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investment
Banking & Finance
Saudi banks’ deposits grow 5.9 percent in Q1 2024, outpacing 3.5 percent loan growth: Report
The report shows remarkable growth in operating income (+3.8 percent) mainly on the back of higher fee income
Economy
Saudi Arabia issues 127 regional HQs licenses for companies in Q1, up 477 percent YoY
MISA processed during the quarter 445 investor visit visa applications, enabling overseas businesses to explore opportunities
Markets
Saudi Aramco’s $12 billion offering sees strong demand, value could rise to $13.1 billion
The banks on the Aramco offering will take institutional orders until Thursday and will set the price of the shares the following day
Banking & Finance
Saudi banks witness 8 percent surge in Q1 earnings, reaching $4.97 billion
The growth in earnings is driven by 11 percent lending growth and a rising interest rate environment
Saudi Arabia
Saudi Arabia emerges as key investor in Elon Musk’s $24 billion startup xAI
The startup recently announced its $6 billion Series B funding round which it will utilize to launch xAI’s first products in the market
Economy
Saudi Arabia’s non-oil sector projected to grow 4.8 percent in 2024, 5.2 percent in 2025: Report
The Kingdom's GDP is expected to expand by 2.3 percent in 2024 and accelerate to 5.8 percent in 2025, the report said
Saudi Arabia
Saudi Arabia’s PIF launches Neo Space Group to boost satellite and space sector
Neo Space Group is PIF's first venture into the space sector
Hospitality & Tourism
Saudi Arabia commits $800 billion to tourism, aims for 10 percent sector contribution to economy by 2030: Minister
Al Khateeb outlines plans to add over 250,000 hotel rooms, attract young Saudis to the industry
Energy
Saudi Arabia’s E&P investments to reach $7 billion in 2025: Report
By 2025, the Kingdom is expected to account for 67 percent of the MENA region's total E&P expenditure
Logistics
102 agreements worth over $20 billion signed at Saudi Arabia’s Future Aviation Forum 2024
GACA launches first aviation sector report for Saudi Arabia highlighting contributions of $53 billion
Logistics
Future Aviation Forum 2024 seals 47 agreements worth $19 billion
The Saudi aviation sector contributed $53 billion to the country's economy and supported around 958,000 jobs nationwide
Logistics
Saudi Arabia, Estonia sign MoU to advance transportation technologies
The deal seeks to harmonize policies and legislation, and facilitate expertise exchange to address transport and logistics challenges
Economy
U.K. second largest foreign investor in Saudi Arabia with $16 billion in investment shares
Saudi minister highlights the Kingdom's status as the fastest-growing economy over the past six years
Economy
$3.7 billion Saudi investments set to boost North East England’s economy, generate 2,000 jobs: U.K. Official
An Education Task Force will be also established to promote cooperation in higher education
Hospitality & Tourism
Saudi Arabia’s Quality of Life Program creates over 925,000 jobs in tourism in 2023
Program rehabilitated of over 100 heritage sites and museums in 2023
Hospitality & Tourism
Saudi Entertainment Ventures joins Qiddiya to enhance entertainment ecosystem
SEVEN spearheads 21 entertainment projects across 14 cities, with investments exceeding $13.33 billion
Hospitality & Tourism
Saudi Arabia’s Diriyah seeks U.K. partnerships in business, development projects
Diriyah reiterates commitment to expanding its partnership portfolio across various sectors
Logistics
Saudi Arabia plans $100 billion investment to develop aviation sector
Over $50 billion will go to developing the country's airports
Saudi Arabia
Saudi Arabia allocates $2.5 billion to Middle East Green Initiative
Central to Saudi Arabia’s strategy for addressing climate change is the implementation of afforestation programs
Banking & Finance
Saudi Arabia’s Vision 2030 will need around $1 trillion in investments over several years: Report
Non-oil economy will continue to grow with increased government investments in Vision 2030 projects
Saudi Arabia
Saudi Arabia and Japan to collaborate on digital economy growth, technology innovation
Both parties discussed the progress made in various digital projects and joint initiatives under the Saudi and Japanese Vision 2030 frameworks
Economy
Saudi Arabia’s net FDI surges 16 percent to $3.49 billion, supporting non-oil growth
Saudi Arabia aims to attract $100 billion in FDI by 2030
Markets
Bitcoin price slides to $57,103.10 ahead of Fed meeting
Investor sentiment remains cautious ahead of the interest rate decision by the U.S. Federal Reserve
Saudi Arabia
Saudi Arabia’s ACWA Power seeks to invest $10 billion in Malaysia’s renewable energy sector
Collaboration to power up green data centers in Malaysia's industrial parks
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