| Saudi Arabia seeing steady growth in non-oil economy says economy minister
Saudi Arabia is seeing steady growth in the non-oil economy, said Saudi Minister of Economy and Planning Faisal Alibrahim in Davos on Friday. |
|
| Saudi Arabia, UAE poised to become trade ‘super-connector hubs,’ WEF panel hears
Saudi Arabia is on track to emerge as a “super-connector hub,” leveraging ongoing global trade disruption to its advantage, according to experts speaking at the World Economic Forum in Davos on Thursday. |
|
| Kingdom’s digital ‘leapfrog’: Intel executive VP highlights 20-year Saudi partnership
Saudi Arabia’s Vision 2030 has enabled the Kingdom to “leapfrog other countries,” creating a robust ecosystem that aligns with Intel’s digital transformation strategy, the company’s executive vice president and chief commercial officer told Arab News. |
|
| Closing Bell: Saudi main index slips to close at 12,354
Saudi Arabia’s Tadawul All Share Index slipped on Thursday, losing 8.35 points, or 0.07 percent, to close at 12,354.04. |
|
| Saudi crude output up 1.21% to hit 8.92m bpd: JODI
Saudi Arabia’s crude oil production rose to 8.92 million barrels per day in November, a 1.21 percent annual increase according to the latest release from the Joint Organizations Data Initiative. |
|
| PIF to sell Thiqah to Elm in $907m deal to strengthen Saudi Arabia’s ICT sector
Saudi digital solutions company Elm has agreed to acquire Thiqah Business Services Co., owned by the Public Investment Fund, in a deal valued at $907 million to boost the information and communications technology sector. |
|
| Closing Bell: Saudi Arabia’s main market dips slightly to 12,362
Saudi Arabia’s Tadawul All Share Index was steady on Wednesday, as it marginally shed 7.21 points or 0.06 percent to close at 12,362.39. |
|
| Oman’s Asyad Group plans to sell at least 20% of shipping unit via IPO
Oman’s state-owned logistics firm Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering, it said on Wednesday, as part of the Gulf country’s privatization drive. |
|
| Saudi Vision 2030 spurring growth across the real estate sector, says industry leader at Davos
Saudi Arabia’s real estate sector is undergoing a transformation that ranges from affordable housing to luxury living under the Kingdom’s Vision 2030 reform agenda, according to the chairman of Saudi company Dar Al Arkan. |
|
| Saudi Arabia, Palestine to boost trade with formation of new business council
Saudi Arabia and Palestine have agreed to form a business council to boost bilateral trade and promote investments between both nations. |
|
| Saudi Arabia qualifies 6 mining firms for Exploration Enablement Program
Saudi Arabia has chosen six local and international mining companies for its Exploration Enablement Program designed to boost investments and enhance the competitiveness of the sector. |
|
| Saudi Arabia raises $990m in sukuk issuances for January
Saudi Arabia’s National Debt Management Center has completed its riyal-denominated sukuk issuance for January, raising SR3.72 billion ($990 million). |
|
| Saudi economy minister speaks on global growth, US economic policies, Vision 2030
Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim on Tuesday said the Kingdom would continue to assess shifting US economic policies as it eyes more integration to help protect global trade. |
|
| Saudi reserves at central bank grow to $450bn
Saudi Arabia’s reserves at the Kingdom’s central bank saw a 2.8 percent year-on-year rise to SR1.69 trillion ($450.31 billion) in November. |
|
| Saudi agritech firm closes $2.55m in seed funding round
Saudi Arabia’s hydroponic farming sector is poised for a boost, as the Kingdom-based agritech startup Arable announces the successful closure of a $2.55 million seed funding round, led by undisclosed investors. |
|
| ESG sukuk set to cross $50bn in 2025: Fitch Ratings
The global issuance of environmental, social, and governance sukuk is expected to surpass $50 billion outstanding in 2025, driven by Islamic finance markets in countries including Saudi Arabia, according to an analysis. |
|
| Amman Stock Exchange eyes market boost with bond trading, tax reforms, and state firm listings
Jordan’s financial market is set for transformation, with key changes, including introducing government bond trading on the Amman Stock Exchange, revisiting taxes, and listing state-owned companies. |
|
