عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Israeli Shekel Falls to Almost 8-year Low

New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File photo Acquire Licensing Rights
New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File photo Acquire Licensing Rights
TT
TT

Israeli Shekel Falls to Almost 8-year Low

New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File photo Acquire Licensing Rights
New Israeli Shekel banknotes are seen in this picture illustration taken November 9, 2021. REUTERS/Nir Elias/Illustration/File photo Acquire Licensing Rights

The Israeli shekel fell to an almost eight-year low against the US dollar on Monday as conflict in the Middle East escalates.

Fighters from Hamas killed 700 Israelis and abducted dozens more as they attacked Israeli towns on Saturday.

In response, Israeli air strikes hit housing blocks, tunnels, a mosque and homes of Hamas officials in Gaza on Sunday.

According to Reuters, the currency pair is not particularly active during Asian hours.

The shekel was last down more than 3% against the dollar at 3.9581.

Most Viewed

 
 
Business

Saudi Arabia Plans Promotion Campaign in Kuwait

The Saudi Export Development Authority’s pavilion at an exhibition (Export Development Authority website)
The Saudi Export Development Authority’s pavilion at an exhibition (Export Development Authority website)
TT
TT

Saudi Arabia Plans Promotion Campaign in Kuwait

The Saudi Export Development Authority’s pavilion at an exhibition (Export Development Authority website)
The Saudi Export Development Authority’s pavilion at an exhibition (Export Development Authority website)

The Saudi Export Development Authority is scheduled to begin a promotion campaign in Kuwait from September 29 until October 1 as part of a broader strategy to enhance national service export opportunities through targeted market access tours.
According to the Authority, the tour will feature a series of visits for leading national companies across various sectors, including logistics services, communications and information technology, consulting, and medical services.
These companies will showcase their offerings to both government and private entities in Kuwait, fostering increased trade between the two nations.
The tour is also expected to bolster the presence of Saudi non-oil products and services in the Kuwaiti market, where Saudi exports exceeded 3.7 billion Saudi rial ($986.36 million) in the first half of 2024.
Saudi Exports spokesman Thamer Al-Meshrafi said that through the tour in the Kuwaiti market, the Authority aims to establish links between the Saudi exporters and the Kuwaiti importers and facilitate mechanisms of the non-oil exports to Kuwait.
Al-Meshrafi added that the overall Saudi service experts in 2023 hit 182 billion riyals ($479 million), rising by 40% as compared to the previous year.
Several prominent national companies from the services sector will participate in the tour alongside representatives from four government agencies: the Zakat, Tax, and Customs Authority; the Digital Government Authority; the Transport General Authority; and the Saudi Contractors Authority.