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Banking & Finance
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SAMA's decision allows visitors to open bank accounts using the official Visitor ID document
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
Total operating income reached $8.53 billion, up 16 percent, fueled by a 17 percent increase in the financing portfolio
Demand deposits were the largest contributor to liquidity at 49 percent, recording SAR1.425 trillion
20 percent of investors participated in IPOs over the past year and 15 percent engaged in IPO roadshows
Even with the projected increase in debt, the Kingdom's government debt will likely remain lower than Aa2-A1 peers
Energy
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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
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
Aramco’s iktva score has risen from 35 percent in 2015, when iktva began, to 67 percent in 2024
Macroeconomic impact of the entire energy sector is estimated to represent 40 percent of the Kingdom’s GDP
The funds will create jobs, boost the economy, and enhance Serbia’s global standingÂ
Energy park seeks to contribute more than $6 billion to the Kingdom’s GDP annually and create up to 100,000 direct and indirect jobs
Health
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800+ development projects have been funded by SFD since inception
Integrating health, justice and sustainability in decision-making promotes health sector's growth
Will strengthen bilateral cooperation in healthcare and medical services
Agreements mark significant step towards health and pharmaceutical security
Testing blood for p-tau217 could provide accurate Alzheimer’s screening before symptoms manifest
Insurance will become part of the employer’s contract
Industry
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The agreements focused on building investment partnerships in several fields, including construction and infrastructure
Focus areas include modernizing business models and boosting operational efficiency within the industrial sector
As Saudi consumers demand health, convenience and affordability, the kingdom’s food economy is becoming a proving ground for new value creation
Benchikh's focus is on driving innovation that could transform public health while ensuring sustainability of the business and shareholder value
Outbound containers experienced a notable 14 percent increase, reaching 254,832 containers
Saudi Arabia, Vietnam promoting JVs and SMEs through strategic MoU for enhanced trade and investment
The agreement focuses on sectors with considerable growth potential, including industry, services, and the digital economy
Logistics
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Both countries are keen to expand cooperation in logistics, shipping, fisheries, advanced manufacturing, tourism, digitalization, healthcare, education and creative industries
Business Council will raise awareness of opportunities, strengthen relationships and help Kiwi firms do well in Saudi Arabia
Prince Sultan bin Abdulaziz Airport in Tabuk had the fewest complaints and a resolution rate of 100 percent
The agreements between Saudi Arabia and Japan cove healthcare, infrastructure and logistics sectors
Ma'aden's exports reached SAR7 billion, transforming Saudi Arabia into the fourth-largest exporter of phosphate globally
AROYA’s maiden voyage will depart Jeddah on December 16, taking passengers on a three-night journey across the Red Sea
Markets
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The IPO consisted of 15.39 million ordinary shares, accounting for 30 percent of the company’s total issued share capital
The price range for the offering was set between SAR5 and SAR5.30
Issuance comes after Aramco raised $6 billion from its first bond issuance in three years in July
The visit aims to boost cooperation in industry and mining, strengthen bilateral relations, and attract investments to the Kingdom
Aramco will fully fund the transaction which will increase its interest in MidOcean
The company set the final offer price at SAR66 per share, indicating a market capitalization of $903Â million
Miscellaneous
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Season features five main areas: Boulevard World, Kingdom Arena, Boulevard City, The Venue and Al-Suwaidi Park
The funds will create jobs, boost the economy, and enhance Serbia’s global standingÂ
This aid reflects the Kingdom's commitment to ongoing humanitarian efforts for individuals and nations in need
The IPO consisted of 15.39 million ordinary shares, accounting for 30 percent of the company’s total issued share capital
This initiative is part of SAMA's supervisory responsibilities aimed at ensuring the stability and growth of the financial sector
The event showcased over 500 Amazon Echo devices with Alexa during the 94th Saudi festivities
Real Estate
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The arrival of luxury branded experiences marks a significant milestone in the Kingdom’s retail evolution
Riyadh has recorded the highest national increase in Grade A office lease rates over the last 12 months at 31 percent
The second day saw the announcement of an impressive $3.36 billion worth of new projects and strategic agreements in the Kingdom
Total number of real estate transactions across all asset classes surged by 38 percent to just over 106,700 in the first half of 2024
The residential sector began strong in H1 2024, delivering 27,500 units in Riyadh and JeddahÂ
The sales surge is linked to the company’s launch of multiple housing projects across the Kingdom
Telecom
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This agreement with Saudi Arabia is TRAI’s 20th bilateral deal, boosting telecom cooperation between India and the GulfÂ
Group's net profit surged by 44.50 percent to SAR3.28 billion
PIF to acquire 51 percent stake in TAWAL from stc Group
The two companies extended the managed services partnership for another three years
The deal aims to create a neutral host ecosystem, allowing service providers to share infrastructure
