Press Dossier   By Date  28/08/2021
GCC banks’ loan books hit record high of $1.68t as economy rebounds
Banks in the GCC continued to post robust growth in lending activity, as economic recovery gathered pace during the second quarter resulting in record high loan books of $1.68 trillion, analysts at an investment bank said on Wednesday.
Saudis sign deals to advance work on Saudi-Korean village
The National Industrial and Developing Center (NIDC) has signed a cooperative agreement with the Saudi International Industrial Village Company (SIIVC) on Wednesday, to provide knowledge support for Korean investors, SPA reported.
Jadwa revises Saudi 2021 GDP growth higher as non-oil sector improves
Saudi Arabia’s economy will expand faster than previously forecast this year as non-oil industries continue their recovery from the pandemic, according to Jadwa Investment.
Saudi banks lead Gulf in loan growth as sector posts strong quarter
Saudi Arabian banks reported the Gulf’s biggest increase in net loans in the second quarter while return on equity surged for the Kingdom’s lenders as the region’s economy continued its rebound from the coronavirus pandemic.
UAE’s Emirates Global Aluminium considering IPO in 2022 — sources
Emirates Global Aluminium (EGA) is weighing a potential initial public offering next year, sources said, in what could be one of the biggest share sales in the United Arab Emirates in recent years.
UAE starts Unit 2 of Barakah Nuclear Power Plant
The Emirates Nuclear Energy Corporation said its operating and maintenance subsidiary, Nawah Energy Company has successfully started up Unit 2 of the Barakah Nuclear Energy Plant, located in Abu Dhabi’s Al Dhafra Region, Abu Dhabi Media Office said in a statement on Friday.
New Chinese deal to promote Saudi Arabia as tourist destination
The Saudi Tourism Authority (STA) has signed a memorandum of understanding (MoU) with Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group.
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