Saudi Arabia

TOURISE 2025: Tourism Development Fund announces $773 million in foreign investments and private partnerships
Banking & Finance

TOURISE 2025: Tourism Development Fund announces $773 million in foreign investments and private partnerships

The fund announced five integrated tourism projects totaling 1,211 hotel keys

How Lucid Motors Middle East is driving Saudi Arabia’s vision of a sustainable future
Industry

How Lucid Motors Middle East is driving Saudi Arabia’s vision of a sustainable future

The automaker is spearheading Saudi Arabia’s EV ambitions, combining cutting-edge innovation with local talent to support Vision 2030 and drive the Kingdom’s transformation into a global clean mobility hub

Saudi Railway Company launches $1.6 billion real estate fund in Makkah with Riyad Capital
Real Estate

Saudi Railway Company launches $1.6 billion real estate fund in Makkah with Riyad Capital

The project will be developed on a 90,000-square-meter land plot located in the Al-Rusifah district near the Haramain High-Speed Railway Station in Makkah

Saudi Arabia, Meta explore partnership opportunities in AI, LLMs, and metaverse
Saudi Arabia

Saudi Arabia, Meta explore partnership opportunities in AI, LLMs, and metaverse

Minister Alswaha's visit to Meta sets stage for major AI innovations in the Kingdom

Saudi Arabia partners with UN to launch global initiative for capacity building in cyberspace
Saudi Arabia

Saudi Arabia partners with UN to launch global initiative for capacity building in cyberspace

Initiative aims to enhance the skills of a wide range of beneficiaries, including policymakers, law-enforcement agencies, diplomats and professionals in the field

5 investment agreements signed at Saudi-Vietnamese Business Forum to expand partnerships in key fields
Economy

5 investment agreements signed at Saudi-Vietnamese Business Forum to expand partnerships in key fields

The agreements focused on building investment partnerships in several fields, including construction and infrastructure

Visitor ID now accepted for opening bank accounts in Saudi Arabia
Banking & Finance

Visitor ID now accepted for opening bank accounts in Saudi Arabia

SAMA's decision allows visitors to open bank accounts using the official Visitor ID document

Saudi Arabia-Norway bilateral trade grows 360 percent to $828 million between 2020 and 2024
Economy

Saudi Arabia-Norway bilateral trade grows 360 percent to $828 million between 2020 and 2024

Both countries are keen to expand cooperation in logistics, shipping, fisheries, advanced manufacturing, tourism, digitalization, healthcare, education and creative industries

Saudi Arabia to establish AI center of excellence to support investors in industrial cities, enhance digital transformation initiatives 
Industry

Saudi Arabia to establish AI center of excellence to support investors in industrial cities, enhance digital transformation initiatives 

Focus areas include modernizing business models and boosting operational efficiency within the industrial sector

New Zealand–Saudi Arabia Business Council established following $100 million trade boost
Economy

New Zealand–Saudi Arabia Business Council established following $100 million trade boost

Business Council will raise awareness of opportunities, strengthen relationships and help Kiwi firms do well in Saudi Arabia

Gas surge puts Saudi Arabia on track to end oil burn by 2030
Energy

Gas surge puts Saudi Arabia on track to end oil burn by 2030

Statistics compiled from the Joint Organizations Data Initiative (JODI) show that direct oil burn averaged 943,000 b/d during the first half of this year even as electricity demand soared by 10 percent year-on-year

Experience-driven commerce to boost Saudi Arabia’s lifestyle retail landscape
Economy

Experience-driven commerce to boost Saudi Arabia’s lifestyle retail landscape

The arrival of luxury branded experiences marks a significant milestone in the Kingdom’s retail evolution

Redefining value in Saudi Arabia’s food economy
Economy

Redefining value in Saudi Arabia’s food economy

As Saudi consumers demand health, convenience and affordability, the kingdom’s food economy is becoming a proving ground for new value creation

SEC’s capital expenditures surge 44 percent to all-time high of $16 billion in 2024 as revenues grow 18 percent
Banking & Finance

SEC’s capital expenditures surge 44 percent to all-time high of $16 billion in 2024 as revenues grow 18 percent

SEC posted a net profit of SAR6.9 billion for 2024, down from SAR10.2 billion in 2023 due to a one-time expense of SAR5.7 billion

Saudi Arabia’s Al Rajhi Bank posts 19 percent rise in net profit to $5.25 billion in 2024
Banking & Finance

Saudi Arabia’s Al Rajhi Bank posts 19 percent rise in net profit to $5.25 billion in 2024

Total operating income reached $8.53 billion, up 16 percent, fueled by a 17 percent increase in the financing portfolio

Saudia tops GACA carrier classifications with 99 percent complaint resolution rate in December
Logistics

Saudia tops GACA carrier classifications with 99 percent complaint resolution rate in December

Prince Sultan bin Abdulaziz Airport in Tabuk had the fewest complaints and a resolution rate of 100 percent

Aramco inks 145 deals worth $9 billion at iktva Forum & Exhibition 2025
Energy

Aramco inks 145 deals worth $9 billion at iktva Forum & Exhibition 2025

Aramco’s iktva score has risen from 35 percent in 2015, when iktva began, to 67 percent in 2024

Saudi Arabia, Japan expand bilateral cooperation, ink 13 deals in key sectors
Logistics

Saudi Arabia, Japan expand bilateral cooperation, ink 13 deals in key sectors

The agreements between Saudi Arabia and Japan cove healthcare, infrastructure and logistics sectors

Noor Riyadh 2024: World’s largest light art festival welcomes over 3 million guests
Hospitality & Tourism

Noor Riyadh 2024: World’s largest light art festival welcomes over 3 million guests

The festival achieved two new Guinness World Records titles

Saudi Arabia’s re-exports grow 23 percent to $16.23 billion in 2024
Logistics

Saudi Arabia’s re-exports grow 23 percent to $16.23 billion in 2024

Ma'aden's exports reached SAR7 billion, transforming Saudi Arabia into the fourth-largest exporter of phosphate globally

Saudi Arabia’s liquidity grows 9.2 percent to $781.35 billion in October 2024
Banking & Finance

Saudi Arabia’s liquidity grows 9.2 percent to $781.35 billion in October 2024

Demand deposits were the largest contributor to liquidity at 49 percent, recording SAR1.425 trillion

Cruise Saudi launches inaugural AROYA ship at Jeddah Islamic Port
Hospitality & Tourism

Cruise Saudi launches inaugural AROYA ship at Jeddah Islamic Port

AROYA’s maiden voyage will depart Jeddah on December 16, taking passengers on a three-night journey across the Red Sea

Investor optimism soars as Saudi Arabia gears up for IPO market boom: Survey
Banking & Finance

Investor optimism soars as Saudi Arabia gears up for IPO market boom: Survey

20 percent of investors participated in IPOs over the past year and 15 percent engaged in IPO roadshows

Saudi Arabia records strongest non-oil activity growth in 16 months: PMI
Economy

Saudi Arabia records strongest non-oil activity growth in 16 months: PMI

Saudi Arabia's PMI rose from 56.9 in October to 59 in November, marking the fourth consecutive month of expansion