Reem Walid

Cairo

Freelance Business News Reporter at Arab News

I am always a work in progress

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Articles

Saudi Arabia ranks 1st in region, 6th in G20 for geospatial infrastructure

1 day ago | arabnews.com | Reem Walid

RIYADH: Saudi Arabia has climbed to ninth place in the 2025 Geospatial Knowledge Infrastructure Readiness Index, up from 32nd in 2022, reflecting steady progress in its spatial sciences sector. Represented by the General Authority for Survey and Geospatial Information, the Kingdom ranked first in the Middle East and the Arab world, and sixth among G20 nations, in the index, according to a statement.
Saudi EXIM Bank’s credit facilities more than double to $8.93bn

1 day ago | arabnews.com | Reem Walid

RIYADH: The Saudi Export-Import Bank more than doubled its credit facilities in 2024, reaching SR33.53 billion ($8.93 billion), as the Kingdom ramps up efforts to boost non-oil exports to international and high-potential markets. The institution’s credit facilities rose 103.2 percent year on year, with disbursements for export financing reaching SR11.96 billion — up 70 percent from 2023.
ACWA Power secures $119m loan facility from Alinma Bank for new headquarters

2 days ago | arabnews.com | Reem Walid

RIYADH: Saudi utility giant ACWA Power has secured an SR750 million ($119 million) Shariah-compliant term loan facility from Alinma Bank to fund its new headquarters in Riyadh. The seven-year agreement reflects the bank’s confidence in the world’s largest private water desalination company, recognizing its strong financial position and strategic role in supporting the Kingdom’s Vision 2030 and energy transition goals, according to a statement.
Pakistan reassures IMF it will stay reform course on sidelines of IMF-World Bank meetings

2 days ago | arab.news | Nour El-Shaeri |Mohammed Al-Kinani |Reem Walid |Saima Shabbir

PepsiCo opens regional headquarters in Riyadh, unveils $8m R&D center /node/2597901/business-economy April 21, 2025 18:55 PepsiCo opens regional headquarters in Riyadh, unveils $8m R&D center RIYADH: Global beverage giant PepsiCo has opened its new Middle East regional headquarters in Riyadh’s King Abdullah Financial District, reinforcing the company’s long-term commitment to the region. Spanning 2,800 sq.
Davos meet founder Klaus Schwab quits as WEF chair

3 days ago | arab.news | Mohammed Al-Kinani |Reem Walid |Nirmal Narayanan |Miguel Hadchity

ZURICH: Klaus Schwab, founder of the World Economic Forum, whose annual gathering of business and political leaders in the Swiss mountain resort of Davos became a symbol of globalization, has resigned as chair of its trustees. The Geneva-based WEF made the announcement on Monday after revealing earlier this month that the 87-year-old Schwab, who for decades has been the face of the Davos get-together, would be stepping down, without giving a firm timeline.
Dubai inflation eases to 2.79% in March as housing, transport costs moderate

3 days ago | arabnews.com | Reem Walid

RIYADH: Dubai’s annual inflation rate eased in March, hitting its lowest level since October 2024, according to official data released by the Dubai Statistics Center. The inflation rate in the emirate slowed to 2.79 percent in March, down from 3.15 percent in February. The decline was primarily driven by a deeper deflation in food and beverage prices, which dropped by 3.34 percent year-on-year, compared to a 0.85 percent decline in the previous month.
Closing Bell: Saudi benchmark index edges up to close at 11,626

4 days ago | arabnews.com | Reem Walid

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 73.62 points, or 0.64 percent, to close at 11,626.60. The total trading turnover of the benchmark index was SR3.57 billion ($953 million), as 199 of the stocks advanced and 37 retreated. Similarly, the Kingdom’s parallel market, Nomu, gained 264.47 points, or 0.92 percent, to close at 28,978.19. This comes as 46 of the listed stocks advanced while 34 retreated.
Pakistan external account posts record monthly surplus, buoying investor confidence

1 week ago | arab.news | Mohammed Al-Kinani |Nirmal Narayanan |Reem Walid |Ismail Dilawar

Red Sea tensions slash Suez Canal revenue as Egypt pushes diplomatic path /node/2597453/business-economy April 17, 2025 15:34 Red Sea tensions slash Suez Canal revenue as Egypt pushes diplomatic path JEDDAH: Amid escalating tensions in the Red Sea, Egypt’s Prime Minister Mostafa Madbouly reaffirmed the country’s commitment to diplomatic solutions as disruptions to international shipping through the Suez Canal led to a dip in revenues.
Saudi Arabia’s date exports rise 15.9% in 2024, reaching $451m

1 week ago | arabnews.com | Reem Walid

RIYADH: Saudi Arabia’s date exports saw a 15.9 percent year-on-year increase in 2024, reaching SR1.695 billion ($451.7 million), according to newly released data from the National Center for Palms and Dates. In the same year, the Kingdom produced more than 1.9 million tonnes of dates, underscoring its significant role in the global date industry, the Saudi Press Agency reported.
Saudi Arabia sees 333% surge in private hospitality licenses amid tourism boom

1 week ago | arabnews.pk | Reem Walid

RIYADH: Saudi Arabia issued 8,357 licenses for private hospitality facilities in 2024, marking a 333 percent year-on-year surge as the Kingdom ramps up efforts to build a globally competitive tourism sector.