Category: Economy

Saudi Arabia imported over 123 million kilograms of chocolates in 2024, according to ZATCA, reflecting strong consumer demand and diverse global sourcing.

Saudi Arabia’s TGA reports over 26 million shipments delivered during Ramadan 1446 AH, an 18% rise, highlighting logistics sector growth and Vision 2030 progress.

Gold markets in Jazan see a surge in demand during the final days of Ramadan as residents prepare for Eid Al-Fitr, reflecting cherished traditions and economic vitality.

Madinah Central Market spans 160,000 sqm with 1,100+ shops, serving as a key food and commerce hub in Saudi Arabia, supervised by Madinah Municipality.

Saudi Arabia’s new Law of Commercial Register and Law of Trade Names take effect Thursday, streamlining business registration and allowing English trade names.

Japan’s Nikkei 225 closed near an eight-month low at 35,624.48 as traders await potential US tariffs. SPA reports TOPIX up 0.1% to 2,661.73 amid global trade caution.

Asian stock markets traded in narrow ranges on April 2, 2025, as investors awaited US tariff announcements. SPA reports mixed results amid global uncertainty.

Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman reaffirm commitment to oil market stability, adjusting production upward by 411,000 bpd for May 2025.

Saudi Arabia’s Ministry of Commerce implements new Commercial Register and Trade Names laws, introducing a unified registry and modernized brand protections under Vision 2030.

Saudi Commerce Minister Majid Al-Kassabi confirms new Commercial Register and Trade Names laws will ease business burdens and support Vision 2030 economic transformation.

Saudi Arabia launches the first Sports Investment Forum in Riyadh, aiming to boost sports investment, private sector participation, and Vision 2030 economic diversification.

Saudi Arabia’s industry and mineral resources system concludes successful participation in Hannover Messe 2025, showcasing industrial transformation and Vision 2030 progress.

ZATCA calls on Saudi establishments to file March 2025 withholding tax forms by April 10, 2025, via its online portal. A 1% penalty applies for every 30 days of delay.

The Taif rose oil ‘Tola’ production season has begun, with nearly 70 factories producing over 80 derivatives from 550 million roses annually in Saudi Arabia.

The Islamic Development Bank and Algeria deepen energy cooperation, focusing on renewable projects and regional integration, with Saudi-backed finance.

Saudi Arabia concluded the third IMFC deputies meeting in Diriyah, co-organized by the Ministry of Finance and IMF, focusing on global financial stability and inclusive growth.

Mawani adds Milaha’s new Inta Gulf Express shipping service to Dammam Port, enhancing maritime connectivity and supporting Saudi exports and imports.

Dr. Esam Alwagait of SDAIA highlights AI’s pivotal role in driving returns and ensuring sustainability in sports investment at the Sports Investment Forum in Riyadh, aligning with Saudi Vision 2030.

The Islamic Development Bank Group will hold its 2025 Annual Meetings in Algiers from May 19-22 under the theme Diversifying Economies, Enriching Lives.

Jeddah will host the Saudi International Furniture and Décor Exhibition Mobedex from April 15 to 17, welcoming local, regional, and international industry leaders.

Saudi Arabia’s Sports Investment Forum day two in Riyadh focused on investment funds and financing strategies to develop the sports sector, aligning with Vision 2030.

Saudi Fund for Development signs $10 million loan with Solomon Islands to build 35.5 MW solar plants and storage, marking its first development loan to the Pacific nation.

Estidamah launches an Azolla cultivation training program in Al-Kharj to boost sustainable protein feed for poultry and livestock, supporting Saudi food security goals.

Saudi Arabia’s Ministry of Industry and Mineral Resources issued 63 industrial licenses in January 2025, with SAR1.197 billion in investments and 103 new factories starting production.

Saudi Arabia’s CMA opens a 30-day public consultation on introducing SPACs to the Parallel Market, aiming to boost liquidity and private-sector listings.

Saudi Ambassador to Algeria Abdullah bin Nasser Al-Bussairy met Saudi-Algerian Business Council President Ezzedine Adoul to prepare a Saudi business delegation visit.

