The Global Entrepreneurship Conference (GEC) in Riyadh witnessed, in its second day, agreements and launches with a total value of SR28.9 billion ($7.71 billion), designed to support entrepreneurship in various fields.
Monsha’at signed a memorandum of understanding with Amazon to enable local companies to sell their products to millions of customers across the Kingdom on the Amazon Saudi Arabia store.
RIYADH: Ten Saudi-listed banks, which comprise the majority of the Kingdom’s banking sector, recorded higher earnings in 2021 from a year earlier, thanks to low provisions for credit losses and pandemic rebound. Led by Saudi Arabia’s largest valued bank, Al Rajhi Bank, the aggregate annual profit of the ten banks soared over 60 percent on the year to as high as SR49 billion
RIYADH: Saudi East Pipes Integrated Co. for Industry, or East Pipes, obtained a Shariah-compliant working capital financing worth SR500 million ($133 million) from Bank Albilad. The proceeds will be used to “finance the working capital of one the company’s projects”, the Dammam-based company said in a bourse filing.
RIYADH: Saudi stocks ended higher in the past week, despite a downturn in global markets as traders shunned in light of the ongoing Ukraine-Russia conflict. At Thursday’s closing bell, TASI closed 0.8 percent higher at its highest value in years of 12,756 points, gaining over 2 percent on the week. The parallel market, Nomu, dropped 0.8 percent to 24,767. Other Middle Eastern