海角直播

海角直播 boosts health infrastructure with 5 new hospitals, increased budget聽

海角直播 has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents.聽File
海角直播 has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents.聽File
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Updated 02 December 2024

海角直播 boosts health infrastructure with 5 new hospitals, increased budget聽

海角直播 boosts health infrastructure with 5 new hospitals, increased budget聽

RIYADH: 海角直播 is set to open five new hospitals by 2025, adding 963 beds across key provinces as part of a broader SR260 billion ($69.3 billion) budget allocation to the health and social development sector.聽

This allocation, which represents the second-largest share of government spending, covers a wide range of initiatives, including increasing bed capacity to 23 beds per 10,000 residents in the targeted provinces, as outlined in the Ministry of Finance鈥檚 budget report.

The new facilities, located in Rijal Almaa, Dhahran Al-Janoub, Hail, Makkah, and Riyadh, include a dedicated mental health hospital in the capital. These projects aim to enhance access to care and improve healthcare infrastructure across the Kingdom.聽聽

Other initiatives for 2025 include emergency services, early detection programs, cancer care, and expanded dialysis services, highlighting a comprehensive approach to healthcare that emphasizes prevention, early intervention, and state-of-the-art infrastructure.聽

In addition to healthcare, these funds will also support the management of human resources and social services, including social security and welfare.聽

They will also extend to the cultural, media, sports, and entertainment sectors, as well as the implementation of the Quality of Life Program. This underscores 海角直播鈥檚 holistic approach, recognizing the interconnectedness of health and social development.聽聽

Healthcare advancements聽

海角直播 has made significant strides in advancing its healthcare sector as part of its broader vision to improve the well-being of its citizens and residents.聽

Over the past decade, the Kingdom has invested heavily in modernizing healthcare infrastructure, expanding medical services, and improving access to quality care nationwide.聽聽

With initiatives like Vision 2030, which outline ambitious goals to diversify the economy and enhance public services, the health sector has become a key area of focus.聽

The government has prioritized expanding health coverage, upgrading hospitals and clinics, and implementing advanced technologies such as electronic health records and telemedicine services.聽

Additionally, 海角直播 places strong emphasis on preventive healthcare, early diagnosis, and specialized treatment programs, all aimed at reducing the disease burden and improving the quality of life.聽

Key investments聽

The ministry鈥檚 report indicated that the new hospitals will be outfitted with state-of-the-art medical equipment, and skilled healthcare professionals will be employed to address the health needs of the population and enhance the quality of care.聽聽

To bolster emergency medical services, 海角直播 plans to deploy 568 vehicles, including ambulances, electric vehicles, and amphibious units.聽聽

These vehicles will play a crucial role in transporting the injured and medical supplies, enhancing the overall responsiveness of healthcare services, especially in remote areas and during emergencies. This extensive fleet will ensure timely medical attention and improve access to healthcare across all regions, regardless of geographic challenges.聽

Health innovations聽

The health sector will also prioritize early screening for newborns and young children in 2025, aiming to reduce disability and enhance overall quality of life.聽

This includes the implementation of newborn screening programs to detect hearing impairments and genetic disorders.聽

A comprehensive database will be created, linking both public and private sectors to ensure early diagnosis and intervention.聽

Additionally, preschool hearing screenings will be integrated with the Noor system to improve educational outcomes for children, further supporting the early identification of health issues that could impact development.聽

In an effort to reduce the incidence of cervical cancer, the Kingdom will increase HPV vaccination coverage for girls, targeting a 90 percent vaccination rate.聽聽

The program will provide vaccines for girls in their first year of intermediate school and offer early detection services for women aged 30 and older. Positive cases will be referred to early screening programs for cervical cancer, aiming to prevent the spread of HPV and improve overall public health by detecting and addressing the virus early.聽

The Kingdom is also expanding its cancer care services by implementing a modern care model across three new oncology centers.聽

