Despite a 3.9 percent increase in the food and beverage sector and a generally mixed week for the Saudi Stock Exchange, trading finished on Friday in the red.

The Kingdom of Saudi Arabia has progressed in the education, research, and innovation indicators per the World Competitiveness Yearbook 2022 report, issued by the Global Competitiveness Center of the International Institute for Management Development (IMD).

The company, in a statement, said it exported two meat shipments to Egypt in March and July.

Twelve new service and collision repair centers will be set up in Saudi.

This is the second largest mortgage refinancing deal in the kingdom.

Saudi Arabia and Uzbekistan have signed an agreement to develop cooperation and exchange information and experiences in all fields of energy though research and studies besides working on exchanging policies and laws related to these. The agreement was signed by the acting Minister of Energy Dr. Essam bin Saad bin...

The companies are also developing projects in Morocco, the UAE and Bahrain, along with Egypt and Jordan.

There are 3,010,679 tickets available altogether, with FIFA saying a "last-minute" sales period will open in the run-up to the start of the tournament at a date still to be confirmed.

More than 71 varieties of dates were on display in the auction arena of the Food City during the Onaizah International Dates Season, which is organized by the Chamber of Commerce in Unaizah in partnership with the Onaizah Municipality and the office of the Ministry of Agriculture, Environment and Water...

The retailer said the profit soared due to growth in sales.

The gold and jewelry sector in Saudi Arabia has recorded a 36 percent growth in sales as the economy shows signs of recovery

GCC countries have witnessed financial surpluses in their budgets for the first time in a long time on the back of increase in oil prices, strengthening their credit ratings.

The government's Vision 2030 reform programme, designed to reduce the kingdom's dependence on oil, has also given the economy a boost as more Saudis join the workforce, particularly women, the IMF said.

Travel recovery witnessed in the UAE and Saudi Arabia has been very strong, according to a survey of nearly 2,000 travel enthusiasts conducted by Collinson.

The Fund purchased 1.8 million shares of Microsoft, 4.7 million class A shares of Zoom, and 213,000 class A shares of Alphabet.

ACWA Power Company will join hands with Uzbekistan in order to enter into  a $2.4 billion deal for a 1,500-megawatt wind project, a bourse filing disclosed.

The healthcare company saw its profit vault to $40m in H1.

The Saudi firm posted a 73% fall in profit to $14m in H1.

Iraq plans to establish free-trade zones adjacent to Baghdad and Najaf airports and another one near the Iraqi-Jordanian border, which is part of a joint economic city and one of the most important future projects. The country is also working to open free-trade zones near the Iraq-Saudi Arabia border.

The new ACH160 is one of the world’s most technologically advanced helicopters with a new rotor blade design that results in significantly reduced noise, according to a statement posted on LinkedIn.The company will obtain six new ACH160 helicopters, with the first being set to join the fleet early in 2023.

The agriculture output in 2017 was estimated at $17.41 billion, around $17.48 billion in 2018, and $17.65 billion in 2019, and $18 billion in 2020.

Bahrain and Saudi Arabia have discussed ways to enhance technical cooperation in the areas of job localization programs and labor market regulation, as well as plans to integrate job seekers and develop human resources. The discussion took place during a meeting between Bahrain’s Minister of Labor and Chairman of the...

The Group is planning a new acquisition in Egypt.

Saudi Arabia’s inflation rose to 2.7 percent in July 2022 compared to June, according to the General Authority for Statistics (GASTAT). Cost-of-living index for July rose to 107.20 points, according to the base year 2018, compared to 104.41 points in July 2021. The inflation is measured by the change percentage...

Saudi Arabia’s Real Estate Development Fund has signed more than 58,000 financing contracts for the kingdom’s various housing support programs during the first half of 2022. Mansour bin Madi, CEO of the Real Estate Development Fund, said one of the goals of the kingdom's transformative Vision 2030 is to raise...

The 89.49% stake in Giza Systems will cost it $158m.

The study highlighted how the government sector in the kingdom has almost completely converted to electronic payment methods for all outward payments to individuals, business establishments or other government agencies.

Real GDP increased at a growth rate of 11.8% in Q2 2022, driven by the significant increase in oil activities by 23.1% while the non-oil activities increased by 5.4%

The profit fell to $5m in HI due to rising cost of raw materials.

The Saudi Central Bank (SAMA) said a study revealed that electronic payments increased from 44 percent in 2019 to 62 percent of all payments by volume in 2021.

The jump in profit was driven by growth in sales of dairy.

The profit fell to $74 million in H1 in a year of record listings.

According to the Kingdom’s Unified National Platform, the Kingdom has been moving toward the Saudi Vision 2030 by developing the trade sector and ensuring its sustainability.

Amid reports of Chinese President Xi Jinping's visit to Saudi Arabia next week, U.S. President Joe Biden's administration said the US would not disappear from the Middle East. There has been speculation about the US's diminishing influence in the region as China and Saudi Arabia seek to strengthen their ties....

The money will be used to fund Egypt interconnection project.

The ministry stated that those who qualify to perform Umrah also include holders of US, UK and Schengen visas

Saudi Arabia has launched new youth programs aimed at raising the number of qualified manpower in the field of economics, public policy and social sciences. The programs, which were launched by the Ministry of Economy and Planning on the International Youth Day, seek to reduce the gap between the skills...

H1 2022 net profit increased by 232 percent

Dubai Clear, a subsidiary of the Dubai Financial Market (DFM), and the Securities Clearing Centre Company "Muqassa", a subsidiary of Saudi's Tadawul Group, will create a framework to strengthen collaboration and share knowledge on central clearing services as well as to actively explore ways of enhancing these services in line...

The Saudi firm says weapons business fueled growth.

The Saudi Egyptian company bought stakes worth $1.3bn.

More than 2.3m passengers used Saudi Railways in H1.

Saudi and the UAE's reliance on oil to drive economic growth has tapered off in recent years as the non-oil sector emerges as the biggest driver of growth.

The firm will sell its full range of products and spare parts.

Not all banks in the GCC are at the same stage of digital adoption. TRENDS reviews which ones are way ahead of the curve and which are still lagging.

The Secretary-General of the Gulf Cooperation Council (GCC) Naif Falah Mubarak Al-Hajraf condemned aggression of Israeli forces on the Gaza Strip, which resulted in multiple deaths and wounded persons. He called on the international community to act urgently to protect the civilians, especially women and children.

This expansion created new economic opportunities, narrowing the gender gap in account ownership, and building resilience at the household level to better manage financial shocks across the world, including GCC countries.

Another important and influential trend being witnessed by the banking sector in the region is reduced physical networks and shifting some of the staff to more cost-effective locations. All this allows financial institutions to serve their clientele better and provides convenience to the customers by saving their energy and time.

The establishment of over 40 financial free zones in the UAE has encouraged innovation in digital banking. The fintech market in Saudi Arabia, meanwhile, is expected to grow by 55 percent by 2033.

Saudi authorities have signed agreements with big retail stores in the kingdom to promote the ‘Made in Saudi Arabia’ program, which has resulted in some retail stores fill 70 percent of their stocks with locally manufactured products. Under the agreements, signed by Saudi Exports Development Authority, large stores allocate platforms...