DARK SECRETS: Faisal alibrahim | Rare Historical Photos

Saudi Banks Safe from Troubled US Banks

Ayman Al-Sayari, Governor of Saudi Central Bank (SAMA), ruled out any transactions between Saudi banks and troubled US banks, affirming that the Kingdom’s banking sector enjoys capital adequacy and reassuring liquidity. Al-Sayari spoke with Al-Arabiya TV on the sidelines of the Financial Sector Conference in Riyadh when he added that…

Asharq Al-Awsat · Mar 17, 2023

Saudi Arabia Aims to Boost National Automotive Industry

The Saudi Ministry of Industry and Mineral Resources signed a memorandum of understanding with Hyundai Motor Company to promote the automotive industry in the Kingdom. The MoU was signed in the presence of the Minister of Industry and Mineral Resources, Bandar al-Khorayef, and the Minister of Economy and Planning, Faisal…

Asharq Al-Awsat · Jan 1, 2023

Saudi Economy Grows by 8.8% in Third Quarter

The General Authority for Statistics announced on Sunday that Saudi Arabia’s economy grew by 8.8 percent in the third quarter of 2022. This growth was driven by the rise of oil-related activity by 14.2 percent, and non-oil activities by 6 percent, while government activities recorded a growth of 2.5 percent…

Asharq Al-Awsat · Dec 12, 2022