Highlights The inaugural of UAE–Africa Tourism Investment Summit will take place in Dubai on October 27, 2025, under the Future Hospitality Summit (FHS World 2025). The event will bring together…
Prime Highlights: Saudi Arabia’s total government revenues in 2024 reached SR1.26 trillion ($336 billion), marking a 4% year-on-year increase, exceeding budget estimates by 7%. Non-oil revenues contributed significantly, accounting for…
Prime Highlights: Saudi Arabia’s Industrial Production Index (IPI) saw a 2.1% annual increase in December 2024, driven by manufacturing and waste management sectors. The manufacturing sector recorded a 6.3% year-on-year…
Prime Highlights: Rasm, a Saudi property management firm, is exploring potential global partnerships to strengthen its market presence and drive growth in the Kingdom’s real estate sector. CEO Artin Malatjalian…
Prime Highlights: Umm Al Qura for Development and Construction is launching an IPO to raise funds for its SR100 billion ($26.6 billion) Masar project in Makkah. The project will include…
Prime Highlights: Saudi Arabia’s stock market (TASI) rose by 3.39% in December 2024, closing at 12,037 points with an average daily trading value of SR5.2 billion ($1.3 billion). Dubai Financial…
Prime Highlights: Saudi Arabia's insurance sector saw a 16.9% year-on-year revenue increase in Q3 2024, driven by growth in motor, property, and medical coverage. Medical insurance revenues rose by 13.6%,…
Prime Highlights: Foreigners can now invest in Saudi-listed companies owning real estate in Makkah and Madinah, opening new avenues for investment in the Kingdom's capital market. Foreign investors can acquire…
Prime Highlights: Saudi Arabia’s non-oil exports surged 19.7% year-on-year in November, totaling SR26.92 billion ($7.18 billion), reflecting progress in economic diversification. Chemical products led export growth, making up 24% of…
Prime Highlights: Saudi Arabia's education sector saw a 91.5% increase in spending, reaching SR220.76 million ($58.8 million) between January 12-18, 2025, driven by students returning to school after the midyear…
Prime Highlights: Saudi Arabia's reserves at the central bank, SAMA, reached SR1.69 trillion ($450.31 billion) in November 2024, marking a 2.8% year-on-year increase. Foreign assets, including currency deposits and foreign…
Highlights: Cloud adoption critical to the future of Saudi Arabia’s mining industry. Ma'aden aims for a tenfold growth by 2040, leveraging advanced technologies. Saudi Arabia focuses on integrating AI, cloud,…
Prime Highlights: Saudi Arabia’s bank loans reached SR2.93 trillion ($782 billion) in November 2024, reflecting a 13.33% year-on-year growth—the highest in 22 months. Corporate loans increased by 17.28% to SR1.58…
Prime Highlights: Saudi Arabia’s inflation rate rose by 1.7% in 2024, with housing rents rising by 10.6%. The housing, water, electricity, gas, and fuel sector saw an 8.8% price increase.…
Prime Highlights: Saudi Aramco secures 145 agreements valued at $9 billion on the first day of the iktva Forum 2025. These agreements will boost local content in Saudi Arabia’s energy…
Prime Highlights: Saudi Arabia accounted for 42 of 53 IPOs in the GCC in 2024. The Kingdom raised $4.1 billion, representing 31.6% of total GCC IPO proceeds. Key Background: Saudi…
Prime Highlights: Lenovo to manufacture millions of PCs and servers annually in Saudi Arabia by 2026. The deal follows the completion of a $2 billion investment partnership with Alat, a…
Prime Highlights: The Hafr Al-Batin Investment Forum 2025 concluded with SR17 billion ($4.5 billion) in agreements. Key sectors such as agriculture, livestock, healthcare, logistics, and infrastructure were targeted. Key Background:…
Prime Highlights: Saudi public funds raise domestic money market investments by 82.4% year-on-year. The total assets held by these funds increase to SR160.1 billion ($42.6 billion). Key Background: Saudi Arabia’s…
Prime Highlights: Saudi Arabia successfully issued a $12 billion triple-tranche bond, comprising three-year, six-year, and ten-year maturities. The offering was significantly oversubscribed, with the total order book reaching $37 billion.…
Prime Highlights: Saudi Arabia's finance minister, Mohammed Al-Jadaan, has accepted the fiscal borrowing plan for the year 2025 at SR139 billion or $37 billion. The budget will meet two major…
