萝莉视频

萝莉视频鈥檚 real GDP grows 4.4%: GASTAT

萝莉视频鈥檚 real GDP grows 4.4%: GASTAT
According to flash estimates from the General Authority for Statistics, the Kingdom鈥檚 non-oil activities grew by 4.6 percent year on year in the fourth quarter, reflecting ongoing efforts to diversify the economy. shutterstock
Short Url
Updated 30 January 2025

萝莉视频鈥檚 real GDP grows 4.4%: GASTAT

萝莉视频鈥檚 real GDP grows 4.4%: GASTAT

RIYADH: 萝莉视频鈥檚 real gross domestic product saw an annual expansion聽of聽4.4 percent in the fourth quarter of 2024, marking its highest growth in two years, official data showed.

According to flash estimates from the General Authority for Statistics, the Kingdom鈥檚 non-oil activities grew by 4.6 percent year on year in the three months to the end of December, reflecting ongoing efforts to diversify the economy.

The report also noted that oil activities rose by 3.4 percent in the fourth quarter compared to the same period in 2023, while government activities expanded by 2.2 percent.

萝莉视频鈥檚 GDP growth aligns with the broader Middle East trend, where countries are steadily advancing economic diversification.

The UAE鈥檚 central bank projects 4 percent GDP growth in 2024, while Bahrain and Qatar reported year-on-year expansions of 2.1 percent and 2 percent, respectively, in the third quarter. Qatar鈥檚 full-year GDP grew by 1.7 percent, driven by a 1.9 percent rise in non-hydrocarbon activities.

Reflecting on the Saudi figures, GASTAT said: 鈥淭he results also showed that seasonally adjusted real GDP increased by 0.3 percent in the fourth quarter of 2024 compared to the third quarter of the same year.鈥澛

Strengthening the non-oil sector remains a key goal under the Kingdom鈥檚 Vision 2030 as efforts continue to reduce the聽dependence on oil revenues and drive sustainable economic growth.

Compared to the third quarter, non-oil activities in the Kingdom grew by 1.3 percent, while government activities rose by 0.3 percent. However, oil activities witnessed a quarterly decline of 1.5 percent.

For the full year 2024, 萝莉视频鈥檚 GDP expanded by 1.3 percent compared to 2023. This increase was primarily driven by a 4.3 percent rise in non-oil activities, underscoring the Kingdom鈥檚 focus on economic diversification.

Government activities recorded a 2.6 percent annual increase, while oil activities contracted by 4.5 percent due to OPEC+ output cuts, which have impacted production levels.

Earlier this month, the International Monetary Fund projected that 萝莉视频鈥檚 economy will grow by 3.3 percent in 2025 and 4.1 percent in 2026. These numbers reflect shifts in the global economic landscape, with oil production adjustments playing a key role in influencing near-term growth expectations.

A December report from Mastercard Economics also highlighted the robust expansion of 萝莉视频鈥檚 non-oil sector. The analysis forecast that the Kingdom鈥檚 GDP will grow by 3.7 percent year on year in 2025, largely driven by increased non-oil activities.

The Mastercard report added that economic diversification efforts will remain a priority in 2025, with the government leveraging its strong fiscal position to finance infrastructure development and new investment opportunities.


Closing Bell: Saudi main index slips to close at 10,945聽

Closing Bell: Saudi main index slips to close at 10,945聽
Updated 8 sec ago

Closing Bell: Saudi main index slips to close at 10,945聽

Closing Bell: Saudi main index slips to close at 10,945聽

RIYADH: 萝莉视频鈥檚 Tadawul All Share Index slipped on Thursday, falling 38.13 points, or 0.35 percent, to close at 10,945.80. 

The total trading turnover of the benchmark index reached SR4.92 billion ($1.31 billion), with 112 stocks advancing and 137 declining. 

The Kingdom鈥檚 parallel market Nomu gained 120.10 points, or 0.45 percent, to close at 26,898.25. A total of 49 listed stocks advanced, while 24 retreated. 

The MSCI Tadawul Index also edged down, losing 3.66 points, or 0.26 percent, to close at 1,408.07. 

The best-performing stock of the day was Saudi AZM for Communication and Information Technology Co., whose share price surged 9.96 percent to SR29.14. 

