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![stc Group net profit rises 7.73 percent to $1.76 billion in H1 2024, revenues up 4.79 percent](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The group attributes this growth in revenues to the increase in stc KSA’s revenues by 0.6 percent
![New luxury resort slated to debut in Saudi giga-project NEOM](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The resort will include a long, bridge-like structure that spans 450 meters and is suspended 40 meters above a lagoon
![Saudi Arabia’s airports see 17 percent rise in passenger numbers to 62 million in H1 2024](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Number of flights saw a 12 percent increase to 446,000 in the first half of the year
![Saudia Group expands domestic network with eight new daily flights to Abha](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Saudia has increased its daily flights to Abha from 14 to 19, marking a notable 35.71 percent growth
![Expat remittances from Saudi Arabia surge 12 percent to $3.35 billion in May](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Remittances sent abroad by the Kingdom's nationals also rose by 6 percent during this period, totaling $1.64 billion
![Saudi Arabia’s Diriyah Company signs $2 billion development contract to develop new mixed-use district](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The project involves the construction of advanced educational institutions, cultural venues, modern offices, and a luxury hotel
![Saudi Arabia reveals designs for world’s tallest sports tower in Riyadh](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
The tower stands tall at 130 meters, encompassing 84,000 sqm of world-class facilities
![Emirates inaugurates $5.4 million lounge at Jeddah’s King Abdulaziz International Airport](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Emirates' 900-square-meter lounge is located in the airport’s newest Terminal 1
![Saudi Aramco exercises greenshoe option, raises $12.35 billion from share sale](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
By exercising the greenshoe option, Aramco raised an additional $1 billion from the listing
![Saudi Arabia attracts $412 million in venture capital funding in H1 2024: Report](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Kingdom accounts for 54 percent of the region's VC investments, a significant increase from its 38 percent share in 2023
![E-commerce in Saudi Arabia sees 17.47 percent surge with 40,697 new records in Q2 2024](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
Riyadh topped the regions in Saudi Arabia for issuing e-commerce records, with 16,535 commercial records
![Saudi’s flynas launches first direct flight between Riyadh and Egypt’s El-Alamein](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20682'%3E%3C/svg%3E)
flynas already connects Egypt to Saudi Arabia with more than 120 weekly direct flights
![Saudi banks post $1.95 billion in aggregate profits for May 2024, reaching 14-month high](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Cumulatively, banks recorded a total profit of $9.27 billion in the first five months of 2024
![Saudi real estate sector contributes 5.9 percent to GDP, hits $169.5 billion in transactions](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The sector recorded more than 280,000 transactions since the beginning of 2024
![Saudi hospitality revenue to rise 7.5 percent in next 4 years, fueled by tourism and Vision 2030](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The GCC hospitality sector's revenue is expected to reach $48.1 billion by 2028
![Beyond payments: How Mastercard is fueling transformation and driving inclusion](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20614'%3E%3C/svg%3E)
Great strides have been made in advancing digital transformation and building a robust payment ecosystem across the region
![Navigating climate-related data in the investment process](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20614'%3E%3C/svg%3E)
Such data are vital for assessing risks, valuing assets, and engaging shareholders
![Saudi banks see 11 percent increase in loans in April, surpassing $715 billion driven by corporate activities](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Personal loans constituted 47 percent of banks' total lending, while corporate loans made up the remaining 53 percent
![Saudi Arabia’s non-oil sector projected to grow 4.8 percent in 2024, 5.2 percent in 2025: Report](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The Kingdom's GDP is expected to expand by 2.3 percent in 2024 and accelerate to 5.8 percent in 2025, the report said
![Aviation sector contributes $53 billion to Saudi GDP: Report](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The sector supports 241,000 jobs, with a further estimated 717,000 jobs in the tourism sector
![Saudi Arabia’s Ministry of Industry issues 12 new mining licenses in March 2024](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
The licenses cover 10 building materials quarry licences, one mineral ores surplus licence, and one reconnaissance licence
![Saudi Arabia’s Quality of Life Program creates over 925,000 jobs in tourism in 2023](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Program rehabilitated of over 100 heritage sites and museums in 2023
![Saudi Entertainment Ventures joins Qiddiya to enhance entertainment ecosystem](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
SEVEN spearheads 21 entertainment projects across 14 cities, with investments exceeding $13.33 billion
![Saudi Arabia’s Diriyah seeks U.K. partnerships in business, development projects](data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20683'%3E%3C/svg%3E)
Diriyah reiterates commitment to expanding its partnership portfolio across various sectors