Saudi Arabia

The Middle East: Rise of a tourism powerhouse

Middle Eastern destinations, including Dubai, Abu Dhabi, and emerging hotspots like Riyadh and Ras Al Khaimah, saw significant tourist inflows in 2023

Abu Dhabi’s Masdar, Bapco Energies partner for wind projects in Bahrain

The joint venture aims to develop wind projects in Bahrain with a capacity of up to 2 gigawatts

Saudi Arabia set to increase assets under management to 29.4 percent of GDP by 2024

The Kingdom surpassed 2023 targets with 216 fintech companies in operation and the launch of two digital banks

Saudi Arabia’s real GDP grows 1.3 percent in Q1 of 2024

In Q1, Saudi Arabia's non-oil activities saw a 2.8 percent annual increase

Saudi Arabia, Mauritania to cooperate in electricity, renewable energy, and clean hydrogen

The deal aims to enhance electricity system reliability through knowledge exchange and partnership

Saudi Arabia’s ACWA Power seeks to invest $10 billion in Malaysia’s renewable energy sector

Collaboration to power up green data centers in Malaysia's industrial parks

WEF Special Meeting: Tourism plays key role in boosting growth, says economy minister Al Marri

Tourism sector is expected to contribute $15.5 trillion to the global GDP by 2030

Saudi Arabia to host 28th World Investment Conference from November 25 to 27

Conference positions Saudi Arabia as global investment hub, promotes its promising business environment

WEF Special Meeting: UAE has doubled renewables capacity, says minister Al Mazrouei

UAE has allocated AED200 billion to clean energy projects locally until 2030

WEF Special Meeting: Developing human capital must be the focus for investment

Collaborative effort is needed to address the energy trilemma of security, equity and sustainability

GCC states have succeeded in making economies more integrated: Saudi Arabia’s Al-Jubeir at WEF meeting

Al-Jubeir noted the increase in new startups that Saudi youth have founded, and their contributions to the job market

NEOM secures $2.67 billion revolving credit facility for development projects

Financing boosts ongoing development endeavors and short-term financing requirements

Oman forges industrial economic alliances with Saudi Arabia, Japan, and U.S.

The agreements aim to promote private sector involvement in the country's economic growth

Saudi Arabia’s ICT spending to reach $37.5 billion in 2024

According to experts, the Kingdom is the region's fastest-growing IT market

Saudi Arabia’s non-oil exports surge by 4.4 percent to $5.82 billion in February

Rubber and plastic product exports in February fueled the rise in non-oil shipments

IMF establishes new regional office in Saudi Arabia, hosts joint conference on industrial policy for diversification

The IMF aims to boost its involvement with regional institutions, governments, and stakeholders by setting up this office

Saudi Arabia’s cinema revenue soars to over $986 million in just six years

Currently, Saudi Arabia has 66 movie theaters with approximately 618 screens and 63,373 seats

Saudi Aramco to acquire 10 percent stake in China’s Hengli Petrochemical

Deal aligns with Aramco’s strategy to expand its presence in key high-value markets like China

World Bank partners with Saudi Arabia to establish knowledge center for economic reforms

Boosting global economic reforms and enhancing regional and global competitiveness

Private sector employment in Saudi Arabia sees record growth in Q4 2023, surpassing 11.2 million employees

The unemployment rate among Saudis reached its lowest level of 7.7 percent in the last quarter of 2023

Sukuk issuance continues steady growth, reaching towards $1 trillion in the GCC: Report

Saudi Arabia, UAE and Malaysia will likely stay among the most active sukuk issuers, the report says

UAE’s ADNIC acquires majority stake in Allianz Saudi Fransi, expands footprint in Gulf region

The acquisition will make ADNIC one of the Tier-1 listed insurers in Saudi Arabia

Saudi Arabia’s crude oil production reaches seven-month high in February

This represented a rise of 55,000 bpd or 0.61 percent compared to the previous month