logo

Saudi industrial production index up 7.9% in June

Zawya4 days ago
The Saudi industrial production index increased by 7.9% in June compared to the same month the previous year, according to the Industrial Production Index bulletin issued by the General Authority for Statistics (GASTAT).
The GASTAT issues the index on a monthly basis. This economic indicator reflects relative changes in the volume of industrial production based on data from the Industrial Production Survey, conducted on a sample of industrial establishments operating in targeted industrial activities.
These are mining and quarrying, manufacturing, electricity, gas, steam, and air conditioning supply, as well as water supply, sewerage, waste management, and remediation activities.
As per the GASTAT bulletin, the mining and quarrying sub-index rose 6% year-on-year, while the manufacturing sub-index climbed by 11.1%.
The results also showed that the sub-index for electricity, gas, steam, and air conditioning supply grew by 5.6%, while the water supply, sewerage, waste management, and remediation activities sub-index recorded an increase of 6.9% compared to June of the previous year, reported SPA.
Based on main economic activities, the results indicated that the oil activities index rose by 7.7% in June 2025, while the non-oil activities index increased 8.6%.
Syndigate.info).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

India's Modi announces new defence system 'Sudarshan Chakra', tax cuts on Independence Day
India's Modi announces new defence system 'Sudarshan Chakra', tax cuts on Independence Day

Khaleej Times

timean hour ago

  • Khaleej Times

India's Modi announces new defence system 'Sudarshan Chakra', tax cuts on Independence Day

Indian Prime Minister Narendra Modi urged the country on Friday to move towards more self-reliance, manufacture everything from fertilisers to jet engines and EV batteries, and vowed to protect farmers in the face of a trade conflict with Washington. With tariffs imposed on Indian exports by US President Donald Trump expected to hurt growth in the world's fastest growing major economy, Modi announced lower goods and services taxes (GST) from October, a move that could help boost consumption. He also announced India would set up a new defence system called 'Sudarshan Chakra'. He did not elaborate but a government statement said the system is aimed at neutralising enemy infiltrations and enhancing India's offensive capabilities. Indian defence and policy circles have informally referred to the Russian S-400 air defence system, which played a key role during the fighting with Pakistan, as Sudarshan Chakra, after a weapon referred to in Hindu texts. Modi was addressing the nation on the occasion of its Independence Day at a time New Delhi has been struggling with Trump's tariffs and the collapse of trade talks, largely due to differences over imports of American farm and dairy products. "Farmers, fishermen, cattle rearers are our top priorities," Modi said in his customary annual address from the ramparts of the Red Fort in New Delhi. "Modi will stand like a wall against any policy that threatens their interests. India will never compromise when it comes to protecting the interests of our farmers," he said. Modi did not mention the tariffs or the US in his speech that lasted nearly two hours. Last week, Trump imposed an additional 25 per cent tariff on Indian goods, citing New Delhi's continued imports of Russian oil in a move that sharply escalated tensions between the two nations. The new import tax will raise duties on some Indian exports to as high as 50 per cent, among the highest levied on any US trading partner. Modi has never spoken about the tariffs directly, only alluding to them in a speech last week, where he swore to protect the interests of farmers, even if it came at a personal price. Farmers are a key political constituency in India and they violently protested against Modi's last big push to reform the sector, forcing him to repeal three farm laws in 2021 in what was a rare defeat for him. Tax cuts to boost consumption Although local manufacturing and self-reliance have been Modi's key focus areas for years now, the push is seen to have gained urgency amid ongoing global trade tensions and supply chain disruptions. "The need of the hour is to take a resolve for building a strong India ... I want our traders, shopkeepers to display boards for 'Swadeshi' products," Modi said, using the Hindi word for made in India goods. He said made-in-India semiconductor chips would hit the market by the end of this year and that India was pushing for self-reliance in producing critical minerals with exploration underway at more than 1,200 locations. Trump's tariffs threaten to disrupt India's access to its largest export market, where shipments totalled nearly $87 billion in 2024, hitting sectors like textiles, footwear, shrimp, gems and jewellery. In retaliation, some supporters of Modi have sought to stoke anti-American sentiment and called for a boycott of US companies such as McDonald's, Coca-Cola, Amazon and Apple. Trade talks between New Delhi and Washington collapsed after five rounds of negotiations over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. Modi's promise to cut GST by October's Diwali festival, which encompasses one of India's biggest shopping seasons, follows previous commitments to overhaul it by reducing the number of rate brackets under the 2017 tax regime. A group of ministers have been preparing a report that will consider merging tax slabs and lowering rates on some products. In February, India cut personal income tax for some individuals to boost spending. Earlier this month, the central bank kept interest rates steady, following a 100 basis point cut this year so far. The government has proposed to the ministers' panel that it recommend reducing taxes on mass use items as well as on goods used by women, students and farmers to boost consumption and enhance affordability, the finance ministry said in an X post. The government will move towards making GST a simple tax with two rate slabs, one standard and another merit, it said. Special rates will be applicable only for a few select items.