Prime Highlights: The money supply of Saudi banks has increased by 10.3 percent on year up to November 2024, reaching a total of SR2.95 trillion, equivalent to $785.51 billion. Time…
Prime Highlights: Qatar's Q3 2024 foreign merchandise trade balance surplus stands at 57.7 billion riyals ($15.8 billion), 5% less than it was during the same period of 2023. Total exports…
Prime Highlights: The Public Investment Fund of Saudi Arabia plays a significant role in the transformation of the Kingdom to reduce dependence on oil and diversify the economy. PIF's assets…
Prime Highlights: This country's logistics market increased 267% since 2021, and at this point in 2024, there are already 22 logistic centers, with 34 million square meters for its occupation. …
OPEC has lowered its global oil demand growth estimate for 2024 to 1.6 million bpd from the already reduced estimate of 1.8 million bpd. The reduction shows even more conservative…
The Neo Space Group of Saudi Arabia agreed to a strategic acquisition of the UP42 platform of Airbus in the further development of the space sector of the Kingdom, thus…
The Minister of Human Resources and Social Development, Ahmed Al-Rajhi, stated at the Budget Forum 2024 that Saudi Arabia will reduce its unemployment rate target from the previous target of…
Saudi Arabia's National Housing Company (NHC) unveiled 11 housing projects in Riyadh's Khuzam area, providing more than 10,000 housing units as the Kingdom's quest for quality living spaces continues to…
The Saudi National Housing Co. followed up its first day momentum by signing 21 new agreements with local and international partners on its second day at Cityscape Global 2024. A…
In a recent turbidity of global oil market challenges, it has emerged that Saudi Aramco plans to cut back on the official selling prices (OSPs) for crude oil sales to…
According to an official source, in 2023, the report states that Saudi Arabia attracted foreign direct investment inflows valued at SR96 billion ($25.6bn), which marks a staggering 50% rise year…
In the latest report from the Saudi Central Bank, or SAMA, hotel spending in Saudi Arabia increased by 2.4 percent to around SR270.7 million ($72.1 million) in the week of…
According to an official Tadawul report, foreign investors in the Saudi Exchange acquired net stocks worth around SR3.84 billion ($1.02 billion) in September 2023, which marked a remarkable 947 per…
Saudi Arabia's point-of-sale transactions recorded an 11.9 percent growth in the last week of September to total SR13.3 billion, or US$3.4 billion. The food and beverage sector topped the list…
Trade between China and the Arab League has been growing with the past two decades since a deepened economic cooperation was ushered in after the China-Arab States Cooperation Forum was…
Saudi non-oil exports grew significantly in July, increasing 19.04% to SAR 25.38 billion, or $6.76 billion, the General Authority for Statistics said in data compiled today. Chemical and allied industries…
Cement sales rebounded in a fairly mild fashion during Q2 2024 for Saudi Cement, as cement sales rose to 1.8% in the same quarter of the previous year, whereas it…
Regional and international collaboration is crucial for tackling environmental issues, particularly in rehabilitating degraded lands, according to Mansour Al-Mushaiti, Saudi Arabia’s Vice Minister of Environment, Water, and Agriculture. Al-Mushaiti made…
Saudi banks granted SR7.07 billion ($1.9 billion) in new residential mortgage loans in July, reflecting a 33% increase from June, according to data from the Saudi Central Bank (SAMA). The…
Saudi banks' real estate loans reached SR816.83 billion ($217.82 billion) in the second quarter of 2024, marking a 12% year-on-year increase, according to data from the Saudi Central Bank (SAMA).…
Saudi Arabia's point-of-sale (POS) transactions experienced a significant 20.4% increase between August 25 and 31, driven primarily by a surge in the telecommunications sector. According to the Saudi Central Bank…
Saudi Arabia has introduced a new factory development consultant licensing service, a strategic move aimed at bolstering the country's industrial sector. The initiative, unveiled by the Ministry of Industry and…
