Category: Economy

Saudi Arabia’s competition regulatory framework earns “Very Strong” rating in ABLF 2023 report by ESCWA, with perfect score in merger regulatory regime, advancing Vision 2030 goals.

SOCPA becomes the first Arab professional body to join IAASB and IESBA, enhancing Saudi Arabia’s global role in accounting standards and Vision 2030.

Saudi Minister of Transport and Logistics inspects key facilities in Madinah to ensure seamless transport for pilgrims, highlighting Vision 2030’s commitment to excellence.

The 16th IFSB Summit in Brunei addresses emerging risks in Islamic finance, highlighting Saudi Arabia’s role in promoting global financial stability.

Saudi Arabia’s economic liquidity reached SAR 2.824 trillion in March 2024, up 8.3% annually, driven by demand deposits and supporting Vision 2030 goals.

Asian shares were mixed on May 9, 2024, with gains in Japan, Hong Kong, and China, while Korea and Australia dipped. Oil prices rose slightly.

Saudi ports handled 27.1 million tons of cargo in April 2024, an 8.58% increase, reinforcing the Kingdom’s role as a global logistics hub under Vision 2030.

Saudi Arabia and Ghana sign agreement to boost cooperation in agriculture, food security, fisheries, and livestock during Minister Alfadley’s Africa tour.

GCC Secretary General Jasem Albudaiwi outlines the strategic vision for economic diversification, aiming to reduce oil reliance and build resilient economies.

Saudi date exports rose 13.7% in Q1 2024 to SAR644 million, driven by NCPD efforts and Vision 2030 goals for economic diversification.

Saudi Arabia hosts the GREAT Futures Initiative Conference in Riyadh on Tuesday, with UK and Saudi public and private sector leaders to boost economic ties and Vision 2030.

Saudi Arabia’s GACA will present a General Aviation Roadmap at the Future Aviation Forum 2024, targeting $2 billion GDP contribution by 2030 and boosting tourism and business aviation.

The General Organization for Social Insurance (GOSI) participates in the IFoA Middle East Conference 2024 in Riyadh, highlighting actuarial expertise and Vision 2030 alignment.

Asian stocks closed mostly lower on May 13, 2024, with Japan’s Nikkei down 0.1% and Hong Kong’s Hang Seng up 0.6%. Oil and currency markets also saw modest moves.

Saudi EXIM Bank and SNB sign insurance and Murabaha agreements to enhance non-oil exports, aligning with Vision 2030. The deals aim to boost competitiveness and reduce risks.

Ministry of Commerce participates in GREAT FUTURES Initiative Conference in Riyadh to enhance Saudi-British trade partnerships, featuring 127 speakers and 47 sessions.

Saudi Business Center participates in GREAT FUTURES Conference in Riyadh to boost Saudi-British economic ties and advance Vision 2030 business facilitation goals.

SEREDO 2024 exhibition launches in Jeddah on May 14, showcasing real estate opportunities and supporting Saudi Vision 2030. The four-day event runs through May 17.

Asian shares were mixed in muted trading on May 14, 2024, with slight gains in Japan and Hong Kong but declines in Australia and Shanghai.

Saudi Ambassador to Qatar inaugurates the first Saudi National Products Exhibition, promoting ‘Saudi Made’ and boosting bilateral trade.

Saudi Venture Capital Company invests SAR112.5 million in General Atlantic’s private equity fund, boosting high-growth sectors and Vision 2030 economic diversification.

ZATCA approves exemption requirements for duty-free markets in arrival lounges at all Saudi customs points, setting SAR3,000 purchase limit and accepting license applications.

Qiddiya Investment Company integrates SEVEN into its group, enhancing Saudi Arabia’s entertainment ecosystem and supporting Vision 2030.

Saudi Arabia signs SAR4B poultry investment agreements at Middle East Poultry Expo, boosting food security and Vision 2030.

