Skip to main content Skip to footer ![Saudi Arabia’s debt market doubles in value to $213.12 billion since 2019](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Saudi-debt-market.jpg/w=1024,h=683)
The debt market remains under 20 percent of the Saudi economy, offering significant room for further development
![OPEC+ members extend voluntary output cuts for two more months as oil prices slump](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/OPEC-cuts.jpg/w=1024,h=684)
Overall, OPEC+ is cutting output by 5.86 million barrels per day, about 5.7 percent of global demand
![Saudi Arabia cancels hotel licensing fees to boost tourism investment](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Saudi-hotels-licensing-fees.jpg/w=1024,h=680)
This change, effective September 4, aims to position the Kingdom as a global tourism leader
![GCC markets’ net foreign inflows cross $50 billion for first time in August: Report](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/GCC-markets-foreign-inflows.jpg/w=1024,h=683)
In August, GCC equity markets saw strong net foreign inflows of $892 million
![Sharjah’s SEWA inks water project deal with Saudi Arabia’s ACWA Power](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/ACWA-Power-SEWA.jpg/w=1024,h=683)
Project to meet the demand for potable water for 1.4 million people
![Saudi Arabia and Türkiye central banks sign MoU to enhance economic cooperation, financial stability](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/SAMA-TCMB-1.jpeg/w=1024,h=683)
The central banks will share expertise and resources to address challenges and boost economic development
![Italy’s Saipem secures $1 billion in two major offshore contracts with Saudi Aramco](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Aramco-Saipem.jpg/w=1024,h=683)
Saipem will be responsible for the EPCI three production deck modules, 33 km of subsea pipelines, and 34 km of power cables
![flynas launches inaugural flight at Zayed International Airport, linking Saudi Arabia and UAE with affordable travel](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Zayed-flynas.jpg/w=1024,h=683)
This new route will benefit business and leisure travelers, boosting tourism and trade between the two countries
![Qatar cultural events in September: New attractions, events, performances and concerts](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Qatar-September-events.jpg/w=1024,h=683)
Qatar recorded 2.6 million visitors, with a notable 43 percent coming from GCC countries during the first six months of 2024
![STC Bank becomes founding partner of Saudi Arabia’s 24 Fintech event](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/24-Fintech.jpg/w=1024,h=683)
During its participation at 24 Fintech, STC Bank will showcase its offerings and services
![Saudi Arabia-GCC non-oil trade balance exceeds $1.8 billion in Q2 2024](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Saudi-non-oil-trade-3.jpg/w=1024,h=683)
The UAE led with exports valued at SAR15.070 billion, approximately 61.8 percent of total Saudi non-oil commodity trade among GCC countries
![Sharjah Airport welcomes first flights of Saudi Arabia’s flynas, boosting international connectivity in the UAE](https://economymiddleeast.com/cdn-cgi/imagedelivery/Xfg_b7GtigYi5mxeAzkt9w/economymiddleeast.com/2024/09/Sharjah-Airport-flights.jpg/w=1024,h=682)
flynas will operate seven weekly flights from Jeddah and two from Madinah to Sharjah Airport, using Boeing 737s