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Saudi Arabia
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
Economy
Saudi Arabia’s unemployment rate stabilizes at 3.5 percent in Q1: GASTAT
The unemployment rate for Saudi females rose to 14.2 percent in Q1 2024, up from 13.9 percent in the previous quarter
Logistics
Saudi non-oil exports to China exceed $46.9 billion over past 5 years
This highlights the strong economic and trade relationship between Saudi Arabia and China
Markets
Saudi Arabia’s capital market raises $8 billion from 70 sukuk, debt instrument listings in 2023: Report
Saudi Arabia saw record high net foreign investments, which rose 7.7 percent annually to $52.78 billion in 2023
Saudi Arabia
Saudi Arabia, U.K. explore opportunities in sustainable city development, green energy
Saudi Arabia's Ambassador to the U.K. highlighs the growth of debt markets and insurance companies across the Kingdom
Logistics
Saudia among top airlines globally for on-time arrival, departure
King Khalid International Airport ranked first globally with an on-time performance of 88.23 percent
Economy
Riyadh among top 5 startup ecosystems in MENA region: Report
Riyadh is among the top emerging ecosystems globally with four unicorns in the last 10 years
Saudi Arabia
Saudi Arabia ranks 1st globally in cybersecurity on 2024 World Competitiveness Yearbook
Kingdom also secured top spot in areas like long-term employment growth, social cohesion and long-term labor market growth
Economy
Saudi Arabia’s international reserves reach $467.5 billion in May, highest in 18 months
International currency holdings amounted to SAR1.66 trillion, up 6 percent during this period
Banking & Finance
Beyond payments: How Mastercard is fueling transformation and driving inclusion
Great strides have been made in advancing digital transformation and building a robust payment ecosystem across the region
Hospitality & Tourism
Localization rates for jobs in Makkah’s tourism sector reach 40 percent
The number of Saudi women working in the sector saw a 37 percent increase in 2024 so far
Industry
Saudi Arabia’s industrial production rises 1.1 percent in April on manufacturing surge: Report
Saudi Arabia sees 7.7 percent annual surge in manufacturing activity in April 2024
Hospitality & Tourism
Saudi Arabia’s tourism sector contributing record $118.4 billion to GDP: Report
The Kingdom’s travel and tourism sector grew by over 32 percent in 2023
Economy
Saudi Arabia’s GDP grows 1.4 percent in Q1 2024, non-oil activities up by 3.4 percent YoY: GASTAT
Non-oil activities also rose by 0.9 percent in the first three months of 2024 compared to the previous quarter
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