Saudi Arabia

Saudi Aramco emerges as world’s largest oil company with 259 billion barrels of reserves

The Saudi oil giant produced an average of 12.8 million barrels of oil per day in 2023

Saudi real estate sector contributes 5.9 percent to GDP, hits $169.5 billion in transactions

The sector recorded more than 280,000 transactions since the beginning of 2024

Saudi Arabia issues $1.17 billion in sovereign sukuk across three tranches in June

The total volume of sukuk and bonds in Saudi Arabia increased by 5.73 percent during the third quarter of 2023

Saudi’s Arabian Mills plans to list 30 percent stake in IPO

The CMA has approved Arabian Mills' public listing application, and the company will publish the IPO prospectus soon

Saudi Arabia’s 1,200-station renewable energy mapping project aims to accelerate clean power goals

The stations seek to measure solar and wind energy across all regions of the Kingdom

Saudi Arabia’s flynas named 4th best low-cost airline in the world, 1st in the Middle East

flynas connects more than 70 domestic and international destinations with more than 1,500 weekly flights

Qiddiya City’s new Performing Arts Center to receive over 800,000 visits annually

Center will host over 260 indoor and outdoor performances and events every year with over 3,000 seats across three theatres

Saudi Arabia boosts maritime sustainability with new multimillion-dollar waste recycling plant in Jeddah

The project, valued at $8 million, will cover an area of 10,000 square meters

Saudi Arabia’s non-oil exports rise 12.4 percent, imports down 1.3 percent in April: Report

Exports to China reached 16.6 percent of total exports, making it the top destination for Saudi Arabia's exports

Saudi Arabia’s M&A deal volume surges to $955 million in Q1 2024

The chemicals sector accounted for 52.4 percent of the total

Saudi Arabia’s GDP growth of 1.4 percent higher than G20 average in Q1 2024: Report

Türkiye recorded the highest growth at 2.4 percent in Q1 of 2024 followed by India at 1.9 percent

Saudi Aramco, NextDecade sign 20-year LNG supply deal

Aramco to purchase 1.2 MTPA of LNG from NextDecade's Rio Grande Terminal under proposed agreement

Saudi hospitality revenue to rise 7.5 percent in next 4 years, fueled by tourism and Vision 2030

The GCC hospitality sector's revenue is expected to reach $48.1 billion by 2028

Saudi Arabia to prohibit working under the sun from 12pm to 3 pm starting June 15

The ban applies to private sector establishments and aims to protect workers from heat risks during the hottest hours

Saudi finance companies sector reports 13 percent growth in total assets, reaching $17.1 billion in 2023

The paid-up share capital for the finance companies sector increased by 6 percent to reach $4.13 billion

Saudi Arabia’s construction activity buzzing with $1.5 trillion pipeline: Report

Saudi Arabia accounts for 39 percent of the total MENA pipeline value of $3.9 trillion

center3 completes acquisition of CMC Networks

Acquisition aligns with center3’s strategic vision for growth and expansion in the Middle East and African markets

Residential Q1 sales transactions up by 77 percent year-over-year in Riyadh

Prime office rents in Riyadh rose 14.5 percent, while Grade A and B rents increased 11.8 percent and 10.3 percent

Saudi banks see 11 percent increase in loans in April, surpassing $715 billion driven by corporate activities

Personal loans constituted 47 percent of banks' total lending, while corporate loans made up the remaining 53 percent

Lucid and EVIQ collaborate to establish high-speed EV charging infrastructure in Saudi Arabia

The move will facilitate easier access to charging solutions and support the wider adoption of EVs

Saudi banks witness 8 percent surge in Q1 earnings, reaching $4.97 billion

The growth in earnings is driven by 11 percent lending growth and a rising interest rate environment

Saudi Arabia emerges as key investor in Elon Musk’s $24 billion startup xAI

The startup recently announced its $6 billion Series B funding round which it will utilize to launch xAI’s first products in the market

Saudi Arabia sees $240 million in investments in Q1 2024: Report

E-commerce and retail sector retained its position as the leading industry in Saudi Arabia's venture landscape