| Saturday 31 May, 2025 8:36 am

Saudi Arabia awards exploration license for Jabal Sayid 3 site

The Ministry of Industry and Mineral Resources awarded an exploration license for Jabal Sayid 3 to a consortium of Polyus Mining Co. and TransOceanic Mineral Co.   The site is part of Saudi Arabia’s first mineralized belts.   In a post on X, the ministry said the...

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Government | Saturday 31 May, 2025 8:29 am

Saudi Arabia to maintain current pace of govt spending: Al-Jadaan

Saudi Arabia intends to maintain its current pace of government spending despite widening budget and current account deficits, as well as rising public debt, Finance Minister Mohammed Al-Jadaan has said.   Al-Jadaan added that he is not concerned about the fiscal deficit reaching up...

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Environment & Energy | Saturday 31 May, 2025 8:23 am

Saudi Aramco to maintain borrowing for growth; debt remains lowest among peers: CEO

Saudi Arabian Oil Co. (Saudi Aramco) is targeting more borrowing to finance growth and better leverage its balance sheet, CEO Amin Nasser said, adding that the oil giant will continue to tap bond markets moving forward.   In an interview with Bloomberg TV, the top executive indicated ...

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Business & Money | Saturday 31 May, 2025 8:18 am

Upgrade of 30% of Saudi plants to generate SAR 250B returns: Official

Khalil Salamah, Vice Minister of Industry Affairs, said the upgrade of 30% of Saudi Arabia’s factories will generate an economic return of up to SAR 250 billion, Al-Eqtisadiah newspaper reported.   He added that the upgrade requires significant financial investments, noting that...

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Government | Saturday 31 May, 2025 8:14 am

Digital economy accounts for 15.6% of Saudi GDP in 2023: GASTAT

The digital economy accounted for 15.6% of Saudi Arabia's GDP in 2023, marking a 1.6% increase compared to 2022, according to the Digital Economy Statistics Bulletin 2023 issued recently by the General Authority for Statistics (GASTAT). As for the structure of the digital economy, the core...

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Business & Money | Saturday 31 May, 2025 5:23 am

Hong Kong aims to deepen partnership with Saudi Arabia: Minister

Hong Kong finance chief Paul Chan said the city seeks to strengthen its partnerships with the Middle East, especially Saudi Arabia. During his participation in the Capital Markets Forum, attended by Argaam, Chan referred to growing cooperation with Riyadh, Abu Dhabi, and Dubai in the fields of ...

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Business & Money | Thursday 29 May, 2025 12:55 pm

Al Fanar Gas Group, Siemens Energy sign strategic MoU to collaborate on clean energy, decarbonisation

Al Fanar Gas Group, the energy arm of EHC Investment, has signed a strategic Memorandum of Understanding (MoU) with Siemens Energy, to jointly advance decarbonisation and clean energy innovation across the UAE. The agreement, signed on the sidelines of the World Utilities Congress 2025 in Abu...

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Business & Money | Thursday 29 May, 2025 12:46 pm

Mubadala, TAQA complete transaction for purchase of power plant in Uzbekistan

Mubadala, the Abu Dhabi sovereign investor, and Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities in Europe, the Middle East and Africa, have completed the acquisition of a gas-fired power generation plant at the Talimarjan Power Complex in...

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Business & Money | Thursday 29 May, 2025 12:44 pm

UAE, EU continue talks on Comprehensive Economic Partnership Agreement

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, welcomed Maroš Šefčovič, EU Commissioner for Trade and Economic Security, to the UAE for ongoing talks regarding the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the EU. The visit also included...

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Business & Money | Thursday 29 May, 2025 12:42 pm

Ferrero Rocher and Raffaello Tablets Outperform in Groundbreaking Indulgence Study

Dubai, UAE — As part of their regional launch in the GCC, Ferrero Rocher and Raffaello Tablets, brands synonymous with indulgence, have taken a bold step into the world of science to redefine how we experience indulgence. Their mission? To measure indulgence in numbers, delivering tangible proof...

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