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Press Dossier   By Date  02/10/2023
Saudi Arabia issues 136 industrial licenses in August 2023
Saudi Arabia’s economic activity gained momentum with the Ministry of Industry and Mineral Resources issuing 136 industrial licenses in August compared to 102 in July.
Banks in GCC benefiting from strong operating conditions: Fitch Ratings
Banks in the Gulf Cooperation Council are currently reaping the benefits of robust operating conditions, driven by factors such as high oil prices, contained inflation, and rising interest rates, according to Fitch Ratings.
Saudi endowment investment funds exceed $133m in net assets
Saudi Arabia’s endowment investment funds have experienced significant growth, with the number of licensed funds increasing by 13 in 2023, reaching a total of 24, as reported by the General Authority of Awqaf.
Closing bell: Saudi main index closes lower at 11,040
Saudi Arabia’s Tadawul All Share Index closed lower on Sunday, slipping 15.79 points or 0.14 percent to finish at 11,040.17. The benchmark index saw a total trading turnover of SR4.08 billion ($1.08 billion) with 79 listed stocks advancing and 135 retreating.
S&P upgrades Oman’s credit rating to BB+ with stable outlook
In a new development signaling a shift in Oman’s economic landscape, global credit rating agency Standard & Poor has upgraded the nation’s long-term credit rating from “BB” to “BB+.”
UAE: Time to buy gold? Precious metal prices hit 7-month low
Gold prices continued their downward trend on the first trading day of the week, falling half-a-dirham per gram to a 7-month low at the opening of the markets on Monday.
How the Kuwaiti dinar maintains its stability
Despite global economic crises, the Kuwaiti dinar continues to stand as one of the most stable currencies worldwide.
Property sales drop, 50,000 flats vacant amid expat layoffs
The value of real estate sales in Kuwait declined during the third quarter of 2023 to KD 800 million, the lowest levels recorded since the third quarter of 2020.
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