Saudi Arabia Extends Financial Support to Lebanon Amid Crisis Saudi Arabia has stepped in to support Lebanon by funding urgent development projects as the country navigates complex economic and political challenges, as well as the repercussions of conflict with Israel in the southern region. According to Al Arab, a joint memorandum of cooperation was signed, […]
Saudi Arabia’s Luxury Property Push: Trump Tower and More It’s full steam ahead for Saudi Arabia’s Neom megacity, but the kingdom is also green-lighting other luxury projects. On Monday, property developer Dar Global, the international arm of Saudi developer Dar Al Arkan, announced a new deal to develop a residential project in Jeddah in collaboration […]
Oman has ascended five spots to rank 53rd globally and 4th regionally in the 2024 Competitive Industrial Performance (CIP) Index, as released by the United Nations Industrial Development Organization. The CIP Index evaluates the industrial competitiveness of 153 economies worldwide, and Oman’s rise is attributed to significant investments in technology, automation, and supply chain improvements. […]
Saudi Arabia has witnessed a remarkable increase in its current account surplus, which surged to $7.6 billion (SAR28.6 billion) in the first quarter of 2024. This represents a significant 75.46% rise from the previous quarter, primarily driven by robust services exports. According to data from S&P Global Market Intelligence, the country’s services exports reached $15.64 […]
Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman, announced on Monday that Saudi Aramco has made significant discoveries in the Kingdom’s Eastern Province and Empty Quarter. According to the Saudi Press Agency (SPA), these discoveries include two unconventional oil fields, a reservoir containing light Arabian oil, two natural gas fields, and two natural gas reservoirs. […]
n the first quarter of 2024, Saudi Arabia experienced a 5.6 percent rise in net foreign direct investment (FDI) flows compared to the same period in the previous year. Data from the General Authority for Statistics (GASTAT) reveals that net FDI flow reached SAR9.5 billion ($2.53 billion) in the first three months of 2024, up […]
Net foreign direct investment (FDI) inflows to Saudi Arabia rose by 5.6 percent to 9.5 billion riyals ($2.53 billion) in the first quarter of 2024, according to government data released on Sunday. Compared to the previous year, inflows increased by 0.6 percent to 17 billion riyals in the first three months, while outflows decreased by […]
Kuwait’s wealth fund, managing over $800 billion in government assets, is set to open an office in Saudi Arabia to enhance ties between the OPEC-member states. The Kuwait Investment Authority (KIA) board decided to establish a representative office in Saudi Arabia to “contribute to enhancing trade and investment exchange” between the two nations, stated KIA […]
Saudi Arabia has reached the midpoint in its journey towards Vision 2030, announced Faisal Al Ibrahim, the Saudi Minister of Economy and Planning, during a dialogue session in Dalian, China, as reported by Saudi financial news portal Argaam.com. Speaking at the annual meeting of the New Champions Dalian 2024, an initiative of the World Economic […]