Category: Economy

Saudi Ministry of Commerce warns business owners that establishment bank accounts must be used solely for commercial activities, emphasizing accountability and monitoring.

Eastern Region Municipality showcases over 700 investment opportunities across 18 sectors at the Women’s Economic Forum 2026, empowering female entrepreneurs in Saudi Arabia.

Qassim farmers begin winter preparations, readying farmland and expanding vegetable cultivation to boost local production, food security and Vision 2030 goals.

The Women’s Economic Forum 2026 in Dammam highlighted Saudi women’s leadership in AI, innovation, and economic sustainability, aligning with Vision 2030 goals.

Sales at the Dhariyah Camel Festival in Qassim Region exceeded SAR8 million in seven days, reflecting strong auction activity and boosting the local economy.

Oil prices fell to a four-week low Tuesday, with Brent crude settling at $103.60 a barrel and WTI at $96.09, reported via official Saudi channels.

Gold futures fell 0.70% to $3,942 per ounce as US midterm elections and Iran war diplomacy shaped markets, with silver down 2.24% and the dollar index rising.

Tabuk Chamber meets Indonesian Consul General to boost trade and investment cooperation, exploring partnerships and economic ties in line with Saudi Vision 2030.

Saudi Arabia’s FDI inflows surged 33.5% to SAR159 billion in 2025, with FDI stock surpassing SAR1 trillion, reflecting Vision 2030 progress and investor confidence.

Remat Al-Riyadh announces a 50-year public-private partnership to operate Riyadh’s parking system, integrating with the Riyadh Parking app and supporting Vision 2030.

Riyadh Region Municipality and partners launch first joint land investment project in Al-Narjis district, inviting private sector proposals for a 50-year mixed-use development.

Baljurashi launches initiative to rehabilitate abandoned farms, boosting food security and sustainable agriculture in line with Saudi Vision 2030.

Saudi Arabia concludes participation in 42nd COMCEC Ministerial Session in Türkiye, advancing trade financing, economic cooperation, and Vision 2030 goals.

Recent rainfall in Jazan Region renews pastures, boosting honey production with rich plant diversity. Over 3,000 beekeepers benefit from abundant nectar sources.

Najran Region produces over 40,000 tons of dates annually. Al-Bayadh dates, prized for quality and nutrition, support food security and Vision 2030 goals.

Governor of Eastern Region Prince Saud bin Naif bin Abdulaziz will patronize the Women’s Economic Forum 2026 in Dammam, focusing on women’s economic impact.

Saudi Ministry of Commerce reports 32-52% growth in tourism registrations, with tourist lodges up 52% to 18,115 by Q3 2026, driving Vision 2030 economic diversification.

PIF raises $3 billion in SACE-backed credit facilities to boost trade and cooperation with Italian businesses, advancing Vision 2030 and green finance goals.

US dollar drops 0.38% as oil prices fall and markets rise before US midterms, labor reports, and central bank decisions. Saudi Arabia remains stable.

Oil prices fell over 7% on Monday, with Brent at $104.77 and WTI at $96.46, per Saudi Press Agency. Explore implications for Saudi Arabia’s Vision 2030.

The GCC has opened an anti-dumping investigation into uncoated paper imports from India, China, and Thailand, reinforcing fair trade and Vision 2030 goals.

The Home and Family Exhibition in Makkah offers small businesses a platform to showcase products, test markets, and grow without long-term costs, aligning with Saudi Vision 2030.

GCC POWER 2026 Conference & Exhibition opens in Muscat, Oman, bringing together 40+ speakers from 15 countries to discuss energy transition and grid innovation.

The Council of Economic and Development Affairs reviews Saudi Arabia’s economic resilience, health transformation, and Vision 2030 progress in a video conference meeting.

Saudi Post issues SAR3 commemorative stamp with SAMA to mark the launch of the Saudi Riyal symbol, celebrating financial sovereignty and Vision 2030 progress.

