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ECONOMY

PIF, Hyundai to build $500m high-tech car manufacturing plant in Saudi Arabia

In a groundbreaking development aimed at transforming Saudi Arabia’s automotive landscape, the Public Investment Fund (PIF) and Hyundai Motor Company (Hyundai) have officially signed a joint venture agreement to establish […]

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Saudi Arabia’s electricity and gas supply sector sees 21.5% growth: GASTAT

Saudi Arabia’s electricity and gas supply sector grew by 21.5 percent in August compared to the same month last year, according to the General Authority of Statistics. The electricity and

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Saudi Arabia forecasts slower growth, budget deficit for 2023

Saudi Arabia has lowered its growth forecast and expects to post a budget deficit this year rather than an earlier projected surplus, a preliminary budget statement showed on Saturday. The

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Saudi Arabia & Uruguay discuss ways to support bilateral cooperation

Saudi Arabia’s Minister of Investment Eng. Khalid Al-Falih met a number of ministers in Uruguay during his visit to the country. This visit comes within Eng. Al-Falih’s visit to Latin

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Saudi’s SAMA issues instructions for practicing aggregation activity

  The Saudi Central Bank (SAMA) announces the issuance of the “Instructions for Practicing Aggregation Activity” as an annex of the “Rules of Licensing Finance Support Activities.” This initiative reflects

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