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In "BUSINESS"
April 30, 2025
Will US tariff hikes affect Saudi Arabia?
April 30, 2025
Mawani and Alissa Universal Motors sign agreement worth SR300 million to establish Logistics Zone at King Abdulaziz Port in Dammam
Saudi Gazette reportRIYADH — Saudi Arabia’s stock market showed resilience in the first quarter of 2025 despite global volatility, with the Tadawul All Share Index (TASI) finishing the period nearly flat at -0.1%, according to Riyad Capital’s latest market report.The outlook for the remainder of the year remains positive, underpinned by expected earnings growth, steady IPO momentum, and robust non-oil economic activity.Riyad Capital forecasts low-to-mid single-digit growth for the Saudi market in 2025. The anticipated recovery will be supported by strong earnings from banks, telecom, media, and technology (TMT) sectors, healthcare, and newly listed firms. The analysts expect two interest rate cuts in the latter half of the year to further lift investor sentiment and market...
April 30, 2025
Saudi market shows resilience in Q1 2025 despite global volatility: Report
April 28, 2025
Mercedes-Benz and Juffali Automotive Company partner with EVIQ to drive Saudi Arabia’s Electric Mobility Transformation
HONOR, a leading global AI device ecosystem company, has officially opened its first flagship experience store in Saudi Arabia at Solitaire Mall, marking a significant step in its expansion across the Kingdom. The opening event attracted a wide range of attendees, including media representatives, brand partners, lifestyle and tech influencers, tech enthusiasts, and loyal HONOR fans, all eager to be part of this exciting milestone.HONOR’s latest store opening represents a key milestone in the brand’s strategic growth across the region, particularly in Saudi Arabia. This move aligns with HONOR’s vision to expand its footprint and deepen its presence within the Kingdom.On this occasion Jerry, Country Manager of HONOR Device KSA, commented: “For us, HONOR Experience Store represents...
April 28, 2025
HONOR KSA expands its presence with new flagship Experience Store in Riyadh
stc announced its preliminary financial results for the period ending March 31, 2025, highlighting strong performance across key metrics.Revenues for the first quarter reached SR19,210 million, an increase of 1.60% compared to the same quarter last year. Gross profit rose to SR9,098 million, marking a 5.01% increase year-on-year, while operating profit reached SR3,584 million, up 2.02%.Earnings before interest, taxes, zakat, depreciation, and amortization (EBITDA) climbed to SR6,120 million, reflecting a 5.25% growth compared to the comparable quarter last year.Net profit for the first quarter rose to SR3,649 million, an increase of 11.05%. In line with its dividends distribution policy approved by the General Assembly, stc announced a distribution of SR0.55 per share for the first quarter...
April 27, 2025
stc reports strong first-quarter 2025 results with 11% rise in net profit
Lubna S. Olayan, Chair of the Board of Directors of Saudi Awwal Bank (SAB), announced on Sunday the bank’s financial results for the period ending 31 March, 2025.For the first three months of 2025, SAB recorded net profit after zakat and income tax of SR2,135 million, representing a 5% year-on-year increase. Total operating income rose 5% to SR3,620 million.Lubna Olayan, Chair of SAB, commented: “Despite challenging global macroeconomic conditions, we remain confident in Saudi Arabia’s growth story and proud of SAB’s role in supporting growth through disciplined and quality focused funding.SAB achieved an 8% growth in total loans quarter-on-quarter, driven by robust retail loan growth of 6% and an 8% growth in corporate activity.Net loans and advances reached SR279 billion, marking...
April 27, 2025
Saudi Awwal Bank records SR2.1 billion net profit after zakat and income tax for 1Q25
April 27, 2025
Virgin Atlantic celebrates one month of nonstop service between London and Riyadh
April 24, 2025
Feast of Flavors and Prizes: LuLu Hypermarket kicks off the “World Food Festival” across Saudi Arabia
April 24, 2025
Saudi Awwal Bank signs SR2 billion credit facility with Saudi Binladin Group to propel development of King Fahd Sports City in Riyadh
