Jeddah by jet ski: How the Red Sea is powering Saudi Arabia’s new tourism economy
Once a trading port and gateway to holy cities, Jeddah’s Red Sea coast has transformed into a lively center for marine leisure, luxury tourism, and major yachting and water sports events. This shift shows Saudi Arabia’s Vision 2030 diversification plan in action, with private enterprise working alongside government-led reforms to help deliver new economic developments. […]
Saudi Exchange unveils new instrument to trade global shares locally
Saudi Arabia has introduced a new financial instrument that gives investors in the Kingdom direct access to shares of foreign companies listed on global markets. The Saudi Exchange on July 7 launched its first Saudi Depositary Receipts, allowing international equities to be traded locally in Saudi riyals. The move marks the debut of depositary receipts […]
Saudi Arabia’s construction output to hit $191bn in 2029: Knight Frank
Saudi Arabia’s construction output value is expected to reach $191 billion in 2029, representing a rise of 29.05 percent compared to 2024, according to an analysis. In its latest report, global consulting firm Knight Frank pointed to the growth in residential developments, the ongoing giga-projects, and increased demand for office space — particularly in […]
Saudi Arabia’s National Development Fund secures $1.3bn in credit facilities to boost development projects
Saudi Arabia’s National Development Fund has secured SR5 billion ($1.3 billion) in credit facilities through two agreements with Al-Rajhi Bank and Arab National Bank. The deals are designed to enhance funding for key development projects across the Kingdom, empowering its 12 affiliated development funds and financial institutions to drive economic growth and accelerate national transformation, […]
Saudi Aramco raises August Arab light crude OSP for Asia
Saudi Aramco has raised its official selling price for its flagship Arab Light crude oil destined for Asia in August, the company confirmed in an official statement on Sunday. The state-owned company raised the price of its benchmark oil to $2.20 per barrel above the average of Oman and Dubai crude prices. The August price […]
ACWA Power plans selective mergers to boost profits, secures $15.4bn in financing over 2 years
Saudi Arabia’s energy and water desalination giant ACWA Power has drawn investor attention regarding its expansion strategy, following the approval of its shareholders for a SR7.1 billion ($1.8 billion) rights issue. In an interview with Al-Eqtisadiah, Abdulhameed Al-Muhaidib, the company’s chief financial officer, outlined ACWA Power’s growth plans, financing approach, and future targets. ACWA Power […]
Saudi Arabia’s top 10 listed firms hit $2.1tn valuation, led by Aramco
Saudi Arabia’s top 10 publicly listed companies reached a combined market capitalization of $2.1 trillion as of April 25, highlighting their dominant role in the Kingdom’s capital markets, according to a new analysis by Forbes Middle East. The companies collectively reported $133.9 billion in net profits for 2024, reflecting the growing strength of the […]
Saudi Arabia opens July Sah sukuk subscription with 4.88% annual return
Saudi Arabia has launched the July subscription window for its government-backed savings sukuk, “Sah,” offering an annual return of 4.88 percent—slightly up from June’s 4.76 percent. Part of the 2025 issuance calendar managed by the National Debt Management Center under the Ministry of Finance, the sukuk reflects ongoing efforts to promote financial inclusion and encourage […]
Saudi PIF enters ‘post-trillion’ era with pivot from scale to substance
Saudi Arabia’s Public Investment Fund has surpassed $1 trillion in assets, marking a global milestone — but the organization is now pivoting from rapid expansion to a focus on solvency, strategic discipline, and sustainable long-term returns. According to Global SWF, the sovereign wealth fund, which recently announced an 18 percent increase in assets under management […]
Morgan Stanley Saudi Arabia to act as market maker for 52 companies: Tadawul
Morgan Stanley Saudi Arabia has been approved to conduct market-making activities for 52 companies listed on the Kingdom’s stock exchange, according to a statement on Tadawul. The US-based multinational investment banking company’s applications are set to cover securities on the main and parallel markets, commencing on July 1. Market makers are exchange members responsible for maintaining liquidity […]