Saudi Aramco and Sumitomo Chemical Co. have agreed to waive $1 billion in debt owed by Petro Rabigh, marking a significant step in the refinery’s upgrade and turnaround strategy. According…
Saudi Arabia’s real estate market experienced a significant surge in the first half of 2024, with transactions rising by 38% to reach 106,700 deals, totaling approximately SAR 127.3 billion ($33.9…
Saudi Arabia's industrial sector has experienced significant growth, driven by the Vision 2030 initiative, with the number of industrial facilities increasing by 60 percent since the vision's launch. According to…
Saudi Arabia’s newly updated investment law and a series of recent reforms are expected to significantly advance the Kingdom's goal of securing $24 billion in foreign direct investment (FDI) in…
Saudi Arabia is offering over 120 enablers and incentives to attract investment in its mining sector, according to a top official. Minister of Industry and Mineral Resources Bandar Alkhorayef highlighted…
Saudi Arabia's non-oil exports experienced a 7.3 percent increase in June, reaching SR21.59 billion ($5.75 billion) compared to the same month last year, according to official data from the General…
In a significant development for the logistics sector, Saudi Arabia’s Jazan region is set to benefit from enhanced operational management and air freight services following a strategic agreement between SAL…
Saudi Arabia’s official reserve assets reached SR1.7 trillion ($452.8 billion) in July, reflecting a 6.06 percent increase compared to the same period last year, according to recent data from the…
Venture capital investments in the Middle East and North Africa (MENA) surged to $355 million in July, marking a 206 percent increase from June and a 260 percent rise year-over-year,…
Riyadh Air has unveiled the first electric bus in its employee transportation fleet, aligning with Saudi Arabia's Vision 2030 objectives to reduce carbon emissions. This initiative, developed in collaboration with…
Saudi Arabia and Djibouti have launched a significant maritime initiative to strengthen trade connections and boost economic ties between the two nations. At the core of this collaboration is the…
On August 7, Saudi Arabia’s Ministry of Industry and Mineral Resources announced a competitive bid for seven new mining exploration licenses, covering approximately 1,000 square kilometers. This initiative is aimed…
Lucid Group, a U.S. electric vehicle manufacturer, has secured $1.5 billion in new funding from its majority shareholder, Ayar Third Investment Co., an affiliate of Saudi Arabia’s Public Investment Fund…
Saudi Arabia has launched the sixth round of its subscription-based savings product, Sah, for August, offering a competitive return of 5.48 percent. The subscription period began on August 4 and…
Saudi Arabia’s real estate price index experienced a 1.7 percent increase in the second quarter of 2024 compared to the same period last year, largely driven by rising costs in…
In June, Qatar's inflation rate remained stable, with the Consumer Price Index (CPI) reaching 107.52 points, a slight decline from 107.59 in May. This represents a 0.98% year-on-year increase from…
The Saudi insurance sector is poised for consolidation as Buruj Cooperative Insurance Co. and the Mediterranean and Gulf Insurance and Reinsurance Co. (Med Gulf) have signed a non-binding memorandum of…
Saudi Arabia's financial technology sector is witnessing increased interest from artificial intelligence startups, aiming to capitalize on the industry's rapid growth. Singapore-based AI startup Dyna.Ai, currently operating in seven countries,…
Riyad Bank has marked a significant milestone in Saudi Arabia's digital banking landscape with the inauguration of the Center of Intelligence, the kingdom’s pioneering artificial intelligence (AI) hub within the…
Saudi Arabia’s growing business landscape has encouraged regional and global companies to establish a local presence in the burgeoning market. Egypt-born generative artificial intelligence startup DXwand is leaving no stone…
Saudi Arabia is embarking on an ambitious program to develop peaceful nuclear energy that will have profound positive impacts on the energy industry and wider economy. According to the Ministry…
A delegation from Saudia airline recently visited Airbus’s factory in Hamburg to witness firsthand the progress of the largest aircraft deal in the Kingdom’s aviation history. This landmark agreement, signed…