Saudi Arabia and the UK highlight determination to expand economic partnership at GREAT FUTURES Initiative Conference in Riyadh, with 1,500 participants and 60 initiatives.

The 49th Saudi relief plane, carrying shelter items for Palestinians in Gaza, arrived in Egypt. This aid underscores Saudi Arabia’s commitment to humanitarian support.

SEREDO 2024 exhibition opened in Jeddah, bringing together real estate leaders to showcase projects and support Saudi Vision 2030’s housing goals.

Riyadh hosts CIPS MENA Conference on procurement and supply chains, aligning with Vision 2030. Experts discuss sustainability, digital transformation, and local content.

Saudi Minister Bandar Alkhorayef emphasizes 4IR technologies as fundamental for industrial transformation, aligning with Vision 2030 goals.

Asian shares mostly higher on May 15, 2024, with Japan and Australia up, China down. Crude oil prices rise; Saudi Arabia benefits from positive market trends.

Saudi Finance Minister Al-Jadaan highlights Vision 2030 economic diversification at Qatar Economic Forum, emphasizing growth and investment.

Saudi Arabia’s National Housing Company organizes Real Estate Supply Chain Forum in Riyadh on May 20-21 to boost cooperation and innovation in the sector.

Al-Baha’s Tihama area produces over 1,200 tons of mangoes across 127 farms, showcasing Saudi agricultural growth and supporting Vision 2030.

Saudi Central Bank seeks public input on draft rules for electronic wallets, supporting digital finance growth and Vision 2030.

Saudi Transport Minister Saleh Al-Jasser visits Muuga Harbour in Estonia to enhance maritime cooperation and showcase Vision 2030 logistics opportunities.

Saudi Arabia’s Quality of Life Program discusses investment opportunities with Italian businesses to boost bilateral ties and Vision 2030 goals.

Saudi Central Bank licenses Hala Financing for debt-based crowdfunding, expanding fintech options and supporting Vision 2030 financial inclusion goals.

SAUDI EXPORTS strategic sponsor at the inaugural Saudi National Products Exhibition in Qatar, promoting ‘Saudi Made’ products and boosting non-oil exports under Vision 2030.

Saudi Arabia and the US signed a roadmap for energy cooperation, covering clean hydrogen, nuclear, and carbon management, advancing Vision 2030 goals.

The Great Futures Initiative Conference concluded in Riyadh, highlighting Saudi-British economic partnership with 13 agreements and 50 panel sessions.

Asian shares mostly advanced on May 16, 2024, with Japan’s Nikkei leading gains. Stable oil prices benefit Saudi Arabia’s Vision 2030 goals.

Governor of Qatar Central Bank met IsDB President at Qatar Economic Forum to enhance cooperation in Islamic finance and development, aligning with Vision 2030.

Saudi Economy Minister Faisal Alibrahim met U.S. Chamber delegation led by Steve Lutes to enhance economic cooperation and investments.

Saudi Industry Minister Bandar Alkhorayef and US Energy Secretary Jennifer Granholm met in Riyadh to discuss clean energy, critical minerals, and mining cooperation.

At the Arab Forum in Riyadh, Interpol’s Isaac Oginni called for proactive cooperation to combat financial crimes, supporting Saudi Vision 2030 goals.

Saudi EXIM signs a $100 million line of credit agreement with Ziraat Bank of Türkiye to finance non-oil exports, advancing Vision 2030 goals.

Saudi Arabia’s aviation sector contributed $53B to economy, GACA report reveals at Future Aviation Forum 2024, aligning with Vision 2030.

King Abdul Aziz Port in Dammam wins ‘Port of the Year’ at ShipTek Awards, highlighting infrastructure growth and smart port initiatives under Vision 2030.

Saudi Finance Minister Mohammed Aljadaan heads delegation to Beijing for Saudi-Chinese meetings, focusing on investment and Vision 2030.

Saudi Finance Minister Al-Jadaan leads delegation to Beijing for high-level Saudi-Chinese financial meetings, strengthening ties and exploring Vision 2030 investment opportunities.

