Saudi Arabia announced as Host for 2034 FIFA World Cup
RIYADH: FIFA has officially announced that Saudi Arabia will host 2034 World Cup, bringing excitement throughout the kingdom. The announcement was made at the FIFA meeting, which was chaired by President Gianni Infantino, backed by the support of more than 200 FIFA member federations. Crown Prince Mohammed bin Salman shared his excitement addressing the kingdom’s […]
Saudi Arabia raises R&D spending to $ 6 billion in 2023 to push Vision 2030
RIYADH: In 2023, Saudi Arabia rose its research and development (R&D) spending to SR 22.61 billion ($ 6.02 billion), an increase of 17.4% from the last year. This movie is in support of Vision 2030 initiative to lessen dependency on oil sectors and strengthen sectors such as energy, technology and sustainability. The Kingdom’s R&D workforce […]
Riyadh Metro’s first phase of operations to begin on November 27
RIYADH: Riyadh Metro, a major milestone for Saudi Arabia, will open its first phase on November 27, 2024. The world’s largest, $22.5 billion driverless metro system, is geared to modernise transportation in Riyadh, supporting the nation’s Vision 2030 objectives to lessen traffic, encourage sustainability and support urban growth. The metro network will cover 176 kilometers […]
Saudi Insights: Saudi Arabia’s Rapid Growth in Energy, Construction, Business, and Real Estate Booming
Saudi refined crude exports reach 23-month peak at 1.54 million bpd RIYADH: In September 2024, Saudi Arabia’s refined crude exports increased significantly, accounting for 1.54 million barrels per day (bpd), making it the highest in two years and 23% higher than the previous month. Strong demand for diesel, motor gasoline, aviation gasoline and fuel oil […]
Saudi Arabia targets 450,000 new jobs in Entertainment Sector by 2030
RIYADH: Saudi Arabia’s Entertainment sector is set to generate 450,000 jobs and contribute 4.2% to the country’s GDP by 2030 as stated by the Ministry of Investment. This growth is in line with Vision 2030’s objective of diversifying the economy by reducing dependency on oil revenue and boosting tourism and Saudi culture. The country’s entertainment sector […]
World’s largest green hydrogen plant set to launch by 2026 in Saudi Arabia
RIYADH: Saudi Arabia’s NEOM Green Hydrogen Company (NGHC) is advancing rapidly on the development of the world’s largest green hydrogen plant which is set to launch in December 2006. The project is 60% complete and relies completely on solar and wind energy to power a 2.2-gigawatt electrolyzer which will continuously produce hydrogen. The project lowers […]
Saudi Insights: Saudi Arabia’s Tourism and Economic Growth: Key Developments and Achievements
Hello! Ready to explore ‘Saudi Arabia this week’ by Analytix, with the latest weekly news updates and business insights from Saudi Arabia. Here we go! From 8th November to 14th November 2024 Saudi Arabia climbs to 12th place from 15 positions in tourist spending: UN Tourism RIYADH: Saudi Arabia jumps from 15 positions to rank 12th in tourist spending […]
Qiddiya sets up executive Office to boost engagement with business partners
RIYADH: Qiddiya, backed by Saudi Arabia’s Public Investment Fund, recently launched an executive office called ‘Spirit of Play’ in an effort to enhance collaboration with business partners. With this new office, Qiddiya intends to look after destination marketing and management, making it Qiddiya’s first attempt at establishing partnerships with businesses, investors and industry professionals. Qiddiya City, […]
Saudi Aramco announces net profit of $ 27.52 bn in Q3
RIYADH: In Q3 2024, Saudi Aramco earned a net profit of $ 27.52 billion (SR 03.37 billion), above analyst expectations of $ 26.9 billion. However, the profit was 15.40% lower than in Q3 2024 given the challenging market conditions and lower crude oil, refined and chemical product pipes. The oil output was cut by 50,000 […]
Red Sea Global raises $1.5 bn funding for AMAALA Infrastructure Project
RIYADH: Red Sea Global (RSG) secured $ 1.5 billion for funding the AMAALA Infrastructure project which will transform Saudi Arabia’s Red Sea coastline into a luxury wellness destination. Partners of the project include EDF Group, Masdar, Korea East-West Power Co. (EWP) and SUEZ. First Abu Dhabi Bank, Emirates NBD and Riyad Bank are the main […]
