Saudi

Saudi Launches Tender for 136km Highway Project

Saudi Arabia has officially revealed plans to initiate a tender process for a significant highway project spanning 136 kilometers. The announcement, made by Saudi authorities, underscores the nation’s commitment to advancing its infrastructure. The proposed highway is poised to play a pivotal role in enhancing connectivity and fostering economic development across the region. The highway project, encompassing a substantial distance of 136 kilometers, aims to address the […]

Saudi Tourism Surge: Aiming for 150 Million Visitors by 2030

Saudi Arabia, having welcomed 100 million tourists in 2023, sets ambitious goal for 150 million arrivals before 2030. The nation’s tourism sector gears up for unprecedented growth. As of 2023, Saudi Arabia has emerged as a burgeoning tourist destination, attracting 100 million visitors. This remarkable milestone has sparked discussions and strategic planning within the country’s tourism sector, as authorities now aspire to surpass the 150 million mark […]

Saudi Arabia Launches $100 Million Fund to Boost Local Cinema

Saudi Arabia’s burgeoning cinema industry has reached a milestone with the introduction of a $100 million fund aimed at propelling the nascent sector into new heights.With an injection of SR375 million ($100 million), this fund is designed to stimulate investment in infrastructure projects linked to content production and distribution, symbolizing a significant commitment to fostering local Read the full story on 1arabia.com

Saudi Economic Surge: GDP Nearly Doubles Since 2016

Saudi Arabia’s economy has experienced a remarkable growth, with its Gross Domestic Product (GDP) nearly doubling since 2016. The surge reflects the nation’s dynamic economic landscape, positioning it as a key player on the global stage. The Kingdom’s economic expansion is a testament to strategic reforms and diversification efforts initiated in recent years. From 2016 to the present, Saudi Arabia has seen a substantial increase in economic […]

Saudi Tadawul’s Three-Year Surge Raises Over $100 Billion

Saudi Arabia’s stock exchange, Tadawul, has successfully listed 120 companies in the past three years, resulting in an impressive financial milestone of over $100 billion raised. The Chief Executive Officer (CEO) of Tadawul confirmed this noteworthy achievement, highlighting the exchange’s robust growth and its significant role in the country’s economic landscape. Tadawul’s strategic efforts to attract and facilitate the listing of diverse companies have contributed to the […]

Saudis are well aware oil market is oversupplied

Matein Khalid Saudi Arabia’s unique role in the oil market as Opec’s swing producer, the de facto central bank of oil, owes as much to its spare capacity as it does to its colossal reserves, the world’s lowest drilling cost and the sheer scale of its oil exports. However, the kingdom has also historically not hesitated to cut planned increases in spare capacity, when the Saudi government […]

Saudi Arabia Announces 30-Year Tax Exemption for Global Corporate HQs

Saudi Arabia has revealed a set of guidelines outlining a generous 30-year tax exemption for multinational corporations opting to relocate their headquarters to the Kingdom. The move aims to attract international businesses, fostering economic growth and enhancing the country’s global business landscape. Under the newly introduced framework, multinational companies that choose Saudi Arabia as their primary base will benefit from a three-decade-long tax break. This strategic initiative […]

ROSHN’s Transformation in Saudi Housing Sector

In an exclusive interview, David Grover sheds light on ROSHN’s impactful role in reshaping the Saudi housing landscape. Grover, a key figure in the real estate sector, discusses the revolutionary changes brought about by ROSHN in Saudi Arabia’s housing industry. Grover, a prominent voice in real estate, provides insights into ROSHN’s strategies and their profound effects on the housing sector. The interview delves into the company’s vision, […]

Saudi Arabia Records $22 Billion Budget Shortfall in 2023

Saudi Arabia has reported a budget deficit of $22 billion for the fiscal year 2023, indicating economic challenges for the oil-dependent nation. The announcement came from the Saudi Ministry of Finance, revealing the financial gap as the country grapples with fluctuating oil prices and global economic uncertainties. The budget, a key indicator of the nation’s economic health, underscores the impact of various factors on Saudi Arabia’s fiscal […]

Bühler’s rice processing technology supports customer growth in Saudi Arabia

RIYADH, SAUDI ARABIA – EQS Newswire – 7 February 2024 – Saudi Arabia imports large volumes of unprocessed rice from India and Pakistan every year, with a projected market volume of about USD 3.8 billion in 2023. However, many current customers and new investors in Saudi have recognized the enormous market potential offered by processing the rice in Saudi itself and are seeking to enter the market. […]