Asian stocks advanced on May 20, 2024, with Hong Kong, Shanghai, Tokyo, Australia, and South Korea posting gains. Oil prices rose, and currency markets saw shifts.

ZATCA reminds businesses of May 31 VAT filing deadline for April; penalties for late submission range from 5% to 25% of tax due.

Saudi Arabia’s Housing Minister inaugurated the Real Estate Supply Chain Forum 2024 to enhance supply chains, boost local content, and attract investments, aligning with Vision 2030.

Saudi Minister Bandar Al-Khorayef met with COMAC, Embraer, and Boeing at the Future Aviation Forum to boost cooperation in aviation manufacturing and technology.

Saudi and Chinese finance ministers meet in Beijing to discuss economic cooperation, innovation, and Vision 2030 alignment. Key topics included AI, renewable energy, and global recovery.

Saudi Minister of Economy Faisal Alibrahim met PepsiCo CEO Ramon Laguarta to discuss Vision 2030 and investment opportunities, signaling continued foreign engagement.

GACA releases April 2024 airline and airport classifications based on passenger complaints, highlighting top performers like SAUDIA and Madinah Airport.

Saudi Arabia announces 5,000 tons of annual honey production on World Bee Day, highlighting growth in beekeeping and support for the honey sector.

Saudi Arabia participates in the 10th World Water Forum in Indonesia, showcasing desalination, water management, and technologies aligned with Vision 2030.

Saudi Arabia’s Minister Bandar Al-Khorayef announced comprehensive food security strategies, highlighting self-sufficiency, investments, and export growth in the food industry.

Saudi Deputy Finance Minister Khalid Bawazier heads delegation at 71st GCC Finance Committee meeting in Doha, shaping regional economic agenda.

Saudi Arabia’s NHC signs 20 agreements at Real Estate Supply Chains Forum to secure construction supply chains, boost local manufacturing, and support Vision 2030 housing goals.

Saudi Arabia’s TGA and Saudi Aramco train marine examiners in a first-of-its-kind course, enhancing seafarer certification and supporting Vision 2030.

Saudi Minister Bandar Al-Khorayef visits Jordan to strengthen industrial, trade, and investment cooperation, underscoring Vision 2030 goals and regional partnership.

The National Debt Management Center’s May 2024 Sukuk issuance reaches SAR 3.232 billion, supporting Saudi Arabia’s Vision 2030.

The Future Aviation Forum in Riyadh exceeded expectations with 102 agreements worth over SAR75 billion, showcasing Saudi Arabia’s aviation growth.

SAMA Governor Ayman Al-Sayari heads Saudi delegation to Joint Annual Meetings of Arab Financial Institutions in Cairo, focusing on sustainable development and regional cooperation.

Saudi Arabia’s privatization drive hits key milestone with 60+ contracts in eight sectors, totaling $10B, attracting Chinese investors.

Asian shares were mostly lower on Wednesday, with Tokyo’s Nikkei leading declines. Oil prices slipped, while the dollar rose against the yen. Insights from official sources.

Saudi Arabia’s railway network sees 27% surge in intercity travel and 10.7% cargo growth in Q1 2024, supporting Vision 2030.

Saudi banks and finance companies granted SAR275.576 billion in facilities to SMEs over six years, marking 154% growth since 2018, supporting Vision 2030.

GACA President inaugurates WAGA 2024 in Riyadh, uniting global aviation leaders. First Middle East hosting underscores Saudi Vision 2030.

Saudi Central Bank (SAMA) seeks public input on updated rules for debt-based crowdfunding, enhancing fintech regulation and transparency.

Saudi EXIM Bank signs two cooperation agreements with Japan’s SMBC and MUFG to boost non-oil exports under Vision 2030.

FII Institute announces first FII PRIORITY summit in Rio de Janeiro and theme for FII8 in Riyadh, promoting dignity and sustainable investment.

