Saudi Arabia Financial News

The Saudi Arabian government has launched a metaverse platform to display the country’s cultural heritage, including history, arts, and crafts.

By Robert Harvey and Alex Lawler

propaganda is almost as effective and persuasive as real propaganda, a team of researchers have found after a study involving more than 8,000 US adults. They also warned that propagandists could use artificial intelligence (AI) to expose citizens to many articles, thereby increasing the volume of propaganda and making them harder to detect. For the study, researchers at the Stanford University and the Georgetown University in the US identified six English language articles, which, according to investigative journalists and the research community, likely originated from Iranian or Russian state-aligned covert propaganda campaigns.

Kerala has emerged as the frontrunner in India's healthcare talent migration to the Middle East and North Africa (MENA) region, especially the United Arab Emirates (UAE). The demand in the UAE alone witnessed a 3.3-fold increase in 2023, according to data from blue-collar worker platform Huntr. Kerala, Tamil Nadu, and Andhra Pradesh stand out as major contributors to the migration of healthcare professionals, including nurses, doctors, and laboratory technicians, to MENA countries. Particularly, the migration from Kerala to the UAE experienced a significant surge in 2023, as highlighted in the report. The data, sourced from the Huntr platform and employer organizations in the Middle East spanning 2022 and 2023, indicates a shifting trend in the healthcare landscape of the region. The preferred destinations for Indian healthcare professionals seeking job opportunities are reported to be the UAE, Saudi Arabia, and Qatar.

₹1,699 crore exposure to global chipmaker Nvidia, which became the world’s fourth largest company by market capitalization after its quarterly earnings beat analyst expectations. The stock clocked one-day gains of 16% on Thursday, driven by optimism around artificial intelligence (AI), as Nvidia’s chips play a crucial role in developing AI models. According to Fisdom estimates, Motilal Oswal MF had ₹439 crore exposure to Nvidia.

Sandip Sabharwal, asksandipsabharwal.com, says “the market is becoming tougher and tougher, that is the issue, because whatever you held and you thought it should move up, those stocks have moved up too much. On the largecap side, Maruti still has legs and could go higher. L&T after the correction on the Saudi Aramco postponement of orders, could, as that has corrected 10% from the top and that could open with some upside. On the midcap side, we have bought V-Guard Industries. It is at the same level. It has not moved at all because people are not yet confident in the consumer durable story. That looks like a reasonable low volatility bet to me.” Sabharwal also says: «We own M&M, Maruti, as well as Tata Motors, and we continue to hold and have no intention of selling in the near term.» With all that is happening with NVIDIA stellar moves, largest single day gain in history. What is it that you are making of tech in particular and the kind of strides that we have made here? Sandip Sabharwal: Technology is a great story, but in innovative companies which exist either in the private space in India or in countries like US, Korea, etc.

My11Circle, RuPay, Angel One, and Ceat have bagged sponsorship slots for the Indian Premier League (IPL) for a cumulative sum of ₹1,485 crore, people privy to the development told ET. Three out of four winners have bid for five years until 2028 while RuPay has bid for a three-year deal ending in 2026. The bids were submitted to the Board of Control for Cricket in India (BCCI) on Wednesday.

Red Sea. Whereas, trade in sectors like metals and textiles are the least affected sectors because of the Red Sea crisis. Also Read: Red Sea crisis: Canada asks Beijing to influence Houthis, 'It's in China's interests' The report pointed out that a sustained disruption in trade routes may lead to extended delays in the delivery of goods, hence impacting players within the capital goods sector.

World Bank warned that high borrowing costs have «changed dramatically» the need for developing nations to boost sluggish economic growth. The multilateral lender's latest warning comes as international bond sales from emerging market governments hit an all-time record of $47 billion in January, led by less risky emerging economies such as Saudi Arabia, Mexico and Romania.

NTA) has announced that the National Eligibility cum Entrance Test for Undergraduate (NEET-UG) will be conducted at exam centres in 14 foreign cities on May 5. This decision comes after requests from aspirants, as the initial information bulletin for the exam did not mention centres outside India. «It has been decided that the exam will also be conducted in 14 foreign cities in 12 countries,» said NTA Senior Director (Exams) Sadhna Parashar. According to NTA Senior Director (Exams) Sadhna Parashar, the exam will be conducted in 12 countries, including cities like Dubai, Abu Dhabi, Sharjah (UAE), Kuwait City (Kuwait), Bangkok (Thailand), Colombo (Sri Lanka), Doha (Qatar), Kathmandu (Nepal), Kuala Lumpur (Malaysia), Lagos (Nigeria), Manama (Bahrain), Muscat (Oman), Riyadh (Saudi Arabia), and Singapore.

₹1.64 trillion for fertilizer subsidy. India already has entered into long-term agreements with Morocco, Senegal, Israel, Oman, Canada, Saudi Arabia and Jordan in the past two years as part of this playbook. Though India is moving toward gaining self-sufficiency in urea, it still depends on imports to meet its rock phosphate demand.

Unicommerce is expanding its overseas operations by onboarding more clients, a top official said on Tuesday. Unicommerce is already serving 46 clients in Singapore, the Philippines, Indonesia, the UAE, and Saudi Arabia and is now expanding these operations by adding more clients. Some of its clients in these markets include the UAE-based fashion brand Redtag, the Philippines-based kids' wear brand Edamama and the UAE-based logistics player RSA Global.

The number of passengers flying through Dubai International Airport has surged in the last year beyond its total for 2019 — just before the coronavirus pandemic grounded global aviation

France on the top. India slipped one rank down from last year to 85th even as the countries with visa-free access to its citizens increased to 62 from 60 in 2023. The rank of crisis hit Pakistan stood the same as last year on 106 while Bangladesh's slipped from 101 in 2023 to 102 this year.

₹129 per share, with a face value of ₹10 per share. The issue price is 12.90 times of the face value of the equity share. The SME IPO is a a fixed price issue of ₹29.26 crores.

While major indexes like the Nasdaq and S&P 500 have seen a relatively stagnant performance this week, several individual stocks have bucked the trend, achieving significant gains.

Tata Motors and Mahindra are worth more in market capitalization than Maruti Suzuki, and may also outsell it in the auto sector. Diversity: Atmanirbharta or self-reliance means India has companies in many sectors (rather than a few selected for competitive advantage), diverse consumer markets (mass production with localization) and a large services sector (with higher employment elasticity than manufacturing).

Icra Ltd expects India’s monthly trade deficit to stand at about $20 billion–$25 billion in the remaining months of FY24, resulting in a current account deficit of around 2.5% of GDP in Q3 and 1.7% of GDP in Q4FY24. “The exports dipping by 5% and imports dropping by 7% in first 10 months of the fiscal is largely an outcome of global slowdown and drop in commodity prices as well.

Also Read: Wall Street Regains Footing After CPI-Fueled Rout: Markets Wrap Customers face shortages of Nvidia's top-of-the-line components while AI developers face months-long waiting lists to use its processors through cloud-computing providers, Reuters reported. Technology-related companies, including Microsoft and Meta Platforms, have also rallied to record highs on AI optimism.

Hamas. PM Modi met with UAE leader Sheikh Mohammed bin Zayed Al Nahyan on Tuesday in Abu Dhabi, where the war and conflict in the Red Sea featured heavily in discussions, according to India’s Foreign Secretary Vinay Kwatra. Both leaders agreed, though, to take the first step to operationalize part of the ambitious India-Middle East-Europe Economic Corridor, or IMEC, he said.

Jared Kushner, Donald Trump’s former White House adviser and his son-in-law, is defending his business dealings with the Saudi crown prince after leaving the U.S. government