High interest rates, tight liquidity weigh on Saudi banks

Arabian Post Staff High interest rates and tight liquidity conditions have weighed on credit growth in Saudi Arabia’s banking sector, although it remained robust at 10% in 2023, S&P said in a report. Also, after strong growth over the past few years, new mortgage lending has slowed somewhat. At the same time, deposits have been lagging lending growth. Saudi banks will likely report strong-but-slower credit growth of […]

Saudi group buys major stake in Dubai Mercantile Exchange

Arabian Post Staff Saudi Tadawul Group Holding Company (STG), a diversified capital markets group in the MENA region, has entered into a binding agreement with the shareholders of DME Holdings Limited to acquire a 32.6% stake in Dubai Mercantile Exchange (DME). As a result, Saudi Tadawul Group will become the joint largest shareholder in DME Holdings Limited alongside CME Group, with other shareholders including the Oman Investment […]

Saudi Price Cuts Unlikely To Dent Indian Demand For Urals

Saudis help increase women employment in travel and tourism

Arabian Post Staff Saudi Arabia has contributed significantly to promoting women employment in the thriving travel and tourism sector in alignment with the Saudi Vision 2030 goals, ensuring the kingdom’s presence in a report on the sector’s soaring employment opportunities to women and young people around the world. According to the report, the female labour force participation in the sector increased by 64% since 2021. The report shows […]

SCG International opens a new office in Saudi, expanding its ‘global connector’ role with resilient supply chain solutions, eyeing new opportunities in the Construction sector driven by Giga-projects

RIYADH, SAUDI ARABIA – Media OutReach Newswire – 21 December 2023 – SCG International is vigorously expanding its business into the market of KSA, an economic powerhouse. Its strategy focuses on comprehensive supply chain solutions with the flexibility to deal with disrupting global supply chains. SCG International is going to have its first office in Riyadh to enlarge business opportunities in the Kingdom of Saudi Arabia (KSA), […]

Top English Academy: A Beacon of Quality English Learning For Aspiring Saudi Students

English proficiency is becoming an invaluable asset among young Saudis hoping to further their career ambitions and access opportunities on the global stage. Given this high demand, quality and affordable English education options are greatly needed locally. Catering to busy Saudi business professionals, Top English Academy’s popular “English for Business Men” course simplifies participating in and leading English-language meetings. As someone who struggled with nerve-wracking video conferences […]

The Top 22 Best Places to Work in Saudi for 2023 revealed

RIYADH, SAUDI ARABIA – Media OutReach Newswire – 14 December 2023 – Roshn, Pfizer, International Maritime Industries, Saudi Esports Federation, Sawani Company, IMC Network Contact Center, Globalpharma, Kinan, Al Ramz , Bidaya Home Finance, Utec, Saudi Air Navigation Services, Hawyia, National Housing Company, Saudi Xerox, Safwacc, National Biscuits Confectionery, Red Sea Markets, Mesccables, Saudi Downtown, Remat, Tanmiah are recognized as the top 22 best places to work […]

Saudi finance minister is new chair of key IMF panel

Arabian Post Staff The members of the , have selected Saudi Arabia’s Minister of Finance Mohammed Aljadaan will be the new Chair of the International Monetary and Financial Committee (IMFC), the policy advisory body of the Board of Governors of the International Monetary Fund (IMF). The term is for three years. Aljadaan will succeed Ms. Nadia Calviño, Spain’s First Vice President and Minister for Economic Affairs and […]

LoveUmrah.com Embraces Saudi Vision 2030: Launches Umrah+ and Anti-Scam Initiatives for Enhanced Pilgrim Experience

LoveUmrah.com announces groundbreaking initiatives in response to Saudi Arabia’s Vision 2030, aiming to enrich the Umrah pilgrimage experience. Canary Wharf, London, United Kingdom – December 12, 2023 /MarketersMEDIA/ — The company introduces Umrah+, an innovative program encouraging pilgrims to extend their spiritual journey with excursions to Saudi’s key tourist attractions. This initiative aligns with the Kingdom’s efforts to diversify its tourism sector. In an innovative response to […]

