Latest news with #EidAlFitr
Argaam
3 days ago
- Business
- Argaam
POS transactions reach SAR 10.9B last week: SAMA
The point-of-sale (POS) transactions in Saudi Arabia reached nearly SAR 10.9 billion in the week ended June 21, compared to about SAR 11.1 billion a week earlier. The number of POS transactions reached about 202.5 million last week, compared to nearly 203.8 million in the previous week, according to data issued by the Saudi Central Bank (SAMA). POS transactions represent consumer expenditure through debit and credit cards at major shopping centers, retail outlets, pharmacies, and others. The data indicated that the value of sales via POS increases in the weeks that coincide with the disbursement of salaries to government employees (the 27th of each month), in addition to the weeks that coincide with school vacations and the weeks preceding Eid Al-Fitr and Eid Al-Adha. On the other hand, the value of sales decreases in the weeks preceding salary disbursement and those coinciding with the start of the back-to-school season. The moving average value of POS transactions stood at about SAR 13.13 billion in 2025. Adopting the four-week moving average, the value of POS transactions soared during 2024 compared to 2023 and 2022. The average value of sales ranged between SAR 11 billion and SAR 14 billion in 2024, compared to SAR 10 billion to SAR 13 billion in 2023 and SAR 9 billion to SAR 12 billion in 2022. For the week ended on June 21, consumer spending was focused on the food and beverage (F&B) sector, representing 14.6% (SAR 1.60 billion) of last week's total POS transactions, followed by the restaurants and cafes sector at 14.1% (SAR 1.54 billion). Riyadh led in terms of POS transaction value by region, with approximately SAR 3.91 billion, representing 35.7% of the total. Jeddah followed with SAR 1.60 billion (14.6%). According to the latest data from the Saudi Central Bank (SAMA), e-payments in the retail (individuals) sector reached 79% of total payments carried out by individuals in the Kingdom during 2024. This achieved the target ratio in the Financial Sector Development Program, one of Vision 2030's programs, which aims to reach an e-payment ratio of 70% by 2025. Over the past few years, Saudi Arabia has witnessed remarkable progress and rapid growth in e-payment adoption, thanks to the myriad strategic efforts and initiatives launched by SAMA, in cooperation with the financial sector, to support the growth of the payments sector and stimulate the use of various e-payment methods in the Kingdom.
Arabian Business
3 days ago
- General
- Arabian Business
UAE Ramadan and Eid 2026: Expected dates for Ramadan, Eid Al Fitr and Eid Al Adha announced
Expected dates for Ramadan 2026 in the UAE have been announced by the Emirates Astronomy Society. The Emirates Astronomy Society forecasts Ramadan will begin on February 18, 2026, with Eid Al Fitr likely on March 20 and Eid Al Adha on May 27. Ibrahim Al Jarwan, chairman of the board of directors of the Emirates Astronomy Society, shared expected dates for holidays and events next year. When is Ramadan 2026 in the UAE? The Emirates Astronomy Society has announced the expected start date for Ramadan 2026 in the UAE as Wednesday, February 18, 2026, based on advanced astronomical calculations. However, official confirmation will be made closer to the time by the UAE's moon-sighting committee, as Islamic months begin and end based on the sighting of the crescent moon. Ramadan is the ninth month of the Islamic lunar calendar, observed by millions of Muslims worldwide. It is a period of fasting from dawn to sunset, prayer, spiritual reflection, and charitable giving. The fast is broken each evening with iftar, often beginning with dates and traditional dishes. When is Eid Al Fitr 2026 in the UAE? Ibrahim Al Jarwan said, according to forecasts, Eid Al Fitr 2026 is expected to begin on Friday, March 20, 2026, marking the end of Ramadan. Eid Al Fitr falls on the first day of Shawwal, the month that follows Ramadan. Final confirmation will depend on moon sighting. It is traditionally celebrated with morning prayers, family gatherings, and festive meals, and is one of the most anticipated public holidays in the UAE. When is Eid Al Adha 2026 in the UAE? Eid Al Adha 2026 is expected to fall on Wednesday, May 27, 2026, corresponding to the tenth day of Dhu Al Hijjah, the final month of the Islamic calendar. The Emirates Astronomy Society forecast the following timeline: 1 Dhu Al Hijjah (start of the month): Monday, May 18, 2026 8 Dhu Al Hijjah (start of Hajj): Monday, May 25, 2026 9 Dhu Al Hijjah (Day of Arafah): Tuesday, May 26, 2026 10 Dhu