Guinea opens its first gold refinery in Conakry, aiming to refine 30% of its gold production and capture more value from its mineral resources.

Qassim Region emerges as a leading hub for caravan manufacturing, offering diverse designs and supporting Saudi Arabia’s Vision 2030 goals.

Seven OPEC+ countries, including Saudi Arabia, reaffirm commitment to oil market stability by maintaining production levels for December 2026, supporting Vision 2030.

The Made in Saudi program launches its Saudi Market initiative in Jordan, featuring over 20 Saudi companies to boost non-oil exports and global reach.

The home and family exhibition opens in Makkah for 12 days, stimulating economic activity and showcasing products for households and families.

The inaugural International Gifts and Products Exhibition concluded in Jeddah after 15 days, showcasing products from Arab, Asian, and African countries and supporting Saudi Vision 2030.

Haramain High Speed Railway drives investment opportunities in Madinah, says Al Madinah Chamber bulletin. Transport, tourism, hospitality, and logistics sectors poised for growth.

Saudi Arabia participates in the 42nd COMCEC Ministerial Session in Istanbul, focusing on trade financing and export growth among OIC member states.

The first International Gifts and Products Exhibition in Jeddah draws shoppers with goods from around the world, boosting retail and investment opportunities.

IsDB Chairman Dr. Muhammad Al Jasser and AfDB President Dr. Sidi Ould Tah met in Jeddah to discuss co-financing progress under their $4 billion framework for Africa.

GASTAT reports Saudi business sector operating revenues rose 2.3% in 2025 to SAR5.628 billion, with employee compensation up 6.0% to SAR624.1 billion.

Saudi Arabia’s Commercial Transactions Law complements the Civil Transactions Law to enhance contractual stability, enforceability, and protection of commercial practices.

AlUla’s date harvest nears its end as the AlUla Date Auction runs on weekends until November 15, with 4.2 million palm trees producing 130,000 tons annually.

Oil prices declined on October 29, 2026, with Brent falling 0.7% to $114.50 and WTI dropping 1% to $101.74 per barrel, per the Saudi Press Agency.

Spot gold fell 0.7% to $4,039.26 per ounce as the dollar strengthened following the Federal Reserve’s decision to keep interest rates unchanged, SPA reports.

Mexico and India have launched negotiations for a preferential trade agreement to expand trade, boost investment, and build resilient, diversified supply chains.

Gold prices fell 0.5% to $4,039.39 per ounce as higher oil prices weighed on precious metals, with silver, platinum and palladium also declining, per SPA data.

Brent crude settled at $115.32 and WTI at $102.78 as oil prices rose around 1% at settlement amid Middle East tensions, per the Saudi Press Agency.

Saudi Arabia Railways avoided over 364,800 tons of CO2 emissions and saved 139.4 million liters of fuel in 2025, advancing Vision 2030 sustainable transport goals.

Jazan City for Primary and Downstream Industries deploys AI, BIM, and OpenSpace to manage projects and monitor implementation, advancing Vision 2030 industrial goals.

FII PRIORITY Compass survey of 61,200 adults reveals cost of living remains top global concern for fifth year, with financial pressures hindering family aspirations.

Qassim’s flower trade flourishes as the Unaizah Flowers Festival showcases over 600,000 blooms, creating new business opportunities for small enterprises and aligning with Vision 2030.

The Islamic Development Bank Institute delivered three specialized programs to more than 60 senior Central Bank of Libya professionals to strengthen Islamic finance.

Peru’s exports are projected to surpass $110.794 billion by the end of 2026, a 21.16% increase driven by the mining sector, according to the Lima Chamber of Commerce.

Tabuk Region recorded 40,751 active commercial registrations as of October 2026, led by wholesale and retail trade, construction, and food services.

Saudi Ministry of Industry and Mineral Resources issued 58,000 certificates of origin in September, streamlining export documentation for businesses and individuals.

