Saudi Arabia

Saudi Arabia’s FDI balance rises 6.1 percent to $217.88 billion in Q1 2024: Report

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

Oil demand forecast to reach over 106 million barrels per day in H2 2024, says Aramco chief

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

Oracle bolsters Saudi Arabia’s AI economy with second public cloud region in Riyadh

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

Saudia launches four weekly flights to Medan, Indonesia starting August 31

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

Saudi Arabia’s non-oil merchandise exports to GCC hit $2.9 billion in May

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

Saudi Arabia’s PIF strengthens ties with China through $50 billion deals to boost bilateral capital flows

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

Saudi Arabia’s MODON secures 9 deals worth $266.47 million to develop industrial cities

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

Saudi Arabia’s residential real estate prices rise 2.8 percent in Q2 2024

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

NEOM’s social responsibility programs benefit 50,000 people: Report

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

Saudi Arabia positions Jeddah Islamic Port as central metals distribution hub with London Metal Exchange listing

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

Saudi Arabia confident in 2034 World Cup bid, featuring rising football stars

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’s data and AI authority launches data center expansion projects in Riyadh

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

Saudi Arabia’s Dammam port sees 37.4 percent container handling growth, manages 1.53 million units in H1 2024

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

Saudi Arabia’s NEOM completes mega infrastructure project phases ahead of schedule

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

Saudi Arabia’s Diriyah secures $2.13 billion contract to build four luxury hotels, equestrian club in Wadi Safar

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

Saudi Arabia’s POS transactions surge to $2.9 billion amid rise in education spending

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

Saudi Arabia dominates GCC bond market in H1 2024 with $37 billion in issuances

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

Saudi Arabia’s flynas announces new weekly flights to Manama, Doha starting September

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

Saudia signs $450 million deal with Germany’s Lilium for 50 electric flying taxis

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

Saudi Aramco raises $6 billion in high-demand bond offering, attracting $33 billion in orders

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

Saudi Arabia’s tourism sector sees robust growth in H1, hitting $40 billion in visitor spending

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

Saudi Arabia’s crude oil exports rise 2.51 percent to 6.12 million barrels per day: Official data

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

Riyadh ranks among 15 fastest-growing cities in the world by 2033: Report

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

Saudi Arabia wins presidency of Arab Civil Aviation Organization executive council

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