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2 weeks ago | 
arab.news | Reem Walid |Nadin Hassan |Nour El-Shaeri |Dayan Abou Tine
KARACHI: The Pakistani government has allocated 2,000 megawatts (MW) of electricity in the first phase of a national initiative to power bitcoin mining and Artificial Intelligence (AI) data centers, the finance ministry announced on Sunday, in a push to transform Pakistan into a global leader in digital innovation.
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2 weeks ago | 
arab.news | Nadin Hassan |Dayan Abou Tine |Mohammed Al-Kinani |Ismail Dilawar
Closing Bell: Saudi main index ends lower at 11,303 /node/2601614/business-economy May 21, 2025 16:29 Closing Bell: Saudi main index ends lower at 11,303 MSCI Tadawul 30 Index lost 19.78 points to close at 1,441.01 Parallel market Nomu declined 110.94 points to end at 27,417.62 RIYADH: Saudi Arabia’s Tadawul All Share Index closed in the red on Wednesday, falling 134.5 points, or 1.18 percent, to settle at 11,303.68.
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1 month ago | 
arab.news | Nour El-Shaeri |Miguel Hadchity |Mohammed Al-Kinani |Dayan Abou Tine
RIYADH: Startups across the Middle East, North Africa and South Asia are securing fresh capital and expanding into new markets, signaling strong investor confidence. Saudi-based business-to-business marketplace Sary has announced it will merge with Bangladesh’s commerce platform ShopUp to create the SILQ Group, a newly formed entity aiming to transform cross-border trade across South Asia and the Gulf.
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2 months ago | 
arab.news | Nirmal Narayanan |Dayan Abou Tine |Reem Walid |Miguel Hadchity
KARACHI: IMF staff and Pakistani authorities have reached a staff-level agreement on the first review under Pakistan’s Extended Fund Facility (EFF) and on a new arrangement under the Resilience and Sustainability Facility (RSF), the IMF said on Tuesday. Islamabad secured the $7 billion EFF last summer to help claw its way out of an economic crisis, with an immediate disbursement of about $1 billion.
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Mar 9, 2025 | 
arab.news | Dayan Abou Tine |Nadin Hassan |Mohammed Al-Kinani |Ismail Dilawar
Saudi Aramco cuts crude oil prices for Asia /node/2592980/business-economy March 09, 2025 12:43 Saudi Aramco cuts crude oil prices for Asia RIYADH: Saudi Aramco has lowered its crude oil prices for Asian buyers in April, marking the first reduction in three months. This price cut aligns with market expectations and follows the decision by OPEC+ to gradually increase oil supply starting this month.
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Mar 5, 2025 | 
arab.news | Reem Walid |Dayan Abou Tine |Nadin Hassan |Miguel Hadchity
ISLAMABAD: American financial services company Payoneer has partnered with Meezan Bank, Pakistan’s largest Islamic bank, to enhance cross-border payments for Pakistani businesses, entrepreneurs, and freelancers, a press release said on Wednesday. Under the partnership, Meezan Bank customers can link their Payoneer accounts to the bank’s mobile banking app to make real-time withdrawals in multiple global currencies directly into their Meezan local receiving accounts.
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Mar 4, 2025 | 
arab.news | Nour El-Shaeri |Dayan Abou Tine |Ismail Dilawar
KARACHI: Pakistan and the International Monetary Fund (IMF) on Tuesday formally kicked off talks for the first review of a $7 billion bailout program that Islamabad secured last year, the finance ministry said in a statement.
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Feb 18, 2025 | 
arab.news | Nadin Hassan |Dayan Abou Tine |Miguel Hadchity |Mohammed Al-Kinani
Saudi Tadawul eyes strong growth amid rising listings and foreign investment /node/2590688/business-economy February 18, 2025 14:25 Saudi Tadawul eyes strong growth amid rising listings and foreign investment Tadawul’s growth has been bolstered by a rising influx of qualified foreign investors It is also expanding its footprint in data innovation and commodity markets RIYADH: Saudi stock exchange operator Tadawul Group is poised to accelerate the growth of its fixed-income market in 2025,...
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Jan 18, 2025 | 
arabnews.com | Dayan Abou Tine
RIYADH: Cement sales in Saudi Arabia saw an annual increase of 12.33 percent in the fourth quarter of 2024, reaching 14.87 million tonnes, according to recent data. Figures released by Al-Yamama Cement showed this growth was primarily driven by strong domestic demand, accounting for 96 percent of total sales, while exports comprised the remaining 4 percent.
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Jan 17, 2025 | 
arabnews.com | Dayan Abou Tine
RIYADH: Saudi Arabia’s bank loans surged to SR2.93 trillion ($782 billion) in November, marking a 13.33 percent year-on-year increase — the highest growth rate in 22 months. According to figures from the Saudi Central Bank, also known as SAMA, corporate loans were the main driver, surging 17.28 percent to SR1.58 trillion. This marks the highest annual growth for corporate loans among the lending activity data available in SAMA’s reporting since 2021.
