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  • Saudi Arabia’s best international Islamic bank: HSBC Saudi Arabia

    The bank topped the league tables on sukuk issuances by value, with a 19.5% share of the market. It extended a total of $11.85 billion in financing in 2023.

  • Goldman Sachs first Wall Street bank to get green light for Saudi Arabia HQ

    Goldman Sachs has reportedly become the first Wall Street bank to obtain a license to open a regional headquarters in Saudi Arabia, as the kingdom deepens its financial markets amid sweeping economic reforms. The US-headquartered investment bank received a license from the Saudi Ministry of Investment to set up its regional headquarters in Riyadh, the capital, Bloomberg reported Thursday.  

  • Saudi Arabia bans imports from 20 automakers

    The Saudi Standards, Metrology and Quality Organization and the Saudi Ports Authority also known as Mawani banned 20 automakers’ products. The decision was made after the automakers failed to submit their supply plan for the current year 2024 within the allotted time. Until these automakers submit their supply plan for 2024—which they can submit no later than the end of this year—Saudi car agents will be temporarily prohibited from importing new light vehicles, weighing no more than 3.5 tons, from these manufacturers.

  • Introducing Saudi Arabia’s first nightclub where booze is banned and it costs £1,900 to get in! Revellers dance the night away at members-only ‘sovereign wealth fund-backed’ Beast House

    Beast House, found in Riyadh’s artistic Jax District, a vibrant hub for artists and creatives, has been hailed as the start of 'a new life' by excited revellers. While DJs, chic interiors and the opportunity for socialising are all present at the music venue, alcohol remains forbidden, with mocktails served at the bar instead and bouncers on hand to enforce the no-booze rules, according to The Times.

  • In Saudi Arabia, an all-women psychedelic rock band jams out as its conservative society loosens up

    “We didn’t know how people would react,” said Meesh, the band's bassist, who like other members asked to be identified by their stage names. “We believe strongly in self-expression. To our surprise, they really had open arms for us.”

    The band's name, Seera, can mean “life” or “biography” in Arabic. Band members say they try to embrace the multiple meanings one can draw from a word in the language in its sound, whether through the driving drums and cymbals or the synthesizer backing the guitars.

  • In Saudi Arabia, an all-women band rocks out as society loosens up: Video

    In Saudi Arabia's capital, Seera - an all-women psychedelic rock band that blends traditional Arabic melodies with the resurgent psychedelia of bands like Tame Impala - expresses itself through the arts

  • Saudi experts on urban heritage give lectures in Paris

    Experts on urban heritage from Saudi Arabia are giving a series of lectures on the topic at the UN Educational, Scientific and Cultural Organization offices in Paris. Organized by the Saudi Heritage Commission, the program of four lectures explores some of the initiatives developed by the organization and the wider strategies on urban heritage in the Kingdom, the Saudi Press Agency reported. The first lecture delved into material and intangible methods for preserving urban heritage, while the second looked at the development of traditional architecture in Al-Ahsa.

  • Israeli strike on Lebanon kills four Hezbollah fighters, security sources say

    An Israeli air strike on a car in southern Lebanon killed four people on Thursday, according to Lebanon’s civil defense, with security sources saying those killed were members of armed group Hezbollah. The conflict between Hezbollah and Israel has rumbled on since October in parallel to the Gaza war, with an escalation this week as both sides intensified their bombardment, fueling concern of a bigger war between the heavily-armed adversaries.

  • Saudi Banks Profit from Rising Lending, Deposit Volumes

    Financial analysts connect the 8.2% increase in net profits for Saudi banks in the first quarter of 2024 to strong lending, higher demand for loans, and increased deposits. They point out that rising interest rates in recent years have boosted bank profits, especially from long-term loans with fluctuating interest rates. By the end of the first quarter of 2024, the top 10 Saudi banks listed on the Saudi stock market (Tadawul) saw their combined net profits rise by 8.2 percent, reaching about 18.65 billion Saudi riyals ($5 billion).

  • Saudi Banks Profit from Rising Lending, Deposit Volumes

    Financial analysts connect the 8.2% increase in net profits for Saudi banks in the first quarter of 2024 to strong lending, higher demand for loans, and increased deposits. They point out that rising interest rates in recent years have boosted bank profits, especially from long-term loans with fluctuating interest rates. By the end of the first quarter of 2024, the top 10 Saudi banks listed on the Saudi stock market (Tadawul) saw their combined net profits rise by 8.2 percent, reaching about 18.65 billion Saudi riyals ($5 billion).