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Qatar's Emir Sheikh Tamim bin Hamad al-Thani on Wednesday named an ambassador to Saudi Arabia, just weeks after the Kingdom named Prince Mansour bin Khalid bin Farhan to serve as the Saudi ambassador to Qatar.

Fintech Saudi, an initiative launched by the Saudi Central Bank (SAMA) in partnership with the Capital Market Authority (CMA), has announced the results of the National Fintech Adoption Survey, a first of its kind measurement in Saudi Arabia of the people’s interest in adopting fintech solutions.

Saudi Aramco generated a net income of $25.5 billion in the second quarter of 2021, beating expectations and boosting the company's earnings to nearly quadruple its earnings from the same quarter last year.

Saudi-based petrochemicals giant SABIC hit a $2 billion quarterly profit in the second quarter of this year as a healthy global demand for its products drove sales, according to reports.

A third straight monthly gain for oil is benefitting the Saudi economy, as SAMA FX reserves rose in June by $8.8 billion month-on-month and the non-oil PMI was unchanged at 56.4, indicating continued growth, a recently-released monthly Chartbook by Jadwa Investment for the month of June notes.