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Press Dossier   By Date  08/08/2024
Saudi Arabia’s POS spending jumps 31% to $3.91bn in latest weekly data
Saudi Arabia’s point-of-sale spending reached SR14.7 billion ($3.91 billion) from July 28 to Aug. 3, marking a 30.8 percent increase compared to the previous week, according to official data.
King Abdulaziz Port sets record with 20,645 containers handled on single ship
Saudi Arabia’s maritime sector is experiencing significant expansion, highlighted by the King Abdulaziz Port in Dammam achieving a milestone in container handling.
UAE banks’ savings deposits up 8.4% to reach $80.2bn
The UAE banking sector has demonstrated growth and stability in recent months. According to the latest data, the total value of savings deposits held by banks surged by 8.4 percent year on year, reaching 294.66 billion dirhams, equivalent to approximately $80.2 billion.
Saudi retail real estate sales to reach $183bn by 2027: Deloitte
Saudi Arabia’s retail real estate sales are set to grow from 2.4 percent in 2024 to 2.7 percent by 2027, reaching $183.2 billion, driven by modernization and urban development.
Closing Bell: Saudi, Gulf stocks post gains following global slump
Stock markets in the Middle East continued to recover following “Black Monday,” when global indices plunged due to concerns over a potential US recession triggered by a weak jobs report from the world’s largest economy.
Changes to Saudi labor law set to increase job stability, protect workers’ rights
Recent amendments to several labor law articles will create a more attractive work environment for employees and promote sustainable development, the Ministry of Human Resources and Social Development said.
Boursa Kuwait OTC platform demonstrated resilience and growth in 2023: Almowazi
A report released by Almowazi Financial and Economic Consulting Services Company highlighted that despite the global economic challenges indirectly affecting the Kuwaiti economy and local market, the Boursa Kuwait OTC platform for unlisted companies demonstrated resilience and growth for the year of 2023.
Kuwait, Saudi boost security cooperation
Kuwait’s Undersecretary of the Ministry of Interior, Lieutenant General Sheikh Salem Nawaf Al-Ahmad Al-Sabah, discussed with Saudi counterpart Dr Khaled Al-Battal on Tuesday, enhancing the existing security cooperation between the two ministries. In a statement, the Kuwaiti Ministry of Interior said that this came during a meeting between the two officials.
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