• Reforms help Saudi banking sector post robust growth

    The financial sector plays vital role in the Kingdom's economy, with a 9.5% surge in operating income and 10.9% increase in non-interest income in FY 2023, says a report.
  • Foreign investments boost Saudi financial market

    Saudi Arabia's financial market is on an upward trajectory, fueled by substantial foreign investments and strategic economic diversification under Vision 2030.
  • GCC records surge in women’s workforce participation

    Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS report suggests.
  • Stable credit conditions make GCC firms resilient

    Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a report.
  • Saudi Tourism Authority, Trip.com Group sign global agreement

    BERLIN, GERMANY – Saudi Tourism Authority (STA) and Trip.com Group have announced a significant global partnership, which will drive greater inbound tourists to Saudi Arabia as part of its Vision 2030 program. The joint effort aims to bring over 350 thousand additional tourists to Saudi over the course of the...
  • Saudi Arabia transfers 8% Aramco stake to PIF-owned firms

    Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's PIF sovereign wealth fund, according to state media. Aramco is the main source of revenue for Crown Prince and Prime Minister Mohammed bin Salman's ambitious economic and social reform program...
  • Vision 2030 empowers women in Saudi legal sector

    "The progressive momentum generated in the past decade fills us with positivity and reassurance in the Kingdom, where we have seen the first cohort of female lawyers graduate in 2008, the first female lawyers admitted to the courts in 2013, and the first female arbitrator appointed by the Saudi Center...
  • Saudi real estate sees new era of growth, innovation

    The Kingdom's property sector is driven by a projected $3 trillion GDP by 2030 and evolving consumer preferences towards homes equipped for remote work and wellness.
  • Diversification helps GCC surge in global markets

    Gulf economies are witnessing transformative growth and resilience with the UAE, Saudi Arabia, and Qatar leading the way in global competitiveness, says a report.
  • At 10% growth, Saudi banking sector shows resilience

    With Vision 2030 steering the economic diversification, Saudi banks face challenges and opportunities in liquidity, asset quality, and navigating geopolitical risks.
  • Gulf realty navigates opportunities and challenges

    The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a latest report.
  • Average lifespan in Saudi Arabia rises to 77.6 years  

    Riyadh, Saudi Arabia — Average life expectancy in Saudi Arabia reached 77.6 years compared to 74 years in 2016, the Health Sector Transformation Program (HSTP), a component of the Vision 2030 initiative, has revealed. The program attributes the remarkable progress to a series of strategic efforts, notably the incorporation of...
  • Saudi Arabia leads GCC in project awards this year

    The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value, according to a latest report.
  • Saudi startups soar amid surge in venture investments

    Saudi Arabia, which secured over 50 percent of MENA's total venture investments in 2023, strategically focuses on financial technology to support Vision 2030,
  • PIF’s diverse investments transform Saudi economy

    From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future for the the Kingdom's economy.
  • UAE startups eye Saudi Arabia for growth, expansion

    With both nations offering substantial markets and supportive environment for innovation, startups are exploring new opportunities in the Kingdom.
  • UAE startups eye Saudi Arabia for growth, expansion

    With both nations offering substantial markets and supportive environment for innovation, startups are exploring new opportunities in the Kingdom.
  • SRC, Alrajhi extend refinancing pact

    The agreement was extended by an additional $1.54 billion.
  • Nationalization efforts transform Saudi workforce

    Saudi Arabia's ambitious nationalization initiative has significantly impacted its labor market, with the Kingdom experiencing a historic low unemployment rate of 8.6%.
  • IPOs, investments help GCC markets prosper in 2023

    Regional markets are reflecting a transition from oil dependency to diversified economies with six IPOs raising $419 million in in Q3 2023, led by Saudi Arabia and Qatar.
  • GIB, KSA wrap up Sukuk debut

    Gulf International Bank is a merchant bank in the Middle East
  • Strategic investments accelerate KSA’s esports market

    Vision 2030 is fueling Saudi Arabia's esports surge, with NEOM World Cup 2024 set to elevate its status as a global digital entertainment leader.
  • Saudi Arabia expects budget deficits in 2023 and 2024 as spending rises

    The announcement comes one year after the Gulf kingdom, the world's biggest crude exporter and the Middle East's largest economy, recorded its first budget surplus in nearly a decade in the wake of Russia's invasion of Ukraine which led to a boom in oil prices.
  • Gulf leads the charge in green mobility revolution

    In the heart of the GCC, a transformative shift towards 'Green Mobility' is underway, driven by a commitment to environmental sustainability and reducing carbon footprints.
  • Riyadh comfortably outbids rivals to win World Expo 2030 bid

    The date of 2030 is hugely symbolic for Saudi, coinciding with the key milestone in the Vision 2030 programme of MBS to diversify Saudi Arabia economically and culturally. The Riyadh Expo is set to take place from October 2030 to March 2031 on the theme "The Era of Change: Together...
  • It’s official: Saudi Arabia will host World Expo 2030

    The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness, and global connectivity.
  • It’s official: Saudi Arabia will host World Expo 2030

    The Kingdom's selection as the host for World Expo 2030 marks a pivotal moment in its journey towards innovation, openness, and global connectivity.
  • Aramco profits down

    The oil giant posted a 23% drop in profits for Q3 to US$32.58bn.
  • Saudi Arabia to produce 80-90% insulin domestically

    "More than 200 essential medications have been identified, making up about 40 percent of the total purchases by government health institutions, totaling roughly SAR14 billion (US$3.73 billion). Efforts are currently in progress to produce some of these medications locally," the Saudi minister adds.
  • Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector

    Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and services to the kingdom's healthcare sector. As per the terms of the agreement, Agility and MISA will explore four areas of collaboration in the healthcare sector. This includes the potential...
  • Saudi Arabia’s economy exceeds US$1trn mark

    RIYADH, SAUDI ARABIA – The gross domestic product of the Kingdom exceeded US$1 trillion which displays strong progress towards meeting its Vision 2030 targets, a report revealed. Saudi Arabia's non-oil private sector is leading in growth for 2023, having accelerated to 5.8 percent year-on-year (yoy) in Q2 2023 and is...
  • KSA, Kuwait lead as Islamic banking prospers in GCC

    With the support of Vision 2030 projects and a surge in real estate lending, the banking sector's performance in the Gulf region has been commendable, says a report.
  • Saudi non-oil GDP growth to be strong despite oil cuts

    Tourism and entertainment sectors are likely to help Saudi Arabia's non-oil GDP grow robustly in the coming years, despite a 6.5% drop in oil production, says a report.
  • Vision 2040: Saudi Arabia’s new economic blueprint

    Saudi Crown Prince Mohammed bin Salman recently unveiled glimpses of the audacious Vision 2040 that will focus on green hydrogen, clean energy, and technology advancements.
  • Saudi Arabia launches new TV channel to highlight ‘rapid progress’

    Riyadh, Saudi Arabia-- Saudi Broadcasting Authority (SBA) has launched a new TV channel called Saudia Alaan (Saudi Now) to highlight the kingdom’s “rapid progress” towards the Saudi Vision 2030 and its recent advancements. The ceremony, held under the patronage of the Minister of Media and Chairman of the Board of...
  • Urban developments transform Saudi realty

    The exhibition saw the launch of massive real estate ventures, including integrated, modern cities, with a combined investment of around $18.3 billion. Some of the these projects are nearing completion.
  • Global ambitions fuel Qatar’s investment momentum

    Qatar Investment Authority, with a diversified $450 billion portfolio across 60 countries, is adeptly poised to tackle global economic hurdles and seize expansion prospects.
  • Project reuse helps UAE boost sustainability drive

    Amid UAE's urban expansion, there's a wealth of structures across the country ripe for revitalization, significantly offsetting the environmental impact of new developments.
  • Deals with India add pace to Saudi diversification

    Riyadh and New Delhi set a new benchmark in global trade and cooperation with 53 deals across diverse sectors and plans for an economic corridor from India to Europe.
  • Mega projects bet high on diversified future

    This TRENDS infographic dives into Saudi Arabia’s ambitious transformation to discover how the Kingdom is reshaping its future with high investments in the real estate sector and infrastructure projects.
  • Saudi Arabia’s economy and fiscal position strong due to Vision 2030: IMF

    Riyadh, Saudi Arabia-- Saudi Arabia's economy is in a state of prosperity and growth, and that the kingdom's fiscal position is strong, primarily driven by Vision 2030 which has been steadily diversifying the economy since its launch in 2016, according to the International Monetary Fund.   The IMF said in a statement...
  • Space Economy: Saudi Arabia targets stars and beyond

    From the establishment of the Saudi Space Authority to Serco Middle East's new space division in Riyadh, the Kingdom is making significant strides in the space sector.
  • Cinematic revolution helps KSA realize cultural dreams

    Saudi Arabia, shedding its conservative past, has ushered in a vibrant art and cinema era, with its box office revenue soaring to $250 million in 2022.
  • Saudi smart homes market builds on digitization drive

    Saudi Arabia's smart homes market is growing due to government backing, tech advancements, and evolving consumer tastes. As the Kingdom advances toward its Vision 2030 goals, the smart homes sector is poised to play an important role in shaping the country’s future urban landscape.
  • Saudi Arabian Crown Prince launches KAUST’s new strategy

    RIYADH, SAUDI ARABIA - Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Prime Minister and Chairman of KAUST Board of Trustees, launched on Sunday a new strategy of the university. The strategy aims to transform research into economically productive innovations by focusing on the national priorities for research, development,...
  • Saudi Arabia executes US national convicted of killing Egyptian father

    The death sentence for Bishoy Sharif Naji Naseef was carried out in the Riyadh region, the official Saudi Press Agency said. The Gulf kingdom is frequently criticised for its prolific use of capital punishment, which human rights groups say undermines its bid to soften its image through a sweeping "Vision...
  • Saudi Arabia’s PIF creates 181,000 jobs in 2022, boosts economy

    Saudi Arabia's employment figures received a significant boost in 2022, thanks to the efforts of the Public Investment Fund (PIF), which set up 25 companies and created 181,000 jobs during the year, latest official data has pointed out. The 2022 annual report of the PIF highlighted the establishment of a...
  • Saudi Arabia aims for 30% marine reserves by 2030

    Dr Faqeeha commends the G20's support for the global platform CORDAP (Collaborative Action on Coral Reefs and People), which was launched during the Kingdom's G20 presidency. CORDAP aims to accelerate research and development for coral reefs globally and strengthen preservation and restoration efforts.
  • Expo bid validates Saudi Arabia’s diplomatic skills

    While challenges remain in Saudi Arabia's bid for the Expo 2030 despite increasing global support, the Kingdom seems determined to continue its journey of transformation, with or without the Expo, marking a new era for Saudi Arabia on the international stage, the India-based journalist adds.
  • Travel companies give wings to Saudi tourism aspirations

    Fueling this ambition is an intricate web of travel companies, including tour operators, airlines, accommodation providers, cruise lines, and destination management companies. These firms are crucial cogs in the grand tourism machine, each contributing in unique ways towards marketing Saudi tourism and wooing tourists.