SESRIC and UNCTAD convened a regional seminar in Doha to strengthen foreign direct investment statistics across OIC member states, advancing data-driven policy.

REGA participates in the Qatar Real Estate Forum to showcase Saudi Arabia’s integrated real estate ecosystem, regulatory reforms, and Vision 2030 alignment.

The Global Labor Market Academy’s second cohort begins training in Paris with 31 specialists from 27 countries, building on Saudi Arabia’s Riyadh phase.

The International Islamic Trade Finance Corporation surpasses $100 billion in trade finance approvals since 2008, boosting development across member countries.

Saudi Arabia’s TGA reports over 54 million parcels delivered in Q3 2026, with Ajex recording the fewest escalated complaints in the official quarterly bulletin.

The IMF affirms Saudi Arabia’s leading position in data center numbers among GCC countries and praises the Personal Data Protection Law.

Gold prices edged lower in early Asian trading as a stronger US dollar pressured the metal, with investors awaiting the Federal Reserve’s policy meeting this week.

AAA data shows US regular gasoline at $3.472 and diesel at $4.343 per gallon, with diesel hitting a record $6.523 on September 22, ahead of November 3 midterms.

Al Madinah Al Munawarah Chamber and Monsha’at held a training program to help entrepreneurs and SMEs tap e-commerce opportunities in promising sectors, supporting Vision 2030.

Brent crude settled at $115.81 and WTI at $101.76 on Monday, a modest decline after strong weekly gains, reflecting stable oil markets and Saudi Arabia’s balancing role.

Rijal Almaa honey auction offers over 480 kg of premium honey, strengthening marketing channels, supporting beekeepers, and advancing Saudi Vision 2030 goals.

GCC Secretary-General Jasem Albudaiwi underscores GCC-ASEAN economic integration as a strategic pillar for investment flows, highlighting $2.4 trillion GDP and FTA talks.

Saudi Arabia and Singapore announce joint intent to establish crude oil storage in Singapore, enhancing energy security and strengthening bilateral ties.

Saudi Reef program reports over 100% growth in fruit, coffee, and honey production in 2026, advancing food security and Vision 2030 goals.

Qassim’s date harvest is being processed into syrup and other products, extending the crop’s value beyond the picking season and supporting Saudi food industry growth.

GCC Secretary-General Jasem Albudaiwi met China’s Li Chenggang in Doha to review progress on a GCC-China Free Trade Agreement and deepen commercial ties.

Saudi Maritime and Logistics Congress 2026 in Jeddah concludes with over 34,000 registrants, 90 exhibitors, and key partnerships advancing Vision 2030 logistics goals.

Aseer Region Municipality completes a 500,000 sqm automotive investment site in Khamis Mushait with 168 showroom plots, dealerships, and an auction yard.

GCC Secretary-General Jasem Albudaiwi tells World Investment Forum the Gulf is one interconnected $2.4 trillion economy seeking long-term global investment partners.

GCC Secretary-General Jasem Albudaiwi commends Qatar’s role in promoting global investment at the 9th Gulf Investment Forum in Doha, held with UNCTAD.

Saudi Energy Company announces an electricity service tariff adjustment effective January 1, 2027, under the Kingdom’s governance procedures for energy and water prices.

Saudi Arabia climbed to 14th globally in management system certifications in 2025, with 29,913 certificates issued, a 46% increase from 2024, per IAF data.

Moody’s affirms ICIEC’s Aa3 Insurance Financial Strength Rating with Stable Outlook, reflecting strong financial fundamentals and strategic importance.

GCC Secretary-General Jasem Albudaiwi and Türkiye’s Trade Minister Dr. Ömer Bolat review progress on the GCC-Türkiye Free Trade Agreement in Istanbul.

The Saudi-Pakistan Real Estate Expo concluded in Lahore, showcasing 19 Saudi entities and deepening bilateral investment partnerships under Vision 2030.

