Saudi Arabia
Though activity slowed due to higher production costs
Exclusives
Though activity slowed due to higher production costs
Project will create new investment opportunities in key sectors
A billion-dollar investment
MOU with Saudi Finance to establish IMF regional office in Kingdom
Offering will correspond to a 29.24% of the company's shares on Tadawul
To 9.7% in Q2, compared to 10.1% in Q1 2022
Revenue from the global gaming industry is expected to top $200 bn in 2022
The cabinet reshuffle kept Mohamed Al-Jadaan as Finance Minister
"National Day anniversary comes as we continue march towards development"
The Saudi economy is stronger than ever
Venture capital funding in Saudi surged to $584 mn in H1 2022
Global economy undergoing technological revolution driven by AI, IoT
Merchandise exports rose by 58.8% year on year
Dubai to also commemorate the occasion with events across the city
“Even if the conflict in Ukraine stopped today, the crisis would not end”
By selling existing shares, issuing new ones
Al-Suhaimi held for 20 years senior leadership financial positions in Saudi
Besides adding 39,000 jobs
Meat and poultry prices rose 6.7%
To place Kingdom at the forefront of AI tech in the region
Almosafer aims to use the investment to fund its growth and expansion plans
Summit covering all aspects of AI, ways to benefit from AI technologies
"Saudi priorities include localizing steel products of all types"
Initiative to also focus on forging partnerships with manufacturers from private sector
Saudi driving structural changes in the sector
Businesses should embrace rapidly changing “Saudization” initiatives
Existing, under-construction factories in Saudi reached 10,685 in July
Project expected to contribute SAR 11 bn to the country’s GDP
Agricultural crop production increased to 4.77 mn tons
Economic stagnation is not a condition for decline in oil demand
"We are committed to carry out vision programs, broaden economic base"
Economic growth is due to the significant increase in oil activities
“The Fund”: a decrease of about 20% in the direct share of oil in the GDP
As part of country’s $100 bln bet on tourism
On interest income growth
Total new orders rose at the fastest pace since October
To promote digital transformation in the real-estate sector
Largest capital increase for listed company in Saudi stock market
stc: "Today, we have reached 70% Saudisation rate"
Kingdom quickly recovered from pandemic-induced recession
Amid continued economic recovery
Investments of NHC in the Eastern Province exceed SAR20 bln
Saudi is one of Pakistan's largest donors
Its length is 1,160,000 meters long
Profits slightly increased by 3.6% in Q2 2022
This brings the total number of licensed fintech companies to 38
Project spans over 1.5m sqm area, set to add 47,000 hotel rooms by 2030
Oil exports jumped to SAR 117.7 bln, up from SAR 60.6 bln in 2021
Funding will be used to support innovation in payment and shopping
OPEC + will soon begin working on a new agreement for post-2022
Project is valued at $23 billion
Inflation will remain at 2.8 percent level in 2022
Including 1.97 billion riyals in Russian energy companies
Supported by strong product demand
Its market value reached about $2.8 trillion in 2021
F&B prices, transportation costs were the primary causes of rising inflation
46% increase in aircraft fleet, 57% in number of flights comparing to 2021
Announced a dividend of $18.8 billion
Combined value of fast-growing start-ups could come close to $100 bn
Driven by higher average selling prices
Intense competition pressures Saudi’s underwriting results
Foreign investment licenses increased by 674 percent yoy
The company intends to roll out 1,429 projects
Focusing on investing in several key sectors
Driven by an increase in total operating income
The highest quarterly surplus since data publication began in early 2016
Strategy aims to support partnerships between investors
Acquisition fits in with growth strategy for lubricants, says Aramco
It increased by 3% to 1.683 trillion riyals
Oil activities lead GDP growth by 11.8% in Q2
Will OPEC+ raise output at its next meeting?