This includes expanding early cancer detection capabilities and providing state-of-the-art diagnostic equipment to improve the accuracy and speed of diagnoses.聽聽

Similarly, dialysis services at Huraymila and Jazan General Hospitals will undergo significant expansion, with a 200 percent increase in capacity at each facility. These centers will receive substantial funding 鈥 SR10 million for Huraymila and SR30 million for Jazan 鈥 to ensure advanced care and accommodate more patients in need of dialysis.聽

In parallel with these service expansions, the Kingdom is enhancing its medical evacuation capabilities by developing and activating medical evacuation centers, command and control hubs, and advanced ambulance services across the country.聽

Notably, the National Health Emergency Operations Center has earned recognition from the World Health Organization for its efficiency and preparedness, positioning 海角直播 as a leader in healthcare crisis management and emergency response.聽

Healthcare achievements聽

The Ministry of Finance budget report highlighted the issuance of 113 million electronic prescriptions through the Wasfaty service, resulting in SR1.3 billion in savings and reducing costs by SR2.4 billion.聽

The Wasfaty service is an electronic prescription platform introduced by the Saudi Ministry of Health. It allows doctors to prescribe medications electronically, replacing traditional paper prescriptions.聽

This service is part of 海角直播鈥檚 broader efforts to digitize healthcare services and improve efficiency. Through this platform, prescriptions can be directly sent to pharmacies, streamlining the process for both patients and healthcare providers. It also enhances medication tracking, reduces prescription errors, and helps manage healthcare costs more effectively.聽

Emergency services have seen a 20 percent improvement in response time, enhancing life-saving efforts with more efficient ambulance and air transport services.聽

Health coverage has expanded, with 12.5 million beneficiaries and a reduction in patient transfers outside local areas.聽

Operational efficiency has been boosted, leading to a 27 percent increase in scheduled surgeries and a 91 percent improvement in emergency service access within four hours.聽聽

The localization of specialized tests has grown by 13.1 percent, reducing reliance on external laboratories and cutting long-term costs.聽

Dental services have also flourished, with a 137 percent increase in clinic capacity, a 200 percent rise in appointments, and a 250 percent growth in primary healthcare services.聽聽

Additionally, the provision of advanced ambulances has improved services for challenging terrains and mass casualty incidents. The sector has also achieved 17 international accreditations, raising the health compliance rate to 84 percent across 252 facilities, solidifying its commitment to global standards.聽

Digital advancements聽

Investment in digital healthcare systems is proving beneficial in improving performance and health outcomes, as highlighted by the Organization for Economic Cooperation and Development.聽

According to the World Economic Forum, 海角直播 allocated over $50 billion in 2023 to initiatives, including digital health services aimed at improving efficiency and accessibility.聽聽

McKinsey predicts that the widespread adoption of digital solutions could bring an additional $15 billion to $27 billion in economic benefits by 2030.聽

海角直播鈥檚 partnership with Orion Health to create the world鈥檚 largest health information exchange, connecting 5,000 institutions and 32 million people, is one example of such efforts.聽

Artificial Intelligence, especially generative AI, is expected to play a significant role in improving patient care and healthcare efficiency, with the potential to contribute $320 billion to the Middle East鈥檚 economy by 2030, according to the WEF.聽聽

Robots are also being explored for improving precision, workplace safety, and elderly care. 海角直播, for instance, saw a 52 percent increase in robotics company registrations between 2022 and 2023.聽

As 海角直播 continues to focus on digital health, AI advancements, and comprehensive care models, its efforts are poised to transform the sector, improve health outcomes, and support the well-being of its growing population.聽聽


UAE shares end higher as outcome of US-China trade talks awaited

UAE shares end higher as outcome of US-China trade talks awaited
Updated 51 sec ago

UAE shares end higher as outcome of US-China trade talks awaited

UAE shares end higher as outcome of US-China trade talks awaited

LONDON: Stock markets in the UAE ended higher on Monday, in step with Asian peers, as investors awaited the outcome of US-China trade talks in London in the hope that a deal could boost the global economic outlook.