According to current data, the yearly rise in credit facilities for micro, small, and medium-sized businesses in Saudi Arabia was 16 percent in the first three months of 2024. Data…
On Thursday Brent Crude Oil prices surged above $87 for the first time since April as the earlier day data showed a decline in US inventories. By 1922 GMT Brent…
From June 30 to July 6, Saudi Arabia's point-of-sale spending climbed by 7.7 percent to SR13.2 billion ($3.51 billion), with hotel payments leading the increase, according to government figures. According…
GFH Partners Ltd, GFH Financial Group's global asset management arm, has created and completed its eighth logistics and industrial fund in the United States, the Dubai Financial Markets-listed company stated…
Middle Eastern airlines experienced a 9.7 percent annual growth in passenger demand in May, driven by increased travel to Asia, according to a report by the International Air Transport Association…
In a contract valued at $733 million, ADNOC Drilling will deploy three ‘island’ drilling rigs for the offshore Zakum field operations in Abu Dhabi, awarded by ADNOC Offshore. The new…
Saudi Arabia’s point-of-sale (POS) spending surged by 48 percent, reaching SR12.34 billion ($3.29 billion) from June 23 to 29, with the education sector experiencing the most significant increase. Data from…
Saudi Arabia's finance minister believes the country's savings, natural resources, and state skills make it well-positioned for long-term economic development. During the OPEC Fund Development Forum and Ministerial Meeting in…
Negotiations between two firms may still take some time to finalize or could break down. Qatar Airways is currently in talks to acquire approximately 20 percent of Virgin Australia Airlines…
According to a new analysis, Saudi Islamic banks are expected to continue their strong performance this year and in 2025, boosted by non-oil economic development and good operating conditions. Fitch…
Spinneys, a DFM-listed company, had a main expansion strategy that included entering Saudi Arabia. Spinneys, a Dubai-based supermarket chain, has achieved a significant milestone by opening its first shop in…
An analysis has highlighted the need for substantial investment to tap into the potential 1,400 gigawatts of offshore wind energy in the Middle East and North Africa (MENA) region. According…
According to the sources, Saudi Arabia has surpassed China as the leading developing market issuer of international bonds, with $33.2 billion in bond sales to date. Due to an 8%…
The digital revolution within Saudi Arabia’s banking sector has significantly enhanced the nation’s economic landscape, making financial transactions easier for customers, experts told Arab News. The Kingdom, known for its…
The plant is set to be the first LNG export facility in the Middle East and North Africa region. ADNOC has granted NMDC Energy, Technip Energies, and JGC Corporation a…
Company will be one of the first fintech firms to go public in the kingdom. Saudi Fintech Rasan Information Technology Co. rose in its Riyadh debut after raising SR841 million…
Saudi Arabia’s pioneering electric vehicle brand, Ceer, has secured a significant SR8.2 billion ($2.18 billion) agreement with Hyundai Transys, a South Korean company, to supply "EV Drive Systems" for its…
According to official data, Saudi Arabia's Industrial Production Index increased by 1.1 percent to 105.6 points in April as a result of manufacturing operations. The General Authority for Statistics reports…
Energy investment in the Middle East is projected to reach around $175 billion in 2024, with clean resources accounting for approximately 15 percent of this total, according to a new…
Saudi Arabia aims to leverage Morocco's mining expertise, as both countries hold substantial reserves and produce over 40% of the world's phosphate fertilizer, according to Saudi Minister of Industry and…
A recent analysis released by the International Energy Agency (IEA) suggests that the speedy adoption of sustainable technology has the potential to improve energy affordability. With solar photovoltaic and wind…
Lenovo, the global technology giant, has announced a significant bond deal with Alat, a strategic partner. Under the agreement, Lenovo will issue $2 billion in convertible bonds to Alat. The…
