Arab News Business Weekly Review - September 17
This week: Saudi banks: $2.1B profit, $744B loans, EEC’s CEO: Capital plan enhances growth, and Experts say Saudi Arabia’s recycling plan will lead.

Arab News Business Weekly Review - September 17

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发布日期: 2024年9月17日
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Saudi banks’ aggregate profit reaches an all-time high of $2.1bn; loans hit $744.4bn

Saudi banks aggregate profit before zakat and tax reached an all time high of SR7.83 billion ($2.1 billion) in July, marking an annual 23 percent rise, newly released data has revealed.

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EEC’s capital optimization plan to shore up financial position and sustain growth: CEO

Saudi master developer Emaar The Economic City’s SR8.7 billion ($2.32 billion) capital optimization plan is a “strategic response” to its current financial challenges, according to its CEO.

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Saudi Arabia’s bold recycling plan will see it become a world-leader, experts believe

In an era marked by growing environmental concerns and the pursuit of sustainable development, recycling has emerged as a crucial driver of economic prosperity for countries worldwide.

Read more here.

Startup of the Week – US-based SambaNova sets sights on Saudi market

Saudi Arabia’s potential as a global leader in artificial intelligence is drawing attention from major industry players, with SambaNova Systems being one of the latest to invest in the region.

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Saudi Arabia launches strategy to boost market transparency, foreign investment

Saudi Arabia’s Capital Market Authority has unveiled a plan for 2024-2026 to develop a robust debt market and enhance the international competitiveness of its asset management industry.

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Ma’aden, Bahrain’s Alba to form global aluminum powerhouse with new?deal

Saudi Arabian Mining Co., known as Ma’aden, has signed a non-binding agreement with Aluminium Bahrain B.S.C., or Alba, to potentially create a global aluminum producer.

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Qatar’s industrial production rises by 6% in July, driven by mining sector growth

Qatar’s industrial production index rose by 6 percent in July, reaching 103.2 points, driven by the mining sector, official data showed.?

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Saudi Arabia’s capital market institutions post 27% rise in operating revenue to $1.1bn: CMA

Saudi Arabia’s capital market institutions reported an annual surge of?27 percent?in operating income in the second quarter of 2024 – reaching SR4.1 billion ($1.1 billion).

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Saudi Arabia committed to adhering to IAEA safeguards for its nuclear program, says minister

Saudi Arabia’s nuclear program is making strides as the Kingdom works toward diversifying its energy sources and supporting sustainable growth, said a senior minister.

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EV Auto Show 2024: Riyadh set for key exhibition, spotlighting Saudi green goals

The rapidly evolving transport sector in Saudi Arabia is set for a significant boost with the return of the EV Auto Show to Riyadh, taking place from Sept. 17 to 19.?

Read more here.

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