Top US and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two super powers that has widened to export controls over goods and components critical to global supply chains.

Dubai鈥檚 benchmark index hit its highest levels since 2008 and settled up 1 percent, with almost all sectors in positive territory.

Tolls operator Salik Company gained 2.3 percent and Deyaar Development surged 14.6 percent.

In Abu Dhabi, the index was up for a third straight session and gained 0.1 percent, lifted by a 1.6 percent rise in blue-chip developer Aldar Properties and a 1.8 percent advance in Abu Dhabi鈥檚 flagship energy firm Abu Dhabi National Energy Company.

Most stock markets in the Gulf and Egypt including Saudi, Qatar, Kuwait are closed on Monday due to a public holiday.


Saudi commercial bank profits jump 16% in April, topping $2bn before zakat, tax

Saudi commercial bank profits jump 16% in April, topping $2bn before zakat, tax
Updated 21 min 18 sec ago

Saudi commercial bank profits jump 16% in April, topping $2bn before zakat, tax

Saudi commercial bank profits jump 16% in April, topping $2bn before zakat, tax
  • Year-to-date earnings reached SR32.97 billion, an annual rise of 20%
  • Banks getting balance sheets ready for next investment wave

RIYADH: 海角直播鈥檚 banking sector extended its winning streak in April, posting SR7.77 billion ($2.07 billion) in pre-zakat and tax profits, a 16 percent increase compared to the same month last year.

According to the Saudi Central Bank, also known as SAMA, this brought year-to-date earnings to SR32.97 billion, an annual rise of 20 percent, keeping the Kingdom firmly on course for another record-breaking period.

The sustained momentum is attributed to a robust mix of state spending on giga-projects, resilient consumer demand, and still-elevated interest rates.

Financing volumes continue to climb, driven primarily by corporate borrowers across a growing range of industries, including manufacturing, utilities, insurance, and private education. 

Speaking at the inaugural 24 Fintech conference in September, Finance Minister Mohammed Al-Jadaan said the Kingdom had licensed 224 fintech firms by the second quarter of 2024. File/SPA

Contractors are also racing to secure long-term credit for giga-projects such as NEOM, Diriyah, and the Jafurah gas field.

A wider Gulf picture

Strong as those local figures are, the broader region is also gaining momentum. A Kamco Invest report released in May showed that Gulf banks collectively earned a record $15.6 billion in the first quarter of 2025, an 8.6 percent increase from a year earlier.

Financial institutions in the UAE posted the largest absolute increase, adding $639.6 million, while Saudi lenders recorded the fastest annual growth at 17.2 percent.

Kamco added that fee income is rising, costs are under control, and loan-loss provisions fell sharply during the period, cushioning a small dip in net interest income.

Investor appetite is visible in market valuations. Forbes Middle East鈥檚 鈥30 Most Valuable Banks 2025鈥 March list includes 10 Saudi lenders with a combined market cap of about $269 billion鈥 roughly one-third of the entire ranking.

Al Rajhi Bank led the pack at $105.6 billion, with Saudi National Bank following at $54.7 billion.

Contractors are racing to secure long-term credit for giga-projects such as NEOM, Diriyah, and the Jafurah gas field. NEOM

Global Finance named Saudi Awwal Bank the Kingdom鈥檚 best lender in its May 鈥淲orld鈥檚 Best Banks in the Middle East 2025鈥 release, highlighting its HSBC-backed mobile app upgrades, Visa Direct payments, and one-stop small and medium-sized enterprises lending platform.

Cleaning the books and raising cash

Banks are also getting balance sheets ready for the next investment wave.

Bloomberg reported in March that lenders are exploring sales of older non-performing loans to specialist investors to free up capital for upcoming mega project drawdowns.

They鈥檙e also tapping capital markets. By June, they had issued over $5.6 billion in Additional Tier-1 bonds, already a full-year record and the world鈥檚 second-largest AT1 issuance in 2025, according to Bloomberg.

