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Press Dossier   By Date  13/10/2024
Saudi Arabia’s adoption of fintech makes it an ideal DeFi hub, experts say
Fintech experts believe Saudi Arabia is positioned to lead the regional landscape in decentralized finance, and also solve some challenges on the horizon.
Diamonds are a Saudi’s best friend as industry sparkles
In the past decade, Saudi Arabia’s diamond market has transformed from a niche luxury segment into a shining dynamic force within the global industry.
Kingdom arrests 22,993 illegals in one week
Saudi authorities arrested 22,993 people in one week for breaching residency, work and border security regulations, the Saudi Press Agency reported on Saturday.
NBK ECONOMIC REPORT
Leading indicators point to an economy growing at a subdued pace but possibly not far off a cyclical upturn. Admittedly, non-oil GDP growth was surprisingly strong in Q1 but this was skewed upwards by a base effect in the oil refining sector.
Interior arrests 165 in major campaign
The Interior Ministry on Thursday launched a major search campaign on Jleeb Al-Shuyoukh, where tens of thousands of expats live, arresting some 165 people for various violations.
Kuwait GDP to shrink by 3.2%
The Central Bank of Kuwait announced at the end of the mission of the International Monetary Fund (IMF) experts to the country that the path of economic recovery has slowed down and Kuwait’s real gross domestic product (GDP) recorded a contraction of 3.6 percent in 2023, expecting the contraction to record 3.2 percent in 2024.
Kuwait Airways revenues jump by 16% in 2023
Kuwait Airways Corporation (KAC) reported a 16 percent increase in revenue for 2023, reaching KD 335 million (about $1 billion), announced Board Chairman Abdulmohsen Alfagaan on Thursday.
KFAED and Children’s Cancer Center ink $2 million deal
The Kuwait Fund for Arab Economic Development (KFAED) signed on Thursday a fifth grant agreement with the Children’s Cancer Center in Lebanon worth two million dollars to contribute to the treatment of Syrian refugee children with cancer there.
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