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 […]
Saudi Aramco secures $5bn in bond sale to bolster financial flexibility
Saudi Aramco has raised $5 billion through a three-tranche bond issuance under its Global Medium-Term Note Program, the company said. The senior notes, which were priced on May 27 and listed on the London Stock Exchange, include $1.5 billion maturing in 2030 at a 4.75 percent coupon, $1.25 billion maturing in 2035 at 5.375 percent, […]
Saudi Arabia’s economic growth to outstrip US, UK, France in 2026: OECD
Saudi Arabia’s real gross domestic product is projected to grow by 2.5 percent in 2026, a rate that surpasses forecasts for the US, Germany, the UK, and France, according to an analysis. In its latest report, the Organization for Economic Cooperation and Development said that the Kingdom’s economy is projected to grow by 1.8 percent this […]
Saudi airline flynas’ IPO oversubscribed by nearly 350%
Saudi low-cost carrier flynas finalized its initial public offering share allocation at SR80 ($21) per share, the top of its indicated range, following robust demand from institutional and retail investors. The pricing values the airline at an estimated market capitalization of SR13.6 billion at listing. The offering comes after flynas announced plans last month to […]
PIF-backed D360 bank eyes global investors for Series A round
Saudi Arabia’s Public Investment Fund-backed digital bank D360 is in early talks with potential global investors as it prepares for a Series A funding round planned for the second half of 2025. The Shariah-compliant lender, which began operations in December, is targeting the first quarter of 2026 to complete the raise, CEO Eze Szafir said […]
Mining, entertainment sectors eye 100bn in investments by 2030
Saudi Arabia is steadily progressing in its journey to attract $100 billion in foreign direct investments by the end of this decade, with the Kingdom heavily focusing on securing funds in high-growth sectors, experts have said. Saudi Arabia’s Vision 2030 economic diversification program aims to transform its economic landscape, including attracting foreign direct investment and […]
Saudi Arabia and Qatar to provide financial support for Syrian state employees
Saudi Foreign Minister Prince Faisal bin Farhan Al Saud and Syrian Foreign Minister Asaad Hassan al-Shibani attend a press conference in Damascus, Syria May 31, 2025. (Reuters) Syria’s interim foreign minister Asaad Shaibani, right, receives Saudi Arabia’s Foreign Minister Prince Faisal bin Farhan at Damascus International Airport on May 31, 2025. (SANA/AFP) Prince Faisal […]
UAE, China, India among top destinations for Saudi Arabia’s non-oil goods: GASTAT
The UAE emerged as the leading destination for Saudi Arabia’s non-oil exports during the first quarter of 2025, with shipments valued at SR21.32 billion ($5.68 billion), marking a 33.91 percent increase compared to the same period last year, according to the latest data from the General Authority for Statistics. Machinery and mechanical appliances were the […]
Eco-friendly and safer walkways expanded to 33% in Makkah Hajj sites
Muslims performing Hajj this year will be seeing better quality and safer walkways in Makkah, thanks to the increased use of a new road construction solution. Saudi authorities have announced the expansion of roads made of flexible rubber asphalt by 33 percent this year, with work on the road extending from Namirah Mosque to Al-Mashaer […]
Sky-high architecture shows Kingdom’s business ambitions
Skyscrapers are transforming Riyadh’s skyline, signaling a bold shift in the capital’s urban and economic ambitions. From finance to high-end living, vertical development is accelerating, drawing comparisons to global cities such as New York. Riyadh’s skyline is rapidly evolving, with high-rises, luxury towers, and smart skyscrapers rising from the King Abdullah Financial District to North […]