Finance Archives - The Arabian Buzz

UAE’s Al-Futtaim to Take Strategic 49.95% Stake in Saudi Retail Giant Cenomi

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UAE’s Al-Futtaim to Take Strategic 49.95% Stake in Saudi Retail Giant Cenomi RIYADH — Emirati conglomerate Al-Futtaim has agreed to acquire a 49.95 percent stake in Saudi Arabian retail franchiser Cenomi Retail, in a transaction valued at more than 2.5 billion Saudi riyals ($667 million), marking one of the largest cross-border retail investments in the

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KLM Restarts Flights to Israel, UAE and Saudi Arabia After Middle East Review

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KLM Restarts Flights to Israel, UAE and Saudi Arabia After Middle East Review AMSTERDAM — Dutch airline KLM has announced the resumption of flights to several Middle Eastern destinations, including Israel, the United Arab Emirates, and Saudi Arabia, following a reassessment of regional security conditions. In a statement issued late Saturday, KLM said it will

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Syria to Replace Old Banknotes in 2026 as New Government Moves to Stabilize Currency

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Syria to Replace Old Banknotes in 2026 as New Government Moves to Stabilize Currency Syria will begin swapping old banknotes for newly issued currency starting January 1, 2026, in a major monetary reform aimed at strengthening the value of the Syrian pound and restoring public confidence after years of economic collapse, the country’s central bank

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Saudi Crown Prince, Turkish President Erdogan Hold Strategic Talks in Riyadh

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Saudi Crown Prince, Turkish President Erdogan Hold Strategic Talks in Riyadh Saudi Crown Prince Mohammed bin Salman met with Turkish President Recep Tayyip Erdogan at Al Yamamah Palace in Riyadh on Tuesday, as the two countries moved to deepen cooperation across energy, defense, and regional security. According to the Saudi Press Agency, the Crown Prince

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Saudi Arabia Unveils $2bn Renewable Energy Investment to Power Turkey’s Solar Expansion

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Saudi Arabia Unveils $2bn Renewable Energy Investment to Power Turkey’s Solar Expansion Saudi Arabia has announced plans to invest around $2 billion in large-scale solar power projects in Turkey, marking the first phase of a broader bilateral agreement aimed at expanding renewable energy production between the two countries. Under an intergovernmental agreement signed in Riyadh

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US Rejects Iran’s Bid to Alter Talks as Diplomatic Standoff Deepens

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US Rejects Iran’s Bid to Alter Talks as Diplomatic Standoff Deepens The United States has rejected Iran’s request to change both the location and format of planned talks, a move that has further heightened tensions between the two longtime adversaries and raised concerns over possible escalation, according to a report published on Wednesday. Washington and

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Gold Surges Above $5,000 as US–Iran Tensions Fuel Safe-Haven Rush

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Gold Surges Above $5,000 as US–Iran Tensions Fuel Safe-Haven Rush Gold prices rebounded sharply on Wednesday, climbing back above the $5,000 mark as renewed geopolitical tensions between the United States and Iran reignited demand for safe-haven assets. Spot gold rose 2.9 percent to $5,082.94 per ounce by 0813 GMT, following a nearly 6 percent surge

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Iraq Loses Up to 4,500 MW as Iranian Gas Supplies Are Suddenly Cut

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Iraq Loses Up to 4,500 MW as Iranian Gas Supplies Are Suddenly Cut Iraq has confirmed that gas supplies from Iran have been completely halted, triggering a significant loss of power generation and adding pressure to the country’s already strained electricity system, the Ministry of Electricity said on Tuesday. In an official statement, the ministry

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US Claims Higher Returns on Venezuelan Oil Sales After Maduro’s Ouster

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US Claims Higher Returns on Venezuelan Oil Sales After Maduro’s Ouster WASHINGTON — The United States is securing significantly higher prices for Venezuelan crude oil than Caracas did just weeks ago, according to US Energy Secretary Chris Wright, highlighting a dramatic shift in control and pricing following recent political developments in Venezuela. Speaking at a

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Saudi Crown Prince and Putin Reaffirm Energy Cooperation in High-Level Call on Global Stability

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Saudi Crown Prince and Putin Reaffirm Energy Cooperation in High-Level Call on Global Stability Saudi Crown Prince Mohammed bin Salman held a telephone conversation on Tuesday with Russian President Vladimir Putin, during which the two leaders reviewed bilateral relations and discussed cooperation aimed at maintaining stability in global energy markets. According to the Saudi Press

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