Industrial cities in Saudi Arabia’s Qassim region hit 77% occupancy rate, official reveals
Saudi Arabia’s Deputy Minister of Industry and Mineral Resources for Industrial Affairs Khalil Ibrahim bin Salamah. Industrial cities in Saudi Arabia’s Qassim region are performing at occupancy rates of up to 77 percent, with 158 factories currently in operation, reflecting strong growth and a supportive business environment, according to a top official. During a meeting […]
Saudi CMA approves 3 parallel market listings in a single day
Three Saudi firms received regulatory approval to list on Nomu in a single day, underscoring growing investor appetite for the Kingdom’s bourses. Zahr Al Khuzama Aluminum, Sahat Almajd Trading, and Quality Education Co. were given the green light by the Capital Market Authority on June 18, marking a rare instance of multiple listings being cleared […]
Saudi Arabia ranks 17th globally in competitiveness index as it outshines economic heavyweights
Saudi Arabia has maintained its spot in the top 20 of the World Competitiveness Ranking, ahead of global heavyweights like the UK, Germany and France. The Kingdom secured 17th position on the list, driven by strong governance, infrastructure upgrades, diversification, and regulatory reforms. Issued by the International Institute for Management Development’s World Competitiveness Center, the […]
Saudi Arabia, France discuss $2.6bn aviation sector investment potential amid flurry of deals
Investment opportunities worth more than SR10 billion ($2.6 billion) were set out at a high-level Saudi-French meeting amid a flurry of deals aimed at strengthening the aviation sector. Airport infrastructure, air navigation, and advanced technologies were among the areas flagged up as available for investment during a roundtable held on the sidelines of the 55th Paris […]
Oil and gas important in times of conflict, Saudi Aramco CEO says
The importance of oil and gas can’t be underestimated at times when conflicts occur, something that was currently being seen, the head of Saudi oil giant Aramco told an energy conference on Monday. Aramco CEO Amin Nasser delivered his speech to the Energy Asia Conference in Kuala Lumpur by a video link. Oil prices jumped […]
Saudi crown prince, Greek PM discuss Iran-Israel tensions in phone call
Saudi Crown Prince Mohammed bin Salman spoke on the phone on Sunday with Greek Prime Minister Kyriakos Mitsotakis to discuss the escalating situation between Israel and Iran, the Saudi Press Agency reported. The two leaders reviewed the latest developments in the region, with particular focus on the repercussions of Israeli military operations targeting Iran. They stressed the need […]
Saudi inflation holds steady at 2.2% in May
Saudi Arabia’s annual consumer inflation edged up to 2.2 percent in May, with rental prices emerging as the principal driver behind the increase. The uptick was fueled by an 8.1 percent rise in housing rents, including a 7.1 percent increase in villa rental prices, according to the latest data released by the General Authority for […]
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 […]