudi Arabia’s non-oil private sector had strong growth in July, propelled by ongoing demand and...
Oil Updates: Due to Concerns About Demand, Prices are Expected to Drop for the Fourth Week in a Row
Global Oil Prices: Although oil prices increased on Friday, they were headed for their fourth straight weekly fall as indications of the...
