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Saudi Arabia
Banking & Finance
Saudi Arabia’s FDI balance rises 6.1 percent to $217.88 billion in Q1 2024: Report
Saudi Arabia's total fixed capital formation grew 8 percent during Q1 of 2024
Energy
Oil demand forecast to reach over 106 million barrels per day in H2 2024, says Aramco chief
Nasser foresees resilient oil fundamentals despite price decline, sees demand growth of 1.6-2 million bpd
Saudi Arabia
Oracle bolsters Saudi Arabia’s AI economy with second public cloud region in Riyadh
New region will help boost the Kingdom’s AI economy, which is expected to reach $135.2 billion by 2030
Logistics
Saudia launches four weekly flights to Medan, Indonesia starting August 31
Expansion supports objectives of Saudi Vision 2030, which aims to host 30 million Umrah pilgrims by 2030
Logistics
Saudi Arabia’s non-oil merchandise exports to GCC hit $2.9 billion in May
UAE remained Saudi Arabia’s largest non-oil trading partner within the GCC region
Banking & Finance
Saudi Arabia’s PIF strengthens ties with China through $50 billion deals to boost bilateral capital flows
The agreements involve Chinese banks and focus on two-way capital flows through debt and equity
Industry
Saudi Arabia’s MODON secures 9 deals worth $266.47 million to develop industrial cities
The projects include infrastructure development for the third industrial city in Jeddah and the second industrial city in Makkah
Real Estate
Saudi Arabia’s residential real estate prices rise 2.8 percent in Q2 2024
Apartment prices in Saudi Arabia increased by 2.9 percent while villa prices declined by 0.5 percent
Miscellaneous
NEOM’s social responsibility programs benefit 50,000 people: Report
The mega-project awarded 26 projects to companies in Tabuk, helping 583 people secure employment
Logistics
Saudi Arabia positions Jeddah Islamic Port as central metals distribution hub with London Metal Exchange listing
This development underscores the port's crucial role in facilitating global trade
Miscellaneous
Saudi Arabia confident in 2034 World Cup bid, featuring rising football stars
The bid reflects Kingdom’s efforts to achieve the sports goals of Vision 2030
Saudi Arabia
Saudi Arabia’s data and AI authority launches data center expansion projects in Riyadh
The value of the Kingdom's data and AI economy is currently at around $4-5 billion
Logistics
Saudi Arabia’s Dammam port sees 37.4 percent container handling growth, manages 1.53 million units in H1 2024
Transshipment containers also surged by 87.87 percent to 37,806 units from 20,124 in 2023
Hospitality & Tourism
Saudi Arabia’s NEOM completes mega infrastructure project phases ahead of schedule
Projects boost NEOM's commitment to leading-edge sustainable transportation solutions
Real Estate
Saudi Arabia’s Diriyah secures $2.13 billion contract to build four luxury hotels, equestrian club in Wadi Safar
The contract has been awarded to a joint venture of two Saudi construction firms, Urbacon and Al Bawani
Banking & Finance
Saudi Arabia’s POS transactions surge to $2.9 billion amid rise in education spending
Hotel spending also increased, rising by 0.2 percent compared to the previous week to reach SAR270.2 million
Markets
Saudi Arabia dominates GCC bond market in H1 2024 with $37 billion in issuances
GCC fixed income markets saw $75.5 billion in primary issuances during this period
Logistics
Saudi Arabia’s flynas announces new weekly flights to Manama, Doha starting September
Airline will operate three weekly flights between Madinah airport and Bahrain International Airport in Manama as of September 10
Logistics
Saudia signs $450 million deal with Germany’s Lilium for 50 electric flying taxis
Lilium expects to deliver the first jets to Saudia in 2026
Energy
Saudi Aramco raises $6 billion in high-demand bond offering, attracting $33 billion in orders
The issuance consists of three tranches of dollar-denominated senior unsecured notes under Aramco's global debt program
Hospitality & Tourism
Saudi Arabia’s tourism sector sees robust growth in H1, hitting $40 billion in visitor spending
Saudi Arabia achieved 60 million visits during the first half of 2024
Energy
Saudi Arabia’s crude oil exports rise 2.51 percent to 6.12 million barrels per day: Official data
Crude oil production increased to 8.99 million bpd, reflecting a monthly rise of 0.08 percent
Economy
Riyadh ranks among 15 fastest-growing cities in the world by 2033: Report
Riyadh's population to grow from 5.9 million to 9.2 million in 10 years
Logistics
Saudi Arabia wins presidency of Arab Civil Aviation Organization executive council
Saudi Arabia supports the organization's 'No Country Left Behind' initiative with $1 million of funding
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