Within the strategy of investing in leading firms
On higher operating income, lower expenses
Connecting electricity grids provides cheaper green energy
"The Line" addresses urgent challenges facing humanity
Non-oil exports increased by 27% to $7.4 billion
The deal is worth 192 million riyals
Airports to be granted flexibility to reduce charges below announced caps
In May, Saudi's PIF purchased a 16.87% stake in KHC
Supported by large fixed stock of oil reserves, stable financial system
To a record-high of SAR 2.19 billion
Saudi Foreign Minister Prince Faisal bin Farhan on official visit to Japan
Saudi, US sign 18 agreements and cooperation memoranda
The Crown Prince and the US President shake hands with fists
America acquires 11% of Saudi foreign trade in 10 years
The Public Investment Fund is betting on the future of the automotive and transportation
It seeks to transform the Kingdom into a global hub for air travel
Food and beverage segment has the greatest impact
In May, Jeddah reported its highest performance level since 2019
flynas teamed up with Amazon to offer the new service
S&P: Upturn underlined by a robust increase in new business levels
Allocations targeted several sectors including food and unemployment
Royal orders included the appointment of two deputy governors of SAMA
Single-stock futures will allow for more efficient portfolio risk management
The IPO order book was 47.5 times oversubscribed
Alnama will have 100% renewable energy
Saudi planning to develop a trillion-dollar global tourism economy
Companies Law facilitates establishment of organizations, encourages bold investment
The banking industry showed a resurgence with an increase in profit of 40.15%
Saudi contracting firm number reached 165K
Saudi's vital sector is estimated to have a yearly worth of $2 bn
With a focus on structural battery performance
China is the Kingdom's first major partner in commodity trade
Trade exchange during 5 years amounted to about 103 billion riyals
The Fund expects the Kingdom's GDP to grow by 7.6% this year
The Saudi-Jordanian Fund is a leap in promoting joint investments
Trade exchange jumps 62% to $9.1 billion in 2021
Revenue from expatriate fees amounted to 6.86 billion riyals
Alamar to raise about 1.2 billion riyals by offering some shares on Tadawul
The program aims to establish logistics start-ups
"The Kingdom's leadership has promoted Saudi women to many positions"
101 deals to create 5,800 new jobs in the domestic economy
Domestic workers might be excluded form the visa-free travel scheme
Blame the increase in food, beverage, and transportation prices by 4.2%
The partnership will help Qoot manage digital orders more efficiently
Airline must pay minimum of SAR1,820 and no more than SAR6,000 in such cases
Saudi’s crude oil production capacity to reach 13.3-13.4 million BPD
Alkhorayef Water awarded four contracts worth $493 mn contracts in Saudi
Hevolution seeks to extend the health span
Increasing share of women in work in MENA could increase the GDP to $2 tn
The games and esports company will hold 8% of the shares
Big names. Big money. And a worldwide tour that spans the globe.
The event discusses the pandemic's impact on the tourism industry
Program to provide youths with exceptional tourism experience
"The government is able to control public finances and financial sustainability"
Results coming from a significant increase in oil activities
Growth attributed to several factors, including a buoyant energy market
Saudi to attract 70 million international, local visitors
Foreign investors rose to historical levels in Q1, with 9,383 new licenses
Total shareholders’ equity raises to SAR 3.2 billion
MoU to promote healthcare sector, raise Saudization
The kingdom could make $400 billion from oil industry this year
The initiative aims to mitigate the economic fallout of the pandemic
Government’s programs to boost home ownership have turbo-charged demand
Skyscrapers are valued at $500 billion
2 Saudi ports rise up in rank
106 deals worth in excess of $558 million, highest in the region
Women will improve the economic prosperity of Saudi
The new investment is valued at $238.3 million
The Saudi wave will push all the ships in the region with it
"We are at a final stages of designing our fiscal sustainability policy"
Saudi Energy Minister: World must appreciate value of the alliance
The list includes Lebanon and Turkey
Bin Talal's share in the company's capital declines to 78.13%
Saudi expects AVs to be available to everyone by 2050
Expenditure on cars in Saudi reached SAR 40bn in 2020
Trend Micro blocked 107 million threats in Saudi
Profits climbed to SAR151.9 compared to SAR139mn in 2021
Vision 2030 media coverage grew by 74% since 2020
Lucid to produce 150, 000 cars per year in Saudi by 2027
Kingdom's oil production reached 10.35 million bpd in April
The deal makes the fund 5th largest investor in the video game company
Electromin rolls out 100 charging stations for EVs across Saudi
Solutions by stc contracted to implement the strategy
KAUST attracts 5 global deep tech startups to Saudi
79K transactions completed since March 2020
Saudi will soon witness accelerating adoption of crypto
Prince Abdulaziz: Oil output depends on what we do in the divided zone
It seeks to boost annual coffee beans production from 300 to 2,500 tons
Budget supported by high oil prices
Al-Rajhi Financial expected Aramco to achieve profits of 136.6 billion riyals
Net profit jumped 33% to 6.47 billion riyals
It partnered with AMEX Saudi to launch new miles redemption program
Several factors to boost Aramco's share prices in coming months
The agreements aim to strengthen the industry by investing in new innovations
Deals valued at 6.6 billion Saudi riyals
The company’s market value has risen to $2.464 trillion
Net income increased by 15.5 percent to 48.8 billion Saudi riyals
The airline launches a rebranded business division; SAUDIA Business