| Saudi EXIM Bank signs $15m deal with Pakistan’s Bank Alfalah to boost trade
The Saudi Export-Import Bank and Pakistan’s Bank Alfalah have inked a $15 million financing agreement, designed to enhance Kingdom’s exporters access to Pakistani markets and foster stronger trade and economic ties. |
|
| Saudi banking sector poised for stability with 10% lending growth: S&P Global
Saudi Arabia’s banking sector is set to maintain profitability this year, with lending projected to grow by 10 percent, driven by corporate loans linked to Vision 2030 projects, according to a new analysis. |
|
| Closing Bell: Saudi main index closes in the green, reaches 12,379
Saudi Arabia’s Tadawul All Share Index edged higher on Monday, rising by 47.67 points, or 0.39 percent, to close at 12,379.54. |
|
| UAE’s money supply M1 increases 1.5% to $247.7bn
The UAE’s M1 money supply saw a monthly rise of 1.5 percent at the end of October, reaching 909.9 billion dirhams ($247.7 billion), according to the latest figures released by the country’s central bank. |
|
| Kuwait’s CPI rises 2.5% in December amid inflationary pressures
Kuwait’s Consumer Price Index climbed 2.5 percent year on year in December, reaching 135.2, fueled by higher costs across miscellaneous goods and services, food and beverages, and clothing and footwear. |
|
| Saudi rent now, pay later firm Rize closes $35m in equity and debt funding
Saudi real estate technology company Rize has closed an SR132 million ($35 million) “Series A” funding round to expand its presence beyond the nation’s capital. |
|
| Saudi Arabia tops GCC IPO market in 2024, raising $4.1bn across 42 offerings: Markaz
Saudi Arabia strengthened its role in the Gulf Cooperation Council’s initial public offering market in 2024, raising $4.1 billion through 42 listings, the highest number in the region. |
|
| Saudi Arabia’s real estate price index rises 3.6% in Q4, 2024: GASTAT
Saudi Arabia’s property sector maintained its growth trajectory in the fourth quarter of 2024, with the Kingdom’s real estate price index increasing by 3.6 percent year on year, official data showed. |
|
| Saudi Arabia’s holdings in US treasuries at $135.6bn in November
Saudi Arabia’s holdings in US treasuries reached $135.6 billion by the end of November, representing a marginal decline of 2.58 percent compared to October, official data showed. |
|
| Kuwait’s non-oil exports hit $75m in December 2024
Kuwait’s non-oil exports rose to 23.2 million dinars ($74.9 million) in December 2024, a 12.08 percent increase from November, according to data from the Ministry of Commerce and Industry. |
|
| GCC ports rank among world’s top 70 for efficiency in 2024
Ports in the Gulf Cooperation Council have earned global recognition, with 10 container terminals ranking among the 70 most efficient worldwide in 2024, according to newly released data. |
|
| IMF projects Saudi economy to grow 3.3% in 2025, 4.1% in 2026 amid global shifts
Saudi Arabia’s economy is projected to grow by 3.3 percent in 2025 and 4.1 percent in 2026, according to the latest forecasts from the International Monetary Fund. |
|
| Closing Bell: Saudi main index rises to close at 12,331
Saudi Arabia’s Tadawul All Share Index rose on Sunday, gaining 75.81 points, or 0.62 percent, to close at 12,331.87. |
|
| Saudi Arabia to showcase $100bn aviation investment opportunities at WEF
Saudi Arabia’s General Authority of Civil Aviation is set to present over $100 billion in investment opportunities at the World Economic Forum in Davos, taking place from Jan. 20 to 24. |
|
| Nuclear power industry needs $120bn a year by 2030
Nuclear energy development funding needs to double to $120 billion a year by 2030 to meet the rising demand for infrastructure development, according to an analysis. |
|
| Domestic demand propels Saudi cement sales up 12 percent
Cement sales in Saudi Arabia saw an annual increase of 12.33 percent in the fourth quarter of 2024, reaching 14.87 million tonnes, according to recent data. |
|
| Kuwaiti seeks to boost ties with Italy’s Lombardy
The Consul General of Kuwait in Milan Sheikh Jaber Duaij Al-Malek Al-Sabah met on Thursday with the President of Lombardy Regional Government Attilio Fontana to discuss ways to enhance trade and cultural exchange and support joint investments. |
|
| Saudi Ma’aden awards $921m contracts for its 3rd phosphate fertilizer plant
