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Saudi Arabia
Economy
Saudi’s PIF buys stakes in US giant companies
Fund invested a further $474mln in Meta
Real Estate
Saudi’s PIF, Cain invest $900 mn in hotelier Aman Group
To support its global expansion
Energy
Saudi’s Kingdom Holding unveils 3-year $3.4 bn investment program
Including 1.97 billion riyals in Russian energy companies
Banking & Finance
Saudi’s Tanmiah delivers 31% increase in annual revenues
Supported by strong product demand
Markets
Saudi Tadawul reports 24% decline in profit on higher expenses
Its market value reached about $2.8 trillion in 2021
Economy
Inflation in Saudi rises in July to highest level in 13 months
F&B prices, transportation costs were the primary causes of rising inflation
Hospitality & Tourism
flynas sees 120 percent increase in number of passengers
46% increase in aircraft fleet, 57% in number of flights comparing to 2021
Energy
Saudi C’s Q2 profits beat expectations
Announced a dividend of $18.8 billion
Saudi Arabia
MENA expected to see 45 tech start-ups with unicorn status
Combined value of fast-growing start-ups could come close to $100 bn
Energy
Saudi’s SABIC posts over $2 bn in profits in Q2
Driven by higher average selling prices
Economy
Gross Premium Written in Saudi to grow by 5-10% in 2022
Intense competition pressures Saudi’s underwriting results
Economy
Saudi closes 49 investment deals worth SAR 3.5 bn in Q2
Foreign investment licenses increased by 674 percent yoy
Energy
Saudi National Water Company to launch SAR 108 bn projects
The company intends to roll out 1,429 projects
Banking & Finance
The PIF launches the Saudi Egyptian Investment Company
Focusing on investing in several key sectors
Banking & Finance
Riyad Bank’s profits rise by 6.6 percent to SAR 1.6 bn in Q2
Driven by an increase in total operating income
Energy
Oil revenues send Saudi’s budget surplus to $21 bn
The highest quarterly surplus since data publication began in early 2016
Economy
Saudi establishes special authority to promote foreign investment
Strategy aims to support partnerships between investors
Energy
Saudi Aramco buys US-based Valvoline for $2.65 bn
Acquisition fits in with growth strategy for lubricants, says Aramco
Banking & Finance
Foreign reserves in Saudi reach highest level since 2020
It increased by 3% to 1.683 trillion riyals
Economy
Saudi economy achieves highest quarterly growth in 11 years
Oil activities lead GDP growth by 11.8% in Q2
Energy
Saudi energy minister, Russia’s Novak meet ahead of OPEC+ meeting
Will OPEC+ raise output at its next meeting?
Banking & Finance
Saudi’s Kingdom Holding invests $300 million in UK-based Phoenix
Within the strategy of investing in leading firms
Banking & Finance
Saudi National Bank’s profit almost doubles in Q2
On higher operating income, lower expenses
Energy
Saudi Crown Prince in Greece, signs submarine cable agreement
Connecting electricity grids provides cheaper green energy
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