The spree includes Al Rajhi Bank鈥檚 $1.25 billion deal in April, Banque Saudi Fransi鈥檚 $650 million perpetual at 6.375 percent in May, Saudi Awwal Bank鈥檚 $650 million inaugural issue, and Alinma Bank鈥檚 $500 million of sustainable sukuk, all heavily oversubscribed.

Saudi National Bank was ranked in the Forbes Middle East鈥檚 鈥30 Most Valuable Banks 2025鈥 March list. Shutterstock

By tapping eager investors now, while margins remain healthy and global demand for Gulf paper is strong, lenders are bulking up capital buffers and keeping loan-to-deposit ratios in check. That leaves them better prepared to fund the fast-rising credit needs of projects like NEOM and Diriyah without tripping liquidity alarms later in the year.

Fintech role

Fintech is reshaping Saudi banking from the ground up. The Saudi Central Bank鈥檚 Open Banking Framework 鈥 most recently updated in September to cover payment-initiation services 鈥 sets common technical rules that let lenders and start-ups plug their systems together safely and at speed.

Speaking at the inaugural 24 Fintech conference in September, Finance Minister Mohammed Al-Jadaan revealed that the Kingdom had licensed 224 fintech firms by the second quarter of 2024, up from fewer than 100 just three years earlier.

One of the newest players is Riyadh-based Stitch, which closed a $10 million seed round on May 28. The company offers a single set of application-programming interfaces that lets banks, fintechs and even non-financial brands bolt on real-time payments and open-banking functions far faster than older systems.

Early adopters already include Lulu Exchange and point-of-sale platform Foodics. The founders say the fresh cash will go toward doubling the engineering team and expanding the product suite.

海角直播鈥檚 sustained momentum is attributed to a robust mix of state spending on giga-projects, resilient consumer demand, and still-elevated interest rates. File/AFP

Looking ahead

Riyad Capital鈥檚 first-quarter preview, released in April, expects another double-digit profit rise this year, about SR19 billion for the listed banks it tracks, as loan growth stays strong and rate cuts arrive slowly.

S&P Global, in its 海角直播 Banking Sector Outlook 2025 report, says a 10 percent increase in lending should outweigh a 20- to 30-basis-point dip in margins, keeping sector returns on assets near 2.1 percent to 2.2 percent.

Funding is the main watchpoint. Moody鈥檚 shifted its system outlook to stable on Feb. 25, saying strong credit growth is tightening liquidity, but capital buffers remain solid.

For now, asset-quality risks remain low. S&P expects non-performing loans to edge up to just 1.7 percent by the end of 2025, while loan-loss provisions are projected to stay around 50 to 60 basis points. Banks鈥 total capital ratios, hovering near 19 percent, provide a solid buffer to absorb potential shocks from falling oil prices or rising private-sector leverage.

Saudi lenders are still the region鈥檚 earnings workhorse. Profits are rising, market values are high, and fresh money 鈥 from bond buyers to venture capitalists 鈥 is flowing in. If they can keep gathering deposits quickly enough to fund a fast-growing loan book, the Kingdom鈥檚 banks look set to stay ahead of their Gulf neighbors in both profit and ambition well into next year.


Saudi carrier flynas to expand operations across 4 hubs, official says聽

Saudi carrier flynas to expand operations across 4 hubs, official says聽
Updated 09 June 2025

Saudi carrier flynas to expand operations across 4 hubs, official says聽

Saudi carrier flynas to expand operations across 4 hubs, official says聽
  • Hubs include Riyadh, Jeddah, Madinah, and Dammam as part of growth plan
  • Carrier expanded its summer schedule, launching four new international destinations

RIYADH: 海角直播鈥檚 low-cost carrier flynas is set to expand operations across its four main hubs 鈥 Riyadh, Jeddah, Madinah, and Dammam 鈥 as part of an ambitious growth plan, according to a top official. 