Other top performers included Northern Region Cement Co., which saw its share price rise 6.29 percent to SR8.11, and Obeikan Glass Co., which climbed 6.20 percent to SR37.

Sport Clubs Co. recorded the most significant drop, falling 7.34 percent to SR10.22. 

Gulf Union Alahlia Cooperative Insurance Co. also saw its share price decline by 4.56 percent to SR14.22. 

National Medical Care Co. dropped 3.51 percent to close at SR164.80. 

On the announcements front, Electrical Industries Co. released its interim financial results for the period ending June 30.

According to a Tadawul statement, the company recorded a net profit of SR260 million during the first six months of the year, reflecting a 47.9 percent rise compared to the same period a year earlier. The increase in net profit was attributed to a broader product mix and higher sales of items with stronger profit margins. 

Electrical Industries Co. ended the session at SR8.99, down 2.21 percent. 

Alinma Bank also announced its interim financial results for the first half of the year. A bourse filing revealed that the company recorded a net profit of SR3.08 billion in the period ending June 30, up 12.8 percent year on year.

This increase was primarily linked to growth in total operating income. Net income rose as operating income expanded by 8.5 percent, driven mainly by higher returns from financing and investments, along with increased fee and foreign exchange income. 

The bank also announced the board of directors鈥 recommendation to distribute SR746 million in cash dividends to shareholders for the second quarter of 2025.

According to a Tadawul statement, the total number of shares eligible for dividends stood at 2.4 billion, with a dividend per share of SR0.30 after the deduction of Zakat. The dividend represented 3 percent of the share鈥檚 par value. 

Alinma Bank closed the session at SR26.38, down 1.60 percent. 


萝莉视频 signs $6.4bn investment deals with Syria to boost reconstruction

萝莉视频 signs $6.4bn investment deals with Syria to boost reconstruction
Updated 12 min 17 sec ago

萝莉视频 signs $6.4bn investment deals with Syria to boost reconstruction

萝莉视频 signs $6.4bn investment deals with Syria to boost reconstruction

RIYADH: 萝莉视频 has signed investment deals worth $6.4 billion with Syria, marking a significant step in the Kingdom鈥檚 efforts to re-engage economically with the war-ravaged country and support its reconstruction drive. 

The agreements, spanning sectors such as real estate, telecommunications, and finance, were unveiled by Investment Minister Khalid Al-Falih during the Syrian-Saudi Investment Forum held in Damascus on July 25. 

The forum highlights 萝莉视频鈥檚 strong commitment to strengthening Syria鈥檚 financial landscape. In April, the Kingdom joined Qatar in settling the country鈥檚 $15 million debt to the World Bank. 

鈥淒uring this forum, we will witness the signing of 47 agreements and memoranda of understanding with a total value approaching SR24 billion ($6.4 billion), said Al-Falih. 

The deals include $1.07 billion in the telecommunications sector, with Syria鈥檚 Ministry of Communications and several Saudi telecom companies aiming to deepen bilateral ties. 

Companies involved in the plans include Saudi Telecom Co., GO Telecom, digital security firm Elm, cybersecurity company Cipher, and education technology firm Classera. 

In the real estate and infrastructure sectors, deals worth $2.93 billion were announced, including the construction of three new Saudi-financed cement plants to support Syria鈥檚 reconstruction efforts. 

The two nations also agreed to enhance cooperation in agriculture. 

鈥淚n the agricultural sector, we look forward to collaborating in Syria to develop high-quality joint projects, including model farms and processing industries,鈥 said Al-Falih. 

In finance, a memorandum of understanding was signed between the Saudi Tadawul Group and the Damascus Securities Exchange to boost cooperation in the fintech sector. 

Al-Falih also announced the formation of a Saudi-Syrian Business Council, which is expected to further strengthen trade and economic ties between the two countries. 

Speaking at a separate panel discussion during the forum, Al-Falih said Syria is evolving into a more investment-friendly destination, despite ongoing challenges. 

鈥淪yria is leaping forward as an investment-attractive country despite all challenges. Since the beginning of its new era, we have witnessed a genuine desire to provide investment opportunities for Saudi businessmen,鈥 he added.


