Economy

Saudi Arabia’s unemployment rate declines to 4.4 percent in Q4 2023
Economy

Saudi Arabia’s unemployment rate declines to 4.4 percent in Q4 2023

The unemployment rate among women saw a 2.6 percent decline

Saudi Arabia’s greenfield FDI inflows surge over two-fold to $28.78 billion
Economy

Saudi Arabia’s greenfield FDI inflows surge over two-fold to $28.78 billion

This figure surpassed the previous peak of $17.57 billion in 2018

Saudi Arabia’s private equity activity surges to $4 billion in transactions in 2023
Economy

Saudi Arabia’s private equity activity surges to $4 billion in transactions in 2023

Kingdom's private equity sector thrives, dominated by buyout transactions

12 percent surge in Saudi business registrations, reaching 1.12 million
Economy

12 percent surge in Saudi business registrations, reaching 1.12 million

The city has seen a 14 percent increase in commercial records, surpassing 192,000 in the past five years

Saudi Arabia implements 2nd phase of Saudization of consulting services
Economy

Saudi Arabia implements 2nd phase of Saudization of consulting services

Second phase covers 40 percent of professions in the sector

Saudi Arabia’s point-of-sale operations reach $3.1 billion during first week of Ramadan
Economy

Saudi Arabia’s point-of-sale operations reach $3.1 billion during first week of Ramadan

Riyadh records highest spending at a value of SAR3.8 billion

Saudi Cabinet greenlights agreement for setting up IMF regional office in Riyadh
Economy

Saudi Cabinet greenlights agreement for setting up IMF regional office in Riyadh

The initiative seeks to enhance the presence and collaborative efforts of the IMF with Arab institutions

Economic and social reforms bolster Saudi Arabia’s stable credit ratings, says S&P Global
Economy

Economic and social reforms bolster Saudi Arabia’s stable credit ratings, says S&P Global

The non-oil sector investment key to sustaining 3.3 percent annual GDP growth over 2024-2027

Saudi Arabia’s non-oil economy reaches 50 percent of real GDP
Economy

Saudi Arabia’s non-oil economy reaches 50 percent of real GDP

Private investment and robust exports drive record-breaking expansion

Housing costs propel Saudi Arabia’s inflation to 1.8 percent in February
Economy

Housing costs propel Saudi Arabia’s inflation to 1.8 percent in February

Subcategory prices for housing, water, electricity, gas, and fuels rose 8.5 percent YoY

Booming hospitality, transport, and arts sectors fuel Saudi Arabia’s business growth in 2023
Economy

Booming hospitality, transport, and arts sectors fuel Saudi Arabia’s business growth in 2023

The ministry of commerce reported an increase in commercial registrations across various sectors

Saudi Arabia’s PIF inches closer to $1 trillion in assets
Economy

Saudi Arabia’s PIF inches closer to $1 trillion in assets

Strategic acquisitions and diversification drive growth trajectory

Saudi Arabia’s non-oil activity increases by 4.4 percent in 2023
Economy

Saudi Arabia’s non-oil activity increases by 4.4 percent in 2023

Despite decline in oil production, diverse industries foster growth in the kingdom

Saudi Arabia’s National Development Fund signs partnership agreement with World Economic Forum
Economy

Saudi Arabia’s National Development Fund signs partnership agreement with World Economic Forum

The partnership seeks to foster ties with diverse financial institutions and companies

Saudi Arabia’s Crown Prince transfers another 8 percent of Aramco shares to PIF
Economy

Saudi Arabia’s Crown Prince transfers another 8 percent of Aramco shares to PIF

The state's ownership of the Aramco's shares now stands at 82.186 percent

Saudi Arabia GDP 2023: Non-oil economy is key growth driver
Economy

Saudi Arabia GDP 2023: Non-oil economy is key growth driver

Non-oil economy grew while overall real GDP contracted

Saudi Arabia’s non-oil sector activity rises at the quickest rate in five months
Economy

Saudi Arabia’s non-oil sector activity rises at the quickest rate in five months

Riyad Bank PMI shows encouraging signs despite lingering competitive pressures

Second phase of Saudization of licensed aviation professions launched
Economy

Second phase of Saudization of licensed aviation professions launched

This phase will focus on pilots and flight attendants

Currency pegging: Overview, pros and cons
Economy

Currency pegging: Overview, pros and cons

This policy ushers in stability and minimizes inflation

S&P Global Market Intelligence forecasts gradual global growth amid economic challenges
Economy

S&P Global Market Intelligence forecasts gradual global growth amid economic challenges

GCC's non-oil economy to continue performing strongly

Over 350 international investors to establish regional headquarters in Saudi Arabia 
Economy

Over 350 international investors to establish regional headquarters in Saudi Arabia 

The minister highlighted a tenfold increase in international investment licenses in the Kingdom

Saudi CEOs’ confidence in Kingdom’s economic growth, AI Impact reaches 89 percent: Report
Economy

Saudi CEOs’ confidence in Kingdom’s economic growth, AI Impact reaches 89 percent: Report

GenAI predicted to boost product quality, competitiveness, and workplace efficiency

Moody’s affirms top credit ratings for key companies in Saudi Arabia
Economy

Moody’s affirms top credit ratings for key companies in Saudi Arabia

Ratings reaffirm financial resilience and strategic importance within national economy

64 percent of consumers in Saudi Arabia regard Ramadan as opportune time for new purchases: Report
Economy

64 percent of consumers in Saudi Arabia regard Ramadan as opportune time for new purchases: Report

Appetite for spending in the Kingdom soared 46 percent ahead of Ramadan 2024