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  • At London arms fair, global war fears good for business

    As Russia's Vladimir Putin and North Korean leader Kim Jong-un met this week to discuss what analysts believe will be a deal for an exchange of weapons, the West's leading companies were descending on Europe's biggest arms show in London. Since the last iteration of the biennial Defence and Security Equipment International (DSEI) in September 2021, Russia's invasion of Ukraine and dramatically increased tensions over Taiwan and North Korea have given a shot of adrenaline to arms manufacturers worldwide.

  • Saudi-India Investment Forum Builds On Business Impact Of G20 Summit

    India is Saudi Arabia’s second-largest trading partner, whereas the Kingdom is India’s fourth-largest. Bilateral trade reached an all-time high of $52.75 billion in 2022-23. At Monday’s investment forum, the two nations signed a comprehensive energy partnership deal at a time when India — the world’s third-largest oil importer — is looking to become a net exporter of renewable energy. India has targeted achieving 5 million tons of green hydrogen capacity annually, along with an additional 125 gigawatts of renewable energy capacity by 2030. India is also looking at having 500 GW of renewable energy capacity by the end of the decade.

  • Bank of America Beefs Up Mideast Business With HSBC, JPMorgan Hires

    Bank of America Corp. hired Abdulaziz Behery to lead its investment bank in Saudi Arabia and bolstered its Middle East equities business amid a continuing surge in regional deal activity. Behery is joining from HSBC Holdings Plc and will also be a managing director at BofA, while former JPMorgan Chase & Co. banker Bahaa Al Bustami has been named a vice president in equities sales, according to people familiar with the matter.

  • COP28 needs to show action not words for business, finance leaders

    Less talk and more action on decarbonising the energy system should be the main focus of world leaders at the next round of climate talks, speakers at the Reuters IMPACT conference said. November's COP28 conference in Dubai is seen as a crucial opportunity for governments to accelerate action to limit global warming and preserve nature, yet to-date most countries are nowhere close to reaching net-zero carbon emissions.

  • Saudi non-oil business activity softens in August as output slows sharply-PMI

    The expansion in non-oil business activity in Saudi Arabia, the world's top oil exporter, eased further in August after output growth slowed sharply, a business survey showed on Tuesday, as concerns over market competition weighed on confidence. The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers' Index fell for a second consecutive month, dropping to 56.6 from 57.7 in July, although remaining firmly in growth territory. It was the lowest reading since September 2022.

  • Spain’s La Liga challenges Gulf states’ business model

    The Gulf’s impact on European and world soccer could be determined by the outcome of a complaint to the European Commission by Spain’s top soccer league, La Liga. The complaint asserts alleged Qatari state aid to Qatar-owned Paris Saint-Germain (PSG) distorts European Union markets by paying above market sums for top players. La Liga President Javier Tebas has frequently cited the example of the US$260 million PSG paid for Brazilian player Neymar in 2017 and US$160 million last year to retain Kylian Mbappé. Earlier this month, Neymar transferred to Saudi Arabia’s Al Hilal for US$100 million.

  • How the Saudi Business Community is Shaping Global Business Collaboration

    The B20 in India aims to “RAISE” five distinct elements in the discussion at this year’s forum, including Responsibility, Acceleration, Innovation, Sustainability, and Equitable businesses. During a time when global challenges threaten both public and private sectors, the B20 meetings are a critical opportunity for Saudi Arabia to stand in alignment with the global business community. Further, by participating in and leading these dialogues, we have the opportunity to serve as a consistent voice for Saudi Arabia among key leaders.

  • Slowdown in new work orders impacted Saudi’s non-oil business growth in July

    Saudi Arabia's non-oil private sector maintained its strong performance in July thanks to favourable local economic conditions. However, overall growth has lost momentum since June, reflecting the slowest rise in new work orders over the last seven months. At 57.7 in July, the Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI) was down from 59.6 in June and the lowest since December 2022. The latest reading was slightly above the long-run survey average (56.9) and signalled strong underlying business conditions, despite the slowdown since June. The rise in new work was the slowest for seven months, according to the PMI data.

  • Saudi Arabia, UAE lead Forbes’ 2023 Arab family business ranking

    Although Saudi Arabia and the UAE dominated the list, with 33 and 29 of the top 100 spots respectively, Egypt’s Mansour Group sat in first place, with the UAE’s Al-Futtaim Group in second and Saudi Arabia’s only female-led company, Olayan Financing Company, at third.

  • Saudi Arabia, UAE lead Forbes’ 2023 Arab family business ranking

    Although Saudi Arabia and the UAE dominated the list, with 33 and 29 of the top 100 spots respectively, Egypt’s Mansour Group sat in first place, with the UAE’s Al-Futtaim Group in second and Saudi Arabia’s only female-led company, Olayan Financing Company, at third.