Economics

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

Oil prices retreat as geopolitical concerns ease, demand concerns rise

Brent crude futures dropped 0.7 percent, or 53 cents, to $77.13 per barrel

Global economic zones converge in Dubai in September for 10th World FZO World Congress

The event will highlight how these zones contribute to national economies by promoting trade, commerce, and the digital economy

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

Abu Dhabi’s Masdar, Infinity Power to build 200-megawatt wind farm in Egypt

The MoU secures a long-term supply of renewable energy from a large onshore wind project in Ras Ghareb, Egypt

Dubai Chambers, China Construction Bank partner to boost trade and investment cooperation

This deal will foster knowledge sharing and expertise exchange, strengthening support for businesses and investors

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

Oil prices sink as China’s economic slowdown fuels demand concerns

Brent crude futures declined by 13 cents, or 0.2 percent, to $79.55 per barrel

Harnessing public-private partnerships to transform local economies  

PPPs attract investments, create jobs and develop new capabilities