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Press Dossier   By Date  07/08/2024
Saudi Arabia’s top banks see 17% earnings surge to $5.2bn in Q2
Saudi Arabia’s top 10 listed banks saw an annual surge in earnings of 17 percent in the second quarter of 2024, to reach SR19.54 billion ($5.21 billion).
Qatar banking assets see 1.2% rise
An increase in domestic investments and credit led Qatar’s banking assets to see a monthly growth of 1.2 percent in June, to reach 1.99 trillion Qatari riyals ($543.9 billion).
Closing Bell: Saudi main index closes at 11,679 as Middle Eastern stock markets rebound
Most stock markets in the Gulf rebounded on Tuesday as comments from US Federal Reserve officials soothed investor nerves following the previous session’s global sell-off on fears of a possible US recession.
153,000 Saudis secure private sector jobs in first half of 2024
Director General of the Human Resources Development Fund Turki bin Abdullah Al-Jawini said that the fund has assisted more than 153,000 Saudi men and women in securing employment in the private sector during the first half of 2024.
Kuwait’s business and household credit growth relatively low in Q2
Kuwait’s domestic credit growth was relatively decent 1.1 percent in Q2, resulting in a 2 percent YTD increase (+2.9 percent y/y). However, growth in Q2 was mainly driven by lending to banks/financial institutions (+9.2 percent q/q) and for securities purchase (+2.8 percent), not by business/household lending.
Why small-scale project visas can be problematic
After two years of working in Kuwait, assuming she was under regular work visa conditions, Shaimaa Morsi, an expat with a bachelor’s degree in political science, was surprised to find out that her work visa was actually a “small-scale project visa”.
Saudi approves MoU on SPA and KUNA news exchange
The Council of Ministers of Saudi Arabia gave thumbs up Tuesday for a Memorandum of Understanding (MoU) on news exchange between the Saudi Press Agency (SPA) and the Kuwait News Agency (KUNA).
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