萝莉视频

Saudi industrial output rises 1.5% in May on mining, manufacturing gains: GASTAT

Saudi industrial output rises 1.5% in May on mining, manufacturing gains: GASTAT
Mining and quarrying activity rose by 2.1 percent compared to May 2024. Getty
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Saudi industrial output rises 1.5% in May on mining, manufacturing gains: GASTAT

Saudi industrial output rises 1.5% in May on mining, manufacturing gains: GASTAT

RIYADH: 萝莉视频鈥檚 industrial production expanded 1.5 percent year on year in May, driven by growth in mining, quarrying, and manufacturing activities, official data showed.聽

The Industrial Production Index reached 108.8 in May, rising 2.5 percent from April, according to preliminary figures from the General Authority for Statistics.聽

The latest IPI figure, reflecting continued growth in the manufacturing sector, underscores 萝莉视频鈥檚 progress in its economic diversification efforts aimed at reducing its decades-long reliance on crude revenues.聽

In its latest release, GASTAT stated: 鈥淧reliminary results indicate a 1.5 percent increase in the Industrial Production Index in May 2025 compared to the same month of the previous year, supported by the rise in mining and quarrying activity, manufacturing activity and water supply, sewerage and waste management and remediation activities.鈥澛

The release further added that the index of oil activities saw an annual rise of 0.5 percent in May, while non-oil activities increased by 3.8 percent.聽

In May, another report released by GASTAT revealed that the Kingdom鈥檚 gross domestic product grew by 2.7 percent year on year in the first quarter, driven by strong non-oil activity.聽

Commenting on the GDP figures at the time, Minister of Economy and Planning Faisal Al-Ibrahim, who also chairs GASTAT鈥檚 board, noted that the contribution of non-oil activities to the Kingdom鈥檚 economic output reached 53.2 percent 鈥 an increase of 5.7 percent from previous estimates.聽

According to the latest GASTAT report, the sub-index of manufacturing activities increased by 0.9 percent year on year in May.聽

This growth was driven by an increase in the manufacture of chemicals and chemical products, which rose by 14 percent, and the manufacture of food products, which increased by 3.2 percent.聽

GASTAT added that the sub-index of mining and quarrying activity rose by 2.1 percent compared to the same month of the previous year.聽

鈥溌芾蚴悠 increased its oil production to 9.18 million barrels per day in May 2025 compared to 8.99 million barrels per day in May 2024,鈥 added GASTAT.聽

The report further noted that electricity, gas, steam, and air conditioning supply activity recorded an annual decrease of 7.7 percent in May, while water supply, sewerage, and waste management and remediation operations rose by 15.5 percent during the same period.聽

On a monthly basis, manufacturing activity in 萝莉视频 increased by 2.3 percent, supported by growth in the production of coke and refined petroleum products, which rose by 1.9 percent.聽

Compared to April, mining and quarrying activities in 萝莉视频 also increased by 2 percent in May.聽

Overall, oil activities rose by 2 percent in May compared to the previous month, while non-oil activities increased by 3.9 percent during the same period.聽


Oil Updates 鈥 prices steady amid bearish Trump tariff outlook, weaker US dollar

Oil Updates 鈥 prices steady amid bearish Trump tariff outlook, weaker US dollar
Updated 10 sec ago

Oil Updates 鈥 prices steady amid bearish Trump tariff outlook, weaker US dollar

Oil Updates 鈥 prices steady amid bearish Trump tariff outlook, weaker US dollar
  • Threat of 50% tariffs on Brazil, copper cloud growth outlook
  • Weaker US dollar, US gasoline demand growth provide support
  • OPEC+ actual output unlikely to rise much, even with quota increases 鈥 analysts

SINGAPORE: Oil prices were steady on Thursday as investors weighed the potential impact of US President Donald Trump鈥檚 tariffs on global economic growth, while a weaker dollar and signs of strong US gasoline demand underpinned prices.

Brent crude futures were up 4 cents at $70.23 a barrel by 8:00 a.m. Saudi time. US West Texas Intermediate crude fell 1 cent to $68.37 a barrel.

On the demand side, macro uncertainty has led to a more cautious buying environment, particularly in Asia, said analytics firm Kpler in a note, while adding that geopolitical risk premiums have faded with the Israel-Iran ceasefire holding.

On Wednesday, Trump threatened Brazil, Latin America鈥檚 largest economy, with a punitive 50 percent tariff on exports to the US, after a public spat with his Brazilian counterpart Luiz Inacio Lula da Silva.

He has also announced plans for tariffs on copper, semiconductors and pharmaceuticals, and his administration sent tariff letters to the Philippines, Iraq and others, adding to over a dozen letters issued earlier in the week, including for powerhouse US suppliers South Korea and Japan.

As policymakers remain worried about the inflationary pressures from Trump鈥檚 tariffs, only 鈥渁 couple鈥 of officials at the Federal Reserve鈥檚 June 17-18 meeting said they felt interest rates could be reduced as soon as this month, the minutes released on Wednesday showed.