Digital finance platform expands into UAE, Saudi Arabia

ThunderSub.com, a pioneering platform in digital finance, has announced its expansion into the United Arab Emirates and Saudi Arabia. The launch is spearheaded by Doctor Troller, one of the world’s top NFT artists, known for his disruptive art and remarkable success in the crypto realm.  ​​This launch signifies a new chapter in cryptocurrency transactions, offering a unique blend of luxury, convenience, and security in these vibrant markets, […]

UAE, Saudi Arabia to lead in green bonds issuance

K Raveendran The green, social, sustainable, and sustainable-linked bonds (GSSSB) market–including sustainable sukuk–in the Middle East (GSSSB) is set to expand further, with the UAE and Saudi Arabia likely to remain the leaders, Standard & Poor’s said in a report. The report is timing with the high-profile COP28 meeting in Dubai, which has seen a number of pathbreaking decisions by nations. GSSSB issuance in the Middle East […]

India’s Engineering Exports Surge In US, Saudi Arabia, And UAE In October

NEW DELHI: Exports of engineering products from India witnessed growth from countries such as the US, Saudi Arabia, and the United Arab Emirates (UAE) during October but contracted from several nations in the European Union (EU), China, and Southeast Asia, according to government data. After a slump during the first half of this year, India’s […]

The post India’s Engineering Exports Surge In US, Saudi Arabia, And UAE In October first appeared on Latest India news, analysis and reports on IPA Newspack.

Mubadala, Saudi Fund deals on US radar for potential China angle

K Raveendran The increasing engagement by Gulf countries with China is raising eyebrows in Washington, with reports suggesting indicating that Committee on Foreign Investment in the United States (CFIUS) is reviewing several multibillion-dollar deals entered into by Gulf sovereign wealth funds, particularly the UAE’s Mubadala and the Saudi Public Investment Fund. Bloomberg reported the other day that officials in President Joe Biden’s cabinet are currently reviewing more […]

Saudi Oil Cut Extension Fails To Boost Prices Despite Continuing Gaza Conflict

By K Raveendran A Saudi decision to extend its voluntary oil production cut to the end of the year has passed off as a non-event, with the oil markets shrugging off the decision as of little consequence to the current demand-supply situation in the global market. The kingdom said on Sunday it will continue its […]

The post Saudi Oil Cut Extension Fails To Boost Prices Despite Continuing Gaza Conflict first appeared on Latest India news, analysis and reports on IPA Newspack.

Overshooting Russian Oil Exports May Cause Friction In Saudi-Led Supply Cut Mechanism

By K Raveendran A failure by Russia to fulfil its commitment of 300,000 barrels per day of voluntary cut in crude exports as per the understanding with OPEC is likely to cause friction between Moscow and Saudi Arabia, the prime driver of the cartel’s supply control strategy to shore up crude prices. Any problem in […]

The post Overshooting Russian Oil Exports May Cause Friction In Saudi-Led Supply Cut Mechanism first appeared on Latest India news, analysis and reports on IPA Newspack.

India, Saudi Arabia Discuss Ways To Increase Bilateral Investments

NEW DELHI: Commerce and Industry Minister Piyush Goyal on Tuesday met Saudi Arabia’s Minister of Investment Khalid A Al-Falih, and discussed ways to boost bilateral investments between the two countries in different sectors. Goyal, who is on a two-day visit to Riyadh, also participated in the seventh edition of the Future Investment Initiative (FII) in […]

The post India, Saudi Arabia Discuss Ways To Increase Bilateral Investments first appeared on Latest India news, analysis and reports on IPA Newspack.

Impressive UAE, Saudi show in online F&B sector

Arabian Post Staff E-commerce in the food and beverages sector in the UAE and Saudi Arabia has achieved a standout performance within the retail markets, according to NielsenIQ analysis of the region’s key Fast Moving Consumer Goods (FMCG) data up to the end of August 2023. Despite facing significant price hikes averaging 3% and 5%, respectively, over the past three months, both countries have again recorded strong […]

ICESCO grants EAD’s Secretary General Kingdom of Saudi Arabia Award for Environmental Management in Islamic World

Saudi Arabia leads in region’s real estate project values

Arabian Post Staff Defying global economic challenges, the Middle East and North Africa (MENA) region’s construction sector continued to demonstrate strong performance with a total of $101 billion worth of projects awarded in the first half of the year, reveals JLL’s latest Construction Market Intelligence report, which is based on insights gathered from industry sources and experts. The largest share of the project value, approximately 67%, came […]

UAE Rulers condole with Saudi King over passing of Prince Mohammed bin Saad Al Saud