Saudi delegation led by SASO Governor Dr. Saad Alkasabi visits Singapore to strengthen trade relations and showcase the Kingdom’s product safety expertise.

Saudi Minister of Energy announces 14 new Arabian oil and natural gas discoveries in Eastern Region and Empty Quarter, reinforcing Kingdom’s global energy leadership.

The Islamic Development Bank Institute launches the first-ever AI Hackathon for Islamic finance, aiming to enhance compliance with AAOIFI standards through innovative AI solutions.

Saudi Venture Capital Company announces the first Private Capital Forum in Riyadh on October 22-23, 2025, gathering 500+ global experts to boost venture capital and private equity.

Saudi Arabia’s Capital Market Authority invites public comments on its draft framework for offering and listing different classes of shares, open until May 9, 2025.

The Federation of Saudi Chambers announces the first Saudi-Mauritanian Joint Business Council to boost trade and investment in energy, mining, agriculture, and more.

CIBAFI will hold a roundtable next Tuesday to review its 2025 strategic plan, bringing together global Islamic finance members and regulators from OIC states.

New York retains top spot in 2025 Wealthiest Cities report with 384,000 millionaires, while Dubai and Riyadh surge, highlighting the Middle East’s rise as a global wealth hub.

The International Islamic Trade Finance Corporation (ITFC) has launched its Trade Connect Central Asia+ Program, targeting five Central Asian countries to boost trade.

Saudi ports handled 699,928 TEUs in March 2025, a 13.61% rise. Exports surged 31.82%. Official SPA data highlights Vision 2030 logistics progress.

GASTAT releases February 2025 Industrial Production Index: non-oil activities up 3.2%, overall IPI dips 0.2%. Key insights into Saudi Arabia’s economic diversification.

SASO delegation led by Dr. Saad Alkasabi visited Bangkok to strengthen Saudi-Thai trade, improve product quality and safety, and reduce technical barriers.

A high-level Saudi delegation visits Egypt to enhance economic cooperation, explore investment opportunities, and strengthen bilateral ties under a new investment protection agreement.

Saudi Arabia’s domestic liquidity reached a historic SAR3.033 trillion by end-February 2025, up 10.1% annually, per SAMA. This milestone supports Vision 2030 economic diversification.

Saudi Minister of Finance Mohammed Aljadaan concluded the Joint Annual Meetings of Arab Financial Institutions and the 16th Arab Finance Ministers Council in Kuwait.

JIBEX 2025 opens in Jeddah on April 15, organized by the Jeddah Chamber, connecting local and international firms to Saudi Arabia’s expanding construction market.

Saudi Arabia’s Insurance Authority publishes its Q1 2025 Complaints Index, boosting transparency and consumer protection in health and vehicle insurance.

The ITFC, a member of the IsDB Group, signs a €40 million Murabaha financing agreement with Comoros to boost energy security and support economic growth.

Makkah has experienced an unprecedented decade of economic and urban growth, driven by major projects and Vision 2030 goals, preparing for 30 million pilgrims by 2030.

Najran launches sandalwood and aloeswood cultivation experiment with 200 seedlings, boosting Vision 2030 economic diversification and sustainable agriculture.

Taif hosts the inaugural Rose and Aromatic Plants Global Forum from April 13-26, 2025, showcasing Saudi Arabia’s rich heritage and Vision 2030 goals.

Riyadh hosts the fourth Middle East Poultry Expo April 14-16, with 340 companies and 800+ products advancing Saudi food security and Vision 2030.

The Agricultural Development Fund is participating in the Middle East Poultry Expo in Riyadh, showcasing financing programs for poultry projects and supply chains.

Mawani adds AP Line’s AL PAKISTAN GULF shipping service to King Abdulaziz Port in Dammam, linking Karachi and Jebel Ali to boost Saudi trade and connectivity.

U.S. Secretary of Energy Chris Wright praised Saudi Arabia’s solar energy resources and effective energy development during an official visit to Riyadh.

