海角直播

海角直播, Pakistan rank as top solar markets in 2024: report

In the Middle East, 海角直播 imported 16 GW in 2024, more than double the amount imported the year before.
In the Middle East, 海角直播 imported 16 GW in 2024, more than double the amount imported the year before.
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Updated 15 April 2025

海角直播, Pakistan rank as top solar markets in 2024: report

海角直播, Pakistan rank as top solar markets in 2024: report

ISLAMABAD: Pakistan has joined the ranks of the world鈥檚 leading solar markets, importing 17 gigawatts (GW) of solar panels last year alone, according to the Global Electricity Review 2025 by Ember, an energy think tank in the UK.

In 2024, for the first time, solar power supplied more than 2,000 TWh of electricity, increasing by 474 TWh (+29 percent) from the previous year. This was the largest increase in generation from any power source in 2024. It took 8 years for solar to go from 100 TWh to 1,000 TWh of power 鈥 and then just 3 years to pass 2,000 TWh, meaning that solar has now been the largest source of new electricity globally for three years in a row.

Solar is now so cheap that large markets can emerge in the space of a single year 鈥 as evidenced in Pakistan in 2024. Amid high electricity prices linked to expensive contracts with privately-owned thermal power stations, rooftop solar installations in Pakistan鈥檚 homes and businesses soared as a means of accessing lower cost power.听

鈥淭he country imported 17 GW of solar panels in 2024 to meet this growing consumer demand, double the amount imported the year before,鈥 the Global Electricity Review 2025 said.

鈥淲ithin just a year, Pakistan became one of the world鈥檚 largest markets for new solar installations in 2024.鈥

Pakistan鈥檚 case shows that the low-cost, fast-to-build nature of solar power can transform electricity systems at an unprecedented rate. Updated system planning and regulatory frameworks are needed alongside this deployment to ensure a sustainable and managed transition.

In the Middle East, 海角直播 imported 16 GW in 2024, more than double the amount imported the year before. Oman saw the largest percentage growth in imports in the region, with 2.5 GW of imports in 2024 representing a fivefold increase from the year before.听

South Africa imported 3.8 GW of solar panels in 2024, following a record-breaking 2023 when 4.3 GW were imported as consumers turned to the technology amid rising blackouts. Nigeria and Morocco imported 1.3 GW and 1.1 GW respectively, marking the first time that either country has imported more than 1 GW in a single year.

The expansion of solar power is a worldwide phenomenon, with 99 countries doubling the amount of electricity they produce from solar power in the last five years. The majority of solar generation now comes from non-OECD countries (58 percent), with China alone making up 39 percent of the global total.

Increases in generation have been achieved thanks to the pace of capacity additions, the Global Electricity Review said. The world installed a record 585 gigawatts of solar capacity last year 鈥 30 percent more than in 2023, and more than double the amount installed in 2022. Having surpassed 1 TW of solar power in 2022, it took only two years to install the next 1 TW.

鈥淭his is not just unprecedented for solar power 鈥 it is a rate of growth that no power source has seen before. In fact, the solar capacity installed in 2024 is more than the annual capacity installations of all fuels combined in any year before 2023,鈥 the Global Electricity Review 2025 report added.听

As solar鈥檚 share of the global electricity mix has risen to 6.9 percent of global generation in 2024, some countries are showing it is possible to incorporate much larger amounts. There are now 21 countries that generate more than 15 percent of their electricity from solar power, up from just three countries five years ago.


SME lending in 海角直播 surges past $112bn

SME lending in 海角直播 surges past $112bn
Updated 22 October 2025

SME lending in 海角直播 surges past $112bn

SME lending in 海角直播 surges past $112bn

RIYADH: Lending to small, medium, and micro enterprises in 海角直播 reached a record SR420.7 billion ($112.18 billion) by the end of the second quarter of 2025, up 37 percent from the same period last year, official data showed.

This represents an increase of more than SR113.3 billion compared with the second quarter of 2024, when SME facilities stood at SR307.4 billion, the Saudi Press Agency reported, citing data from the Saudi Central Bank, also known as SAMA.

On a quarterly basis, SAMA鈥檚 monthly statistical bulletin for August reported that lending increased 10 percent from SR383.2 billion at the end of the first quarter, adding SR37.5 billion in new credit.

It also aligns with Vision 2030鈥檚 target to increase SME contributions to gross domestic product from 30 percent to 35 percent. With more than 1.8 million SMEs operating in the Kingdom, supporting this sector financially is not just a policy goal but a macroeconomic necessity.

鈥淭he bulletin indicated that the facilities provided by the banking sector amounted to SR402.1 billion, constituting about 96 percent of the total facilities, while the facilities provided by the financing companies sector amounted to SR18.6 billion,鈥 the SPA report stated. 