In an interview with Al-Eqtisadiah, Waleed Ahmed, the company鈥檚 official spokesperson, said that flynas holds the largest aircraft order in the Kingdom and one of the biggest in the Middle East, with a total of 280 aircraft set to be received. 

This follows a major deal signed in July with Airbus to acquire 160 new aircraft, including 30 wide-body A330neo and 130 single-aisle jets across A320neo, A321neo, and A321LR models. 

The airline has seen a sharp rise in passenger traffic, with volumes climbing from around 11 million in 2023 to more than 14.7 million in 2024, reflecting the low-cost carrier鈥檚 rapid expansion in line with 海角直播鈥檚 push to position itself as a leading global hub for tourism and business. 

鈥淭hese numbers reinforce the company鈥檚 role in supporting Vision 2030, which aims to increase the number of passengers to 330 million and attract more than 150 million international passengers by that year.鈥 Ahmed said, as quoted by Al-Eqtisadiah. 

He also highlighted that, as part of its ambitious strategic plan, flynas has expanded its summer schedule by launching four new destinations for the first time: Krakow in Poland, Geneva in Switzerland, Milan in Italy, and Rize in Turkiye, in addition to its usual summer routes. 

Last week, flynas finalized its initial public offering at SR80 ($21) per share 鈥 the top of its indicated price range 鈥 following strong demand from both institutional and retail investors. 

The pricing values the airline at an estimated market capitalization of SR13.6 billion at listing. 

The offering followed the company鈥檚 announcement last month of its intention to float 30 percent of its share capital on the Saudi Exchange, making flynas the first airline in the Kingdom to go public and the first Gulf airline IPO in nearly two decades. 

In line with its ongoing fleet expansion, flynas recently took delivery of its fourth Airbus A320neo of 2025, bringing the total number of A320neo aircraft in its all-Airbus fleet to 57. The current fleet includes 63 aircraft 鈥 57 A320neo, four A320ceo, and two A330neo wide-body jets.


Al-Habtoor Group chairman to lead high-level delegation to Syria, exploring investment opportunities

Al-Habtoor Group chairman to lead high-level delegation to Syria, exploring investment opportunities
Updated 09 June 2025

Al-Habtoor Group chairman to lead high-level delegation to Syria, exploring investment opportunities

Al-Habtoor Group chairman to lead high-level delegation to Syria, exploring investment opportunities
  • Group said visit reflects its ongoing strategy to explore new cooperation with Syrian government
  • Khalaf Al-Habtoor to visit Syria in coming days

RIYADH: The head of Dubai conglomerate Al-Habtoor Group is set to visit Syria with a delegation of senior executives to discuss potential investments and partnerships with the new government.

According to a statement, the visit reflects the group鈥檚 ongoing strategy to explore new avenues of cooperation with the Syrian government and to assess potential investment opportunities across multiple sectors. 

It added that the trip stems from 鈥渁 firm belief鈥 in Syria鈥檚 ability to recover its strength and regional standing and the importance of public-private partnerships in the country鈥檚 rebuilding phase.

The move comes as Syria鈥檚 transitional government, led by President Ahmed Al-Sharaa, pushes economic reforms to attract foreign investment, including privatizations, relaxed trade policies, and major infrastructure deals. 

Speaking ahead of the trip, the group鈥檚 Chairman Khalaf Ahmad Al-Habtoor said: 鈥淪yria is a country rich in culture, history, and capable people. We believe in its future potential and are eager to play a role in its revival through meaningful projects that generate employment.鈥  

He added: 鈥淲e look to Syria with great confidence. Its people possess the energy and resilience needed to shape a strong and prosperous future. As an Arab group with deep regional roots, we consider it both a moral and economic responsibility to stand as a partner in rebuilding stable and thriving societies.鈥

Al-Habtoor Group, a UAE-based multinational with a strong presence in the hospitality, real estate, and automotive industries, has a history of large-scale investments in the Middle East. The move follows the organization鈥檚 recent withdrawal from Lebanon, where it cited instability as a barrier to business.


