Saudi Arabia

Saudi Arabia’s point-of-sale operations reach $3.1 billion during first week of Ramadan

Saudi Arabia’s point-of-sale operations reach $3.1 billion during first week of Ramadan

Riyadh records highest spending at a value of SAR3.8 billion

Saudi Arabia’s Jeddah Islamic Port to establish $46.6 million integrated logistics zone

Saudi Arabia’s Jeddah Islamic Port to establish $46.6 million integrated logistics zone

The new zone will boost port efficiency, improve commercial flow, and strengthen supply chains

Saudi Arabia closes March issuance of sukuk program at $1.17 billion

Saudi Arabia closes March issuance of sukuk program at $1.17 billion

To cater to investors with different investment horizons, the issuance has been divided into three tranches

Saudi Cabinet greenlights agreement for setting up IMF regional office in Riyadh

Saudi Cabinet greenlights agreement for setting up IMF regional office in Riyadh

The initiative seeks to enhance the presence and collaborative efforts of the IMF with Arab institutions

Oil demand will reach a record 104 million barrels per day in 2024: Aramco CEO

Oil demand will reach a record 104 million barrels per day in 2024: Aramco CEO

Nasser emphasizes the effectiveness of carbon capture in mitigating greenhouse gasses

EFG Hermes concludes advisory on Cenomi retail’s sale of a portfolio of fashion brands to Abdullah Al-Othaim Fashion

Banking & Finance

EFG Hermes concludes advisory on Cenomi retail’s sale of a portfolio of fashion brands to Abdullah Al-Othaim Fashion

In December 2023, Cenomi Retail acquired 100 percent of the share capital of Innovative Outfit Trading Company

Saudi Arabia’s crude exports dip 0.2 percent in January

Saudi Arabia’s crude exports dip 0.2 percent in January

OPEC+ extends output cuts amid market dynamics and global demand predictions

Saudi Arabia’s mineral wealth estimated at $2.4 trillion

Saudi Arabia’s mineral wealth estimated at $2.4 trillion

Exploitation licenses in the Kingdoms mining sector soared by 138 percent

Saudi Arabia’s banks experience boost in profits with 3.1 percent increase in net interest margin

Banking & Finance

Saudi Arabia’s banks experience boost in profits with 3.1 percent increase in net interest margin

The operating income grew by 9.5 percent

Saudi Arabia’s tourism sector attracts $13 billion in investments, eyes $85 billion in revenue

Hospitality & Tourism

Saudi Arabia’s tourism sector attracts $13 billion in investments, eyes $85 billion in revenue

Kingdom positions itself as a premier travel destination with ambitious growth plans

Economic and social reforms bolster Saudi Arabia’s stable credit ratings: Report

Economic and social reforms bolster Saudi Arabia’s stable credit ratings: Report

The non-oil sector investment is key to sustaining 3.3 percent annual GDP growth over 2024-2027, the report says

Saudi Arabia’s non-oil economy reaches 50 percent of real GDP

Saudi Arabia’s non-oil economy reaches 50 percent of real GDP

Private investment and robust exports drive record-breaking expansion

Investments in 11,670 Saudi factories reach $410 trillion by January

Investments in 11,670 Saudi factories reach $410 trillion by January

A total of 152 new industrial licenses were issued in January

Housing costs propel Saudi Arabia’s inflation to 1.8 percent in February

Housing costs propel Saudi Arabia’s inflation to 1.8 percent in February

Subcategory prices for housing, water, electricity, gas, and fuels rose 8.5 percent YoY

Booming hospitality, transport, and arts sectors fuel Saudi Arabia’s business growth in 2023

Booming hospitality, transport, and arts sectors fuel Saudi Arabia’s business growth in 2023

The ministry of commerce reported an increase in commercial registrations across various sectors

Saudi Arabia’s Diriyah reveals plans for 20,000-seat arena

Hospitality & Tourism

Saudi Arabia’s Diriyah reveals plans for 20,000-seat arena

The Arena will be a premier venue for sports, entertainment and cultural events

Saudi Arabia’s PIF inches closer to $1 trillion in assets

Saudi Arabia’s PIF inches closer to $1 trillion in assets

Strategic acquisitions and diversification drive growth trajectory

Construction begins on Al-Urubah Park, Riyadh’s largest green space project

Construction begins on Al-Urubah Park, Riyadh’s largest green space project

More than 600,000 trees and shrubs will be planted, covering 65 percent of the park area

Saudi Arabia’s non-oil activity increases by 4.4 percent in 2023

Saudi Arabia’s non-oil activity increases by 4.4 percent in 2023

Despite decline in oil production, diverse industries foster growth in the kingdom

Saudi ministries boost job opportunities with 35 percent localization in dental professions

Saudi ministries boost job opportunities with 35 percent localization in dental professions

The new resolution will apply to private sector establishments that employ three or more workers in dental professions

Saudi Arabia issues national policy and framework to enhance cybersecurity

Saudi Arabia issues national policy and framework to enhance cybersecurity

Initiatives to enhance cybersecurity capabilities and protect vital interests

Saudi Arabia, China Eastern Airlines forge strategic partnership for new air route

Saudi Arabia, China Eastern Airlines forge strategic partnership for new air route

China Eastern Airlines will operate the route using an A330-200 aircraft, providing an annual capacity of 35,880 inbound seats

Saudi Arabia’s industrial production index up 0.3 percent in January on mining and quarrying

Saudi Arabia’s industrial production index up 0.3 percent in January on mining and quarrying

Manufacturing activities in the Kingdom rose by 1.1 percent in January 2024

Saudi Aramco posts second highest ever net income of $121.3 billion in 2023

Saudi Aramco posts second highest ever net income of $121.3 billion in 2023

Total dividends paid rises 30 percent year-on-year