SAMA Governor Ayman Al-Sayari leads Saudi delegation at Arab financial institutions meeting in Egypt, highlighting Vision 2030 and regional economic cooperation.

Saudi Minister Bandar Alkhorayef met with Jordanian pharmaceutical leaders to enhance cooperation in manufacturing and marketing, aligning with Vision 2030.

IsDB President Dr. Mohammed Al-Jasser met Egyptian Minister Dr. Hala El-Said in Cairo to review projects and strengthen strategic partnership.

Saudi Industry Minister Bandar Alkhorayef met Jordanian officials to enhance mining cooperation, focusing on phosphate and potash, aligning with Vision 2030.

Saudi Arabia showcases premium dates and coffee at the 10th World Water Forum in Bali, highlighting agricultural excellence and Vision 2030 progress.

Asian shares traded mixed on Thursday with Japan’s Nikkei 225 up 1.3% while Hong Kong’s Hang Seng fell 1.6%. Oil prices declined as the dollar weakened against the yen.

GASTAT reports 3.3% rise in Saudi non-oil exports for Q1 2024, driven by re-exports and chemicals. Explore details and Vision 2030 alignment.

OIC Secretary-General Hissein Brahim Taha calls for stronger institutional frameworks to boost multilateral economic participation at COMCEC meeting in Ankara.

Saudi date companies visit Alibaba headquarters to boost exports. NCPD leads initiative, highlighting 14% export surge and Vision 2030 alignment.

The Islamic Development Bank and Mauritania signed a partnership framework agreement to support economic transformation during the Joint Annual Meetings of Arab Financial Institutions 2024 in Cairo.

Saudi Minister of Investment Khalid Al-Falih leads delegation to Sino-Gulf Cooperation Forum in Xiamen, highlighting rapid development and diverse cooperation.

The Second Mango Festival in Al-Makhwah, organized by the Ministry of Environment, Water, and Agriculture, showcases local agriculture and community collaboration.

Moody’s affirms Saudi Arabia’s A1 credit rating with a positive outlook, citing reform progress and diversification efforts under Vision 2030.

Saudi Finance Minister Al-Jadaan participated in the G7 Finance Ministers meeting in Stresa, Italy, discussing AI, debt relief, and cross-border payments.

Saudi Arabia’s fashion industry hits SAR92.3 billion, offering lucrative opportunities for entrepreneurs backed by Vision 2030 and record venture capital.

Saudi Central Bank invites public consultation on draft Internal Audit and Compliance Principles for finance companies via Istitlaa platform, aligning with Vision 2030.

The Saudi Energy Efficiency Center hosts the ESCO 2024 Forum in Riyadh, showcasing initiatives and investment opportunities in energy efficiency aligned with Vision 2030.

The ninth Saudi-Austrian Joint Committee session in Vienna on May 28, 2024, will strengthen economic ties and mutual growth across sectors.

Reef Saudi establishes 11 agricultural marketing centers across the Kingdom, enhancing fruit sector value chains and supporting Vision 2030 rural development goals.

Diriyah Company starts construction on premium office space in Diriyah Square, featuring five sustainable buildings, 39,000 sqm GLA, and amenities, advancing Vision 2030.

ROSHN Group partners with SIMAH to enhance transparency and accelerate home ownership in Saudi Arabia, supporting Vision 2030 goals.

Saudi Minister of Economy and Planning Faisal Alibrahim met with Austrian Institute of Economic Research Director Gabriel Felbermayr in Vienna to discuss global economic developments.

The Public Investment Fund (PIF) establishes Neo Space Group (NSG) to develop Saudi Arabia’s satellite and space industries, supporting Vision 2030 economic diversification.

Saudi Economy Minister Faisal Alibrahim met Austrian Minister Martin Kocher in Vienna to discuss strengthening trade and economic cooperation, reinforcing Vision 2030 ties.

Sports Boulevard Foundation doubles private real estate investment fund for the Arts District to SAR2 billion, boosting private sector participation in Riyadh’s mega project.