Amidst forecast of economic recovery of Saudi Arabia, a few sectors that have driven the Kingdom's Q2 growth include real estate, manufacturing, wholesale, retail and hospitality.

Moody’s, the bond credit rating firm, has upgraded the Baseline Credit Assessment (BCA) of Saudi Arabia’s stc, saying it has maintained “very strong financial metrics.

From 2018 to 2022, the private-sector healthcare spending is forecast to increase at a cumulative annual growth rate (CAGR) of 9.5 percent

DUBAI: As many as 23 factories that will manufacture solar panels and systems will be set up across Saudi Arabia, according to Saudi Authority for Industrial Cities and Technology Zones (Modon). The plants will be established in 12 industrial cities, including Riyadh, Sudair, Al-Kharj, Dammam, Jeddah, Al-Madinah and Al-Baha as...

The workshop discussed the most prominent ways to expand the current investments in line with Saudi Vision 2030.

Saudi Arabia will invest $6.4bn in waste recycling over the next fifteen years in order to move to a more sustainable waste management system.

There has been a massive growth in content creation and learners' demand in last two years as the pandemic puts focus the importance of e-learning in the region.

Top Saudi banks have seen strong growth in the second quarter of the current fiscal in financing and deposits. According to Alvarez & Marsal, the professional services firm, core operating income rose 8.4 percent from the first quarter to the second quarter of 2021, while L&A increased by 13.1 percent...

The Saudi company will undertake ground handling services for flydubai.

The Saudi economy, as per IMF, is recovering "well" from the pandemic, estimating the kingdom's non-oil economy will grow by 4.3 percent this year. The Kingdom's GDP, which rose from US$ 701.5 billion in 2020, is likely to hit to US$ 804.9 billion by the end of 2021.

Filipinos living overseas have sent back some $3.8 billion in July with most of the remittances coming from the Middle East.

Saudi Arabia is aiming to give a boost to local industries and in this regard Aramco and McDermott, the US-based contractor, are looking at the feasibility of localizing onshore modular construction.

Gold prices reached record levels in 2020 following an increase in investor appetite because of COVID-19. The price of yellow metal decreased slightly at the beginning of 2021, but in recent months it returned to its previous level with expectations of growth in the latter half of the year.

Saudi Arabia and South Africa are looking to boost trade after a year of slump that saw imports from the kingdom fall to a four-year low in 2020.

Days after securing a $125 million Series B funding from SoftBank, the Saudi startup, Unifonic, says that it wants to be profitable first before listing on a stock market.

Saudi Arabia is confident that its new mining law will lure private investment from the kingdom as well as abroad as it seeks to exploit an estimated $1.3 trillion of potential value in the sector.

A Dubai-based think-tank has said that as many as 254 start-ups, mostly from the UAE, Saudi Arabia, and Egypt, have attracted a record-breaking funding in 2021.

PSG boasts a stellar line-up, with the likes of Lionel Messi, Neymar, Kylian Mbappé, and Sergio Ramos taking to the field in its colors.

The strong demand for cloud computing in the Gulf region is driven by efforts of the member states to diversify economies, a young digital society and increasing digitization by firms.

Aramco has bagged a one-year contract from Guyana to market the crude oil produced in the South American country.

Looking to protect many sectors of its economy from the competition that the foreign companies will present, Saudi Arabia has formed a new committee to regulate foreign investments.

Bunyan United Company, the Saudi Arabia-based real estate firm, has tapped BMG Financial Group as its advisor for its upcoming listing on Nomu, a parallel market in the Saudi stock exchange.

Saudi Arabia has awarded a $95.4 million contract to a consortium to manage water services and environmental treatment in Riyadh.

Under the deal, US will provide 350 contractor technicians and two government officials over two years to handle the maintenance of the Saudi military's Apache and Black Hawk attack helicopters.

The region’s industry executives are working hard to improve the dented image and put the sector back on track by attracting more foreign investors.