Al-Ansar, Al-Kholood, and Al-Zulfi football clubs offered in first聽wave of Saudi IPOs聽

Al-Ansar, Al-Kholood, and Al-Zulfi football clubs offered in first聽wave of Saudi IPOs聽
Updated 22 min 25 sec ago

Al-Ansar, Al-Kholood, and Al-Zulfi football clubs offered in first聽wave of Saudi IPOs聽

Al-Ansar, Al-Kholood, and Al-Zulfi football clubs offered in first聽wave of Saudi IPOs聽

RIYADH: 萝莉视频鈥檚 Ministry of Sport has announced the privatization of three football clubs 鈥 Al-Ansar, Al-Kholood, and Al-Zulfi 鈥 marking the first set of teams offered to the public through initial public offerings. 

The move represents a significant milestone in the Kingdom鈥檚 initiative to open the sports sector to private investment and ownership. The IPOs also follow a broader privatization program launched last August.

The ownership of the three clubs will transfer to private entities: Al-Zulfi to Nujoum Al-Salam, Al-Kholood to Harburg Group, and Al-Ansar to a joint venture between Audat Al-Biladi and Ayana. 

The ministry, in cooperation with the National Center for Privatization, carried out the transfers after completing regulatory requirements and corporate restructuring, the authority stated.

鈥淭he National Center for Privatization carried out the necessary procedures to establish club companies and transfer their ownership to the new owners,鈥 the statement said. 

In parallel, the ministry announced that the submission window for the acquisition of Al-Nahda Club has closed, although the evaluation process is still ongoing. Some investment entities requested an extension, and the ministry confirmed it is still reviewing these proposals. 

The body affirmed its commitment to ensuring the success of the privatization process, stating that 鈥渋t is keen to ensure the success of the privatization process and to confirm that the submitted offers serve the interests of the clubs and their sporting future, contribute to advanced models, and achieve the strategic objectives of the project.鈥 

It also noted that 鈥渢he other entities interested in acquiring clubs (notably Al-Orobah and Al-Washm) did not meet the required procedures and conditions for acquisition.鈥 

Furthermore, the ministry announced that applications are now open for those wishing to acquire other Saudi sports clubs. 

Interested parties can apply via the ministry鈥檚 official website, where they will undergo a multi-stage process including qualification screening, financial analysis, and competitive bidding.


Pakistan central bank has room to slash interest rate by 100bps by December 鈥 analysts

Pakistan central bank has room to slash interest rate by 100bps by December 鈥 analysts
Updated 31 min 33 sec ago

Pakistan central bank has room to slash interest rate by 100bps by December 鈥 analysts

Pakistan central bank has room to slash interest rate by 100bps by December 鈥 analysts
  • Central bank鈥檚 Monetary Policy Committee to meet on July 30 to announce policy rate
  • Rate cut to reduce financing costs, boost productivity and support recovery, says analyst

KARACHI: Pakistan鈥檚 central bank has room to slash the key interest rate by 100 basis points by December, financial analysts said on Thursday, noting that the move would reduce financing costs and boost productivity in the country.

The central bank鈥檚 Monetary Policy Committee (MPC) is scheduled to hold its meeting on July 30 to decide about the key interest rate. A majority of financial market participants expect the central bank to cut its key interest rate by 50 to 100 basis points next week, as per a report by Karachi-based brokerage firm Topline Securities. A majority, 56 percent, expect a 50 to 100 basis points rate cut next week, the report said while thirty-seven percent expect the policy rate to remain unchanged at 11 percent.

The findings reflect growing market confidence that declining inflation and easing global oil prices have created space for monetary easing. In its last meeting, the State Bank of Pakistan (SBP) kept the policy rate unchanged at 11 percent, citing uncertainty over the federal budget and regional tensions in the Middle East. This time, a stronger consensus appears to be building toward a rate cut.

鈥淲e are expecting inflation to average 5-7 percent in FY26, leaving a room of a total of 100 basis points cut in our view after adjusting it for real rate of 400 basis points,鈥 Shankar Talreja, Topline Securities鈥 head of research, told Arab News.

Talreja said he expected the SBP to announce a policy rate cut of 50 basis points when it meets next week.

鈥淲e are expecting the policy rate to bottom out at 10 percent by December 2025,鈥 he said.

Shahid Ali Habib, the chief executive officer at brokerage research firm Arif Habib Ltd., said he also expected the interest rate to be slashed by 50 basis points. The SBP has slashed the key policy rate by an aggressive 11,000 points from a record 22 percent over the last one year, as inflation eases in the South Asian country.

