Saudi Arabia desires to become Global Logistics Hub status by 2030 through tech investments
RIYADH: Saudi Arabia wishes to become a Global Logistics Hub status by 2030 by investing heavily, strategically in technology and infrastructure. King Salman International Airport Development Co. (KSIADC), which is owned by Saudi Arabia’s sovereign wealth fund has teamed up with ewpartners, a firm which focuses on private investment and strategic alliances. The collaboration with […]
Saudi Arabia offers a share of $ 200 bn to Pakistan in annual construction projects
RIYADH: Saudi Arabia’s Investment Minister, Khalid Al-Falih said he plans to allocate a part of the country’s $ 200 billion annual construction and material procurement contracts to Pakistan. During his visit to Islamabad, he revealed the news of finalising $ 2 billion in business deals. Saudi Arabia is at the forefront of becoming the world’s largest […]
Saudi Expat Remittances grew 10%, totaling $ 3.16 bn
RIYADH: The Saudi Central Bank (SAMA) reported expatriate remittances from Saudi Arabia grew by 10% in August 2024, reaching a total of SR11.86 billion ($3.16 billion). Also, the remittances from Saudi nationals increased by 19% at SR5.83 billion. Saudi Arabia is a main source of global remittances, being the primary source of financial well-being for […]
Saudi Insights: Riyadh Forum set to boost SMEs and Startups in Saudi Arabia
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 30th September to 07th October 2024 New Tech Initiative unveiled to support Startups and drive digital growth RIYADH: The Tech Talent Hub initiative was launched by Saudi Arabia’s Ministry of Communications and […]
Moody Predicts 5.5% surge in Saudi Arabia’s non-oil GDP from 2025 to 2027
RIYADH: According to a report submitted by Moody’s, Saudi Arabia’s non-oil GDP is expected to grow between 5%-5.5% from 2025 to 2027, a rise from 4.6% recorded in 2022-2023. The growth is in line with the objectives of Vision 2030 which wants to diversify the economy by focusing more on non-oil revenue and reducing dependence on […]
Global Cybersecurity Forum calls for collective efforts to protect Digital Future
RIYADH: The Global Cybersecurity Forum in Riyadh focused on how global collaboration is important to secure the digital future. Saudi Information Technology Co.’s CEO Saad Al-Aboodi said that the global systems being interconnected and the shift of physical assets to digital ones, raises the significance of cybersecurity for modern societies. He highlighted importance of knowing cybersecurity […]
SPARK attracts $ 3 bn investment from over 60 investors
RIYADH: More than 60 investors have come forward to invest over $3 billion in Saudi Arabia’s King Salman Energy Park. In 2018, Crown Prince Mohammed bin Salman established SPARK as a fully integrated industrial ecosystem in the eastern province. It stands as a hub for the energy sector delivering solutions to companies across Saudi Arabia. […]
Saudi Insights: Qiddiya Dragon Ball Theme Park Project awarded to US firm
Saudi Minister visits US to strengthen industrial ties RIYADH: Minister of Industry and Mineral Resources of Saudi Arabia, Bandar Alkhorayef, is visiting the United States with the aim to boost cooperation in industry and mining, attract investment and explore opportunities in aviation and space. He will visit New York, California and Nevada, ending his visit […]
Ajman’s exports to Saudi Arabia increase by 29%
RIYADH: Ajman’s exports to Saudi Arabia rose by 29% in 2023, totalling 859.8 million dirhams ($ 234 million), with Saudi Arabia being the leading export destination, with 14% of the total export value. In the first half of 2024, exports totaling 397.6 million dirhams, this strengthens commercial relations and economic relationships among the two regions. […]
Saudi Cement sales up by 2%, reaching 10.85 m tonnes
RIYADH: Cement sales in Saudi Arabia in Q2 2024 went up to 10.85 million tonnes, with 95% sold domestically while the 5% exported. Al-Yamama Cement held 12% market share while Qassim Cement took the second position with 10% market share. The cement market value reached $ 1.07 billion in 2023 with an average growth of […]
