Saudi Arabia’s non-oil exports up 3.3%: GASTAT
Saudi Arabia’s non-oil exports, including re-exports, saw an annual increase of 3.3 percent in the first quarter of this year, official data showed. According to the latest report released by the General Authority for Statistics, the value of re-exported goods increased by 31.5 percent during the same period, while national non-oil exports, excluding re-exports, decreased […]
Lebanon’s reforms insufficient for recovery, IMF says
Lebanon’s economic reforms are insufficient to help lift the country out of its economic crisis, the International Monetary Fund said on Thursday. Ernesto Ramirez Rigo, the head of the IMF mission visiting Lebanon, said in a statement that Lebanon’s ongoing refugee crisis, fighting with Israel at its Southern border and the spillover from the war […]
Italy’s Fincantieri launches Saudi shipbuilding unit to strengthen collaboration
Italian shipbuilder Fincantieri plans to enhance collaboration with Saudi Arabia through a newly established unit, the company said. Fincantieri Arabia will bolster the Kingdom’s Vision 2030 development agenda in the cruise, defense, and offshore sectors, the group disclosed in a press release, issued on the sidelines of an industrial conference in Riyadh. Fincantieri is the only […]
Saudi aviation sector surges with over $20bn in deals at Riyadh forum
Saudi Arabia’s aviation sector received a major boost with over 100 agreements, exceeding SR75 billion ($20 billion), signed during the first two days of the Future Aviation Forum. The Riyadh event saw the signing of 102 memorandums of understanding and deals, ranging from aviation services to aircraft procurement, cargo and logistics services, and advanced air […]
Saudi Arabia rises 9 spots in WEF’s global tourism index
Saudi Arabia has climbed nine spots to rank 41 on a global tourism index – marking the Gulf region’s largest improvement – thanks to its strengthening infrastructure, corporate presence, and major business centers. According to the World Economic Forum’s Travel & Tourism Development Index report, Saudi Arabia has recorded the most significant improvement in the Middle East and […]