US manufacturing production stalls in July
US manufacturing production stalls in July

Zawya

time2 hours ago

  • Zawya

US manufacturing production stalls in July

U.S. factory production was unchanged in July suggesting manufacturing activity was stalling as businesses navigate higher costs from import tariffs. The unchanged reading in manufacturing output reported by the Federal Reserve on Friday followed an upwardly revised 0.3% increase in June. Economists polled by Reuters had forecast production for the sector, which accounts for 10.2% of the economy, dipping 0.1% after a previously reported 0.1% gain in June. Production at factories increased 1.4% on a year-over-year basis in July. Motor vehicle and parts output slipped 0.3% last month after falling 2.5% in June. Automobile manufacturers typically shut down production lines in July for the summer break as well as maintenance and retooling for new models. Excluding motor vehicles, factory output fell 0.1% after rising 0.5% in June. "Tariffs on various inputs to production, in particular steel and aluminum inputs, could mean longer or more broad-based shutdowns this summer," said Veronica Clark, an economist at Citigroup. President Donald Trump has imposed a 50% duty on steel and aluminum as well as a 25% tax on motor vehicles and parts. Trump has defended the duties as necessary to revive a long-declining U.S. industrial base, though economists argue that cannot be accomplished in a short period of time, citing high production and labor costs as among the challenges. There were solid increases in the production of electrical equipment, appliances and components, aerospace and miscellaneous transportation equipment as well as furniture and related products. But production of primary metals and machinery declined. Durable goods manufacturing production rose 0.3%. Nondurable manufacturing output decreased 0.4%, with production falling across all categories. Mining output fell 0.4% after easing 0.3% in the prior month. Utilities production slid 0.2%. That followed a 1.8% surge in June. Overall industrial production fell 0.1% after rising 0.4% in June. Industrial output advanced 1.4% on a year-over-year basis. Capacity utilization for the industrial sector, a measure of how fully firms are using their resources, declined to 77.5% from 77.7% in June. It is 2.1 percentage points below its 1972–2024 average. The operating rate for the manufacturing sector slipped to 76.8% from 76.9% in June. It is 1.4% percentage points below its long-run average. (Reporting by Lucia Mutikani; Editing by Andrea Ricci)

Kaspersky highlights biometric, signature risks with attempts up by 21.2% in UAE
Kaspersky highlights biometric, signature risks with attempts up by 21.2% in UAE

