WASHINGTON: The US ratings agency Moody’s downgraded Israel’s credit rating Friday due to the impact of its ongoing conflict with Hamas in Gaza, lowering it by one notch from A1 to A2. In a statement, Moody’s said it had done so after assessing that “the ongoing military conflict with Hamas, its aftermath and wider consequences … Read more
CAIRO: Saudi Arabia’s startup ecosystem ranked first in regional venture funding activities in 2023, amassing an unprecedented $1.38 billion in capital. This achievement positioned the Kingdom at the forefront of venture capital funding in the Middle East and North Africa, surpassing the $1 billion mark for the first time, as reported by MAGNiTT in their … Read more
RIYADH: Trade ties between the Kingdom and Turkiye are set to improve after the Saudi EXIM Bank inked credit deals worth $51 million with two financial institutions in the country. Under the terms of the first contract with Turkiye Finans Katilim Bankasi, the designated amount is set at $26 million, while the second agreement with Albaraka Turk Katilim … Read more