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Press Dossier   By Date  14/09/2024
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.
MENA private equity deals reach $5.9bn in H1, despite challenging conditions: PitchBook
Private equity investments in the Middle East and North Africa reached $5.9 billion across 49 deals in the first half of 2024, despite challenging market conditions, according to a new report.
Riyadh Air begins non-commercial flights as part of certification process
Saudi Arabia’s Riyadh Air, a subsidiary of the Public Investment Fund, has launched its first non-commercial flight from the capital’s King Khalid International Airport as part of the airline’s certification process.
Oman’s wealth fund to launch IPOs across key sectors over next 5 years
Oman’s sovereign wealth fund plans to launch initial public offerings in key sectors from 2024 to 2028 as part of its divestment strategy to raise additional market funds.
Closing Bell: Saudi main index ends higher at 11,842.55
Saudi Arabia’s Tadawul All Share Index reversed this week’s trend, rising by 76.15 points, or 0.65 percent, to close at 11,842.55 on Thursday.
Bloom Consulting opens its first Middle East office in Saudi Arabia
Madrid-based Bloom Consulting has opened its first Middle East office in Saudi Arabia, partnering with Destination Consultancy to help cities and regions improve economic growth.
Islamic banks to outperform conventional banks in GCC, predicts Moody’s
Islamic financing in the Gulf Cooperation Council is expected to grow faster than conventional banking, according to a report by Moody’s Investors Service.
Domestic-to-private transfer ends
The Public Authority of Manpower announced that a two-month period allowing the transfer of domestic helpers to the private sector ended as of Thursday.
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