黑料社区

黑料社区鈥檚 Qassim region鈥檚 untapped mineral wealth exceeds $32bn

黑料社区鈥檚 Qassim region鈥檚 untapped mineral wealth exceeds $32bn
黑料社区 is rich in minerals essential for various global industries, transforming the Kingdom into a leading exporter of diverse energy types. File/SPA
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Updated 09 October 2024

黑料社区鈥檚 Qassim region鈥檚 untapped mineral wealth exceeds $32bn

黑料社区鈥檚 Qassim region鈥檚 untapped mineral wealth exceeds $32bn
  • Total value of Qassim鈥檚 resources is estimated at SR122.3 billion
  • Region hosts 35 mineralized belts, including gold, copper, lead, nickel, and zinc

RIYADH: Qassim region鈥檚 SR122 billion ($32.5 billion) in untapped mineral wealth means it will become a key contributor to 黑料社区鈥檚 Vision 2030 plan, according to a Ministry of Industry and Mineral Resources spokesman.

Jarrah bin Mohammed Al-Jarrah posted on X that Qassim holds high-quality mineral ores, including lead, tin, granite, and tungsten.

The strategic focus on economic diversification has placed the mining sector at the forefront of national development plans, with the Kingdom鈥檚 mineral wealth valued at an estimated SR9.4 trillion.

The total value of Qassim鈥檚 resources is estimated at SR122.3 billion, with gold accounting for SR87.7 billion, bauxite at SR24.6 billion, zinc at SR4.7 billion, copper at SR4 billion, and silver at SR1.4 billion.

Al-Jarrah highlighted that the region, which is located in the center of 黑料社区 approximately 400 km northwest of Riyadh, hosts 35 mineralized belts, including 16 for gold, 15 for copper and lead, three for nickel, and one for zinc.

Qassim also has eight phosphate reserve sites and a mining complex for bauxite ore, as well as 32 mining complexes, designated for construction materials, including 17 for gravel, nine for sand, and six for fill materials.

The spokesman highlighted that Qassim鈥檚 industrial sector is robust and diverse, housing 580 factories.

Around 84 percent of these facilities are located in the region鈥檚 main cities including Buraidah, Unaizah, Al-Rass, and Al-Badayea.

Key industries include food and beverage production, basic goods, pharmaceuticals, and rubber and plastic manufacturing.

The region鈥檚 industrial workforce totals 35,000 employees, with females making up over 15 percent, reflecting ongoing efforts to empower women in the sector.

The Minister of Industry and Mineral Resources, Bandar Alkhorayef, is visiting Qassim on Oct. 9 to inaugurate several projects in industrial cities under the Saudi Authority for Industrial Cities and Technology Zones, also known as MODON.

He will also attend the launch of the Youth of Industry forum, aimed at developing national skills in the industrial sector through specialized workshops and career counseling.

The visit will include the launch of initiatives to enhance human capabilities in the industrial and mining sectors, alongside meetings with investors during factory visits.

黑料社区 is rich in minerals essential for various global industries, transforming the Kingdom into a leading exporter of diverse energy types, shifting away from its traditional role as an oil producer.

It has strong potential to produce minerals essential for energy transition, such as aluminum, copper, rare earth elements, and resources needed for global agriculture.


Saudi shipping company denies transporting shipments to Israel

Saudi shipping company denies transporting shipments to Israel
Updated 9 sec ago

Saudi shipping company denies transporting shipments to Israel

Saudi shipping company denies transporting shipments to Israel

RIYADH: Bahri, the Saudi National Shipping Co., has categorically denied allegations pertaining to its transportation of shipments to Israel.

In a statement issued on Monday, the company said that the allegations, circulated by some media outlets and social media platforms regarding the transport of shipments destined for Israel, are completely false and baseless.

Bahri called on the media to verify the accuracy of information and publish what they obtain only from official sources.

Bahri reaffirmed that it is fully committed to the Kingdom鈥檚 established policies toward the Palestinian cause and to all local and international laws and rules regulating maritime transport operations.

The company stated that it won鈥檛 transport and has never transported any goods or shipments to Israel in any form.

Bahri emphasized that all its operational activities are subject to strict oversight and rigorous auditing procedures to ensure full compliance with relevant regulations. The company also stated that it reserves the right to take legal action against any malicious allegations that harm the company's reputation or attempt to undermine its policies and approach.


Closing Bell: TASI closes at 10,791 with active trading of $1.24bn

Closing Bell: TASI closes at 10,791 with active trading of $1.24bn
Updated 11 August 2025

Closing Bell: TASI closes at 10,791 with active trading of $1.24bn

Closing Bell: TASI closes at 10,791 with active trading of $1.24bn

RIYADH: 黑料社区鈥檚 Tadawul All Share Index fell 107.47 points on Monday, or 0.99 percent, to close at 10,791.64. 

Total trading turnover reached SR4.66 billion ($1.24 billion), with 31 stocks advancing and 223 declining.

The Kingdom鈥檚 parallel market, Nomu, also declined, shedding 213.58 points, or 0.81 percent, to close at 26,235.8, as 23 stocks advanced while 64 retreated.