The UN body has registered the Farasan Island Marine Sanctuary in its Man and Biosphere Program.

The IPO order book 130 times oversubscribed during the book-building process.

Inflation in Saudi Arabia is on the decline for the second month consecutively, dropping to the lowest level since June 2020.

DUBAI: The UAE's non-oil trade rose to AED 1.403 trillion ($371 billion), reflecting the country's robust trade exchanges despite the negative impact of the Covid-19 pandemic The Federal Center for Competitiveness and Statistics (FCSA) data said the UAE commanded a coveted position globally and regionally in merchandise trade, with its...

ACWA Power of Saudi Arabia intends to raise nearly $1.2 billion through Initial Public Offering (IPO), and in this regard it has set an indicative price range of the IPO.

A Saudi court sentenced twenty four Saudis and foreigners to up to 20 years in prison for laundering nearly $4.50 billion. The criminal gang channeled illicit funds through factories, companies, institutions and medical clinics.

Gulf Islamic Investments (GII) of Dubai is looking to pick up a stake in a Saudi healthcare company for $600 million. It is part of the financial services firm’s expansion strategy in the kingdom.

Halliburton, the US oil field service giant, is in the final stages of building the first reactor plant for the manufacture of chemicals in King Salman Energy City “Spark” in Jubail, and production will begin in the first quarter of 2022.

Prominent media houses that have announced plans to move their base from Dubai to Riyadh include the state-owned Al Arabiya and its sister channel Al Hadath owned by the MBC Group and the recently-launched Asharq news channel.

DUBAI: Saudi Arabian insurance sector showed overall positive developments during Q2 as gross written premiums (GWPs) grew by 8.1 percent to reach 9.4 billion compared to 8.7 billion SAR in the corresponding period last year, Saudi Central Bank SAMA said. GWP is used to measure an insurance’s company’s revenue health....

The project linking the six GCC countries is expected to boost exports, diversify mode of transportation and reduce carbon emissions by cutting the need for trucks and cars.

The value of exports of national origin of Bahrain increased to BD386 million ($1.06 billion) in August 2021, compared to BD190 million ($505.32 million) in August 2020.

GASTAT announced this increase while making public the country’s GDP and National Accounts report for the second quarter of 2021. It said this positive growth resulted mainly from the increase in the non-oil sector by 8.4 percent. The private sector recorded a positive growth rate of 11.1 percent, and the...

The Ras Al Khair plant produces 1.05 million cu m of desalinated water per day and generates 2.65 GW of power.

Sidra Capital, the Saudi Arabia-based investment firm, has bought an office building in the United Kingdom for $26 million.

Flights between Sharjah and Riyadh, Jeddah and Dammam to start from Sep 14

Analysts say the balance has tilted in favour of the Huthi rebels against the Saudi-led military coalition

The SWFs of Abu Dhabi, Kuwait and Qatar have underpinned the resilience of their sovereign ratings despite lower oil prices and COVID-19 shock.

The Saudi Vision 2030 has unlocked investment opportunities worth SAR12 trillion (€2.7 trillion or $3.2 trillion).

Surge in trade activity in Dubai has lifted the value of exports, re-exports.

The MENA region will have 80 million 5G subscriptions, representing about 10% of total mobile subscriptions by 2025, according to the latest Ericsson Mobility research.

Saudi Arabia’s e-invoicing project, Fatoorah, will come into force in a little under three months, according to Zakat, Tax and Customs Authority (ZATCA).

IATA Travel Pass is a personal secure digital wallet solution that helps travellers understand travel requirements and present their verified travel health credentials. More than 80 airlines have announced trials of the IATA Travel Pass and the app is accepted for entry by a number of governments.

The first Middle East Poultry Exhibition and Conference will be held under the theme Contribution of Enhancing Food Security.

In a statement to Arabian Business, the carrier confirmed that passenger flights would recommence between Abu Dhabi and Saudi Arabia from Saturday, with services connecting the UAE capital with Dammam, Jeddah and Riyadh.