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RIYADH: Saudi Arabia’s manufacturing capacity is expected to boost with China’s Baoshan Iron and Steel Co. announcing its plans to invest SR15 billion ($4 billion) on a project in Ras Al-Khair’s new economic zone. The Shanghai-based company, one of the world’s largest steelmakers, will manufacture metal plates in the zone, it announced at an event in Riyadh on Monday. The
RIYADH: Affirming Saudi Arabia’s evolution into a global trade hub, total anchor investments in its four special economic zones reached SR19.6 billion ($5.2 billion) to date, it was disclosed at a forum. Apart from the existing investments made by companies like Lucid and Seera, the Saudi Special Economic Zones Investment Forum in Riyadh on Monday also saw new investment
FDI in renewable and alternative power grew strongly in 2021, as the impacts of Covid-19 started to recede.
RIYADH: Saudi Arabia’s main stock market, Tadawul, gained on Sunday as it reopened after the Eid break amid a rise in oil prices. TASI, the main index, added 0.6 percent to 13,820 points, while the parallel market Nomu dropped 1.5 percent to 23,547 points. Elsewhere in the Gulf, stock exchanges of Qatar, Bahrain, Oman, and Kuwait all edged down. Egypt, on the other hand,