Oil Updates — crude rises as investors return from holidays, eye China recovery
Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China’s economy and fuel demand following a pledge by President Xi Jinping to promote growth, according to Reuters. Brent crude futures rose 17 cents, or 0.06 percent, to $74.82 a barrel by […]
Entrepreneurial wave reshaping Saudi economy and global standing
Entrepreneurship in Saudi Arabia is no longer just a passing trend — it’s a driving force reshaping the Kingdom’s economy, aligned with the Vision 2030 agenda. The Kingdom’s Center for International Communications reports that 42 percent of adults plan to launch their businesses within the next three years, marking the highest rate of entrepreneurial intent […]
Saudi weekly PoS transactions close 2024 with $3.6bn in value: SAMA
Saudi Arabia’s consumer spending soared in the final week of 2024, with point-of-sale transactions climbing 17.2 percent week-on-week to SR13.8 billion ($3.6 billion), official data showed. Figures from the Saudi Central Bank, also known as SAMA, revealed significant growth across all sectors between Dec. 22 and Dec. 28, with the total number of transactions hitting 211.97 […]
International investors flock to Saudi Arabia’s expanding VC market in 2024
Saudi Arabia’s venture capital ecosystem showed remarkable growth in 2024, driven by robust government support, an influx of international investors, and a maturing entrepreneurial scene, according to industry experts. Aligned with its economic diversification strategy, the Kingdom has prioritized startups and VC investments as pivotal components of its transformation under Vision 2030. In an interview […]