Trends - Saudi Arabia Economy - Business Recorder

Saudi Arabia Economy

Saudi Arabia’s GDP grows by 2.8% in third quarter

Saudi Arabia’s economy grew 2.8% in the third quarter from the same period a year earlier, supported by an increase...

Published 08 Dec, 2024 12:27pm

World

Saudi Arabia abandons pursuit of US defence treaty over Israel stalemate

RIYADH: Saudi Arabia has abandoned its pursuit of an ambitious defence treaty with Washington in return for...

Published 29 Nov, 2024 08:21pm

World

Saudi Arabia agrees metals deals worth over $9 billion

RIYADH: Saudi Arabia on Tuesday agreed nine investment deals in metals and mining worth more than 35 billion riyals...

Published 26 Nov, 2024 07:36pm

World

Saudi Arabia approves 2025 budget with total deficit of $26.9bn

RIYADH: Saudi Crown Prince Mohammed bin Salman on Tuesday approved the country’s budget for 2025, state media...

Published 26 Nov, 2024 07:28pm

Opinion

Reimagining KSA: tradition, technology, and global leadership

The Kingdom of Saudi Arabia (KSA), traditionally known for its deep Islamic roots, conservative social norms, and...

Updated 12 Nov, 2024 07:27am

Markets

Saudi Arabia’s PIF, Hong Kong’s HKMA looking to anchor $1bn investment fund

DUBAI: Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), and the Hong Kong Monetary Authority...

Published 31 Oct, 2024 06:20pm

World

Saudi minister says reforms ‘on track’ despite ‘challenges’

RIYADH: Saudi Arabia’s finance minister said Wednesday that the Gulf kingdom’s sweeping plans to wean its economy...

Published 30 Oct, 2024 02:43pm

World

Global financiers head to Riyadh investment bash in shadow of war

DUBAI: Global financiers are poised to flock to Saudi Arabia’s annual flagship investment conference next week as a...

Published 24 Oct, 2024 08:32pm

World

IMF lowers Saudi Arabia’s 2024 growth forecast to 1.5%

ABU DHABI: The International Monetary Fund further lowered its GDP growth forecast for Saudi Arabia for 2024 to 1.5%...

Published 22 Oct, 2024 07:06pm

Business & Finance

Oil-rich Saudi projects budget deficit through 2027

RIYADH: The Arab world’s biggest economy Saudi Arabia announced Monday it anticipates a budget deficit of 2.3...

Published 02 Oct, 2024 06:19am

World

Saudis agree $3.2bn deal to buy South Korean missile defence system

SEOUL: South Korean defence firm LIG Nex1 has won a $3.2 billion deal to export a mid-range surface-to-air missile...

Published 06 Feb, 2024 05:32pm

World

Saudi Arabia budget records surplus of $4.27bn in 2023

DUBAI: The Saudi Arabia 2023 budget recorded a surplus of 16 billion riyals ($4.27 billion) compared to the...

Published 05 Feb, 2024 06:17pm

World

South Korea, Saudi Arabia sign agreement on defence cooperation

SEOUL: South Korea and Saudi Arabia on Sunday signed a memorandum of understanding to expand defence cooperation,...

Published 05 Feb, 2024 12:07pm

World

IMF cuts Saudi Arabia’s 2024 GDP forecast amid lower oil production

DUBAI: The International Monetary Fund lowered its 2024 forecast for economic growth in Saudi Arabia to 2.7% on...

Published 30 Jan, 2024 06:29pm

World

Saudi Arabia still considering BRICS membership

DAVOS: Saudi Arabia is still considering an invitation to become a member of the BRICS bloc of countries after being...

Published 18 Jan, 2024 09:04pm

World

Saudis could recognise Israel if Palestinian issue resolved: foreign minister

At WEF, Prince Faisal says securing regional peace through creation of Palestinian state is 'something we have been indeed working on with the US administration, and it is more relevant in the context of Gaza'

Updated 16 Jan, 2024 09:36pm

World

Saudi Arabia says focused on all kinds of energy, not just oil

RIYADH: Saudi Arabia is taking climate change issues seriously and has shifted its focus to all kinds of energy, not...

