business

Saudi Arabia’s ports achieve 14.6 percent increase in container traffic, surpassing 5 million TEUs in 2023, says GASTAT

Inbound traffic totaled 3.4 million TEUs, whereas outbound traffic amounted to 2.2 million TEUs

Saudi-Italy bilateral trade hits $10.1 billion as 7,000 Italian firms target Saudi market

The announcement was made at the Saudi-Italian Business Forum at the Federation of Saudi Chambers' headquarters 

Saudi Arabia climbs 25 spots to 4th globally, 1st regionally in UN digital services index

The Kingdom ranked seventh in the e-participation index, with Riyadh placed third among 193 global cities 

EFG Hermes KSA: Banking on opportunities in Saudi Vision 2030 and beyond

Since 2019, firm has successfully completed more than 14 IPOs in the Kingdom

SMEs account for 90 percent of the industrial sector in Saudi Arabia, says Minister Alkhorayef

The ministry has launched initiatives in the industrial and mining sectors for entrepreneurs and SMEs to leverage

Saudi Arabia, U.K. discuss advancing 79 initiatives across 13 sectors and $103 billion bilateral trade

The discussions also covered Saudi Arabia's Vision 2030 and ongoing economic and development reforms

Saudi Arabia’s real estate market maintains upward momentum, fueled by residential and hospitality sectors: Report

The residential sector began strong in H1 2024, delivering 27,500 units in Riyadh and Jeddah 

Saudi fund to finance $41-million infrastructure rehabilitation project in Dominica

This initiative aims to boost socio-economic growth and improve residents' quality of life 

Saudi Arabia concludes participation in G20 Space Economy Leaders Meeting, signs pact with Brazil for peaceful space collaboration

The meeting included bilateral talks with Brazil and India on cooperation in the space economy and related technologies

Saudi Arabia, Brazil unite to elevate joint efforts in space science and technology

The agreement details collaboration in space activities, such as science research and remote sensing

Saudi Arabia secures top ranking in the UN Global Cybersecurity Index 2024 through comprehensive national strategies

Saudi Arabia's exceptional performance across all five pillars highlights its leadership in this domain

Saudi events industry projected to grow from $2.38 billion in 2024 to $3.45 billion by 2029: Report

The Kingdom is becoming a dynamic center for high-profile events and large-scale gatherings 

Wizz Air launches direct route from London Gatwick to Jeddah with Airbus A321XLR

The new London Gatwick to Jeddah route will operate daily year-round, starting 31 March 2025 

Non-oil activities in Saudi Arabia expand by 4.9 percent in Q2 2024: GASTAT

Seasonally adjusted real GDP rose by 1.4 percent compared to the first quarter of 2024

IMF commends Saudi Arabia’s progress under Vision 2030: Report

The Fund highlighted resilient non-oil growth in the Kingdom, applauded record low unemployment

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

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

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 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

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