Manufacturing, mining sectors drive Saudi industrial growth to 3.1%: GASTAT
Saudi Arabia’s Industrial Production Index expanded by 3.1 percent year on year in April, driven by strong growth in the manufacturing, mining, and quarrying industries, official data showed. According to preliminary data from the General Authority for Statistics, the Kingdom’s IPI advanced to 108.6 in April, representing a 0.6 percent rise compared to the previous […]
Saudi commercial bank profits jump 16% in April, topping $2bn before zakat, tax
Saudi Arabia’s banking sector extended its winning streak in April, posting SR7.77 billion ($2.07 billion) in pre-zakat and tax profits, a 16 percent increase compared to the same month last year. According to the Saudi Central Bank, also known as SAMA, this brought year-to-date earnings to SR32.97 billion, an annual rise of 20 percent, keeping […]
Saudi carrier flynas to expand operations across 4 hubs, official says
Saudi Arabia’s low-cost carrier flynas is set to expand operations across its four main hubs — Riyadh, Jeddah, Madinah, and Dammam — as part of an ambitious growth plan, according to a top official. In an interview with Al-Eqtisadiah, Waleed Ahmed, the company’s official spokesperson, said that flynas holds the largest aircraft order in the […]
Non-oil sector drives Saudi Arabia’s GDP growth to 3.4% in Q1: GASTAT
Saudi Arabia’s economy expanded by 3.4 percent year on year in the first quarter of 2025, propelled by robust growth in non-oil activities, according to official data. The estimates released by the General Authority for Statistics showed that the seasonally adjusted real gross domestic product also saw a quarterly rise of 1.1 percent, signaling sustained […]