Al-Jaghbeer: The Industrial Sector Leads Economic Growth
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The Riyad Bank Purchasing Managers' Index reported slight growth in Saudi Arabia's non-oil private sector in August, with increased new orders and improved demand and employment conditions.
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Middle East Airlines was affected by a global crisis involving Pratt & Whitney engines on Airbus A320neo planes, causing 3 planes in its fleet to be grounded. The company leased 3 planes to cover flights and offered additional miles to affected business class passengers.
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Tariffs imposed by Trump during his second term face a critical legal challenge that could force the US to return over $200 billion to American companies if he loses the case.
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Egypt's non-oil private sector contracted for the sixth consecutive month in August due to weak demand, while easing cost pressures offered some relief to businesses, according to Standard & Poor's Global.
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UNIFIL reported that Israeli drones dropped four bombs near its peacekeepers in southern Lebanon in one of the most serious attacks since the November ceasefire. France called for protection of UN personnel, while Qatar condemned the attack as a violation of international humanitarian law.
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DP World has launched the "Atlas" service to reduce delivery times for Moroccan fruit and vegetable exports to Britain and Northern Europe, significantly cutting carbon emissions and improving product quality.
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The S&P 500 and Nasdaq indices rose Wednesday, supported by gains from Alphabet after a favorable antitrust ruling, while investors await labor market data that may impact U.S. interest rate decisions.
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Gemini Space Station plans to raise about $316.7 million in its IPO in the U.S., with an expected market value of $2.2 billion. Founded in 2014 by the Winklevoss twins, the company offers crypto trading and custody services.
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The exchange rates of the US dollar and major foreign and Arab currencies declined against the Egyptian pound inside Egyptian banks, with the dollar price ranging between 48.43 and 48.58 EGP for buying, and between 48.53 and 48.68 EGP for selling, following the Central Bank of Egypt's interest rate cut.
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The UAE ranks second globally in the 2025 Quality of Life Index, leading in safety and essential services, and excelling in healthcare, job opportunities, and culture, making it a preferred destination for living and working.
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