logo
Saudi holdings of US Treasuries drop by $6.1B in May

Saudi holdings of US Treasuries drop by $6.1B in May

Argaam3 days ago
Saudi Arabia's holdings of US Treasuries decreased by $6.1 billion month-on-month to $127.7 billion in May, recent data released by the US Treasury showed.
Accordingly, the Kingdom maintained its 17th place among the largest holders of US Treasuries for the month.
Saudi Arabia's holdings of US Treasuries were distributed among long-term bonds worth $102 billion, representing 80% of the total. Meanwhile, short-term bonds amounted to $25.8 billion, accounting for 20%.
Japan was the top holder of US Treasuries by value in May, with $1.13 trillion, followed by the UK ($809.4 billion).
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Golf Saudi partners with Five Iron Golf to expand sport across Kingdom
Golf Saudi partners with Five Iron Golf to expand sport across Kingdom

Arab News

time2 hours ago

  • Arab News

Golf Saudi partners with Five Iron Golf to expand sport across Kingdom

RIYADH: Golf Saudi has announced a strategic partnership with Five Iron Golf — a global leader in immersive golf experiences — to launch a series of advanced indoor golf venues across Saudi Arabia. For the latest updates, follow us @ArabNewsSport The collaboration supports Golf Saudi's mission to broaden community engagement and build a sustainable, inclusive golf ecosystem in alignment with the Kingdom's Vision 2030's goals for the sports sector. The first Five Iron Golf venue is scheduled to open in Riyadh in the first quarter of 2026. Located on the ground floor of the iconic PIF Tower in the King Abdullah Financial District — one of the region's most advanced business hubs — it is set to become one of the world's most prominent indoor golf destinations, adding a new dimension to Saudi Arabia's evolving sports and entertainment landscape. Spanning approximately 1,500 sq. meters, the venue will combine Five Iron Golf's signature mix of cutting-edge technology, vibrant hospitality, and immersive design at one of the Kingdom's most prestigious addresses. Founded in New York in 2017, Five Iron Golf has grown into a global brand with over 36 sites across 16 US states and five other locations — including Dubai, India, Singapore, and Australia. The company offers simulators, professional instruction, Callaway club fittings, a global membership program, and full-service hospitality. Backed by strategic investors such as Callaway Golf and Enlightened Hospitality Investment, Five Iron is rapidly expanding through both corporate development and franchising, with over 60 locations in the pipeline. The partnership aligns with Golf Saudi's vision to expand the sport's footprint across the Kingdom by introducing modern, accessible venues that appeal to all demographics — particularly youngsters and women. Golf Saudi and Five Iron aim to deliver a comprehensive, world-class model that blends technology, hospitality, and education to welcome players of all skill levels. Noah Alireza, CEO of Golf Saudi, said: 'We're thrilled to partner with Five Iron Golf to bring one of the world's most dynamic and inclusive golf experiences to Saudi Arabia. 'This collaboration reflects our shared commitment to expanding participation, developing youth talent, and building year-round golf infrastructure. Together, we aim to create a vibrant, accessible golf ecosystem across the Kingdom, in line with Vision 2030.' Jared Solomon, the co-founder and CEO of Five Iron Golf, said: 'We believe Five Iron is more than just a place to hit balls — it's a cultural experience that has helped shape the modern face of golf. We're excited to bring our brand, energy, and commitment to inclusivity to Saudi Arabia. 'As the Kingdom builds a vibrant golf ecosystem and inspires a new generation of golfers, we're proud to be part of this momentum and contribute to its broader success story.' Golf Saudi and Five Iron Golf plan to expand the model to additional cities in the future, further accelerating the Kingdom's golf development and reinforcing its regional leadership in the sport.

NDF inks SAR 5.5B credit facilities with Riyad Bank, SAB
NDF inks SAR 5.5B credit facilities with Riyad Bank, SAB

Argaam

time2 hours ago

  • Argaam

NDF inks SAR 5.5B credit facilities with Riyad Bank, SAB

Logo of National Development Fund (NDF) The National Development Fund (NDF) signed two credit facility agreements with Riyad Bank and Saudi Awwal Bank (SAB), at a value of SAR 5.5 billion. The facilities aim to provide more support for development projects in the Kingdom and enable its 12 development funds and banks to achieve their development goals, reinforce economic growth, and accelerate the pace of national transformation, the bank said, in a statement. It added that these partnerships represent a fundamental pillar for driving development and accelerating the achievement of the goals of Vision 2030 by supporting major projects and financing development initiatives that contribute to building a prosperous and sustainable economy for future generations.

GO Telecom inks framework pact with Syrian communications ministry
GO Telecom inks framework pact with Syrian communications ministry

Argaam

time3 hours ago

  • Argaam

GO Telecom inks framework pact with Syrian communications ministry

Etihad Atheeb Telecommunication Co. (GO Telecom) signed today, July 24, a five-year framework agreement with Syria's Ministry of Communications and Technology. The project's total value is expected to reach SAR 1.96 billion, the telco said in a statement to Tadawul. The agreement aims to enhance Syria's digital infrastructure through two data centers, a cybersecurity hub, cloud and disaster recovery systems, and a tech platform to support digital transformation. GO Telecom will train and qualify a ministry-appointed team to manage the project, in line with the technical specifications and obligations outlined in the agreement. The financial mechanism will be executed through separate contracts with the funding entity, GO Telecom noted, adding that the impact cannot yet be assessed and updates will be provided in due course. The actual scope, value, and payment schedule will be determined through work orders added to the agreement later.

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