Saudi Arabia: Daily Business Update.

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

RIYADH Saudi Arabia 8217 s NEOM Green Hydrogen Company NGHC is advancing rapidly on the development of the world 8217 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 hellip

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 hellip

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 hellip

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 hellip

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 hellip

RIYADH Saudi Arabia is getting closer to its goal of becoming a Cashless society as the country recorded 98 in person contactless transactions a rise from 4 recorded in 2017 as stated by Visa s regional president Andrew Torre Government support consumer demand and visa initiatives have all contributed to this rapid growth aligning with Saudi Arabia s Vision hellip

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 23rd October to 28th October 2024 IMF forecasts 4 6 growth for Saudi economy highest among GCC by 2025 RIYADH Saudi Arabia s economy is expected to increase by 1 5 in 2024 and 4 6 in hellip