Saudi Arabia: Daily Business Update.

RIYADH LEAP 2025 highlighted some revolutionary technologies that have potential to shape industries and the future The event showcased advancements in AI smart contact lenses and wearable technology AI and Robotics SARA Aramco s AI powered voice assistant was introduced by the Saudi Accelerated Innovation Lab SAIL which is created for secure and industrial use SARA hellip

RIYADH LEAP 2025 Saudi Arabia s flagship technology event starts on February 8th in Riyadh bringing together innovators investors and business leaders from around the world The event follows Leap 2024 which brought in $13 4 billion in investments and project commitments LEAP 2025 under the theme Into New Worlds aims to boost Saudi Arabia as hellip

RIYADH Saudi Crown Prince Mohammed bin Salman officially launched an automotive manufacturing hub King Salman Automotive Cluster in King Abdullah Economic City KAEC This initiative aspires to make Saudi Arabia a key player in the global automotive industry The cluster will be a hub for both local and international companies with manufacturing facilities and hellip

RIYADH Saudi Minister and India are strengthening their trade and investment relations with an emphasis on industrial and mining collaborations A High Level Delegation led by Saudi Industry Minister Bandar Alkhorayef arrived in India for a four day visit to discuss key partnerships in petrochemicals pharmaceuticals and automotive sector The delegation consists of officials from the Ministry of hellip

RIYADH Saudi Contractor Umm Al Qura for Development and Construction Co is going ahead with its IPO to support its Masar Destination project in Makkah worth $26 6 billion The company s application has been accepted by the Capital Market Authority allowing to issue over 130 million new shares showing 9 09 of its post capital increase shares The 3 5 hellip

RIYADH Saudi Arabia s real estate sector will grow significantly as leaders investors and policymakers came together at the Real Estate Future Forum held in Riyadh to discuss significant projects and investments Asir Gov Prince Turki bin Talal declared that the Public Investment Fund PIF led the nine major projects in the region with four already hellip

RIYADH Saudi Arabia now allows foreign investment in real estate companies especially those with properties in Makkah and Madinah The Saudi Capital Market Authority CMA announced this decision which aligns with Vision 2030 which aims to diversify the economy and boost foreign investment Even though foreigners can invest in shares or convertible debt of hellip

RIYADH Saudi Arabia s hosting of the FIFA World Cup 2034 will have a positive effect on the economy and stock market according to a report by SNB Capital The event is expected to raise the nation s non oil GDP by 4 5 in the medium term supporting Vision 2030 s goals of diversifying the economy by reducing dependency on hellip

RIYADH Saudi Arabia has launched a new service Exemption for Export to boost its industrial sector s global competitiveness This initiative was launched by the Saudi Export Development Authority in collaboration with the Ministry of Industry and Mineral Resources to provide customs duty exemptions for industrial inputs used to make exports goods The initiative will support hellip

Saudi Arabia celebrates after being named as host for FIFA World Cup 2034 RIYADH Saudi Arabia is celebrating its win as the FIFA World Cup 2034 host by conducting events and festivities nationwide Citizens and residents are encouraged to show their pride and excitement by wearing football jerseys and sharing picture perfect moments online by hellip

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 hellip

RIYADH In 2023 Saudi Arabia rose its research and development R amp 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 amp D workforce hellip

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 hellip

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 hellip

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 hellip