Sector
Banking & Finance
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Region must tackle important structural reform agenda to ensure peace and stability
Businesses need to be agile, adapt their strategies and invest in digital infrastructure
Robust M&A activity in the region with economic diversification driving growth
In December 2023, Cenomi Retail acquired 100 percent of the share capital of Innovative Outfit Trading Company
The operating income grew by 9.5 percent
Accelerating innovation, unveiling market trends and crafting business success
Energy
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Deal aligns with Aramco’s strategy to expand its presence in key high-value markets like China
This represented a rise of 55,000 bpd or 0.61 percent compared to the previous month
The contract includes a mandatory and optional extension period of up to 18 months
This expansion initiative aims to enhance the plant's processing capacity from 2.5 to a potential 4 bscfd
Iraq and Nigeria lead reductions, maintaining OPEC's commitment to supply restraint
OPEC believes that the oil industry will need approximately $11.1 trillion by 2045
Health
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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
Enhancing employee well-being improves organizational performance
Including AI, digitization and biotechnology
Industry
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$2.5 trillion in mineral wealth support Saudi Arabia's diversification efforts
Index reveals 2.1 percent annual increase in manufacturing activity
MODON received the "Most Attractive Destination for Investments Award" in 2023
Vision 2030 propels industrial sector through mega projects
Exploitation licenses in the Kingdoms mining sector soared by 138 percent
A total of 152 new industrial licenses were issued in January
Logistics
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This robust performance reflects the sector's successful recovery from the COVID-19 pandemic
First airport in Saudi Arabia to implement biometric e-passport scanners
The Ministry of Commerce recorded 104,000 registrations and 65,363 permits in Q1 2024
Expected financial impact to appear on company's statements starting from Q1 2024
China remains Saudi Arabia's top trade partner
King Abdulaziz International Airport secured the top spot with a 91 percent compliance rate
Markets
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Gold could remain between $2,300 and $2,350 unless a fresh catalyst emerges
Gold dipped more than 2 percent in the previous session, its largest intraday decline in over a year
Bullion loses safe-haven appeal amidst reduced geopolitical risks
Market analysts referred to gold as a geopolitical trade rather than a monetary policy trade at the moment
Brent futures rose by $2.63, reaching $89.74 per barrel
Gold maintains safe-haven appeal despite Federal Reserve's stance on rates
Miscellaneous
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Currently, Saudi Arabia has 66 movie theaters with approximately 618 screens and 63,373 seats
The project primarily targets showcasing the rich heritage of the Historic Jeddah District
The Kingdom’s franchising market offers over 10,000 business opportunities
The Kingdom's Ambassador Dr. Abdulaziz Al-Wasel becomes first permanent representative to chair committee since 1946
The new resolution will apply to private sector establishments that employ three or more workers in dental professions
The inaugural Esports World Cup is set to take place later this year in Riyadh
Real Estate
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40 percent of Spain's investments in Saudi Arabia over the past 10 years has been in the real estate sector
More than 600,000 trees and shrubs will be planted, covering 65 percent of the park area
Facilitating logistical supply for real estate-related projects in Saudi Arabia
Stable oil prices and strong economic indicators drive optimism
Building greater buyer trust, educating developers key to scale up demand
The new project includes 390 villas and townhouses
Telecom
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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
The Group reported $3.6 billion in net profits
Diversifying its business and creating robust pillars are key to its continuing success