Published 10 Jan, 2024 03:21pm

Markets

Saudi Arabia allocates $182mn for mineral exploration incentives

RIYADH: Saudi Arabia has created a mineral exploration incentive programme with a budget of over $182 million, the...

Updated 10 Jan, 2024 03:18pm

Markets

Saudi Arabia cuts Feb Arab Light crude price to Asia to 27-month low

SINGAPORE: Top oil exporter Saudi Arabia on Sunday cut the February price of its flagship Arab Light crude to Asian...

Updated 07 Jan, 2024 09:19pm

World

Three months in, deaths mount and diplomats vie to stop Gaza war's spread

OCCUPIED JERUSALEM/AMMAN: Top international diplomats discussed strategies for keeping the Gaza war from spreading...

Updated 07 Jan, 2024 10:02pm

World

Saudi Arabia estimates 2024 financing needs at $23bn

DUBAI: Saudi Arabia estimates financing needs of about 86 billion riyals ($22.93 billion) in 2024 under a borrowing...

Published 04 Jan, 2024 06:00pm

World

Saudi non-oil business activity expands in Dec, new orders jump

DUBAI: Non-oil business activity in Saudi Arabia grew solidly in December, a survey showed on Wednesday, with new...

Published 03 Jan, 2024 10:03am

Markets

Saudi Arabia likely to extend additional supply cuts to Q1 2024: Energy Aspects

SINGAPORE: The world’s top oil exporter, Saudi Arabia, is expected to extend its additional voluntary supply cuts to...

Published 15 Nov, 2023 08:18pm

Markets

New orders lift Saudi non-oil business activity growth to 4-month high

DUBAI: Growth in non-oil business activity in Saudi Arabia accelerated for a second consecutive month in October, a...

Published 05 Nov, 2023 10:27am

Business & Finance

Saudi non-oil GDP seen at around 6pc in 2023 and beyond: minister

RIYADH: Saudi Arabia’s non-oil gross domestic product (GDP) is expected to grow by around 6 percent this year, the...

Published 30 Oct, 2023 05:24am

World

First hydrogen train in Middle East to begin trials next week, Saudi energy minister says

RIYADH: Saudi Arabia’s Minister for Energy Prince Abdulaziz bin Salman said on Sunday that the first hydrogen train...

Published 08 Oct, 2023 01:30pm

Markets

Saudi Arabia to continue voluntary cut of one million bpd

DUBAI: Saudi Arabia on Wednesday said it would continue with its voluntary oil output cut of one million barrels per...

Published 04 Oct, 2023 02:26pm

World

New business helps rebound in Saudi non-oil activity in Sept

DUBAI: Growth in non-oil business activity in Saudi Arabia accelerated in September from an 11-month low the...

Published 03 Oct, 2023 10:16am

Markets

Saudi Arabia to tap international debt markets as deficits return

RIYADH: Saudi Arabia is expected to tap the international debt markets to finance a projected budget deficit in...

Published 01 Oct, 2023 05:25pm

World

Macron seeks to sway Saudi’s MBS on Ukraine in Paris talks

PARIS: French President Emmanuel Macron on Friday hosts Saudi Arabia’s Crown Prince Mohammed bin Salman for talks in...

Published 16 Jun, 2023 12:34pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Dec 12	278.30
USD PKR Interbank Buying / Dec 12	278.05
USD to Japanese Yen / Dec 12	152.50
USD to Swiss Franc / Dec 12	0.89
Pound Sterling to USD / Dec 12	1.28
Euro to USD / Dec 12	1.05

Stock	Volume
S&P 500 / Dec 11	6,084.19
Nasdaq / Dec 11	20,034.89
Dow Jones / Dec 11	44,148.56
India Sensex / Dec 12	81,594.11
Tokyo Nikkei / Dec 12	39,849.14
Hang Seng / Dec 12	20,397.05
FTSE 100 / Dec 12	8,316.75
Germany DAX 30 / Dec 12	20,437.69