Medium-sized enterprises received the largest share of bank lending, securing SR198.9 billion, about 49 percent of total banking facilities. Small enterprises, meanwhile, dominated the financing companies鈥 portfolio, with SR8.5 billion, representing 46 percent of that sector鈥檚 total.

Overall, medium enterprises led total SME facilities with SR206.4 billion, representing 49 percent, followed by small enterprises at SR154.2 billion, or 37 percent, and micro enterprises at SR60.1 billion, accounting for 14 percent.

According to the General Authority for Small and Medium Enterprises, medium enterprises are defined as those with revenues between SR40 million and SR200 million or 50鈥249 employees.

Small enterprises have revenues of SR3 million to SR40 million, or six to 49 employees, while micro enterprises generate less than SR3 million or employ one to five people.


OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General
Updated 22 October 2025

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

OPEC sees global oil demand rising to 123m bpd by 2050: Secretary-General

JEDDAH: Global demand for oil is expected to reach around 123 million barrels per day by 2050, with the crude maintaining the largest share of the global energy mix at nearly 30 percent, OPEC Secretary-General Haitham Al-Ghais said.

Speaking at a conference in Kuwait on Oct. 22, Al-Ghais said demand for all types of fuel will continue to rise through 2050 and beyond, driven by population growth, economic expansion, rising urbanization, and the emergence of new energy-intensive industries, the Saudi Press Agency reported.

Al-Ghais added that meeting this projected demand will require massive investments estimated at about $18.2 trillion by 2050.

 


Closing Bell: Saudi main index ends in green at 11,585听

Closing Bell: Saudi main index ends in green at 11,585听
Updated 22 October 2025

Closing Bell: Saudi main index ends in green at 11,585听

Closing Bell: Saudi main index ends in green at 11,585听

RIYADH: 海角直播鈥檚 Tadawul All Share Index rose on Wednesday, gaining 40.10 points, or 0.35 percent, to close at 11,585.90. 

The total trading turnover of the benchmark index was SR5.35 billion ($1.42 billion), as 91 of the listed stocks advanced, while only 163 retreated. 

The MSCI Tadawul Index also increased, up 3.47 points, or 0.23 percent, to close at 1,510.94. 

The Kingdom鈥檚 parallel market Nomu lost 36.98 points, or 0.15 percent, to close at 25,035.14. This comes as 39 of the listed stocks advanced, while 40 retreated. 

The best-performing stock was CHUBB Arabia Cooperative Insurance Co., with its share price surging 9.91 percent to SR32.84. 

Other top performers included LIVA Insurance Co., which saw its share price rise by 4.57 percent to SR13.50, and 海角直播n Oil Co., which saw a 3.75 percent increase to SR25.98.

On the downside, Canadian Medical Center Co. saw the largest drop, with its share falling 8.84 percent to SR8.25. 

Tourism Enterprise Co. fell 8.43 percent to SR15.75, while Naseej International Trading Co. dropped 7.04 percent to SR62.70. 

On the announcements front, the Saudi Investment Bank released its interim financial results for the first nine months of the year. 

Net profit reached SR518.4 million, up 0.11 percent year on year and 1.15 percent compared with the previous quarter. The bank attributed the modest annual increase to a decline in total operating expenses. 

In a statement on Tadawul, the bank said that total operating income had decreased by 3 percent, mainly due to a drop in net special commission income and fair value through the statement of income, partially offset by higher exchange income and fee income from banking services. 

SAIB鈥檚 shares traded 1.94 percent lower on the main market to reach SR13.67. 


Egypt鈥檚 labor reforms aim to attract Qatari investment听

Egypt鈥檚 labor reforms aim to attract Qatari investment听
Updated 22 October 2025

Egypt鈥檚 labor reforms aim to attract Qatari investment听

Egypt鈥檚 labor reforms aim to attract Qatari investment听

JEDDAH: Egypt and Qatar are set to deepen economic ties, with the North African country鈥檚 recent labor law reforms aimed at attracting Gulf investment and improving the business environment. 

Egypt鈥檚 Minister of Labor, Mohamed Abdel Aziz Gibran, met in Cairo with Mohamed bin Ahmed Al-Obaidli, a board member of the Qatar Chamber, to discuss boosting bilateral economic cooperation and encouraging Qatari investors to enter the Egyptian market.

The two sides also reviewed Egypt鈥檚 labor law and discussed ways to tackle challenges facing investors in the country鈥檚 labor market, according to the Qatar News Agency.

In mid-April, the two countries agreed to pursue a package of $7.5 billion in direct Qatari investments. The move comes as Egypt steps up efforts to secure funding from Gulf neighbors and other foreign partners to address high foreign debt and a large budget deficit. 

