Vision 2030

Saudi Arabia’s debt market doubles in value to $213.12 billion since 2019

The debt market remains under 20 percent of the Saudi economy, offering significant room for further development

Saudi Arabia cancels hotel licensing fees to boost tourism investment 

This change, effective September 4, aims to position the Kingdom as a global tourism leader

Italy’s Saipem secures $1 billion in two major offshore contracts with Saudi Aramco

Saipem will be responsible for the EPCI three production deck modules, 33 km of subsea pipelines, and 34 km of power cables

STC Bank becomes founding partner of Saudi Arabia’s 24 Fintech event

During its participation at 24 Fintech, STC Bank will showcase its offerings and services

Multilateral Industrial Policy Forum to boost Saudi Arabia’s position as leading global industrial center

The forum, to be held in October, will bring together over 3,000 industry leaders

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

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

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

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 Arabia boosts FDI landscape with new investment law updates

Saudi Arabia's FDI inflows rose by 158 percent, from $7.46 billion in 2017 to $19.3 billion in 2023

Saudi Arabia tackles e-waste with 100,000 devices recycled, minimizing environmental footprint

This is part of the Kingdom's strategy to build a sustainable digital future optimizing resource use

Major revisions to Saudi Arabia’s labor law aim to foster job stability, prioritize employee rights

The new revisions encompass 38 articles, removing seven articles, and adding two new articles to the law

Saudi PIF affiliate invests $1.5 billion in EV maker Lucid Group

The deal includes a $750 million convertible preferred investment and a $750 million unsecured term loan

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

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