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SAMA Assets Reach Highest Level in 5 Years

The ministers of Justice and Trade during a visit to the Saudi Center for Economic Business in Riyadh on Sunday. (Asharq Al-Awsat)
The ministers of Justice and Trade during a visit to the Saudi Center for Economic Business in Riyadh on Sunday. (Asharq Al-Awsat)
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SAMA Assets Reach Highest Level in 5 Years

The ministers of Justice and Trade during a visit to the Saudi Center for Economic Business in Riyadh on Sunday. (Asharq Al-Awsat)
The ministers of Justice and Trade during a visit to the Saudi Center for Economic Business in Riyadh on Sunday. (Asharq Al-Awsat)

The total assets of the Saudi Central Bank (SAMA) surpassed SR2 trillion (USD535 billion) in July, for the first time in five years.

According to the data announced in the monthly statistical bulletin issued by SAMA on Sunday, the assets of the Saudi Central Bank recorded a growth of SR156.7 billion, compared to July 2021.

Moreover, Saudi Arabia’s foreign reserve assets increased by 5.1 percent at the end of July, on an annual basis, reaching SR84.49 billion (USD22.53 billion).

On the other hand, the Saudi Central Bank’s investments in foreign securities, which represent about 57 percent of its total assets, declined to about SR1,124 billion, by the end of July.

Meanwhile, the deputy minister of Commerce and General Supervisor of the Saudi Center for Economic Affairs, Dr. Iman Al-Mutairi, revealed that the center, which was established in March 2020, has implemented 450,000 different services provided by the concerned authorities in 12 branches across the Kingdom.

Her remarks came during a visit to the center’s Riyadh branch, conducted by the Saudi minister of Commerce, Dr. Majid Al-Qasabi, accompanied by the minister of Justice, Dr. Walid Al-Samaani, and the Chairman of the Council of Experts in the Council of Ministers, Mohammad Al-Ajaji.

The visit took place on the sidelines of the third meeting of the Legal Committee of the National Competitiveness Center, with the participation of the Assistant Chairman of the Experts Authority in the Council of Ministers, Bader Al-Hadab.

Mutairi noted that the branches facilitated services to the business sector, which are provided by the ministries of Commerce, Investment, Human Resources and Social Development, Municipal and Rural Affairs and Housing, the Zakat, Tax and Customs Authority, the General Organization for Social Insurance, and the Saudi Chambers of Commerce.

The center was established by a decision of the Council of Ministers with the aim of making the Kingdom one of the leading countries in the world in the quality and efficiency of government services directed to the business sector. It is organizationally linked to the Council of Economic and Development Affairs.

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Moody’s Warns US Tariffs May Hurt India’s Manufacturing Push, Slow Growth 

08 August 2025, India, New Delhi: A shopkeeper reflected on a mirror waits for customers at a jewelry shop. (dpa)
08 August 2025, India, New Delhi: A shopkeeper reflected on a mirror waits for customers at a jewelry shop. (dpa)
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Moody’s Warns US Tariffs May Hurt India’s Manufacturing Push, Slow Growth 

08 August 2025, India, New Delhi: A shopkeeper reflected on a mirror waits for customers at a jewelry shop. (dpa)
08 August 2025, India, New Delhi: A shopkeeper reflected on a mirror waits for customers at a jewelry shop. (dpa)

US President Donald Trump's steep 50% tariffs on Indian imports could severely undermine India's manufacturing ambitions and slow economic growth, Moody's Ratings said on Friday.

Trump imposed an additional 25% tariff on Indian goods on Wednesday, citing New Delhi's continued purchases of Russian oil, taking the total tariff to 50% — far higher than those levied on other Asia-Pacific countries.

Moody's said India's real GDP growth may slow by around 0.3 percentage points from its current forecast of 6.3% for the fiscal year ending March 2026.

"Beyond 2025, the much wider tariff gap compared with other Asia-Pacific countries would severely curtail India's ambitions to develop its manufacturing sector, particularly in higher value-added sectors such as electronics, and may even reverse some of the gains made in recent years in attracting related investments," the ratings agency said.

Reducing Russian oil imports to avoid penalty tariffs could also make it harder for India to secure alternative crude supplies in sufficient quantities, Moody's said.

A larger import bill would widen the current account deficit, especially amid weaker tariff competitiveness that could deter investment inflows.

"We expect there will likely be a negotiated solution that falls between the two scenarios described above," Moody's said.

"The magnitude of the drag on growth from tariff obstacles will influence the government's decision to pursue a fiscal policy response, although we anticipate the government will adhere to its focus on gradual fiscal and debt consolidation."

The Reserve Bank of India (RBI) kept its key rates unchanged as expected on Wednesday and retained its "neutral" policy stance following a surprise 50-basis-point rate cut in June.

Global trade uncertainties, fueled by the US tariffs, have also unsettled foreign investors. Foreign portfolio investors have sold $900 million worth of Indian equities so far in August, after $2 billion in outflows in July.

India's benchmark equity indices — the Nifty 50 and the Sensex — fell 2.9% in July and are down 0.7% so far in August, as investor anxiety rises amid escalating trade tensions.