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Economy Middle East Summit 2025
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Economy Middle East Summit 2025
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Saudi Arabia
Saudi Arabia
stc Group net profit rises 7.73 percent to $1.76 billion in H1 2024, revenues up 4.79 percent
The group attributes this growth in revenues to the increase in stc KSA’s revenues by 0.6 percent
Saudi Arabia
Saudi Aramco’s Wa’ed Ventures invests $15 million in South Korean AI chipmaker Rebellions
Funding to accelerate company's expansion in Saudi Arabia and the development of AI chips globally
Hospitality & Tourism
New luxury resort slated to debut in Saudi giga-project NEOM
The resort will include a long, bridge-like structure that spans 450 meters and is suspended 40 meters above a lagoon
Economy
IMF maintains global GDP growth forecast at 3.2 percent for 2024
For the Middle East and Central Asia, oil production and regional conflicts continue to weigh on prospects
Logistics
flynas receives 53rd aircraft from its order of 120 Airbus A320neo planes
Fleet expansion falls in line with Saudi Arabia's National Civil Aviation Strategy
Economy
Saudi Arabia’s annual inflation rate rises to 1.5 percent in June 2024: GASTAT
Food and beverage prices increased by 1.1 percent, driven by a 6.5 percent rise in vegetable prices
Markets
Top 5 GCC IPOs by proceeds during H1 of 2024
GCC region raised total proceeds of $3.6 billion from 23 IPOs during the first six months of 2024
Markets
GCC companies raise $3.6 billion from 23 IPOs in H1 of 2024: Report
The Kingdom raised $2.1 billion from 19 offerings, making up 59 percent of total GCC IPO proceeds
Banking & Finance
Saudi central bank launches new digital platform for streamlining government financial transactions
This initiative is part of SAMA's strategy to provide banking services to government agencies and support digital development
Banking & Finance
Why Buy Now, Pay Later (BNPL) services are booming in UAE and Saudi Arabia
BNPL services are outpacing credit cards in the region
Saudi Arabia
Saudi Arabia launches Carbon Capture and Utilization Challenge with UpLink
This challenge aims to seek innovative solutions that accelerate the circular carbon economy
Logistics
Saudi Arabia’s airports see 17 percent rise in passenger numbers to 62 million in H1 2024
Number of flights saw a 12 percent increase to 446,000 in the first half of the year
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