business

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

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 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

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

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

DXC Technology: Transforming government and finance through AI solutions, talent development

Building sustainable talent pipelines is critical for unlocking AI's economic potential in the Middle East

A voice of transformation: BAT group CFO Soraya Benchikh’s bold journey across borders and boardrooms

Benchikh's focus is on driving innovation that could transform public health while ensuring sustainability of the business and shareholder value

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

Moody’s upgrades Saudi Arabia’s credit rating to ‘Aa3’ with stable outlook

Even with the projected increase in debt, the Kingdom's government debt will likely remain lower than Aa2-A1 peers

42 percent of Saudis plan to start businesses in three years: Report

Saudi Arabia’s entrepreneurial drive is at an eight-year high

Saudi women entrepreneurs on the rise since Vision 2030 launch: Report

Among the high-income economies, Saudi Arabia reported the highest total entrepreneurial activity rate for women at 23 percent

Saudi Arabia’s non-oil sector grows for third consecutive month in October, PMI rises to 56.9

Non-oil sector's contribution is projected to exceed 52 percent of the overall GDP and grow beyond 4 percent in 2024

Saudi Mawani reports 8.26 percent cargo growth, exceeding 27 million tons in October 2024

Outbound containers experienced a notable 14 percent increase, reaching 254,832 containers

Red Sea Global secures $1.5 billion for AMAALA infrastructure

This funding was secured by a consortium led by EDF Group and Masdar, alongside Korea East-West Power Company and SUEZ Company

GASTAT: Saudi Arabia’s real GDP grows by 2.8 percent in Q3 2024

Oil activities expanded by 0.3 percent year-on-year, while non-oil activities experienced a notable growth of 4.2 percent 

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

Saudi Ministry of Industry, UNIDO sign agreement to promote industrial development in Kingdom

The partnership outlines initiatives to transfer advanced technology and modernize industrial processes 

Saudi Arabia’s non-oil exports surge to $7.32 billion in August 2024

This represents a $505.86 million increase over the previous year

Top performing airports in Saudi Arabia highlighted in new GACA report

GACA employs a transparent method for performance evaluation by categorizing airports according to their annual passenger volumes

Saudi Arabia, India strengthen ties in communications and space technology

This agreement with Saudi Arabia is TRAI’s 20th bilateral deal, boosting telecom cooperation between India and the Gulf 

Saudi Fund for Development invests $205 million in Serbia for agriculture, education, and energy projects

The funds will create jobs, boost the economy, and enhance Serbia’s global standing 

PIF-owned AviLease purchases Boeing 787-9 aircraft from BBAM

This transaction marks AviLease's first partnership with BBAM, adding its first Boeing 787-9 on operating lease

Saudi Arabia launches air bridge to support Lebanon

This aid reflects the Kingdom's commitment to ongoing humanitarian efforts for individuals and nations in need