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...
Baha’s Rich Legacy Includes Saudi Carpentry
The proverb “A trade in hand ensures against poverty” has a long history in the Baha region. It is primarily attributed to...
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...
According to the Agriculture Ministry, Saudi Arabia’s Fig Output is Now Self-Sufficient
The Ministry of Environment, Water, and Agriculture has declared that Saudi Arabia has reached self-sufficiency in the production of figs,...
Up to Friday, Saudi Arabia’s Civil Defense is Warning of Intense Rain and Strong Gusts
Residents and people are advised by the General Directorate of Civil Defense to prioritize their safety and proceed with caution by staying...
