Saudi Arabia launches $266m program to promote eco-friendly projects
Saudi Arabia has unveiled a new environmental financing initiative worth SR1 billion ($266.6 million), supported by Riyad Bank, to encourage private sector participation in sustainable and eco-friendly projects. Abdulrahman Al-Fadhli, Saudi Arabia’s minister of environment, water, and agriculture and chairman of the Environmental Fund’s board of directors, officially introduced the program on Sunday. The launch […]
Saudi Arabia’s inflation holds steady at 2% in February: GASTAT
Saudi Arabia’s inflation held firm at 2 percent year on year in February, driven largely by rising housing costs, official data showed. According to the General Authority for Statistics, the increase was fueled by an 8.5 percent surge in housing rents, contributing to a 7.1 percent overall rise in the housing, water, electricity, gas, and […]
Saudi Arabia’s top body reviews economic performance, global outlook
Saudi Arabia’s Council of Economic and Development Affairs hosted a virtual meeting to discuss financial performance and global developments, focusing on improving public sector contributions. Operating under the Council of Ministers, CEDA oversees the governance framework, mechanisms, and policies essential to achieving Saudi Vision 2030. It addresses key domestic sectors, including health, labor, education, and […]
Global trade hits record $33tn in 2024, growing by 3.7%: UNCTAD
Global trade reached a record high of $33 trillion in 2024, marking a 3.7 percent increase from the previous year, driven by an uptick in the services sector. According to the latest Global Trade Update from the UN Conference on Trade and Development, services drove growth, rising 9 percent for the year and adding $700 billion […]