鈥淒uring the discussions, HE the Minister reviewed the latest amendments to the Egyptian Labor Law, which include the establishment of an emergency fund to support workers and struggling companies, as well as the creation of an entity dedicated to training and upgrading workers鈥 skills,鈥 QNA reported. 

It added that the Egyptian official said the new law seeks to create a more favorable work environment and promote a stable, secure climate for investors in Egypt. 

The meeting also reviewed the outcomes of Gibran鈥檚 recent visit to Qatar, during which he met with representatives of the Qatari private sector. 

鈥淭he visit resulted in positive understandings aimed at strengthening cooperation in the fields of labor, training, and employment,鈥 the QNA report added. 

Al-Obaidli praised the strong fraternal ties between the countries, emphasizing the Qatar Chamber鈥檚 commitment to broadening cooperation across economic, commercial, and investment sectors. 

Egypt enacted Labor Law No. 14 of 2025, which took effect on Sept. 1, fully replacing previous labor legislation. 

The law introduces a wide range of reforms designed to modernize labor relations, enhance workers鈥 rights, and align with international labor standards.

It requires employers to provide annual salary increments, recognizes modern work arrangements such as remote work, part-time roles, flexible hours, and job sharing, and obliges them to contribute to a workforce training fund. 

The law also updates notice periods for resignations, extends maternity and paternity leave provisions, allows longer childcare leave, and regulates annual leave entitlements, including special provisions for disabled employees. 


Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn听

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn听
Updated 22 October 2025

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn听

Gulf sovereign funds fuel global M&A boom, driving deal value to $3.5tn听

RIYADH: Sovereign wealth funds from the Middle East and Asia are driving a resurgence in global mergers and acquisitions, with deal volumes surpassing $3.5 trillion since the start of the year, Asharq Business reported. 

The surge marks a 34 percent increase over the previous year, putting 2025 on track to be the strongest year for M&A since 2021. The third quarter alone saw over $1.3 trillion in deals, driven by a number of mega-transactions, according to data compiled by Bloomberg. 

The flurry of activity has been led by mega-deals involving some of the world鈥檚 deepest-pocketed state-backed funds. 

On Oct. 21, Blackstone Inc. and TPG Inc. agreed to acquire medical device maker Hologic Inc. for up to $18.3 billion, including debt. The deal features the Abu Dhabi Investment Authority and Singapore鈥檚 sovereign wealth fund GIC Pte as minority investors. 

In a separate transaction last week, BlackRock Inc. partnered with MGX, an AI firm backed by Abu Dhabi鈥檚 Mubadala Investment Co., in a $40 billion deal to acquire Aligned Data Centers. 

The week prior, Carlyle Group Inc. entered a partnership with the Qatar Investment Authority to purchase the coatings unit of BASF SE in a deal that valued the unit at 鈧7.7 billion ($8.9 billion). 

In a landmark transaction in September, 海角直播鈥檚 Public Investment Fund, chaired by Crown Prince Mohammed bin Salman, completed the acquisition of video game giant Electronic Arts Inc. to take it private. This leveraged buyout, valued at $55 billion, stands as the largest of its kind in history. 

Beyond participating with private equity, sovereign wealth funds are aggressively expanding their in-house investment teams to execute more direct investments. This strategy allows them to capture profits without paying fees to Wall Street banks. 

They have also become major backers of private equity funds, successfully negotiating privileges that grant them co-investment rights alongside these funds in exchange for their substantial capital commitments. 

Heavy tech and AI focus 

The technology sector has been a particular focus for these funds. In August, ADIA supported Thoma Bravo鈥檚 acquisition of HR software provider Dayforce Inc. for nearly $12 billion. 

MGX, backed by the Abu Dhabi government and overseen by Sheikh Tahnoon bin Zayed Al Nahyan, has invested in OpenAI at a $500 billion valuation. It has also supported Elon Musk鈥檚 xAI venture and plans to contribute to the 鈥淪targate鈥 project announced by US President Donald Trump. 

Meanwhile, Singapore鈥檚 GIC and the Qatar Investment Authority have both invested substantial capital in OpenAI鈥檚 competitor, Anthropic. 

Wall Street sees deals continuing

Senior investment bankers anticipate that the M&A wave will persist. Goldman Sachs has predicted that deal activity will accelerate by year-end, with 2026 potentially setting a new record for the M&A market. 

Sovereign funds continue to hunt for new opportunities. For instance, the asset management arm of Mubadala is reportedly considering a bid for outdoor advertising company Clear Channel Outdoor Holdings Inc., which has a market value of approximately $930 million. 

Their investment interests are also expanding beyond direct acquisitions. Qatar Investment Authority recently participated in an over $2 billion funding round for a new company founded by Hollywood super-agent Ari Emanuel, alongside other investors like Apollo Global Management and Ares Management.