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  • Saudi Fintech Firm Rasan Plans to Sell 30% Stake in Riyadh IPO

    Saudi Arabian fintech firm Rasan intends to sell a 30% stake in its Riyadh initial public offering, making it one of the first companies from the sector to go public in the kingdom.

    Rasan and its investors will offer 22.7 million shares in the IPO, including 5.3 million new shares, according to a statement on Sunday. Bookbuilding for institutional investors will run from May 12 through May 16, while retail investors will be able to bid from May 29 to May 30.

  • Over 80 Saudi Companies Showcase their Products at the Saudi National Products Exhibition in Qatar

    More than 80 Saudi companies in the industrial, food, health and commercial sectors will participate in the first edition of the Saudi National Products Exhibition, scheduled to take place in the State of Qatar from May 13 to 16.

  • Crown Prince to grace Arab Forum of Anti-Corruption Agencies on May 15 in Riyadh

    Saudi Crown Prince and Prime Minister Mohammed bin Salman will patronize the Arab Forum of Anti-Corruption Agencies and Financial Intelligence Units in Riyadh on May 15-16.

    Around 600 experts and 75 speakers from 25 countries and a dozen organizations from within the Kingdom and abroad will participate in the forum, to be organized by the Presidency of State Security and the Oversight and Anti-Corruption Authority (Nazaha). The forum would include workshops, special meetings, and the launch of a number of initiatives and signing of agreements.

  • Saudi Arabia sees 30% drop in work injuries

    Saudi Arabia’s commitment to occupational safety and health has seen the rate of work-related injuries in the Kingdom drop from 416 to 288 injuries per 100,000 workers, over the past few years, marking a notable 30.7 percent decrease. At the same time, the compliance rate among establishments with occupational safety and health standards has risen to 71.27 percent.

  • Saudi Arabia Posts Budget Deficit as Capex Spending Climbs

    Saudi Arabia recorded a sixth straight quarterly budget deficit as increased spending on capital expenditure and other areas outpaced growth in revenue.

    The shortfall stood at 12.4 billion riyals ($3.3 billion) in the first quarter, more than four times higher than a year ago, according to a statement from the Ministry of Finance on Sunday. On a quarterly basis, the deficit eased from about 37 billion riyals at the end of 2023.

  • EU announces 1 billion euros in aid for Lebanon amid a surge in irregular migration

    The European Union announced Thursday an aid package for Lebanon of 1 billion euros — about $1.06 billion — much of which will go to boost border control to halt the flow of asylum seekers and migrants from the small, crisis-wracked country across the Mediterranean Sea to Cyprus and Italy.

  • F-15EX ‘Dogfights’ Eurofighter, Rafale Aircraft For Big, Fat Saudi Deal; Can Boeing Outdo Airbus & Dassault?

    With three options on the table, there is also conjecture that the kingdom might take the Qatar route and make its fleet more diverse by adding Rafales to the mix of its existing fleet comprising the F-15SA and the Eurofighter Typhoons. Although the officials in the kingdom have not officially acknowledged their interest in the French Rafale or the Airbus Eurofighter, a potential acquisition of either of these fighters may come as yet another setback to the US arms industry, which is believed to be steadily losing ground to European and even Chinese and Russian arms manufacturers in the Middle Eastern region.

  • U.S. tells Qatar to evict Hamas if it obstructs Israeli hostage deal

    Secretary of State Antony Blinken delivered the message to Prime Minister Mohammed bin Abdulrahman Al Thani in April, according to the official, who like others interviewed for this report spoke on the condition of anonymity to discuss sensitive conversations.

  • U.S. Shuffles Military Assets in Middle East After Gulf Pushback

    The U.A.E. informed the U.S. in February that it would no longer permit American warplanes and drones based at Al Dhafra air base in Abu Dhabi to carry out strikes in Yemen and Iraq without notifying Emirati officials ahead of time. That has prompted U.S. commanders to send the additional aircraft to Al Udeid air base in Qatar, the small Persian Gulf monarchy that hasn’t imposed similar restrictions, U.S. officials said.

  • Saudi Arabia’s private sector workers grow to 11.3M in April

    The total number of workers in the Saudi private sector reached 11.27 million in April 2024, the National Labor Observatory said.   The total number of nationals working in private-sector entities stood at 2.36 million in the same month, of which male and female workers accounted for 1.39 million and 970,240, respectively. Meanwhile, the number of expats working in the private sector reached 8.92 million.   Meanwhile, a total of 18,540 Saudis joined the private sector workforce for the first time.

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