Al Hijjah (Eid Al Adha): Wednesday, May 27, 2026 Eid Al Adha, also known as the 'Festival of Sacrifice', is the culmination of the annual Hajj pilgrimage, and a time of prayer, sacrifice, and sharing meals with family and the less fortunate. UAE Islamic Holidays 2026 expected dates Holiday Expected Date Ramadan starts Wednesday, February 18, 2026 Eid Al Fitr Friday, March 20, 2026 Hajj begins Monday, May 25, 2026 Day of Arafah Tuesday, May 26, 2026 Eid Al Adha Wednesday, May 27, 2026 All dates are subject to moon sighting and may shift by one day. Why Do Ramadan and Eid Dates Change Each Year? The Islamic calendar is lunar-based and consists of 12 months and 354 or 355 days — around 10 to 11 days shorter than the Gregorian calendar. This causes Ramadan and Eid dates to shift earlier each year by about 10 days.
Time of India
3 days ago
- Business
- Time of India
Muharram 2025 begins: Hijri New Year confirmed after moon sighting in Saudi Arabia
Following the moon sighting in Saudi Arabia on June 25, the Hijri New Year 1447 officially commenced, with the UAE set to observe a holiday on June 27/ (Representational image) The Islamic New Year, also known as Hijri New Year, has officially begun as the crescent moon marking the start of Muharram 1447 was sighted in Saudi Arabia on the evening of Wednesday, June 25, 2025, after Maghrib prayers. This signifies that the previous month, Dhul Hijjah, (May 28, 2025 to June 25, 2025 in the Gregorian calendar) concluded with 29 days this year. Following the moon sighting, the UAE has announced a one-day public holiday on Friday, June 27, for both the public and private sectors, allowing residents to observe the sacred occasion. The announcement aligns with Islamic traditions and is consistent with regional lunar calendar observances. Understanding Hijri New Year: A Spiritual Milestone The Islamic or Hijri New Year commemorates a foundational moment in Islamic history, the Hijrah (migration) of the Prophet Muhammad from Mecca to Medina in the year 622 CE. This event not only marks the beginning of the Islamic lunar calendar, but also symbolizes the emergence of a united Muslim community and the early formation of Islamic society and law. While the occasion does not involve festive celebrations on the scale of Eid Al Fitr or Eid Al Adha, it remains a significant spiritual and cultural event. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo The day encourages personal reflection, increased prayer, and religious contemplation, especially in the wake of the annual Hajj pilgrimage that concludes days prior, in Dhul Hijjah. Muharram : A Sacred Month of Peace and Reflection The month of Muharram is among the four sacred months in Islam during which warfare is forbidden, a directive rooted in Islamic scripture and tradition. This restriction elevates the month's spiritual status, making it a time for heightened devotion, charitable acts, and inner reflection. The 1st of Muharram heralds not just a new calendar year, but also an invitation for Muslims worldwide to renew their spiritual goals and intentions. As such, many believers use this time to revisit their faith practices, set moral resolutions, and seek forgiveness. More than 20 countries, including the United Arab Emirates, Morocco, and Syria, officially recognize the Hijri New Year as a national holiday. This global observance reinforces the cultural and religious relevance of the occasion across diverse Muslim-majority nations. Why the Date Changes Every Year The Islamic calendar, known as the Hijri calendar, is lunar-based, meaning it follows the phases of the moon rather than the solar cycle. Each lunar month begins with the sighting of the new crescent moon, which causes Islamic dates, including Ramadan, Eid Al Fitr, and Eid Al Adha, to shift approximately 10 to 12 days earlier each year in the Gregorian calendar. As a result, the Islamic New Year does not fall on a fixed Gregorian date annually. For 2025, the crescent moon was sighted in Saudi Arabia on June 25, marking the start of Muharram 1447. In Summary The Islamic New Year (Hijri New Year) began on June 25, 2025, as the crescent moon of Muharram 1447 was sighted in Saudi Arabia. The UAE will observe a public holiday on Friday, June 27, for both public and private sectors. The Hijri calendar starts from 622 CE, the year of Prophet Muhammad's migration from Mecca to Medina, known as the Hijrah. Muharram, the first month of the Islamic calendar, is one of the four sacred months during which warfare is prohibited, emphasizing peace, prayer, and reflection. Over 20 nations, including the UAE, recognize this day as a national holiday.
