Saudi Arabia: Daily Business Update.

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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: 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 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 […]

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 […]

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 […]

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 […]

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, […]