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 […]
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 […]