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Saudi Arabia and Egypt are joining forces in a substantial real estate investment endeavor, pooling resources to embark on projects valued at $1 billion. The collaboration, aimed at fostering economic growth and strengthening bilateral ties, signifies a strategic partnership between the two nations. This initiative, disclosed after high-level discussions between Saudi and Egyptian officials, underlines the commitment to enhance economic cooperation. The substantial investment will primarily focus […]

Leading financial experts at the Riyadh Forum conveyed a sense of genuine excitement among global investors regarding the Saudi capital market. The consensus emerged during discussions at the forum, indicating a positive outlook and heightened interest in investment opportunities within Saudi Arabia. The forum, a prominent gathering of financial minds, featured insightful dialogues on the economic landscape. Experts highlighted the increasing appeal of the Saudi capital market, […]

Riyadh: In a revelation from Richard Cormack, Co-Head of Equity Capital Markets EMEA, Co-Head of UK Investment Banking at Goldman Sachs, the MENA region is anticipated to represent 10% of MSCI EM. Notably, Saudi Arabia is projected to make up a substantial 70% share of this, marking a significant development in the financial landscape.Cormack, speaking at the third Edition of the Saudi Capital Read the full story […]

Riyadh: Alat, a pioneering company spearheading global industry transformation, has unveiled four major partnerships with renowned technology giants Softbank Group, Carrier Corporation, Dahua Technology, and Tahakom. As a subsidiary of the Public Investment Fund (PIF), Alat is set to propel Saudi Arabia into a world-class manufacturing hub by fostering sustainable practices, aiding partner Read the full story on 1arabia.com

King Saud University (KSU) in Riyadh has secured a place in the Guinness World Records as the largest dental hospital globally, spanning an expansive 37,165 square meters. This accomplishment underscores the university’s dedication to healthcare services, medical education, training initiatives, and scientific research, aligning with the objectives outlined in Saudi Vision 2030.KSU’s medical city Read the full story on 1arabia.com

Dubai– The Middle East and North Africa (MENA) region have asserted their presence in the global retail scene, with Saudi Arabia making a significant leap in the latest Global Retail Development Index (GRDI) released by Kearney. The bi-yearly survey, evaluating promising retail markets worldwide, places the MENA region in the spotlight for its remarkable retail resilience, underscoring Saudi Read the full story on 1arabia.com

Aerial images have emerged, unveiling the vast extent of Saudi Arabia’s ambitious £800 billion project, ‘The Line.’ The photos showcase the magnitude of this undertaking, offering a glimpse into the transformative endeavor set to reshape the nation’s landscape. Captured from above, the visuals depict the extensive infrastructural development that is part of ‘The Line,’ a project designed to create a futuristic city spanning 170 kilometers in length. […]

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Saudi Arabia has issued a stern warning regarding Value Added Tax (VAT) compliance, emphasizing the necessity for businesses and individuals to adhere to the regulations. The General Authority of Zakat and Tax (GAZT) has underscored the importance of timely and accurate VAT filings to avoid penalties and legal repercussions. The GAZT, responsible for overseeing tax-related matters in the Kingdom, highlighted the obligation of all taxable entities to […]

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 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’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 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 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 […]

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 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 […]

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, […]

Global logistics leader Four Winds has revealed groundbreaking solutions in Saudi Arabia and Jordan, addressing the escalating crisis in the Red Sea region. The strategic move aims to enhance supply chain efficiency and mitigate the challenges posed by the ongoing crisis. In response to the mounting concerns surrounding the Red Sea, Four Winds has introduced cutting-edge logistics solutions to optimize transportation and distribution networks. The initiative is […]

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 […]

RIYADH, SAUDI ARABIA – Media OutReach Newswire – 14 February 2024 – T Riyadh, Saudi Arabia Sahm Capital Financial Company (previously known as VCFC), a leading brokerage firm licensed by Saudi Capital Market Authority (22251-25), has announced its sponsorship of the Saudi Capital Market Forum (SCMF). As a pivotal event in the financial calendar, SCMF serves as a vibrant festival that brings together the world’s leading financial […]

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. […]

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 […]

NEW DELHI: India’s import of crude oil reached a multi-year high of 4.9 million barrels a day in January and increased 13% from December 2023, according to data from energy cargo tracker Vortexa. Indian refiners cumulatively had imported 4.3 million barrels a day in December. The country imported 1.20 million barrels a day of Russian […]

The post Iraq Oil Supplies To India Surge first appeared on Latest India news, analysis and reports on IPA Newspack.

The crude oil market share of the Organization of Petroleum Exporting Countries (OPEC) has been declining since the cartel  came out with its Declaration of Cooperation (DoC). The share is under increasing threat from non-OPEC+ countries, analysts say. According to research agency BMI, a unit of Fitch Solutions, propping up Brent through DoC has come […]

The post OPEC Losing Crude Oil Market Share As It Cuts Output To Lift Prices first appeared on Latest India news, analysis and reports on IPA Newspack.

NEW DELHI: The Ministry of Electronics and IT (Meity) will seek cabinet approval for the India AI program, which includes the setting up of GPU-based servers in public-private partnership mode with an outlay of over Rs 10,000 crore, Minister of Electronics and IT Rajeev Chandrasekhar said on Tuesday. Working groups formed by the government on […]

The post MeitY To Seek Cabinet Nod For India AI Programme Entailing Rs 10,000 Crore Investments: MoS IT first appeared on Latest India news, analysis and reports on IPA Newspack.

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