Saudi Arabia

Saudi’s stc Group recommends 37.5 percent increase in annual dividends, totaling $2.93 billion over 3 years

The group reported 7.73 percent surge in net profit, 4.79 percent rise in revenues in H1 2024

Visa-free travel to Sri Lanka: UAE, Saudi Arabia, and 33 other countries granted access

Saudi Arabia ranked third as a potential market for Sri Lankan tourism in June 2024

Growing Saudi-China ties to facilitate renminbi-based oil trade between the two countries, says S&P

China's trade with the Middle East has more than tripled over the last 20 years, a key factor in the potential for broader use of the renminbi by Gulf states

Aluminum and iron ore drive Bahrain’s $894.31 million export surge in July 2024

China emerged as the leading import partner, contributing BHD73 million (16 percent) to Bahrain's import basket

Abu Dhabi Chamber sees 23.8 percent year-on-year growth in certificates of origin

This growth underscores the chamber's efforts to boost trade opportunities and enhance the UAE's international trade footprint

Saudi Arabia’s King Salman International Airport: Four world-class design and engineering firms to lead development

New master plan includes several terminals, six runways, and a multi-asset real estate area

Saudi Arabia’s logistics master plan to be launched at the upcoming GLF 2024 in October

Over 10,000 participants, including heads of state, ministers, and industry leaders, will convene in Riyadh

Saudi Arabia’s PIF surpasses $765 billion in AUM, delivering 8.7 percent average annual shareholder return

Since its inception, PIF has achieved an average total shareholder return of 8.7 percent per year

Riyadh Air partners with CONCACAF to connect football fans worldwide

This partnership will boost brand awareness among a large, passionate audience, setting the stage for the 2025 launch

Saudia leads world in on-time flights again

The airline achieved on-time arrival rate of 88.12 percent and on-time departure rate of 88.15 percent

Saudi central bank reports strong growth in reserve assets, reaching $467.4 billion in Q2 2024

The quarter saw a 2.7 percent quarterly increase, adding around SAR46.724 billion to the reserve

GCC’s aviation sector soars as a key economic driver 

Robust infrastructure, strategic location vital to the growth of the industry and the region’s economy

Growth of IPO market: Increasing contributions from reputed public and private sector entities 

Technology, healthcare, and real estate companies are keen to explore IPO opportunities  

UAE IPOs surge in Q2 2024, raising $890 million: Report

Sharia-compliant financial products are in high demand, with Sukuk issuances exceeding $10 billion in Q2

Resilient MENA IPO market generates $2.64 billion in Q2 2024, set for strong remainder of year: Report

Q2 global IPO activity experienced 15 percent drop in offerings and 31 percent decline in proceeds

Saudi Arabia boosts FDI landscape with new investment law updates

Saudi Arabia's FDI inflows rose by 158 percent, from $7.46 billion in 2017 to $19.3 billion in 2023

Saudi Arabia’s Dammam port sets record with 20,645 containers handled on single ship

In May 2024, the port set a new container throughput record of 292,612 TEUs

Riyadh’s residential market sees 51.6 percent rise in sales deals in Q2 2024: Report

Riyadh witnessed increasing demand for quality spaces in the office sector as more international and local occupiers moved to the city

Saudi Arabia tackles e-waste with 100,000 devices recycled, minimizing environmental footprint

This is part of the Kingdom's strategy to build a sustainable digital future optimizing resource use

Egypt to launch Saudi investment office in Cairo this month

By November 2023, Saudi Arabia's investments in Egypt reached $6.3 billion across 7,444 projects

Major revisions to Saudi Arabia’s labor law aim to foster job stability, prioritize employee rights

The new revisions encompass 38 articles, removing seven articles, and adding two new articles to the law