Higher interest rates make borrowing more expensive and reduce demand for oil.

Supporting oil prices, however, is a weaker US dollar in today鈥檚 Asia trading session, said OANDA senior analyst Kelvin Wong. A weaker dollar lifts oil prices by making it cheaper for holders of other currencies.

Also supporting prices, US crude stocks rose while gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday. Gasoline demand rose 6 percent to 9.2 million barrels per day last week, the EIA said.

Global daily flights were averaging 107,600 in the first eight days of July, an all-time high, with flights in China reaching a five-month peak and port and freight activities indicating 鈥渟ustained expansion鈥 in trade activities from last year, JP Morgan said in a client note.

鈥淵ear to date, global oil demand growth is averaging 0.97 million barrels per day, in line with our forecast of 1 million barrels per day,鈥 the note said.

Additionally, there is doubt the recent increase in production quotas announced by OPEC+ will result in an actual increase in production, as some members are already exceeding their quotas, said Tony Sycamore, an analyst at IG.

鈥淎nd others, like Russia, are unable to meet their targets due to damaged oil infrastructure,鈥 he said.

OPEC+ oil producers are set to approve another big output boost for September, as they complete both the unwinding of voluntary production cuts by eight members, and the UAE鈥檚 move to a larger quota.


CMA approves new rules to spur Saudi investment fund sector

CMA approves new rules to spur Saudi investment fund sector
Updated 09 July 2025

CMA approves new rules to spur Saudi investment fund sector

CMA approves new rules to spur Saudi investment fund sector

RIYADH: 萝莉视频鈥檚 Capital Market Authority has announced a package of regulatory enhancements aimed at strengthening the investment fund environment in the Kingdom, according to a press release issued on Wednesday.

The reforms, which involve amendments to the Investment Funds Regulations, Real Estate Investment Funds Regulations, and the glossary of terms used across CMA regulations, are designed to advance the regulatory framework governing investment funds.

The goal is to elevate the competitiveness of the asset management industry by identifying development opportunities, adopting international best practices, and enhancing transparency and governance.

The reforms reflect 萝莉视频鈥檚 broader efforts to deepen its capital markets and attract more local and international investment, in line with Vision 2030 economic diversification goals.

According to a CMA board decision, the updated rules will help expand and develop the investment fund and REIT sectors, increase transparency for unitholders, and improve investor protection through more robust governance standards.

Key reforms

One of the major changes includes broadening the categories of entities allowed to distribute investment fund units. Under the new rules, fund units may now be distributed via licensed investment platforms and e-money institutions approved by the Saudi Central Bank, including through their websites and mobile apps.

Additional reforms cover the procedures for fund termination and the removal of fund managers, as well as new guidelines for voluntary withdrawal by managers of both public and private funds.

A key requirement is obtaining CMA approval for such withdrawals, and ensuring that the outgoing fund manager transfers all management responsibilities to a successor within 60 days. This is aimed at safeguarding investor rights and ensuring a smooth transition process.

REIT flexibility in parallel market

In a move to expand investment opportunities and increase potential returns for investors, the CMA will now allow traded real estate investment funds listed on the parallel market to invest in real estate development projects at the time of fund establishment.

These investments will not be bound by the standard asset allocation ratios and restrictions previously outlined in the Real Estate Investment Funds Regulations.


Egypt鈥檚 annual urban consumer inflation at 14.9 percent in June, stats agency says

Egypt鈥檚 annual urban consumer inflation at 14.9 percent in June, stats agency says
Updated 09 July 2025

Egypt鈥檚 annual urban consumer inflation at 14.9 percent in June, stats agency says

Egypt鈥檚 annual urban consumer inflation at 14.9 percent in June, stats agency says
  • Urban food and beverage prices were down 1.2%

DUBAI: Egypt鈥檚 annual urban consumer price inflation slowed to 14.9 percent in June from 16.8 percent in May, data from statistics agency CAPMAS showed on Wednesday.

The drop in inflation is steeper than the median forecast of 15 analysts polled by Reuters, which had seen annual urban consumer inflation last month at 16.2 percent.

Urban food and beverage prices were down 1.2 percent overall compared to May 2025 but were up by 6.9 percent against June 2024, according to CAPMAS.

Urban inflation on a monthly basis inched down in June by 0.1 percent compared to May, as meat and poultry prices were down by 3.8 percent, fruits by 2.1 percent and vegetables by 1 percent, while the prices of bread and cereals were up by 0.3 percent and seafood by 0.8 percent.

Egypt鈥檚 annual inflation has plunged from a record high of 38 percent in September 2023, helped by an $8 billion financial support package agreed with the International Monetary Fund in March 2024. 