President Asif Ali Zardari visits Saudi-Pakistan Real Estate Expo in Lahore, highlighting economic partnerships and investment opportunities between the two nations.

Pepper cultivation in Al-Jouf drives crop diversity and strengthens Saudi food security under Vision 2030, with local farmers reporting economic and environmental benefits.

Saudi Arabia ranks first in the GCC and 12th globally in the 2026 Marsh CFA Institute Global Pension Index, scoring 73.2 and earning an A rating for Integrity.

Saudi Arabia ranks first among G20 countries in the Auditing and Accounting Practices Index, reflecting over 300 reforms aligned with Saudi Vision 2030.

The Saudi Fund for Development signed 13 loan agreements worth SAR1.77 billion with 11 developing countries in 2025, expanding its global development finance role.

REGA showcases Saudi Arabia’s updated real estate regulations, including the Law of Real Estate Ownership by Non-Saudis, at the Saudi-Pakistan Real Estate Expo in Lahore.

Saudi-Pakistan Real Estate Expo 2026 opens in Lahore with 19 Saudi developers showcasing projects in Makkah, Madinah, Riyadh, and Jeddah to 5,000 visitors.

Saudi Ports Authority (Mawani) invites investors to develop the 2.4 million sqm Al-Khumrah Integrated Logistics Zone in Jeddah, boosting Vision 2030 goals.

The Panama Canal generated $6.6 billion in fiscal 2026 revenue, up 16.6%, with 13,951 transits. The result highlights resilience amid El Niño and global trade demand.

Oil prices settled steady on Oct 22, 2026, with Brent at $108.82 and WTI at $97.15, reflecting Saudi Arabia’s stabilizing role in global energy markets.

ICIEC, a member of the IsDB Group, participated in TXF Asia 2026 in Singapore to strengthen partnerships with Asian investors and support infrastructure projects.

Saudi Arabia’s Environment Ministry urges farms outside grid expansion areas to consider solar power to cut costs, improve efficiency and boost sustainability.

The inaugural International Gifts & Products Exhibition opens in Jeddah, running until October 31 with hundreds of global exhibitors and free admission.

Qassim Region’s pomegranate harvest exceeds 12,000 tons from 300,000 trees across 150 farms, highlighting Saudi Arabia’s agricultural diversification and Vision 2030 progress.

Saudi Arabia’s point-of-sale transactions reached SAR12.6 billion in one week, with 246.42 million transactions, according to the Saudi Central Bank’s latest report.

Papaya cultivation in Al-Qunfudhah is unlocking Saudi Arabia’s tropical agriculture potential, supporting Vision 2030 goals for food security and economic diversification.

Unaizah camel auction district in Qassim hosts daily auctions for more than 100 camels, boosting trade, heritage, tourism, and Vision 2030 goals.

Japanese stocks rose Wednesday as AI demand optimism lifted Tokyo markets, with the Nikkei 225 up 1.56% to 65,074.56 and the Topix gaining 1.03%, SPA reports.

Madinah offers integrated services including consultations, financing, local content platforms, and arbitration to support investors and accelerate business growth.

Brent crude settled at $108.79 a barrel after touching a five-month high of $111.99. Saudi Arabia’s role in OPEC+ and Vision 2030 remain key to market stability.

The National Debt Management Center closes the October 2026 SAR-denominated sukuk issuance, allocating SAR6.749 billion across four tranches to support Saudi Arabia’s fiscal strategy.

Saudi Arabia’s Ministry of Environment, Water and Agriculture is developing frankincense cultivation in Najran to diversify agricultural investment and build processing industries.

Tabuk Region showcases investment opportunities in agriculture, water, aquaculture, and ecotourism at a workshop, advancing Saudi Arabia’s Vision 2030 goals.

ZATCA calls on Saudi businesses to file VAT returns for September and Q3 2026 by October 31, 2026, with penalties for late filing and full digital support.