Item	Value
Gold 10 Grams PKR / Dec 11	240,484
Petrol/Litre / Dec 12	252.10
Crude Oil USD/Barrel / Dec 12	70.60
Karachi Cotton PKR/37.32 KG / Dec 12	17,585
Gold Spot USD/Ounce / Dec 12	2,718.02
Diesel/Litre / Dec 12	258.43

Gainers
Losers
Leaders

Stock	Price
Pak Int.Bulk / Dec 12 Pakistan International Bulk Terminal(PIBTL)	9.07 ▲ 1.00 (12.39%)
Burj Clean Energy Modaraba / Dec 12 Burj Clean Energy Modaraba(GEM)(GEMBCEM)	9.50 ▲ 0.90 (10.47%)
Treet Corp / Dec 12 Treet Corporation Limited(TREET)	22.29 ▲ 2.03 (10.02%)
Data Agro / Dec 12 Data Agro Limited(DAAG)	95.10 ▲ 8.65 (10.01%)
Gharibwal Cement / Dec 12 Gharibwal Cement Limited(GWLC)	50.78 ▲ 4.62 (10.01%)
Quetta Textile / Dec 12 Quetta Textile Mills Limited(QUET)	19.79 ▲ 1.80 (10.01%)
Arpak Int. / Dec 12 Arpak International Investments Ltd.(ARPAK)	69.38 ▲ 6.31 (10.00%)
BF Biosciences / Dec 12 BF Biosciences Limited(BFBIO)	207 ▲ 18.82 (10.00%)
Biafo Ind. / Dec 12 Biafo Industries Limited(BIFO)	173.12 ▲ 15.74 (10.00%)

Stock	Price
Al-Khair Gadoon / Dec 12 Al-Khair Gadoon Limited(AKGL)	39.78 ▼ -4.42 (-10.00%)
Blue-Ex Ltd / Dec 12 Blue-Ex Limited (GEM)(GEMBLUEX)	30.11 ▼ -3.34 (-9.99%)
Jahangir Sidd(Pref) / Dec 12 Jahangir Sidd(Pref)(JSCLPSA)	9 ▼ -0.99 (-9.91%)
Hussain Industries / Dec 12 Husein Industries Limited(HUSI)	18.78 ▼ -1.97 (-9.49%)
Leather Up Ltd. / Dec 12 Leather Up Limited(LEUL)	21.86 ▼ -2.26 (-9.37%)
Crescent Cotton / Dec 12 Crescent Cotton Mills Limited(CCM)	55 ▼ -5.31 (-8.80%)
Sanghar Sugar / Dec 12 Sanghar Sugar Mills Limited(SANSM)	31.01 ▼ -2.95 (-8.69%)
Supernet Ltd. / Dec 12 Supernet Limited (GEM)(GEMSPNL)	14.26 ▼ -1.29 (-8.30%)
Nimir Resins / Dec 12 Nimir Resins Limited(NRSL)	24.50 ▼ -2.17 (-8.14%)

Stock	Volume
WorldCall Telecom / Dec 12 Worldcall Telecom Limited(WTL)	155,305,170 ▲ 0.16
K-Electric Ltd. / Dec 12 K-Electric Limited(KEL)	135,915,842 ▼ -0.09
Pak Int.Bulk / Dec 12 Pakistan International Bulk Terminal(PIBTL)	70,262,631 ▲ 1.00
Cnergyico PK / Dec 12 Cnergyico PK Limited(CNERGY)	66,755,725 ▲ 0.12
Fauji Foods Ltd / Dec 12 Fauji Foods Limited(FFL)	57,124,498 ▲ 0.20
Lotte Chemical / Dec 12 Lotte Chemical Pakistan Limited(LOTCHEM)	54,841,208 ▲ 0.91
Sui South Gas / Dec 12 Sui Southern Gas Company Limited(SSGC)	38,560,585 ▲ 2.02
Treet Corp / Dec 12 Treet Corporation Limited(TREET)	29,458,401 ▲ 2.03
Symmetry Group / Dec 12 Symmetry Group Limited(SYM)	28,765,598 ▲ 1.41

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Saudi Arabia Economy

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