Saudi Arabia

Saudi Arabia sees 20 percent surge in passengers in 2024 at 111 million

Number of flights increased to over 37 million last year, according to GACA President

UAE leads MENA region, ranks among top 20 on WEF travel and tourism index

According to the report, the UAE has raised its score by 4.4 percent in the 2024 index

Future Aviation Forum 2024 seals 47 agreements worth $19 billion

The Saudi aviation sector contributed $53 billion to the country's economy and supported around 958,000 jobs nationwide

Saudi Arabia’s crude oil exports hit 9-month high, reaching 6.413 million bpd in March

Data also showed that Saudi refineries' crude throughput fell in March by 0.115 million bpd to 2.560 million bpd

Aviation sector contributes $53 billion to Saudi GDP: Report

The sector supports 241,000 jobs, with a further estimated 717,000 jobs in the tourism sector

Saudi Arabia’s holdings in U.S. treasuries surge to $135.9 billion

This represents a 3.66 percent rise compared to the previous month

Saudi Arabia’s Ministry of Industry issues 12 new mining licenses in March 2024

The licenses cover 10 building materials quarry licences, one mineral ores surplus licence, and one reconnaissance licence

Egypt’s exports to Arab nations up 8.7 percent in 2023, reaching $13.6 billion

Saudi Arabia topped the list of Arab countries importing the most from Egypt during the year

Saudi Arabia maintains steady inflation rate of 1.6 percent in April 2024

Inflation in April was driven by a 10.4 percent increase in rental prices, largely due to a 9.4 percent jump in villa rents

Saudi Entertainment Ventures joins Qiddiya to enhance entertainment ecosystem

SEVEN spearheads 21 entertainment projects across 14 cities, with investments exceeding $13.33 billion

Saudi Arabia’s Diriyah seeks U.K. partnerships in business, development projects

Diriyah reiterates commitment to expanding its partnership portfolio across various sectors

Dubai’s Spinneys revenues surge to $221.89 million, transactions rise by 9.5 percent in Q1 2024

The company's gross profit margin also demonstrated strength, reaching 41.2 percent in the quarter

Majority of Middle East IPOs experience positive aftermarket gains in 2024: Report

Notable market gains included MBC Group Co and Avalon Pharma

Unemployment rate in Saudi Arabia’s labor market at 8.6 percent, women’s participation reaches 34.2 percent

Over 1,000 government employees received training at international agencies, enhancing their work effectiveness

China’s Ant International seeks expansion in Saudi Arabia

Agreement to facilitate cross-border mobile payment and trade, empower Saudi businesses

Saudi Arabia to launch $2 billion general aviation roadmap at Future Aviation Forum

The roadmap aims to increase the sector's contribution to GDP to $2 billion by 2030

Key trends impacting the development of airports in the Middle East

Air travel growth in Saudi Arabia is anticipated to remain significant

Saudi Arabia plans $100 billion investment to develop aviation sector

Over $50 billion will go to developing the country's airports

10 MENA IPOs raise $1.2 billion in Q1 2024: Report

UAE's Parkin raised the highest proceeds, contributing 37.2 percent to total proceeds of MENA IPOs

Saudi Arabia’s liquidity rises 8.3 percent to $753 billion in March

Surge in demand deposits fuels Saudi Arabia's money supply growth

Saudi Arabia e-visa accessibility extended to Barbados, Bahamas, and Grenada

With this expansion, the total number of countries eligible for the E-visa has increased to 66