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Saudi Arabia
Banking & Finance
Saudi Arabia approves FY2025 budget, forecasts $315.2 billion in revenues
The approved state general expenditures amount to SAR1.285 trillion ($342.07 billion)
Logistics
Saudi Arabia sets world record for largest food cluster with $5.3 billion investment to create 43,000 jobs by 2035
Over the next ten years, the Jeddah Food Cluster is expected to contribute SAR8 billion to national exports and add SAR7 billion to the nation's GDP
Logistics
Saudi Arabia tops Arab region in quality infrastructure rankings, climbs 25 spots globally
The Kingdom ranked 20th globally in the Quality Infrastructure for Sustainable Development Index (QI4SD) 2024
Hospitality & Tourism
Riyadh Season draws 8 million visitors so far, setting new record
This growth stems from the diverse events and entertainment options that have sparked significant interest
Economy
Saudi Arabia’s entertainment sector to create 450,000 jobs by 2030: Report
The sector reported several record highs in the last five years, including attracting over SAR1 billion in total revenues and over 75 million event attendees
MENA
Riyadh’s 98 percent occupancy in premium offices highlights strong demand from global companies: Report
This influx has driven rental prices up by 19 percent year-on-year
Banking & Finance
Abu Dhabi’s Lulu Retail Q3 net profit at $35.1 million on strong sales across markets
Revenue for the quarter rose 6 percent YoY to $1.86 billion
Hospitality & Tourism
How is the GCC region driving tourism growth? Mega-projects, coastal developments and unified visa in focus
In 2024, the projected revenue for the GCC region's travel market is estimated to be $8.08 billion
Banking & Finance
Global spending on AI reaches over $120 billion in 2023: SDAIA
SDAIA Director of National Information Center noted that over 72 percent of organizations use AI for operational excellence
Egypt
flynas to launch three direct flights between Madinah and Cairo’s Sphinx airport
flynas connects Egypt to Saudi Arabia with more than 120 weekly direct flights from five Saudi cities
Energy
Abu Dhabi’s TAQA, JERA and Al Bawani to develop two new highly efficient power plants in Saudi Arabia
These agreements will enable two new CCGT projects in Saudi Arabia with over 3.6 gigawatts capacity
Energy
Saudi Arabia’s crude oil exports hit three-month high in September
Saudi Arabia's oil production fell to 8.975 million bpd from 8.992 million bpd in August
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