Fitch affirms Saudi Arabia’s ‘A+’ rating with stable outlook
Fitch Ratings has affirmed Saudi Arabia’s long-term foreign-currency issuer default rating at “A+” with a stable outlook. The agency cited the Kingdom’s strong fiscal and external balance sheets, continued growth in the non-oil sector, and solid banking fundamentals as key drivers behind the rating. Fitch also noted that Saudi Arabia’s government debt levels and sovereign […]
Saudi and Syrian business leaders commit to energy sector revival
Saudi and Syrian business leaders affirmed their readiness to support the redevelopment of Syria’s energy infrastructure following a high-level meeting in Riyadh. The participants presented proposals for joint projects focused on conventional and renewable energy sectors, signaling a potential shift toward greater regional investment collaboration. During the meeting, which included members of the Syrian expatriate […]
Saudi Arabia announces $5bn in Syria investments
A Saudi delegation visiting Damascus on Wednesday announced investment and partnership deals valued at $5 billion to help rebuild war-battered Syria. The delegation of some 150 investors and representatives of the Saudi public and private sectors, led by Investment Minister Khalid Al-Falih, attended a forum in Damascus. “The announced investments, valued at SR19 billion (about $5 […]
Saudi POS value holds above $3bn for 4th consecutive week
Hotel spending in Saudi Arabia surged by 2.1 percent in the week ending July 19, driving total point-of-sale transactions to SR12.19 billion ($3.25 billion), even as most other sectors saw declines. Total POS value remained above the $3 billion mark for the fourth consecutive week despite a 7.1 percent weekly drop, underscoring the resilience of […]
Saudi non-oil exports climb 6% to $8.29bn: GASTAT
Saudi Arabia’s non-oil exports, including re-exports, reached SR31.11 billion ($8.29 billion) in May, marking a 6 percent increase compared to the same month in 2024, official data showed. Preliminary figures released by the General Authority for Statistics showed that the UAE remained the top destination for the Kingdom’s non-oil products, with exports to the Emirates […]
Saudi bank loans hit $845bn as corporate lending booms
Saudi banks’ total outstanding loans reached SR3.17 trillion ($844.7 billion) at the end of May, an annual increase of 16.28 percent, according to the latest official data. Figures released by the Saudi Central Bank, also known as SAMA, show that this marks one of the fastest annual credit expansions in recent years, underscoring strong economic momentum […]
Reforms, incentives paving way for Saudi Arabia’s rise as logistics hub
Saudi Arabia’s logistics sector is emerging as a magnet for global investment, powered by regulatory reforms, incentive schemes, and its alignment with the ambitious Vision 2030 agenda, according to industry experts. As the Kingdom pushes ahead with economic diversification, strengthening its transport and logistics infrastructure has become a central pillar of the program. The National […]
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 […]