Saudi Central Bank Slashes Rates by 50 bps

Saudi Arabia’s Central Bank announced Wednesday it slashed the repurchase agreement (repo) rate by 50 basis points to 5.50 percent, and the reverse repo rate by 50 basis points to 5.00 percent.

A statement from the bank said the move comes in line wi…

SEDD showcases services at Sharjah Investment Forum

SHARJAH: The Sharjah Economic Development Department (SEDD) is taking part in the seventh Sharjah Investment Forum (SIF 2024), organised by the Sharjah FDI Office, “Invest in Sharjah.”

The forum, focused on a futuristic vision for smart economies, of…

Korea’s auto exports fall 4.3% in August

SEOUL: The Republic of Korea’s car exports fell 4.3 percent on-year in August, data showed Thursday, although robust shipments of hybrid models limited the overall decline.

Yonhap News Agency quoted the Ministry of Trade, Industry and Energy as sayin…