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Report: Saudi Arabia and UAE to Lead $6 Billion Gaming Industry in the Region

RIYADH: Led by a young and digital-savvy population, Saudi Arabia and the UAE are set to spearhead the Middle East and North Africa’s gaming sector, positioning it for a $6 billion valuation by 2027, according to the Dubai Multi Commodities Centre’s latest study.    The DMCC report titled “Future of Trade 2023 Gaming in the MENA: Geared for Growth” revealed that the region’s gaming industry is reaping substantial returns.   

Saudi Banks’ April Profits Jump 3.4% to $1.55B

RIYADH: The aggregate profit of banks operating in Saudi Arabia increased by 3.4 percent year on year in April to reach SR5.78 billion ($1.55 billion), according to the latest figures released by the Saudi Central Bank, also known as SAMA.  The report, however, noted that the aggregate profits of Saudi banks fell by SR1.65 billion month on month in April. In March, banks in Saudi Arabia reported an aggregate profit of SR7.43 billion. 

Saudi Arabia’s Merchandise Exports Increase to $28 Billion, Up 4.4%

RIYADH: Saudi Arabia's total merchandise exports rise by 4.4 percent in March to SR106.1 billion ($28.29 billion), compared to SR101.1 billion in the previous month, according to the latest report released by the General Authority for Statistics.  The report, however, noted that the Kingdom's overall merchandise exports fell 25.3 percent year-on-year in March, as the value of exports amounted to SR142 million in the same month of 2022. 

Real Madrid beats Rayo with Rodrygo’s late goal and tributes to Vinicius Junior.

MADRID: Rodrygo scored an 89th-minute winner as Real Madrid defeated Rayo Vallecano 2-1 in a Spanish league match marked by tributes to Madrid forward Vinicius Junior on Wednesday. It was Madrid’s first game since the latest case of racial abuse against Vinicius, who considered leaving the field Sunday after being insulted by Valencia fans. Rodrygo celebrated by raising his right fist above his head in a stance against racism. He dedicated the goal to his Brazil teammate.

“42% Increase in Passengers at Saudi Airports in First 4 Months of 2023”

RIYADH: Fueled by significant growth in the Saudi travel and tourism sector, air traffic witnessed a strong rebound during the first four months of 2023, recording a 42 percent increase in the number of passengers compared to the same period last year. According to the latest report issued by the General Authority of Civil Aviation, the number of passengers jumped to 35.8 million in the first four months of 2023, up from 25.3 million during the same period last year.

Vinicius Junior accuses Spanish league of racism after facing more abuse

MADRID: Vinícius Júnior was subjected to racist abuse yet again on Sunday with the Brazil star saying the Spanish league “now belongs to racists.” The latest abuse against Vinícius came in Real Madrid’s 1-0 loss at Valencia, a match that had to be temporarily stopped after the Brazil forward said he was insulted by a fan behind one of the goals at Mestalla Stadium.

“Russian Ruble Gains Slightly Amid New Western Sanctions”

LONDON: The Russian ruble firmed on Friday, pushing back past the level of 80 to the US dollar, helped by higher oil prices but still hampered by reduced foreign currency supply and the latest Western sanctions, according to Reuters. By 11:03 a.m. Saudi time, the ruble was 0.4 percent stronger against the dollar at 79.93, and had gained 0.4 percent to trade at 86.22 versus the euro. It had firmed 0.3 percent against the yuan to 11.37.

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