Economy Middle East

Saudi Arabia

Saudi fostering AI excellence by launching International Center for Research and Ethics
Saudi Arabia

Saudi fostering AI excellence by launching International Center for Research and Ethics

Center aims to enhance competencies, develop legislative frameworks in the AI field

Saudi telecommunications companies record profits of $1.5 billion
Saudi Arabia

Saudi telecommunications companies record profits of $1.5 billion

Driven by increase in subscriptions and digital bank initiatives

Saudi raises mining sector’s GDP contribution target to $80 bn
Industry

Saudi raises mining sector’s GDP contribution target to $80 bn

Kingdom to host the Future Minerals Forum in January, 2024

Saudi-African summit kicks off today with multi-million dollar development projects for Africa
Economy

Saudi-African summit kicks off today with multi-million dollar development projects for Africa

$20 bn trade turnover recorded in 2023

Saudi boosts bid to become region’s corporate hub
Economy

Saudi boosts bid to become region’s corporate hub

More than 180 companies granted licenses to operate in the kingdom

Saudi foreign direct investment flows have doubled since 2015
Economy

Saudi foreign direct investment flows have doubled since 2015

Kingdom’s FDI balance reaches $207 billion

Oil prices slide to 3-month low amid weakening demand from U.S. and China
Markets

Oil prices slide to 3-month low amid weakening demand from U.S. and China

Market focus shifted to supply-demand balance as Middle East concerns ease

GCC seals 128 mergers and acquisitions so far this year
Banking & Finance

GCC seals 128 mergers and acquisitions so far this year

UAE and Saudi emerge as key players

Saudi launches ‘Visiting Investor’ visa to attract investments
Economy

Saudi launches ‘Visiting Investor’ visa to attract investments

The kingdom expands its e-visa program under Saudi Vision 2030

Saudi non-oil sector records highest employment rate since 2014
Economy

Saudi non-oil sector records highest employment rate since 2014

Strong demand for production led to increase in employee numbers

Saudi Fund’s contribution to Oman’s economy exceeds SAR11 bn over 46 years
Banking & Finance

Saudi Fund’s contribution to Oman’s economy exceeds SAR11 bn over 46 years

Funding implemented across key sectors including water, energy and infrastructure

Saudi rises to second spot in G20, 4th globally for digital readiness
Saudi Arabia

Saudi rises to second spot in G20, 4th globally for digital readiness

Driven by regulatory reforms, strong digital foundations