Most Gulf markets close higher shrugging off Trump鈥檚 tariff news

Most Gulf markets close higher shrugging off Trump鈥檚 tariff news
Updated 09 July 2025

Most Gulf markets close higher shrugging off Trump鈥檚 tariff news

Most Gulf markets close higher shrugging off Trump鈥檚 tariff news
  • 萝莉视频鈥檚 benchmark index eased 0.1%
  • Abu Dhabi index added 0.4%

LONDON: Most stock markets in the Gulf reversed early losses to close higher on Wednesday as investors appeared unfazed by the latest tariff threats from US President Donald Trump. 

Trump ramped up his trade offensive on Tuesday, announcing a 50 percent tariff on copper and renewed long-threatened levies on semiconductors and pharmaceuticals. He also reiterated plans to slap 10 percent tariffs on imports from Brazil, India, and other BRICS countries. 

萝莉视频鈥檚 benchmark index eased 0.1 percent, dragged down by a 3.1 percent slide in utilities heavyweight ACWA Power and a 0.9 percent decrease in oil giant Saudi Aramco.

In the UAE, Dubai鈥檚 main index gained 0.7 percent, hitting a fresh 17-year high, lifted by a 3.6 percent rise in Emirates Central Cooling Systems Corp. 

Emirates has signed a preliminary agreement with Crypto.com to accept payments through its platform. 

The UAE continues to grow as a regional hub for crypto firms, with several enabling crypto payments for real estate, tuition, and transport. 

Abu Dhabi index added 0.4 percent, posting its sixth straight session of gains. 

Abu Dhabi National Insurance Co. advanced 6.4 percent following regulatory approval to open a branch in India. 

Qatar鈥檚 benchmark index closed flat. 

Outside the Gulf, Egypt鈥檚 blue-chip index, which traded after a session鈥檚 break, finished 0.4 percent higher, with Commercial International Bank rising 0.6 percent higher. 

Egypt鈥檚 stock exchange suspended trading on Tuesday, citing ongoing disruptions affecting brokerage firms鈥 ability to communicate efficiently across the trading system, after a fire broke out on Monday in a telecoms data center in Cairo. 


Blacklane and EVIQ partner to expand EV charging network in 萝莉视频聽

Blacklane and EVIQ partner to expand EV charging network in 萝莉视频聽
Updated 09 July 2025

Blacklane and EVIQ partner to expand EV charging network in 萝莉视频聽

Blacklane and EVIQ partner to expand EV charging network in 萝莉视频聽
  • Initiative aims to support development of sustainable infrastructure, focusing on clean technologies
  • Deal includes development of dedicated charging stations for vehicle fleets

JEDDAH: Electric vehicle charging infrastructure is set to expand across 萝莉视频 following a strategic partnership between Blacklane and EVIQ, accelerating the Kingdom鈥檚 shift toward clean and sustainable mobility. 

Under the agreement, EVIQ 鈥 a joint venture between the Public Investment Fund and Saudi Electricity Co. 鈥 will collaborate with the international chauffeur-driven transport firm to support the expansion of the Kingdom鈥檚 EV charging network across key cities and mobility hubs, according to a press release. 

The initiative aims to support the development of sustainable infrastructure in line with Saudi Vision 2030, focusing on clean technologies and environmental responsibility. It also supports the Kingdom鈥檚 goal to transition 30 percent of vehicles in Riyadh to electric by 2030 and achieve net-zero emissions by 2060 鈥 a target it aims to reach ahead of schedule

Mohammed Bakr Gazzaz, CEO of EVIQ, said: 鈥淏y integrating national charging infrastructure with premium fleet operations, we aim to reinforce the foundation for a scalable, future-ready transport ecosystem aligned with 萝莉视频鈥檚 Vision 2030.鈥 

The deal includes the development of dedicated charging stations for vehicle fleets, most notably an integrated charging center at Blacklane鈥檚 new regional headquarters for the Gulf region in Riyadh. 

鈥淎s we rapidly scale operations across the nation, we鈥檙e thrilled to have EVIQ on-board to actively support our expanding electric fleet. Together we are setting new benchmarks for sustainable innovation and success,鈥 said Jens Wohltorf, CEO and co-founder of Blacklane. 

Blacklane will incorporate EVIQ鈥檚 public charging network into its operations in 萝莉视频 to support its growing electric vehicle fleet. Both companies also plan to explore opportunities for system integration aimed at improving network functionality and user accessibility. 

The partnership follows Blacklane鈥檚 recent introduction of Lucid electric vehicles into its Saudi fleet, as part of efforts to expand its EV offerings. EVIQ鈥檚 fast-charging network supports the company鈥檚 goal of enhancing its electric mobility services in the Kingdom, the release added. 

As part of the partnership, the companies will co-develop training programs under Blacklane鈥檚 Chauffeur Training Academy, focusing on EV charging best practices to support service quality, safety, and sustainability. 

Blacklane鈥檚 expansion in 萝莉视频 is backed by TASARU Mobility Investments, a wholly owned investment arm of PIF.