The National
3 days ago
- Science
- The National
When is Ramadan 2026? Date forecast by Emirates Astronomy Society
The Emirates Astronomy Society on Wednesday forecast when Ramadan 2026 will begin as it looked ahead to Islamic New Year on Friday. The Islamic, or Hijri, New Year, heralds the beginning of Muharram, the first of 12 months of the year 1447 on the Islamic calendar. Ramadan will begin on February 18, 2026, according to Ibrahim Al Jarwan, chairman of the board of directors of the Emirates Astronomy Society. He also forecast that Eid Al Fitr will begin on March 20, 2026, and Eid Al Adha on May 27, 2026. There will be a total lunar eclipse visible from the UAE on September 7, 2025, he added, and again on March 3, 2026, albeit not visible from the Emirates. In contrast to Eid Al Fitr and Eid Al Adha, no religious observances are prescribed for the Islamic New Year. It is generally regarded as a day of reflection rather than celebration. Expected dates for next UAE public holidays Meanwhile, there are more public holidays to look forward to this year. After the Islamic New Year, the Prophet Mohammed's birthday is expected to be marked on Thursday, September 4. Commemoration Day is pencilled in for Monday, December 1, while National Day celebrations will probably be held on Tuesday, December 2, and Wednesday, December 3.
Argaam
18-06-2025
- Business
- Argaam
POS transactions reach SAR 11.1B last week: SAMA
The point-of-sale (POS) transactions in Saudi Arabia reached nearly SAR 11.1 billion in the week ended June 14, compared to about SAR 14.1 billion a week earlier. The number of POS transactions reached about 203.8 million last week, compared to nearly 228.2 million in the previous week, according to data issued by Saudi Central Bank (SAMA). POS transactions represent consumer expenditure through debit and credit cards at major shopping centers, retail outlets, pharmacies, and others. The data indicated that the value of sales via POS increases in the weeks that coincide with the disbursement of salaries to government employees (the 27th of each month), in addition to the weeks that coincide with school vacations and the weeks preceding Eid Al-Fitr and Eid Al-Adha. On the other hand, the value of sales decreases in the weeks preceding salary disbursement and those coinciding with the start of the back-to-school season. The moving average value of POS transactions stood at about SAR 13.13 billion in 2025. Adopting the four-week moving average, the value of POS transactions soared during 2024 compared to 2023 and 2022. The average value of sales ranged between SAR 11 billion and SAR 14 billion in 2024, compared to SAR 10 billion to SAR 13 billion in 2023 and SAR 9 billion to SAR 12 billion in 2022. For the week ended on June 14, consumer spending was focused on the restaurants and cafes sector, representing 16.2% (SAR 1.80 billion) of last week's total POS transactions, followed by the food and beverage (F&B) sector at 15.5% (SAR 1.73 billion). Riyadh led in terms of POS transaction value by region, with approximately SAR 3.59 billion, representing 32.3% of the total. Jeddah followed with SAR 1.59 billion (14.3%). According to the latest data from the Saudi Central Bank (SAMA), e-payments in the retail (individuals) sector reached 79% of total payments carried out by individuals in the Kingdom during 2024. This achieved the target ratio in the Financial Sector Development Program, one of Vision 2030's programs, which aims to reach an e-payment ratio of 70% by 2025. Over the past few years, Saudi Arabia has witnessed remarkable progress and rapid growth in e-payment adoption, thanks to the myriad strategic efforts and initiatives launched by SAMA, in cooperation with the financial sector, to support the growth of the payments sector and stimulate the use of various e-payment methods in the Kingdom.
