Saudi online marketplace Soum closes $18m in a series A funding round  

Saudi online marketplace Soum closes $18m in a series A funding round  
Saudi online marketplace Soum closes $18m in a series A funding round  

Thank you for reading the news about Saudi online marketplace Soum closes $18m in a series A funding round   and now with the details

Jeddah - Yasmine El Tohamy - RIYADH: Qatar’s Industrial Production Index experienced an uptick in the third quarter of 2023 to reach 105.08 points, marking a 1.7 percent increase from the previous quarter, according to official data.   

The latest report released by Qatar’s Planning and Statistics Authority showed that the IPI rose by 0.8 percent compared to the same three-month period in 2022. 

Delving into the specific sectors contributing to the index, several changes were evident in this quarter. 

The mining and quarrying sector index reached 104.39 points, reflecting a 1.2 percent increase. Similarly, the manufacturing industry index scored 105.19 points, indicating a 1.7 percent upswing.    

Notably, the electricity supply sector index exhibited substantial growth, reaching 150.29 points and experiencing a 35.2 percent increase. The water supply sector index also saw positive movement, reaching 109.54 points and marking a 4.9 percent increase. 

Within the industrial production index basket, sectors and their respective weights were delineated.  

The mining sector, inclusive of oil and gas extraction, carried a substantial weight of 82.46 percent. The manufacturing sector, encompassing locally produced goods like food industries and petroleum refining, held a weight of 15.85 percent.  

The electricity sector, covering power generation and distribution, had a weight of 1.16 percent, while the water sector, including collection and treatment, accounted for 0.53 percent. 

In comparing the third quarter of 2023 to the previous three-month period, the mining sector’s index increased by 1.2 percent, attributed to a rise in the “extraction of crude oil and natural gas” group and a decrease in other mining and quarrying. 

The manufacturing sector’s index, comprising eight sub-groups, rose by 1.7 percent, with increases in six groups and decreases in two groups. 

The electricity supply sector’s index surged by 35.2 percent, though its small relative weight had a negligible impact on the general index, and the water supply sector’s index increased by 4.9 percent, with minimal impact on the general index due to its small relative weight. 

Comparing the third quarter of this year to the corresponding period of 2022, the data showed that the mining sector’s index increased by 1.1 percent, driven by a rise in the “extraction of crude oil and natural gas” group and a decrease in other mining and quarrying. 

While the manufacturing sector’s index decreased by 1.6 percent, with declines in six groups and increases in two groups. 

The electricity supply sector’s index rose by 7.6 percent, with minimal impact on the general index and the water supply sector’s index increased by 1.4 percent, with insignificant impact on the general index due to its small relative weight. 

These were the details of the news Saudi online marketplace Soum closes $18m in a series A funding round   for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at Arab News and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

NEXT US Fed holds key rate steady for fourth straight meeting

Author Information

I am Joshua Kelly and I focus on breaking news stories and ensuring we (“Al-KhaleejToday.NET”) offer timely reporting on some of the most recent stories released through market wires about “Services” sector. I have formerly spent over 3 years as a trader in U.S. Stock Market and is now semi-stepped down. I work on a full time basis for Al-KhaleejToday.NET specializing in quicker moving active shares with a short term view on investment opportunities and trends. Address: 838 Emily Drive Hampton, SC 29924, USA Phone: (+1) 803-887-5567 Email: [email protected]