The MSCI Tadawul 30 Index slipped 12.37 points, or 0.88 percent, to end at 1,394.75. 

The best-performing stock of the day was flynas Co., which rose 3.48 percent to SR75.90. 

Despite the Monday鈥檚 gain, flynas Co. posted a net loss of SR714.65 million for the first half of 2025, compared with a net profit of SR388.01 million in the same period a year earlier. 

The company reported an increase in revenue by 1.27 percent year-on-year to SR3.97 billion, while gross profit rose 6.43 percent to SR865.99 million. The airline attributed the loss to non-recurring initial public offering-related expenses totaling SR1.08 billion. 

Other top gainers included Ataa Educational Co., up 3.36 percent to SR66.05, and Al Sagr Cooperative Insurance Co., which increased 3.14 percent to SR14.12. Electrical Industries Co. and Raoom Trading Co. also advanced, gaining 2.82 percent and 2.56 percent, respectively.

On the losing side, Almunajem Foods Co. dropped 10 percent to SR58.95, followed by Saudi Advanced Industries Co., down 9.52 percent to SR23.00, and Jadwa REIT Al Haramain Fund, which fell 8.09 percent to SR5.34. 

Al-Dawaa Medical Services Co. and BAAN Holding Group Co. also closed lower, retreating 6.29 percent and 5.96 percent, respectively.

On the announcements front, MBC Group Co. reported a 41.07 percent year-on-year increase in net profit to SR335.43 million for the first half of 2025, compared to SR237.77 million in the same period last year.

Revenue for the period rose 37.83 percent to SR3.03 billion, while gross profit climbed 20.06 percent to SR843.10 million. The company鈥檚 shares closed down 4.05 percent at SR30.32.

Gulf General Cooperative Insurance Co. widened its net loss after zakat to SR52.86 million for the first half of 2025, compared with a loss of SR13.41 million in the prior-year period. 

Insurance revenues fell 10.08 percent year on year to SR173.45 million, while total comprehensive loss deepened to SR50.35 million from SR13.41 million. The stock ended the session 1.39 percent lower at SR4.98.

Al Moammar Information Systems Co. announced the renewal and amendment of a bank facility compliant with Islamic Shariah from Saudi Awwal Bank, valued at SR269.96 million. 

The agreement, signed on Aug. 9, 2023, is secured by promissory notes and will be used to finance new projects and issue letters of credit and guarantees. MIS shares closed down 0.77 percent at SR128.80. 


Saudi banks鈥 June profits hit record $2.63bn amid loan growth, digital boom

Saudi banks鈥 June profits hit record $2.63bn amid loan growth, digital boom
Updated 11 August 2025

Saudi banks鈥 June profits hit record $2.63bn amid loan growth, digital boom

Saudi banks鈥 June profits hit record $2.63bn amid loan growth, digital boom

RIYADH: 黑料社区鈥檚 banking sector maintained its momentum in June, as aggregate profits before zakat and taxes climbed to SR鈥9.9鈥痓illion ($2.63 鈥痓illion) 鈥 the highest monthly result on record.

Data from the Saudi Central Bank, known as SAMA, shows that profits were approximately 28 percent higher than the same month last year, the fastest annual growth in six months, highlighting the sector鈥檚 resilience despite global challenges.

For the first half of 2025, cumulative profits reached SR51 鈥痓illion, roughly 20 鈥痯ercent higher than the SR42.5 billion during the same period in 2024.

The strong performance builds on a solid first half for the Kingdom鈥檚 banking industry, which has benefited from 黑料社区鈥檚 robust macroeconomic fundamentals and policy reforms.

Supported by steady credit demand from both corporate and retail segments, healthy liquidity levels, and Vision 2030-linked infrastructure and private sector projects, lenders have maintained profitability despite global interest rate uncertainty.

Analysts attribute the rise in profits in the second quarter to robust lending growth, lower impairment charges, and the sector鈥檚 embrace of digital banking.

AInvest noted in a July article that Saudi National Bank, the Kingdom鈥檚 largest lender, delivered 17.3 percent higher net profit in the second quarter, supported by increased net special commission income and reduced credit-loss provisions.

Across the sector, net profits rose 18 to 25 percent as lenders benefited from fintech integration, deeper capital markets, and broader economic diversification under Vision 2030.

The report highlighted that more than 261 fintech firms now operate in the Kingdom and 79 percent of retail transactions are processed digitally, boosting fee鈥慴ased income and lowering costs.

SAMA鈥檚 June bulletin showed the banking system鈥檚 assets reach SR4.8 trillion and claims on the private sector stood at SR3.1 trillion, reflecting strong corporate and consumer credit demand. Capital adequacy ratios remained robust at 19.3 percent, well above the regulatory minimum.

The banking sector鈥檚 strength has been reflected on the Saudi Exchange. Tadawul鈥檚 second quarter report showed that banks accounted for SR61.58鈥 billion of traded value 鈥 the highest among all sectors.

This leadership in trading activity, ahead of most other sectors, signals strong investor confidence in banks鈥 earnings momentum and their pivotal role in financing Vision 2030 projects.