Jordan鈥檚 foreign exchange reserves hold steady at $22.76bn in May

Jordan鈥檚 foreign exchange reserves hold steady at $22.76bn in May
Updated 09 June 2025

Jordan鈥檚 foreign exchange reserves hold steady at $22.76bn in May

Jordan鈥檚 foreign exchange reserves hold steady at $22.76bn in May
  • Gold holdings at the end of May were valued at $7.76 billion
  • Qatar Central Bank recorded a 3.6% increase in its foreign currency reserves and liquidity

RIYADH: Jordan鈥檚 foreign exchange reserves remained largely unchanged in May, standing at $22.76 billion, as per new data released by the Central Bank of Jordan. 

The slight month-on-month dip 鈥 about 0.2 percent from April 鈥 reflects broad stability in the Kingdom鈥檚 external buffers. 

Jordan鈥檚 foreign exchange figures are broadly in line with trends observed across other Middle East and North African countries. 

The Qatar Central Bank recorded a 3.6 percent increase in its foreign currency reserves and liquidity, reaching 258.135 billion Qatari riyals ($70.9 billion) in May, up from 249.165 billion riyals in May 2024. 

Jordan鈥檚 long-term foreign-currency issuer default rating was affirmed at 鈥淏B-鈥 with a stable outlook by Fitch Ratings. File/AFP

Egypt鈥檚 foreign exchange reserves rose to $48.525 billion by the end of May, compared to $48.144 billion in April, marking an increase of $381 million. 

鈥淭he Central Bank of Jordan stated in a statement today that its total foreign reserves are sufficient to cover the country鈥檚 imports of goods and services for approximately nine months,鈥 the Qatar News Agency reported. 

The central bank also reported that gold holdings at the end of May were valued at $7.76 billion, totaling 2.345 million ounces, underscoring the role of bullion in Jordan鈥檚 reserve composition. 

鈥淚t added that the presence of comfortable levels of foreign reserves enhances the ability to influence exchange rates, provides a stable economic environment, and enhances the confidence of foreign creditors and investors,鈥 the QNA report stated, citing the Jordan Central Bank. 

The Central Bank of Jordan said its total foreign reserves are sufficient to cover the country鈥檚 imports of goods and services for approximately nine months. File/AFP

In May, Jordan鈥檚 long-term foreign-currency issuer default rating was affirmed at 鈥淏B-鈥 with a stable outlook by Fitch Ratings, citing the country鈥檚 macroeconomic stability and progress on fiscal and economic reforms. 

The US-based credit rating agency noted that the rating and stable outlook also reflect Jordan鈥檚 resilient financing sources 鈥 including a liquid banking sector, a robust public pension fund, and sustained international support. 

Despite the stable outlook, Jordan鈥檚 credit rating remains below that of several other countries in the region. In February, Fitch affirmed 海角直播鈥檚 IDR at 鈥淎+鈥 with a stable outlook, while the UAE was rated 鈥淎A-.鈥 

Fitch said the ratings are constrained by high government debt, moderate growth, risks from domestic and regional politics, as well as current account deficits and net external debt levels that exceed those of rating peers. 

Jordan鈥檚 foreign exchange figures are broadly in line with trends observed across other Middle East and North African countries. Central Bank of Jordan

A 鈥淏B鈥 rating indicates elevated vulnerability to default risk, particularly in the event of adverse shifts in business or economic conditions. However, it also suggests some degree of financial or operational flexibility in meeting commitments. 

Fitch also noted that Jordan鈥檚 government remains committed to advancing its three-pillar reform agenda 鈥 spanning economic, public administration, and political sectors 鈥 despite external pressures. 

The agency added that the pace of reforms will continue to be shaped by the need to preserve social stability, resistance from vested interests, and institutional capacity limitations.