Higher interest rates in 2022-2023 would further support it
GACA launches national strategy to connect 250 destinations globally
Mawani launches 12 private-sector investment opportunities
Saudi attracts investments worth $32 billion through 9 new projects
Rising commodity prices and global inflation fears pressure sales
Future Aviation Forum to offer $100 billion worth of investment opportunities
Saudi registers a domestic product of $833.5 billion
Gulf countries expected to grow their economies, IMF says
The Future Aviation Summit will feature 120 speakers, 2,000 attendees
FHS will gather government leaders to discuss ‘Reimagined Horizons’
The Kingdom announces a growth of 9.6% during Q1
The fund's total assets at end-2020 were 47.1% of national GDP
Saudi is experiencing a boom in trademarks and patent requests
Saudi “Al-Rajhi” and “Al-Ahly” achieve net profits exceeding $1 billion
“The company will maintain flexibility and continue to generate strong profits”
Saudi is in a prime position to produce green and blue hydrogen
Number of factories in Saudi exceeded 10,000 factories
The value of exports amounted to 108.4 billion riyals
Housing and social services projects are government priorities
Law ensures equal treatment for both Saudi, foreign investments
21 total listings in 2021, with volume offerings amounting to SAR31 billion
The first international fund dedicated to back the tourism sector
The majority of Saudi agree that multi-cloud is ideal
The new program to support SMEs through providing trade finance facilities
The company completed the purchase of Scientific Design
Startups are the most agile and therefore best positioned for quick shifts
SAMA reserves to rebound above $500 billion in 2022-2023
GAC approves 88 percent of applications in Q1
IPI grew by 22.3 percent in February
Residential lease deals amounted to more than 139 thousand contracts
For every increase of 100 basis points, Banks' net income to increase by 13%
The joint venture will address needs of growing aviation sector in Saudi
Contracts industry rose to 78 percent in 2021
S&P Global Saudi PMI rose to 56.8 in March
$40 million to invest in Saudi technology startups
The deal is worth $158 million
Since 2017, Saudi added 37,000 telecommunication towers
Contract is valued at $900 million
In line with Vision 2030, we are currently witnessing a massive transformation within the Kingdom
OPEC said the increase in prices was driven by geopolitical tensions
Agreements aim to promote entrepreneurship in various fields
Agreements reflect Dussur’s appetite to invest in Saudi industrial sector
SAMA reaffirmed commitment to support finance and payments sectors
Spending valued at 93 billion riyals by 2025
Several programs were signed, initiatives launched and agreements
The conference continued under the slogan "We Reinvent, We Renew"
Saudi Ministry of Investment grants 4 licenses to start-ups, one VC fund
The region's net consumer confidence increasing 0.7 percent
The sector is expected to grow by about 20% in 2022
Fund will invest in companies developing new tech or improving existing ones
The Partners will supply, purchase, and trade carbon credits
It announced cash dividends of 70.3 billion riyals
SEC completed the implementation of sector regulatory and financial reforms
This is attributed to the 4.3% increase in transportation prices
An integrated financial institution towards achieving "Vision 2030"
Bloomberg: The largest IPO in Saudi Arabia since Aramco
22 localization and capacity building agreements were announced
Long-term bonds part of credit facility
Net profit amounted to 587.7 million riyals ($156.64 million) at the end of 2021
City located in the Irqah neighborhood, in a 3.4 km2 area
The project provides more than 10,000 job opportunities
Anticipation of an economic contribution reaching $186.6 million
Non-oil sector constituted 88% of the total increase in actual revenues
A mega IPO-filled 2021 is encouraging large companies to sell shares
Aramco announces in March its top financial results for 2021
SMEs among the most important drivers of economic growth
Sustainability in the Aramco hierarchy of priorities
STC net profit increased by 316 million riyals from the previous year
It’s the second such increase since 2019
The airline has a global network of over 120 cities
BNPL is framed as an interest-free alternative to credit card payments
The number of Saudis in the labor market reached over 1.9 million
The Saudi mining sector in 2021 reached 83 billion riyals ($22.41 billion)
Saudi expects an inflation rate of 1.3% in 2022, and 2% in 2023 and 2024
PIF’s ranking rose to sixth in the world, having compiled assets worth $580 billion
Saudi is one of the world’s fastest-growing countries in manufacturing
Transfer part of Saudi's long-term strategy to restructure its economy
Prosperity7 was designed for the development of next-generation technologies
The AAA gaming studio will form an integral part of the NEOM Media Hub
The fund's assets increased to $412 billion in 2020 from $152 billion in 2015
Global, regional, local audiences witnessed Saudi’s digital transformation
Saudi raised its natural gas production by 30% over the last 10 years
Riyadh Metro was a headline grabber before its upcoming launch
Agency predicts rate hikes from central banks in union
Technology ensures invulnerable data security
The project will add SAR47 bln to the Kingdom's economy by 2030
CMA approves listing of over 70M shares from several companies
Kingdom effects legislative renaissance supporting economy, global positioning
Western double standards risk reducing production levels
Botox and fillers used to enhance camels' looks in a bid to win $66.6 mln
Cooperation strengthens maritime transport, trade ties
Saudi's SISCO strengthens its logistics plans via new acquisition
Saudi Arabia
Though activity slowed due to higher production costs