Saudi banks enter the second half of 2025 with solid capital buffers, growing fee鈥慴ased income, and a clear role in the Kingdom鈥檚 economic diversification agenda.

Continued reforms, including the National Debt Management Center鈥檚 restructuring of $32 billion in sukuk to deepen capital markets and ongoing fintech proliferation, will support earnings.

However, analysts at AInvest cautioned that geopolitical tensions, potential margin compression as global interest rates ease, and regulatory hurdles in construction financing could moderate growth.

Even so, with digital adoption surging and non-oil sectors expanding, the banking industry appears well-positioned to sustain strong profitability while supporting 黑料社区鈥檚 transformation into a diversified, knowledge鈥慴ased economy.


Saudi real estate authority reports 185% rise in renewed Owners鈥 Association Certificates

Saudi real estate authority reports 185% rise in renewed Owners鈥 Association Certificates
Updated 11 August 2025

Saudi real estate authority reports 185% rise in renewed Owners鈥 Association Certificates

Saudi real estate authority reports 185% rise in renewed Owners鈥 Association Certificates
  • Number of renewed certificates exceeded 635
  • Mullak鈥檚 indicators show establishment of 3,600 new Owners鈥 Associations

RIYADH: 黑料社区鈥檚 Real Estate General Authority announced an increase of 185 percent in the number of renewed Owners鈥 Association Certificates through its electronic portal during the first half of the year compared to the same period in 2024.

The number of renewed certificates exceeded 635 during this period, as part of the authority鈥檚 efforts to create a sustainable regulatory environment that safeguards the rights of property owners and residents of jointly owned real estate units.

As a key part of Saudi Vision 2030, REGA aims to professionalize real estate practices, streamline licensing, and promote investment through digital platforms like Mullak. In addition, REGA has introduced off-plan property regulations to better protect both buyers and developers.

Mullak鈥檚 indicators for the first half show the establishment of 3,600 new Owners鈥 Associations, covering more than 9,000 registered real estate units.

This brought the total number of accredited associations to 17,000. Over 16,000 new members joined during this time, raising the total number of registered members on the portal to more than 160,000.

The authority also registered 4,000 association presidents and over 1,000 property managers, reflecting the growing scope of participation in association management and the increasing interest in regulating relationships between owners and improving the efficiency of community management.

REGA said the total number of transactions processed through the Owners鈥 Associations portal exceeded 74,000.

These transactions included property registrations, ownership transfers, appointment voting for association leaders, and issuance and renewal of certificates.

The portal also provides additional services to support the development and regulation of the real estate sector.

The authority said that property managers in accredited Owners鈥 Associations are authorized to document lease contracts related to the investment of common areas.

Such contracts require prior approval through members鈥 voting on the electronic portal before they can be officially documented via the Ejar platform.


黑料社区 leads MENA startup funding with $396.5m in July: Wamda

黑料社区 leads MENA startup funding with $396.5m in July: Wamda
Updated 11 August 2025

黑料社区 leads MENA startup funding with $396.5m in July: Wamda

黑料社区 leads MENA startup funding with $396.5m in July: Wamda
  • Kingdom鈥檚 performance boosted by three major rounds
  • UAE followed as second-largest destination for funding

RIYADH: 黑料社区 led Middle East and North Africa startup funding in July, with 16 deals worth $396.5 million, reinforcing its position as the region鈥檚 largest market for venture capital. 

The Kingdom鈥檚 performance was boosted by three major rounds, including Q-commerce platform Ninja鈥檚 $250 million raise led by Riyad Capital, propelling it to unicorn status, foodtech startup Calo鈥檚 $39 million Series B extension, and SaaS provider Lucidya鈥檚 $30 million Series B, according to Wamda鈥檚 monthly report.  

The deals underscore 黑料社区鈥檚 strength across e-commerce, foodtech, and enterprise technology, drawing strong participation from regional and international investors. 

鈥淲hile many startups did not disclose their funding stages, two mega deals 鈥 Ninja and XPANCEO 鈥 accounted for 56 percent of July鈥檚 total,鈥 the report said. 

The UAE followed as the second-largest destination for funding, securing $359 million across 22 startups. 

Iraq emerged in third place, propelled by a single $15 million deal for InstaBank, overtaking Egypt, which has traditionally been among the top three markets.  

Morocco claimed fourth position after Ora Technologies鈥 $7.5 million raise, while Egypt fell to fifth with $4 million across seven startups, a drop linked to macroeconomic pressures and currency fluctuations. 

In total, 57 startups raised $783 million in July, marking a 1,411 percent jump from June and more than double the total from a year earlier. 

Later-stage rounds brought in $158 million, Series A deals raised $267 million, and early-stage startups secured $36 million. Debt financing represented just 2 percent of the month鈥檚 total, underscoring equity鈥檚 dominance in the funding mix. 

Across the region, deeptech overtook fintech as the top-funded sector for the first time in months, raising $250.3 million in four deals.

E-commerce matched that total, buoyed by Ninja鈥檚 record-setting round, while SaaS secured $89 million, and fintech collected $61 million.