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Saudi Arabia
Hospitality & Tourism
27 million tourists visited Saudi Arabia, spent $26.66 billion in 2023
Kingdom aims to attract 150 million domestic and 70 million international tourists
Economy
Saudi Arabia’s PIF attracted over $25 billion worth of investments in three years
New Contractor Financing Program launched
Industry
Saudi Arabia launches National Automotive and Vehicles Academy, establishes Automotive Manufacturers Association
Training program to produce qualified staff for local car manufacturing companies
Industry
Saudi Arabia’s tech firm ‘Alat’ names Amit Midha as global CEO
Collaboration with leading corporations to innovate and revolutionize industries
Banking & Finance
EFG Hermes concludes advisory on Kazyon’s acquisition of 50 percent stake Dukan in Saudi Arabia
Following collaboration in Kazyon's $76.5 million capital raise/private placement in 2014
Economy
Saudi Arabia achieves $16 billion budget surplus in Q4 2023
Due to 40.7 percent YoY decline in government expenditures
Economy
Saudi Arabia maintains A++ rating with stable outlook: Fitch
Classification reflects Kingdom's robust external financial strength
Economy
Saudi Arabia’s PIF launches today second private sector forum, unveiling new local business opportunities
Event aims to cultivate partnerships between PIF, its portfolio companies, and the private sector
Markets
MENA IPO market soars with 48 IPOs in 2023, reaping $10.7 billion
Energy and logistics sectors lead as MENA continues to attract global investments
Economy
Saudi Arabia’s non-oil sector grows, PMI records 55.4 in January
Economic expansion continues amid inflationary pressures and supply chain risks
Saudi Arabia
stc users exceed 16 million following Riyadh Season launch
stc's continued investments are reflected in the volume of 5G network use
Industry
Alat: Saudi Arabia’s Crown Prince launches new company with projected $9.3 billion GDP impact by 2030
New company to help turn Kingdom into electronics, advanced industries hub
Banking & Finance
GCC banks to prove resilient in 2024 amid geo-economic challenges: S&P Global
Robust capitalization and profitability to uphold GCC banks, despite emerging risks
Markets
Aramco: Saudi Arabia considering a $10 billion share sale
As soon as February
Saudi Arabia
Saudi Arabia to host historic COP16 in Riyadh
Strengthening international efforts to reduce land degradation and desertification
Economy
Saudi Arabia’s non-oil sector grew 4.6 percent in 2023
Report highlights economic diversification efforts and the impact of OPEC+ decisions on GDP
Economy
IMF revises Saudi Arabia’s economic growth forecast: 2.7 percent in 2024, 5.5 percent in 2025
Kingdom's economy achieved a growth rate of 8.7 percent in 2022
Real Estate
Off-plan residential offerings can help bridge the gap of 1.5 million housing units in Saudi Arabia: PwC
Building greater buyer trust, educating developers key to scale up demand
Markets
Oil prices fall as China’s economic activity weighs on sentiment
But set for monthly gain since September
Markets
Saudi Arabia’s sukuk, bond issuances reach $202 bn in Q4 2023
Kingdom attracts Saudi investors, advances capital market, and maintains fiscal stability
Saudi Arabia
Riyadh to host Global Smart City Forum: Shaping the future of urban development
From February 12-13
Energy
Saudi Arabia’s Aramco to stick with 12 million barrels per day production capacity
Upon receiving a directive from the ministry of energy
Saudi Arabia
Red Sea Global pioneers sustainable transportation with low-carbon SAF policy
Company's entire fleet of onshore vehicles now run on electricity or SAF
Saudi Arabia
Saudi Arabia bids to host World Water Forum in 2027
Underscoring Kingdom’s interest in sustaining water resources, improving the quality of life
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