Saudi Arabian Mining Co. has awarded three contracts worth SR3.45 billion ($921.58 million) for its third phosphate fertilizer plant, reinforcing the Kingdom’s position in the global market. |
|
| MENA economic growth to accelerate to 2.9% in 2025, says Moody’s
Oil production and large investment projects will accelerate annual economic growth across the Middle East and North Africa by 0.8 percentage points in 2025, according to Moody’s. |
|
| Saudi corporate lending sees highest growth in 2 years as bank loans reach $782bn
Saudi Arabia’s bank loans surged to SR2.93 trillion ($782 billion) in November, marking a 13.33 percent year-on-year increase — the highest growth rate in 22 months. |
|
| Saudi ports handle 320.78m tonnes of cargo in 2024, up 14.45% year on year
Saudi Arabia’s ports saw a significant surge in cargo handling in 2024, with a total of 320.78 million tonnes of goods processed, representing a 14.45 percent year-on-year increase. This growth underscores the enhanced operational efficiency of the Kingdom’s maritime infrastructure. |
|
| Australian-Saudi Business Council hosts joint forum to help boost trade
The Australian-Saudi Business Council hosted a joint forum on Thursday to discuss the enhancement of collaboration and trade between the two countries. |
|
| Closing Bell: Saudi main index rises to close at 12,256
Saudi Arabia’s Tadawul All Share Index rose on Thursday, gaining 43.82 points, or 0.36 percent, to close at 12,256.06. |
|
| Saudi Arabia to invest $32m in mining incentives to drive industry expansion
Saudi Arabia is poised to invest SR120 million ($32 million) this year in mining incentives aimed at supporting companies with the right technical expertise, the country’s deputy minister announced. |
|
| Saudi Exchange launches framework for fixed income market making
Saudi Arabia’s stock exchange has announced the launch of its Fixed Income Market Making Framework to ensure the availability of secondary market liquidity. |
|
| Kuwait Ports Authority to enter world of smart ports
Sheikh Khaled Salem Abdulaziz Al-Sabah, Director General of Kuwait Ports Authority, stated that the authority is preparing to enter the realm of smart ports, with the goal of improving its position in the port management and operations sector. |
|
| Saudi Arabia unveils major gold, copper discoveries in Arabian Shield
Saudi Arabia has announced significant gold and copper discoveries in the Arabian Shield region, a move set to bolster its global mining ambitions and strengthen the country’s economic diversification efforts. |
|
| Closing Bell: Saudi main index closes in green at 12,212
Saudi Arabia’s Tadawul All Share Index rose on Wednesday, gaining 39.49 points, or 0.32 percent, to close at 12,212.24. |
|
| Saudi Arabia, Australia set to enhance mining ties, says business council head
Saudi Arabia and Australia are poised to enhance cooperation in the mining sector with the launch of an inaugural bilateral forum this year, a senior official has announced. |
|
| Taxes will target commodities harmful to human health: Kuwait's Finance Minister
Minister of Finance, Minister of State for Economic Affairs and Investments Nora Al-Fassam said her department is preparing the selective taxation law targeting commodities harmful to human health, with projections the levies would reap KD 200 million ($648.3 million) per year. |
|
| Horeca Kuwait offers new opportunities for diversifying economy
The 13th edition of the Horeca Kuwait Exhibition opened Tuesday under the patronage of the Minister of Information, Culture, and Minister of State for Youth Affairs Abdulrahman Al-Mutairi. Organized by Leaders Group for Consulting and Development at the Kuwait International Fairgrounds, the event brings together hundreds of local and international experts in the hospitality and tourism sectors. |
|
| Preliminary data show Kuwait GDP fell in Q3 2024, but historical figures revised stronger
Preliminary Central Statistical Bureau (CSB) estimates show non-oil GDP in Q3 2024 declined by 2.5 percent y/y after a solid H1 and driven by contractions in manufacturing and public administration and defense output. |
|
| Global sukuk issuance set to reach $200bn in 2025: S&P Global
Global sukuk issuance is projected to hit between $190 billion and $200 billion in 2025, driven by increased activity in key markets such as Saudi Arabia and Indonesia, according to a recent analysis from S&P Global. |