Category: Economy

Saudi Arabia and UK deepen sports investment ties at London forum, aligning with Vision 2030 to grow market to SAR 84 billion by 2030.

Qassim Municipality will showcase investment opportunities at Cityscape Global Exhibition 2024 in Riyadh on November 11-14, in line with Saudi Vision 2030.

Al-Jouf Municipality presents over 300 investment opportunities at Cityscape 2024, spanning tourism, health, education and trade in line with Vision 2030.

Explore how Saudi Arabia’s investment minister sees local content as vital for economic growth under Vision 2030.

Saudi finance and economy ministers met Morgan Stanley’s Clare Woodman at Davos to discuss global economic cooperation and investment, aligning with Vision 2030.

A Saudi delegation led by SIPA CEO Khaled Alkhattaf visits Azerbaijan to expand cooperation and boost mutual investments in energy, agriculture and technology.

IsDB Group President Dr. Muhammad Al Jasser and EBRD President Odile Renaud-Basso met in Jeddah to expand cooperation on sustainable development finance.

Saudi architecture in Madinah drives 19.5% growth in real estate and tourism, blending heritage with modernity to support Vision 2030.

Saudi Arabia’s Environment Ministry launches agricultural investment opportunities in Jazan via ‘Furas’ gate to boost food security and Vision 2030.

Biban Forum 2025, organized by Monsha’at, will host 100 local and international brands under its Franchise Gateway in Riyadh from November 5 to 8, advancing Vision 2030 goals.

Saudi Arabia’s Eastern Region Governor inaugurates the largest desalination membrane plant in the Middle East, a SAR1 billion project boosting water security and Vision 2030.

Discover how Jazan’s sesame crop symbolizes Saudi Arabia’s heritage and economic growth, supporting Vision 2030 with sustainable farming.

Saudi Arabia’s National Development Fund and Northern Trust sign a SAR12 billion MoU to enhance asset management, diversify global investments, and support Vision 2030.

The General Court of Audit and Ministry of Finance host the inaugural Financial Audit Forum in Riyadh, focusing on transparency and financial governance under Saudi Vision 2030.

Saudi Arabia’s SDRPY signs $81.2M deal to supply petroleum derivatives to Yemen’s power stations, enhancing stability and supporting Vision 2030.

The Saudi-US Trade and Investment Council held its ninth meeting in Riyadh, reviewing 31 initiatives to boost bilateral ties and support Vision 2030.

Saudi Minister of Commerce Dr. Majid Al-Qasabi concluded a Kuala Lumpur visit with ministerial meetings and the launch of the Saudi-Malaysian Business Council.

JIBEX 2024 opens in Jeddah with 300+ exhibitors, showcasing construction, interior design, machinery and building technology tied to Saudi Vision 2030.

Saudi Arabia and Poland deepen economic collaboration at the European Economic Congress, highlighting investment opportunities and Vision 2030 transformation.

Asian shares mixed on Wednesday, with Japan, Hong Kong, Shanghai down, while Korea rises. Oil prices dip, dollar strengthens. Saudi Arabia’s Vision 2030 promotes economic stability.

The Royal Commission for Jubail and Yanbu grants Saudi Coffee Company a license to establish Jazan’s first coffee-production factory, advancing Vision 2030 goals.

Jazan region’s industrial sector attracts over SAR71.46 billion in investments, with 193 factories and 52 under construction, driving Saudi Vision 2030 goals.

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.

Saudi Minister of Commerce Dr. Majid Al-Qasabi visits Thailand to sign MoU, convene business council, and enhance bilateral economic cooperation.

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.

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.

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

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.

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.

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

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.

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

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.

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.

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

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

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.