Company to expand network of filling stations from 840 to 1,000 stations over next 5 years ADNOC Distribution plans to expand its network of fuel stations in the UAE, Egypt,…
As the Kingdom diversifies its economy, the fashion industry in Saudi Arabia is expected to develop at a cumulative annual rate of 48% between 2021 and 2025, according to a…
On the sidelines of the Saudi-Japan Vision 2030 Business Forum in Tokyo, the Saudi EXIM Bank has signed two cooperation agreements with SMBC Business Banking and MUFG Bank. These agreements…
Archer Aviation recently inked a significant pact with the Abu Dhabi Investment Office (ADIO) for multi-million dollar investments to accelerate its planned commercial air taxi operations in the UAE. This…
The second day of the Future Aviation Forum 2024, hosted by the General Authority of Civil Aviation (GACA) in Riyadh, witnessed the signing of a remarkable 102 memoranda of understanding…
An industry forum was informed that Saudi Arabia is leading revolutionary efforts to improve innovation in supply chains and procurement across multiple industries. A number of talks and panel discussions…
In a significant development, Golden Gate Ventures, a venture capital fund founded by Silicon Valley natives, today announced the first close of its US$100M MENA Fund I, backed by prominent…
In comparison to the same quarter previous year, Emaar's reported revenues of Dh6.7 billion ($1.8 billion) and net profit of Dh4.3 billion ($1.2 billion) increased by 16%. Comparing Q1-2023 to…
Dubai's toll-gate operator, Salik, reported a robust set of financial results, driven by a sharp rise in the number of registered vehicles on the city's roads. In the first quarter…
From Dh4.75 billion to Dh5.73 billion, total revenues grew by Dh987 million. Etihad Airways' Q1 earnings in Abu Dhabi surges to Dh526 million as passenger numbers rise by 41%. From…
Ramco uses cutting-edge technology to process payroll quickly, easily, and accurately. Ramco Payce, a ground-breaking platform-based payroll software, has been introduced in the United Arab Emirates by Ramco Systems, a…
The Dubai Taxi Company had excellent growth in income and profitability for the January to March quarter, with the fleet operator seeing strong gains in passenger contracts. Profit after taxes…
PhysioTherabia expands its collaboration with top insurance companies. Burjeel Holdings has opened five new PhysioTherabia locations in the Kingdom of Saudi Arabia, signifying a major network expansion. The three strategically…
Artificial intelligence is driving a major revolution in Saudi Arabia's health technology industry, with considerable potential benefits for both operations and the economy. According to a McKinsey & Co. estimate,…
Sheikh Mohammed bin Rashid Al-Maktoum, the ruler of Dubai, announced on Sunday in a post on X that he has approved a new passenger terminal at Al Maktoum International Airport,…
In recent years, Saudi Arabia's business landscape has undergone a significant transformation as companies increasingly view artificial intelligence as indispensable for their operations. With the Kingdom hosting prominent technology events…
The prospect of full-scale air taxi services in the UAE is drawing nearer with a recent "framework agreement" established between Archer Aviation and the Abu Dhabi Investment Office (ADIO). Under…
The Kingdom of Saudi Arabia has approved the operations of a UBS branch in the country, with the goal of improving the country's financial environment. According to the sources, the…
Saudi multi-sector company WAJA Co. plans to create a joint venture in Egypt to develop and manufacture electric vehicles. According to the sources, the agreement, signed with the military group…
Exhibition features 500,000 years of human history, starting in the Stone Age. Thursday marked the opening of the "From Arabia to Central Asia: treasures from Sharjah at the Silk Road"…
The Gulf region, encompassing countries like Saudi Arabia, the United Arab Emirates (UAE), Qatar, Kuwait, Oman, and Bahrain, has long been synonymous with the Black gold or oil wealth. However,…
Saudi-Spanish cooperation is expected to expand in the areas of engineering technology, renewable energy, and urban infrastructure development after a high-level discussion in Madrid. Majed Al-Hogail, Saudi Arabia's Minister of…
