Saudi Arabia: Daily Business Update.

RIYADH: Jubail Industrial City in Saudi Arabia has launched the world’s largest integrated smart irrigation network, according to the Royal Commission for Jubail and Yanbu (RCJY). This advanced irrigation system is controlled by a central hub that oversees more than 12,200 smart devices and handles nearly 1.2 million signals every day. The network spans 11,600 km […]

RIYADH: Saudi Arabia is rapidly advancing the adoption of Artificial Intelligence (AI) and immersive technologies, including augmented reality (AR) and virtual reality (VR) to reshape its tourism industry as part of the Vision 2030 plan. The Kingdom is incorporating smart technologies in major locations, including key projects such as Neom, the Red Sea Project, Diriyah, […]

RIYADH: Saudi Arabia’s non-oil revenue increased by 6.6% in the second quarter of 2025 compared to the same quarter last year, totalling SAR 149.86 billion ($39.96 billion). This is the first time that non-oil revenue is almost equal to the oil revenue. Non-oil revenues made up about 49.7% of the total government income. It’s a […]

RIYADH: Saudi Arabia has become the first nation in the region to implement OpenAI’s newest open-source models – gpt-oss-120B and gpt-oss-20B – through a partnership with HUMAIN, a company supported by the Public Investment Fund, and the US AI hardware company Groq. The OpenAI models are now fully functional on Groq’s ultra-high-speed inference platform, housed […]

RIYADH: Saudi Arabia’s non-oil sector showed strong growth in the first half of 2025, even though the Purchasing Managers’ Index (PMI) for July reflected a slight slowdown in expansion. The non-oil GDP growth rate was around 4.7% in Q2 2025, slightly lower than 4.9% in Q1, indicating steady growth in key sectors such as construction, hospitality, […]

RIYADH: Saudi Arabia’s Industrial, Logistics Sectors added SR986 billion ($263 billion) to the non-oil GDP in 2024, representing 39% of the non-oil economy, as per the National Industrial Development and Logistics Program (NIDLP). This is a significant increase from SR949 billion ($253 billion) in 2023, indicating the continued influence of NIDLP in promoting the economic […]

RIYADH: The Saudi Data and Artificial Intelligence Authority (SDAIA) entered into an agreement with Shareek, Saudi Arabia’s Private Sector Partnership Reinforcement Program, to promote innovation in artificial intelligence (AI), big data, and cloud computing in the Kingdom. The partnership was officially announced at the Digital Saudi Exhibition, part of the economic affairs meeting organised by […]

RIYADH: Saudi Arabia granted 1,346 new Industrial Licenses in 2024, bringing in over SR50 billion ($13.3 billion) in new investments, as per the recent report from the Ministry of Industry and Mineral Resources. These licenses are expected to generate over 44,000 new jobs throughout the Kingdom. The ministry’s analysis also indicates that 1,075 factories started […]

RIYADH: Saudi Arabia will now permit foreigners to own property in certain areas from January 2026, after a landmark decision made by the Saudi Cabinet on July 8, 2025. The new law is part of the kingdom’s efforts to attract foreign investment (FDI) and support its Vision 2030 strategy to shift the economy beyond oil […]

RIYADH: Saudi Arabia introduces a new permit system focused on skills to attract foreign talent and align foreign workers with the Kingdom’s economic goals. Ahmed Al-Rajhi, Minister of Human Resources and Social Development announced the initiative, classifying expatriate workers into three categories: high-skill, skilled, and basic. Classification depends on factors such as qualifications, experience, technical […]

RIYADH: Saudi Arabia’s Public Investment Fund (PIF) has launched a new company, Expo 2030 Riyadh Co., which will be in charge of developing, managing, and running all aspects of the country’s first World Expo. The event is scheduled to take place from October 1, 2030, to March 31, 2031, on a 6 million square meter […]

RIYADH: Saudi Arabia’s seaports saw a significant increase in May 2025, managing 720,684 twenty-foot equivalent units (TEUs), a 13% rise compared to the same month last year, as reported by the Saudi Ports Authority (Mawani). This increase was a result of higher volumes in imports, exports, and transhipment activities. Imported containers increased by 15.84% to […]

RIYADH: Saudi Arabia’s Ministry of Human Resources and Social Development has recommended new penalties for offences against Labour Law and its rules. Minister Ahmed Al-Rajhi announced this update, which aims to clarify and define offences more clearly for both businesses and inspectors. This goal is to lessen personal bias in enforcement, increase transparency and adapt […]

RIYADH: The Saudi-US Investment Forum, took place on May 13, 2025, making it a key milestone in the growing economic partnership between Saudi Arabia and the United States. Top leaders from both countries, including key business figures such as Elon Musk attended the event, to discuss the kingdom’s ongoing economic transformation under Vision 2030. Uber […]

RIYADH: Jeddah Municipality announced 29 new real estate investment projects, totaling over 1.4 million square meters, aimed at commercial, industrial, residential, and recreational sectors. The program has 13 commercial projects, which includes the construction and management of retail shops and commercial complexes in various regions. Furthermore, two key container projects are planned – an integrated container […]