Saudi Arabia

Red Sea Global launches Saudi Arabia’s second water aerodrome at Shebara resort

Last year, Red Sea Global secured the first operating license for a water aerodrome in Saudi Arabia at Ummahat Island

NMDC Energy gets IPO approval, to list 1.15 billion shares

Subscription period to open on Friday, August 30, 2024, for individual investors in the UAE

Celebrating Emirati Women’s Day: Visa’s ‘She’s Next’ returns to UAE with third edition

The third edition supports women entrepreneurs in publishing, fashion, food, and more over several months

GCC listed banks post record $14.8 billion net profit in Q2 2024

Year-over-year, the growth was robust at 9.2 percent compared to Q2 2023

Saudi Arabia’s PIF signs $15 billion revolving credit facility with 23 international financial institutions

The facility has a duration of three years and is extendable for up to two additional years

Saudi Arabia’s flynas expands UAE network with 8 new routes starting September 1

Expansion makes flynas the only Saudi airline serving the major four airports in the UAE with more than 20 daily flights

Saudi’s stc Group recommends 37.5 percent increase in annual dividends, totaling $2.93 billion over 3 years

The group reported 7.73 percent surge in net profit, 4.79 percent rise in revenues in H1 2024

Visa-free travel to Sri Lanka: UAE, Saudi Arabia, and 33 other countries granted access

Saudi Arabia ranked third as a potential market for Sri Lankan tourism in June 2024

Falling interest rates drive 87 percent of GCC investors to eye U.K. in 2024: Survey

73 percent of Saudi investors have considered investing in U.K. property and 75 percent are eyeing Birmingham or Manchester

Growing Saudi-China ties to facilitate renminbi-based oil trade between the two countries, says S&P

China's trade with the Middle East has more than tripled over the last 20 years, a key factor in the potential for broader use of the renminbi by Gulf states

Aluminum and iron ore drive Bahrain’s $894.31 million export surge in July 2024

China emerged as the leading import partner, contributing BHD73 million (16 percent) to Bahrain's import basket

Abu Dhabi Chamber sees 23.8 percent year-on-year growth in certificates of origin

This growth underscores the chamber's efforts to boost trade opportunities and enhance the UAE's international trade footprint

Saudi Arabia’s King Salman International Airport: Four world-class design and engineering firms to lead development

New master plan includes several terminals, six runways, and a multi-asset real estate area

Saudi Arabia’s logistics master plan to be launched at the upcoming GLF 2024 in October

Over 10,000 participants, including heads of state, ministers, and industry leaders, will convene in Riyadh

Saudi Arabia’s PIF surpasses $765 billion in AUM, delivering 8.7 percent average annual shareholder return

Since its inception, PIF has achieved an average total shareholder return of 8.7 percent per year

Riyadh Air partners with CONCACAF to connect football fans worldwide

This partnership will boost brand awareness among a large, passionate audience, setting the stage for the 2025 launch

Saudia leads world in on-time flights again

The airline achieved on-time arrival rate of 88.12 percent and on-time departure rate of 88.15 percent

Saudi central bank reports strong growth in reserve assets, reaching $467.4 billion in Q2 2024

The quarter saw a 2.7 percent quarterly increase, adding around SAR46.724 billion to the reserve

The Helicopter Company expands to meet aviation’s changing needs

Innovation and strategic partnerships enable Saudi’s commercial helicopter operator to stay ahead of the curve

As demand soars, Airbus prepares for the Middle East’s aviation future

3,700 new aircraft are needed in the region over the next 20 years

GCC’s aviation sector soars as a key economic driver 

Robust infrastructure, strategic location vital to the growth of the industry and the region’s economy

UAE IPOs surge in Q2 2024, raising $890 million: Report

Sharia-compliant financial products are in high demand, with Sukuk issuances exceeding $10 billion in Q2