Saudi Arabia

Saudi Central Bank confirms Q4 2024 as launch period for ‘Samsung Pay’ service in Kingdom

Samsung Pay provides secure payments, letting users manage digital cards in the Samsung Wallet app

Saudi Arabia’s PMI rises to 54.8 in August 2024, driven by new business and government investment

The PMI noted significant job creation, with employment rising at one of the highest rates in a decade

24 Fintech: Saudi Arabia to increase number of fintech companies to 525 by 2030 

By the end of Q2 2024, the number of Fintech companies in the Kingdom reached 224, exceeding the target of 168

NEOM Green Hydrogen Company launches vocational training program in Saudi Arabia

Partnership aligns with Saudi Arabia's Vision 2030 objective of becoming a global leader in renewable energy and sustainable development

Saudi Arabia enhances air connectivity with new direct flight route from Riyadh to London

Saudi Minister of Tourism oversaw agreement between Air Connectivity Program and Virgin Atlantic Airlines

Saudi fund deploys $20 billion globally in 50 years

800+ development projects have been funded by SFD since inception

Saudia expands Indonesia network, launches four direct weekly flights to Medan

Saudia celebrated the inaugural flight to Medan with a ribbon-cutting ceremony at Prince Mohammad bin Abdulaziz International Airport in Madinah

ACWA Power secures $2.58 billion for three major solar projects in Saudi Arabia

This funding will support the development, design, construction, and operation of the projects

Saudi Arabia’s non-oil exports to India exceed $453 million in June 2024

In the last five years (2019-2023), Saudi non-oil exports to India totaled around SAR100 billion

Riyadh Air, noon Payments partner to offer seamless digital payment options

Partnership showcases the airline's dedication to fostering local innovation and contributing to the broader economic goals of Saudi Arabia

Saudi housing company reports $3.59 billion in sales, achieving 4-fold growth with over 13,000 units sold in H1 2024

The sales surge is linked to the company’s launch of multiple housing projects across the Kingdom

Saudi Arabia’s real estate transactions surge 38 percent to $34 billion in H1 2024: Report

Over the last 12 months, residential real estate transaction volumes in Riyadh rose by 49 percent

Saudi Arabia’s non-oil GDP to grow 4.5 percent in 2024, inflation to decline to 1.7 percent: Report

Brent crude to average $84 per barrel in 2024, broadly in line with the average over the last 18 months

New business park with $1 billion investment aims to transform Saudi’s Boulevard City

 The park features 60,000 sqm of creative spaces, nine innovative office buildings

Specialists from 160 countries to attend 19th Internet Governance Forum in Riyadh in December

The forum will discuss internet policy, share information, and exchange experiences to develop solutions

Saudi Arabia to reap $13.3 billion from Esports and gaming by 2030: Report

Tech and government investments are transforming the Kingdom's esports sector, creating 39,000 jobs by 2030

Saudi Arabia sees 60 percent surge in number of factories since launch of Vision 2030

National Industrial Strategy seeks to raise the number of factories across the country 3.5 fold to 36,000 factories by 2035

Saudi Arabia’s ports climb to 15th spot in global container handling ranking: Report

Jeddah Islamic Port has made particularly impressive strides, leaping from 41st to 32nd place

Jeddah Season 2024 attracts 1.7 million visitors to 52-day cultural and entertainment extravaganza

The season invited visitors to explore Jeddah's historic UNESCO site, preserving 400 years of ancient social life

184 foreign companies move regional headquarters to Saudi Arabia in H1 2024: Report

In total, the ministry of investment issued 2,728 investment licenses during the first half of the year, up 49.6 percent annually

Cybersecurity contributes $4.15 billion to Saudi Arabia’s GDP in 2023: Report

 The sector reached $3.54 billion in 2023, showcasing remarkable growth