Economy

Saudi Fund for Development invests $205 million in Serbia for agriculture, education, and energy projects

The funds will create jobs, boost the economy, and enhance Serbia’s global standing 

Saudi Venture Capital to invest $15 million in a VC Fund by Vision Ventures

Saqr Fund II aims for a total size of $90 million and will focus on early-stage startups, ranging from pre-seed to pre-Series B 

Saudi Arabia’s inflation steady at 1.7 percent in September as housing prices rise: Report

Saudi Arabia's inflation rate recorded a slight increase of 0.1 percent compared to August 2024

PIF-owned AviLease purchases Boeing 787-9 aircraft from BBAM

This transaction marks AviLease's first partnership with BBAM, adding its first Boeing 787-9 on operating lease

Saudi Arabia launches air bridge to support Lebanon

This aid reflects the Kingdom's commitment to ongoing humanitarian efforts for individuals and nations in need

Saudi Transport Authority: Over 85 million postal shipments delivered in H1 2024

This volume was handled by over 70 licensed logistics companies, ensuring secure and confidential delivery 

Saudi Red Sea Authority aims to draw 19 million tourists to the coast by 2030: Report

The report highlights the sector's contribution to economic diversification, investment attraction, revenue generation, and job creation 

Saudi’s Arabian Mills lists and starts of trading on Saudi exchange

The IPO consisted of 15.39 million ordinary shares, accounting for 30 percent of the company’s total issued share capital

Saudi Arabia to import 307,000 tons of wheat for strategic reserve maintenance

This shipment is crucial for maintaining strategic wheat reserves and meeting the needs of milling companies

Saudi Arabia, Solomon Islands ink mutual visa exemption agreement

Mutual exemption of short-stay visa requirements will further strengthen and develop ties between the two countries in various fields

Saudi Arabia’s inbound visitor spending reaches $24.6 billion in H1 2024, travel account surplus at $11 billion

This rise in visitor spending highlights the substantial advancements made within the tourism sector

Saudi Central Bank issues compliance, internal audit principles for finance, real estate refinance companies

This initiative is part of SAMA's supervisory responsibilities aimed at ensuring the stability and growth of the financial sector

Saudi airshow set to attract over 100,000 visitors in Riyadh

The event will be the region's largest aviation gathering, with over 100 exhibitors and 15+ airshow teams 

Saudi Arabia’s CMA Chairman: 50 percent of recently listed companies are SMEs

Elkuwaiz noted that the CMA is expanding financing options by streamlining fund management for efficient public offerings 

SRSA, ICOMIA sign MoU to advance coastal tourism in the Red Sea 

The collaboration seeks to foster partnerships with prominent international organizations, and attract investment to the Red Sea Region

Saudi Arabia’s unemployment rate declines to 3.3 percent in Q2 2024: Report

The employment-to-population ratio for Saudis declined by 0.3 percentage points to 47.2 percent compared to the first quarter of 2024

Saudi, Azerbaijan sign MoU for mutual exemption from visa requirements for diplomatic and special passport holders

Both countries explored ways to strengthen bilateral ties and reviewed recent developments in regional and international contexts 

Saudi Arabia evolving into a global logistics hub with innovation and sustainability under Vision 2030

The Kingdom’s ports have made notable advancements, achieving, in August, 15th place globally in annual container handling

Saudi Arabia sees merchandise exports climb to $25.2 billion in July 2024

This represents an increase of $506.5 million, or 2.1 percent from last year 

Riyadh Municipality commits $1.6 billion to five key contracts for road enhancements, sustainable infrastructure

The contracts aim to rehabilitate and pave 83 million square meters of road over the next five years 

Saudi Arabia’s Minister of Industry visits U.S. as non-oil exports reach $2.68 billion

The visit aims to boost cooperation in industry and mining, strengthen bilateral relations, and attract investments to the Kingdom

Saudi Arabia sees 73 percent surge in tourist arrivals, 207 percent rise in revenues

This year, the Kingdom saw 17.5 million international tourist arrivals

Saudi Arabia’s King Khalid International Airport leads with 82 percent compliance among over 15 million passengers: GACA 

GACA assesses airport performance based on annual passenger volumes for a transparent evaluation process