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    Ministry signs agreement to support Oman’s honey industry

    Ministry signs agreement to support Oman’s honey industry

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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    Azerbaijan, Iraq discuss prospects of relations

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    Oman inks pack to bolster role of SMEs in food systems

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    MAFWR, Port of Duqm sign MoU

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      Egypt’s Trade minister, Hungarian ambassador discuss economic relations

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      Turkey eyes $5bn bilateral trade with Qatar

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      Iraq set to award new Faw Port deals

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      Deal signed to set-up first factory in Qatar to assemble electric vehicles

      Railway line to be built between Mosul, Turkey: governor of Nineveh

      Railway line to be built between Mosul, Turkey: governor of Nineveh

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      Local, Italian companies partner up to establish food retail chain in Egypt

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      Madayn working on major Oman industrial city projects

      Madayn working on major Oman industrial city projects

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      Foundation stone laid for new 700-bed hospital is Salalah, Oman

      Iraq set to award new Faw Port deals

      Iraq set to award new Faw Port deals

      Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

      Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

      Miral’s premier Abu Dhabi waterfront project work on track

      Miral’s premier Abu Dhabi waterfront project work on track

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      Aecom wins Neom utilities infrastructure design contract

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        Investments in renewables in Egypt reach LE6 bn: Official

        Investments in renewables in Egypt reach LE6 bn: Official

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        JGC lands $3.7bn Iraq refinery upgradation project deal

        JGC lands $3.7bn Iraq refinery upgradation project deal

        Tadweer opens phase 2 of solar power plant at Al Dhafra

        Tadweer opens phase 2 of solar power plant at Al Dhafra

        France to help Iraq generate electricity, will invest in education, science: Macron

        France to help Iraq generate electricity, will invest in education, science: Macron

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        Acwa Power inks finance deals for 900MW Dubai solar park

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          Coronavirus: UAE conducting human trials for Covid-19 vaccine

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          UAE sends medical aid to Iraq to fight COVID-19

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          UAE launches phase III trial of inactivated Covid vaccine

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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          Saudi to be among world’s big leisure tourism hubs by 2030

          Qatar’s hospitality sector peaks despite turbulent 2020

          Qatar’s hospitality sector peaks despite turbulent 2020

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

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          Staycations to stimulate Qatar’s hospitality sector

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          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

          MAFWR, Port of Duqm sign MoU

          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Madayn working on major Oman industrial city projects

            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

            Aecom wins Neom utilities infrastructure design contract

            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                Coronavirus: UAE conducting human trials for Covid-19 vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                GSK to develop plant-based COVID-19 vaccine with Canada’s Medicago

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Loans portfolio for Saudi banks exceed $266.6 billion mark

              Arab News

              May 17, 2013
              in Finance
              0

              Saudi banks continue to support the macroeconomic conditions by providing the necessary financing for local businesses. The depositary base reached an all-time high at SR 1.29 trillion, increasing 12.5 percent on an annual basis. The pace of growth has been stable and supportive of local banks' financing expansions, according to a report by the National Commercial Bank (NCB).

              The majority of deposits are demand based with a share of 62.4 percent as they climbed 18.9 percent Y/Y during March. Businesses and individuals hold 92.5 percent of demand deposits while government entities make up the remaining 7.5 percent portion. However, government entities have recorded a staggering hike of 76.2 percent Y/Y to reach SR 60.3 billion, more than doubling the level reached by the end of 2011.

              Bank wide time and savings deposits recorded the slowest growth rate over the past six months at 1.7 percent annually. Government entities added 12.5 percent to reach SR 140.0 billion, a figure which is likely to grow further over the coming months, while businesses and individuals withdrew 5.8 percent of their time and savings deposits. Additionally, other quasi-monetary deposits grew by 6.6 percent annually as foreign currency deposits increased by 5.1 percent Y/Y and outstanding remittances posted a record high by climbing 50.8 percent annually during the month of March.

              The NCB report said combined loans portfolio for local banks reached an all-time high during March at SR 1.04 trillion, a 15.8 percent gain over March 2012. The pace of credit growth in the Saudi economy continues to soften by recording the third consecutive deceleration. The current rate of growth is far below the exceptional levels seen in 2004-2005 periods where annual growth reached near 40 percent or the 2007-2008 periods where rates reached as high as 34.9 percent Y/Y during August 2008.

              Local banks' efforts to expand their maturity curve remains evident by the rise in medium and long term credit. Credit maturing within one year, short term credit, posted its slowest growth in eleven months at 5.6 percent Y/Y. Meanwhile, medium term credit added SR 40.9 billion over the past twelve months, a 26.7 percent increase on an annual basis. Furthermore, long-term credit, which mainly focuses on larger projects and corporations expanded by a substantial 32.6 percent annually to reach SR 291.7 billion by the end of the first quarter of 2013.

              The credit portfolio of Saudi banks continues to be largely compromised of the commerce sector which holds 20.4 percent of banks' total financing, SR 212.5 billion. The commerce sector recorded a relatively modest growth at 12.2 percent Y/Y as other sectors gain momentum due to the efforts of the government to diversify the Saudi economy.

              Additionally, the vast projects in mining and quarrying have been captured by local banks as the sector recorded the highest annual growth at 59.0 percent with projects such as Maaden and Alcoa's aluminum refinery worth SR 5.6 billion and Hanwha's gold processing plant worth SR 1 billion. The only sector to post a decline was the transport and communication which dropped by 14.4 percent as the Haramain railway project shifts beyond the financing phase. The healthy growth in lending this year and the stable pace of deposits has taken the loans to deposits ratio to 80.5 percent in March from 79.3 percent last December. The NCB report said credit is likely to maintain the current trajectory as banks are still below SAMA's (Saudi Arabian Monetary Agency's) limitations and the economy remains robust and absorbent of excess financing.
              Arab News
              16 May

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