Tourist spending in Saudi Arabia hits record high of $40bn in 2023
Tourist spending in Saudi Arabia reached a record high in 2023, totaling SR135 billion ($39.95 billion), according to preliminary data from the central bank. This figure, revealed by the Saudi Central Bank, represents the highest visitor spending in the Kingdom’s history, showcasing a growth rate of 42.8 percent compared to 2022. This comes within the […]
Rize aims to boost Saudi Arabia’s rental sector
The rent now, pay later sector in Saudi Arabia is poised for considerable expansion, with startup Rize set to enhance the industry’s efficiency. Given the substantial down payment required for tenants to secure a rental property in the Kingdom, the company is seeking to foster greater sustainability within the sector. Established in 2021 by Ibrahim […]
UAE, Saudi Arabia ranked as leading global entrepreneurial ecosystems
The UAE and Saudi Arabia have been ranked first and third respectively in the Global Entrepreneurship Monitor report for 2023-2024. The report, which assesses the entrepreneurial ecosystems of countries worldwide, is highly regarded by international bodies such as the World Bank, International Monetary Fund and various UN organizations, Saudi Arabia showed significant progress in its […]
Saudi foreign minister holds call with Palestinian PM Mustafa
Saudi Arabia’s foreign minister Prince Faisal bin Farhan held a phone call on Saturday with the Prime Minister of Palestine and Minister of Foreign Affairs Mohammed Mustafa, Saudi Press Agency reported. Prince Faisal congratulated Mustafa on his appointment to form the Palestinian government, and on assuming the position of Minister of Foreign Affairs. The prince also wished success […]
Lebanese prime minister leaves after Saudi visit
Lebanese Prime Minister Najib Mikati concluded his visit to Saudi Arabia on Saturday after completing his Umrah rituals in Makkah. He was seen off King Abdulaziz International Airport by Jeddah Gov. Prince Saud bin Jalawi and the consul general of Lebanon in Jeddah, Walid Minkara, as well as a number of officials. Mikati arrived in […]
Kamco Invest Saudi partners with Flexam to introduce European leasing opportunities
Saudi investors will gain access to Shariah-compliant leasing opportunities in Europe’s logistics and transportation sectors following a partnership between Kamco Invest and Paris-based Flexam Invest. The Saudi arm of Kamco Invest, a Kuwait-based non-banking financial powerhouse, signed a memorandum of understanding at its regional headquarters in Riyadh with the European asset financing firm specializing in […]