Taif Governor Prince Saud bin Nahar launches the first Rose and Aromatic Plants Global Forum 2025 at Taif University, spotlighting the iconic Taif rose.

Minister Khalid Al-Falih highlights Saudi Arabia’s strides in human capital development, aligning with Vision 2030 to prepare for the age of automation.

The Saudi-Egyptian Investment Forum in Cairo convened officials and business leaders, concluding with multiple MoUs between Saudi and Egyptian companies across sectors.

Assistant Minister Ibrahim Al-Mubarak says Saudi Arabia and Egypt can build a complementary investment system at the Saudi-Egyptian Investment Forum in Cairo.

Saudi Arabia’s Istitlaa platform invites feedback on 20 economic projects, including SDAIA data rules and CMA SPAC frameworks, reinforcing Vision 2030 transparency.

Al-Baha’s 19 agricultural cities covering 36.7 million sqm enhance Saudi food security, create jobs, and support Vision 2030 sustainable development goals.

Saudi Fund for Development signs $17 million loan agreement with Maldives to expand Velana International Airport and support affordable housing projects.

The new Saudi riyal symbol, approved by King Salman, blends Arabic calligraphy with modern design to reflect Saudi Arabia’s heritage and Vision 2030 economic ambitions.

Estidamah distributes 15,000 tissue-cultured seedlings at the Rose and Aromatic Plants Global Forum in Taif, supporting Saudi Arabia’s goal of two billion roses by 2026 and advancing sustainable agriculture.

Saudi Exports leads 28 tech companies at GITEX AFRICA 2025 in Marrakech, showcasing Saudi innovation and boosting non-oil exports under Vision 2030.

NEOM Investment Fund invests in Liberation Labs to develop precision-fermentation facility in Saudi Arabia, boosting food security and Vision 2030 goals.

SASO delegation led by Governor Saad Al-Kasabi visited Malaysia to boost trade and product safety, holding workshops on Saudi standards and the SALEEM program.

Estidama workshop explores localizing asparagus cultivation in Saudi Arabia to boost food security and agricultural sustainability under Vision 2030.

Biban 24, organized by Monshaat, wins the MUSE Creative Award for Best Event in Entrepreneurship, highlighting Saudi Arabia’s thriving SME ecosystem and Vision 2030 progress.

The Rose and Aromatic Plants Global Forum 2025 in Taif enters its second day, featuring discussions on cultivation challenges, medical tourism, and sustainable development.

CIBAFI’s 25th annual meetings in Madinah will host the 45th AlBaraka Symposium, gathering global experts to advance Islamic finance and Vision 2030 goals.

GCC Secretary-General Jasem Albudaiwi highlights the Customs Union Authority’s vital role in economic integration at its Riyadh headquarters opening.

Saudi Arabia’s Environment Minister inaugurates fourth Middle East Poultry Expo, witnessing 29 agreements worth SAR5 billion to boost food security and Vision 2030 goals.

Saudi Arabia’s industrial workforce has grown by nearly 85% since 2019, with women now making up 31% of the sector, driven by Vision 2030 investments in education and training.

SAMA announces electronic payments reached 79% of total retail payments in 2024, up from 70% in 2023, with 12.6 billion transactions, advancing Vision 2030 goals.

Saudi Reef supports over 400 farmers and aims to produce two billion roses annually by 2026, boosting the Kingdom’s global rose market position and Vision 2030 goals.

Saudi Minister Bandar Alkhorayef leads delegation to Indonesia to strengthen ties in mining, food, pharmaceuticals, and auto parts, aligning with Vision 2030 goals.

Saudi bank credit reaches SAR3.042 trillion by February 2025, marking 15% annual growth. SAMA data shows robust lending across 17 economic activities, supporting Vision 2030.

The National Center for Privatization & PPP (NCP) participated in P3C 2025 in Dallas, showcasing Saudi Arabia’s PPP investment landscape and Vision 2030 opportunities.