Tahawul Tech

time4 hours ago

  • Tahawul Tech

Kaspersky highlights biometric, signature risks with attempts up by 21.2% in UAE

Kaspersky has detected and blocked over 142 million phishing link clicks globally in Q2 2025, the UAE saw a 21.2% increase from Q1 in phishing attempts. Currently phishing is going through a shift driven by sophisticated AI-powered deception techniques and innovative evasion methods. Cybercriminals are exploiting deepfakes, voice cloning and trusted platforms like Telegram and Google Translate to steal sensitive data, including biometrics, electronic signatures and handwritten signatures, posing unprecedented risks to individuals and businesses. AI-powered tactics transforming phishing attacks AI has elevated phishing into a highly personalized threat. Large language models enable attackers to craft convincing emails, messages and websites that mimic legitimate sources, eliminating grammatical errors that once exposed scams. AI-driven bots on social media and messaging apps impersonate real users, engaging victims in prolonged conversations to build trust. These bots often fuel romantic or investment scams, luring victims into fake opportunities with AI-generated audio messages or deepfake videos. Attackers also create realistic audio and video deepfake impersonations of trusted figures — colleagues, celebrities or even bank officials — to promote fake giveaways or extract sensitive information. For instance, automated calls mimicking bank security teams use AI-generated voices to trick users into sharing two-factor authentication (2FA) codes, enabling account access or fraudulent transactions. Additionally, AI-powered tools analyze public data from social media or corporate websites to launch targeted attacks, such as HR-themed emails or fake calls referencing personal details. Employing new tactics to bypass detection Phishers are deploying sophisticated methods to gain trust, exploiting legitimate services to prolong their campaigns. For instance, Telegram's Telegraph platform, a tool to publish long texts, is used to host phishing content. Google Translate's page translation feature generates links that look like and are used by attackers to bypass security solutions' filters. Attackers now also integrate CAPTCHA, a common anti-bot mechanism, into phishing sites before directing users to the malicious page itself. By using CAPTCHA, these fraudulent pages deflect anti-phishing algorithms, as the presence of CAPTCHA is often associated with trusted platforms, lowering the likelihood of detection. A switch in hunting: from logins and passwords to biometrics and signatures The focus has shifted from passwords to immutable data. Attackers target biometric data through fraudulent sites that request smartphone camera access under pretexts like account verification, capturing facial or other biometric identifiers that cannot be changed. These are used for unauthorized access to sensitive accounts or sold on the dark web. Similarly, electronic and handwritten signatures, critical for legal and financial transactions, are stolen via phishing campaigns impersonating platforms like DocuSign or prompting users to upload signatures to fraudulent sites, posing significant reputational and financial risks to businesses. 'The convergence of AI and evasive tactics has turned phishing into a near-native mimic of legitimate communication, challenging even the most vigilant users. Attackers are no longer satisfied with stealing passwords — they're targeting biometric data, electronic and handwritten signatures, potentially creating devastating, long-term consequences. By exploiting trusted platforms like Telegram and Google Translate, and co-opting tools like CAPTCHA, attackers are outpacing traditional defenses. Users must stay increasingly skeptical and proactive to avoid falling victim,' said Olga Altukhova, security expert at Kaspersky. Earlier in 2025 Kaspersky detected a sophisticated targeted phishing campaign which was dubbed Operation ForumTroll, as attackers sent personalized phishing emails inviting recipients to the 'Primakov Readings' forum. These lures targeted media outlets, educational institutions and government organizations in Russia. After clicking on the link in the email, no additional action was needed to compromise their systems: the exploit leveraged a previously unknown vulnerability in the latest version of Google Chrome. The malicious links were extremely short-lived to evade detection and in most cases ultimately redirected to the legitimate website for 'Primakov Readings' once the exploit was taken down. To be protected from phishing, Kaspersky recommends: Verify unsolicited messages, calls, or links, even if they appear legitimate. Never share 2FA codes. Scrutinize videos for unnatural movements or overly generous offers, which may indicate deepfakes. Deny camera access requests from unverified sites and avoid uploading signatures to unknown platforms. Limit sharing sensitive details online, such as document photos or sensitive work information. Use Kaspersky Next (in corporate environments) or Kaspersky Premium (for individual use) to block phishing attempts.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store