鈥淎 rate cut now could reduce financing costs, boost productivity and support recovery after a modest 2.68 percent GDP growth in FY25,鈥 Habib said.

The expectations come as Prime Minister Shehbaz Sharif鈥檚 government aims to increase the GDP of Pakistan鈥檚 debt-ridden economy by 4.2 percent this year, up from the 2.7 percent last fiscal year.

Backed by the International Monetary Fund鈥檚 $7 billion loan, Pakistan鈥檚 economy has stabilized in recent months with inflation ebbing to 3.2 percent in June and the current account showing a surplus of $328 million last month.

Pakistan鈥檚 easing inflationary pressures have been the main driving force behind the central bank鈥檚 aggressive policy rate cuts. Habib said Pakistan鈥檚 macroeconomic situation was improving, saying that he sees FY26 inflation averaging on 5.4 percent and core inflation at around 8 percent this fiscal year.

However, Talreja said the decline in borrowing costs could be a 鈥渘on-event鈥 for Pakistan鈥檚 booming stock market, which has already factored in the expected change.

Pakistani stocks have risen 19 percent since January with the benchmark KSE-100 Index hitting a record 140,585 points during intraday trading last week, according to the Pakistan Stock Exchange data.

鈥淭he majority of the impact is already taken by the markets, the treasury bills are trading at 10.7 percent which already incorporates around 50 basis points cut,鈥 Talreja noted.

Talreja said if slashed further, the policy rate will nonetheless provide some respite to businesses as the cost of financing will further come down.

鈥淗onestly, either 50 or 100 basis points won鈥檛 matter significantly as we have already eased over 11,00 basis points in the last one year,鈥 the analyst said.


Saudi economy minister holds global talks to boost bilateral ties, economic cooperation

Saudi economy minister holds global talks to boost bilateral ties, economic cooperation
Updated 49 min 46 sec ago

Saudi economy minister holds global talks to boost bilateral ties, economic cooperation

Saudi economy minister holds global talks to boost bilateral ties, economic cooperation

RIYADH: 萝莉视频鈥檚 Minister of Economy and Planning is intensifying global engagement through a series of high-level meetings aimed at strengthening bilateral relations and economic cooperation with key international markets.

On the sidelines of the UN鈥檚 High-level Political Forum on Sustainable Development 2025, Faisal Al-Ibrahim met with his Ethiopian counterpart, Fitsum Assefa, to discuss enhancing bilateral economic, commercial, and investment ties and other topics of mutual interest, according to a statement.

This supports the ministry鈥檚 goal to advance Vision鈥2030 by fostering economic diversification, attracting investment, and strengthening the national economy.

Its main priorities include crafting long-term strategies, aligning policies to ensure sustainable growth, and identifying strategic opportunities, as well as promoting data-driven policymaking, enhancing economic expertise, and building institutional capacity.

In a post on X, the ministry noted: 鈥淢inister of Economy and Planning meets with Peter Szijjarto, Minister of Foreign Affairs and Trade of Hungary, to discuss strengthening trade and development ties between the two countries, and other topics of common interest, on the sidelines of HLPF25.鈥

Al-Ibrahim also met with Ireland鈥檚 Minister for Climate, Environment, and Energy, and Minister for Transport, Darragh O'Brien, to review enhancing collaboration in economic policy, trade, and development, as well as exploring potential investment opportunities under Saudi Vision 2030.

He also held talks with the Minister for Regional Development of the Czech Republic, Petr Kulhanek, to discuss regional and infrastructure development, sharing best practices in sustainable growth, and exploring opportunities for economic expansion.

Additionally, the minister held talks with Beatriz Carles de Arango, Minister of Social Development of Panama, to explore collaboration on sustainable development, social protection strategies, and advancing shared priorities for human capital investment.

鈥淚 had the pleasure of meeting Mohammad Ishaq Dar, Deputy Prime Minister and Minister for Foreign Affairs of Pakistan at HLPF25, to discuss deepening bilateral economic ties, enhancing public policy coordination, and promoting sustainable growth,鈥 Al-Ibrahim said on his X account.

The minister also met with Larry Fink, chairman and CEO of BlackRock, to explore expanding investment opportunities in the Kingdom.