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.
All projects under Saudi Vision 2030 ‘colossal’
The number and value of mega projects set to transform the country’s real estate landscape and showcase the kingdom’s vision for an ultra-modern future to the world, says Knight Frank. Neom, a project for a smart and tourist cross-border city in the far north-west of Saudi Arabia, alone will cost...
Saudi Arabia to create million tourism jobs by 2030
Saudi Arabia has developed cultural, heritage tourism projects in more than 25 tourist destinations and eyes 100 million tourists by 2030.Saudi Arabia’s non-oil economy to grow 4.3%
The investments by the Public Investment Fund contributed to the economic recovery Last year, Saudi's economy suffered a double whammy of crashing oil prices and Covid-19 pandemic Saudi Arabia's bid to diversify its economy away from oil is beginning to show results with its non-oil economy set to expand by...
Saudi Arabia plans new national airline
New carrier would push SA into the 5th rank globally in terms of air transit traffic The move is part of plan to diversify kingdom’s economy away from oil Saudi Arabia's Crown Prince Mohammed bin Salman announced plans on Tuesday to launch a second national airline as part of...
Saudi Arabia National Housing and Bank Albilad in $533 m deal for infrastructure
The deal is part of the Saudi Vision 2030 to give more ownership of homes to Saudi families  CEO Bank Albilad Abdullah AlOnaizan said the bank has assets of $26.66 billion Saudi Arabia National Housing Company and Bank Albilad have teamed up to sign a SR 2 billion ($533 million)...
Red Sea International appoints Khalid Fagih as MD and CEO
RSI banking on Khalid's 26-year track record to catapult its operations by developing products and services, improving performance Company had won two contracts in the massive US$500-billion NEOM project in 2020 The Red Sea International (RSI), a leader in offsite modular production and assembly, has appointed industry veteran Khalid...
Saudi Vision 2030: What’s next?
By Gianmario Pisanu In 2015, the Kingdom of Saudi Arabia launched Vision 2030, an ambitious reform plan aimed at diversifying the economy by moving away from oil and encouraging the development of stronger private and public sectors. The plan streamlined and centralized decision-making to ensure better coordination between ministries and...