The IMF revised up its estimate of Saudi Arabia's economic growth to 6% in 2025 from 5.5% earlier in the year 2024. The IMF also stated in its most recent…
In Saudi Arabia, the Consumer Price Index (CPI) experienced a marginal decline of 0.1% compared to February 2024. This decrease in inflation signals a slight easing in price increments within…
When compared to the same month last year, the foreign assets held by Saudi Arabia's commercial banks increased by 22% in February, totalling SR347.63 billion ($92.7 billion). According to new…
Sara Ahmed Buhiji, the new CEO of the Bahrain Tourist and Exhibitions Authority, recently shared her exciting vision for Bahrain's tourism development. Buhiji is determined to make Manama the ultimate…
For the festival, fifty of the best restaurants in the area join together. In keeping with Dubai's reputation as the global center of food culture, Dubai Restaurant Week will unite…
Saudi Arabia introduced the Mining Exploration Enablement Program, which invites foreign firms and explorers for participation. The Saudi mining industry is set to grow rapidly in the coming period. According…
With the launch of a new shipping service by German container transportation company Hapag-Lloyd, maritime connectivity between Saudi and African ports is expected to get a boost. The Saudi Ports…
As Flynas continues to pursue its growth and expansion goals, the Saudi low-cost carrier has received its 50th aeroplane from Airbus from a consignment of 120 aircraft. The European aerospace…
In March, startups in the Middle East and North Africa (MENA) region secured $254 million across 54 deals, marking a significant increase of 186% month on month (MoM) from February's…
Anticipation of robust infrastructure development in Saudi Arabia is driving a surge in demand for plastic pipes, signalling significant growth prospects for the market in the coming years. The Saudi…
Almarai firm has unveiled its five-year investment strategy, 2024-2028, to improve its position as the world's largest vertically integrated dairy firm, as well as the leading producer and distributor of…
Over the last decade, the chronically indebted country has sold off tourism, agricultural, and port assets to the United Arab Emirates and Saudi Arabia. It's a gigantic lifeline built at…
On Sunday, the European Union and Egypt announced that they had reached a mutual decision to advance their cooperation into a strategic and all-encompassing alliance. In light of this, Egypt…
Doha’s Mathaf: Arab Museum of Modern Art establishes itself as one of the most authoritative voices for Arab narratives and the Global South in art with shows ranging from political…
The United States Maritime Alliance, which represents port terminal operators and ocean carriers on the East Coast, and the International Longshoremen's Association have a six-year contract that ends on September…
Ramadan begins on Monday, as Saudi Arabia has declared. Muslims are urged by Saudi Arabia to search for the Ramadan crescent on Sunday night. Dubai: The Supreme Court of Saudi…
Despite facing challenges throughout the year, Gulf Insurance Group has reported a net profit of KD21.2 million ($69 million), or 74.73 fils per share, for the financial year ending December…
The entry of Standard Chartered into Egypt marks a significant development that holds the promise of enhanced financial opportunities for Egyptian companies and financial institutions. The British multinational bank officially…
Aster DM Healthcare, headquartered in Dubai, is poised to undergo a dual listing in both the UAE and Saudi Arabia in the coming three to five years, as stated by…
Saudi Arabia's gaming industry is on the brink of a significant boost as the UAE-based esports network True Gamers plans to set up 150 centers in the Kingdom. Founded in…
On Tuesday, the International Monetary Fund (IMF) adjusted its global economic growth forecast upward, indicating an improved outlook for both the United States and China. The adjustment was attributed to…
The Visual Arts Commission is set to unveil the highly anticipated international interactive art exhibition, "Imagine Picasso," at the picturesque Laysen Valley in Riyadh. This captivating showcase, scheduled to run…