Saudi Industry Minister Bandar Alkhorayef meets Indonesian mining leaders to boost collaboration in critical minerals like nickel, cobalt, and copper, aligning with Vision 2030.

Weqaa participated in the 4th Middle East Poultry Expo in Riyadh, showcasing efforts to prevent poultry diseases and strengthen food security in Saudi Arabia.

Saudi Arabia’s trade with Arab League nations reached SAR87.77 billion in Q4 2024, up 6.2% annually, representing 17.2% of total global trade, per GASTAT.

Saudi Exports Development Authority concludes successful trade mission to Nigeria, with 26 Saudi companies signing export agreements to boost non-oil exports and Vision 2030 goals.

SASO concludes Asian tour in Indonesia, enhancing trade relations and product safety. The visit strengthens Saudi-Indonesian cooperation and aligns with Vision 2030 goals.

Saudi date exports reached SAR1.695 billion in 2024, a 15.9% increase, reaching 133 countries. The sector’s growth supports Vision 2030’s economic diversification.

Taif roses yield over 960 million blooms annually across 910 farms, supported by Saudi Reef and Vision 2030, driving economic growth and cultural heritage.

Saudi EXIM and Indonesia Eximbank signed a memorandum of understanding in Jakarta to strengthen trade cooperation, support non-oil exports, and align with Vision 2030 goals.

Saudi Arabia and Indonesia signed a mining cooperation MoU in Jakarta on April 17, 2025, to boost expertise exchange and sustainable practices.

Governor of Madinah inaugurates 45th AlBaraka Islamic Economics Symposium, highlighting Saudi Arabia’s leadership in Islamic banking with over 85% Shari’ah-compliant operations.

Saudi Arabia’s TGA mandates national address on all parcel shipments from Jan 1, 2026, to boost delivery efficiency and support Vision 2030 logistics goals.

AIPS praises Saudi Arabia’s Sports Investment Forum as a global platform for economic growth, highlighting partnerships and Vision 2030 alignment.

ECZA launches strategic partnerships to enhance Saudi Arabia’s investment landscape, offering tax exemptions and streamlined regulations in Special Economic Zones.

Saudi Export Development Authority organizes Yemeni-Libyan trade mission in Jeddah on April 21, 2025, to boost non-oil exports and strengthen regional trade ties.

The 45th AlBaraka Islamic Economics Symposium in Madinah held its second and third sessions, focusing on Islamic banking growth, Islamic windows, and Sharia-compliant strategies.

ICIEC, a member of IsDB, held a virtual Credit Risk Management Workshop with 80+ Nigerian executives, focusing on forecasting, analysis, and risk strategies.

Over 90,000 citrus trees bloom in Tabuk, enhancing Saudi Arabia’s agricultural sector and supporting Vision 2030 food security goals.

The International Islamic Trade Finance Corporation (ITFC) participated in the Uzbekistan Trade Finance Conference 2025, highlighting investment opportunities and its $700 million support for Uzbekistan’s private sector since 2019.

Najran’s strawberry cultivation thrives with advanced techniques, achieving year-round production and supporting Saudi Arabia’s food security and Vision 2030 goals.

Saudi Arabia extends the application deadline for Phase Two of the Exploration Enablement Program to May 1, 2025, boosting mining investment and Vision 2030 goals.

Discover how Jazan’s Al-Kannah fishing season yields abundant king mackerel, supporting local livelihoods and Saudi Vision 2030 goals. Read more.

MODON earns 5-star institutional excellence certification from EFQM for 2025, advancing from its 2023 4-star rating and reinforcing Saudi industrial competitiveness.

Official Formula 1 merchandise at the Jeddah Corniche Circuit drives an economic boost and fuels fan excitement, aligning with Saudi Vision 2030 goals.

AAOIFI convened its 23rd Annual Shari’ah Boards Conference in Bahrain with global participation, addressing contemporary fiqh issues and Islamic finance standards.

Saudi Reef announces over 750 million Taif roses produced in 2024, with SAR135 million invested in 14 projects to reach 2 billion roses by 2026 under Vision 2030.