Saudi Arabia’s M&A boom: Shaping a future-ready economy for Vision 2030
Amid the mergers and acquisitions boom in Saudi Arabia, the approval of economic concentration requests by the General Authority for Competition is reshaping the country’s business landscape, signifying a strategic shift toward market consolidation and growth. Such oversight is required in the M&A market to ensure that they do not create monopolies or disrupt market […]
Ras Al-Khair becoming Saudi Arabia’s industrial powerhouse
Saudi Arabia’s industrial and mining sector has long been recognized for its scale and significance, and Ras Al-Khair Industrial City, on the Kingdom’s eastern seaboard, is proving a critical driver of global supply chains. A recent media visit to Ras Al-Khair Industrial City, organized by the Ministry of Industry and Mineral Resources, provided an exclusive […]
Saudi Arabia launches $266m program to promote eco-friendly projects
Saudi Arabia has unveiled a new environmental financing initiative worth SR1 billion ($266.6 million), supported by Riyad Bank, to encourage private sector participation in sustainable and eco-friendly projects. Abdulrahman Al-Fadhli, Saudi Arabia’s minister of environment, water, and agriculture and chairman of the Environmental Fund’s board of directors, officially introduced the program on Sunday. The launch […]
Saudi Arabia’s inflation holds steady at 2% in February: GASTAT
Saudi Arabia’s inflation held firm at 2 percent year on year in February, driven largely by rising housing costs, official data showed. According to the General Authority for Statistics, the increase was fueled by an 8.5 percent surge in housing rents, contributing to a 7.1 percent overall rise in the housing, water, electricity, gas, and […]
Saudi Arabia’s top body reviews economic performance, global outlook
Saudi Arabia’s Council of Economic and Development Affairs hosted a virtual meeting to discuss financial performance and global developments, focusing on improving public sector contributions. Operating under the Council of Ministers, CEDA oversees the governance framework, mechanisms, and policies essential to achieving Saudi Vision 2030. It addresses key domestic sectors, including health, labor, education, and […]
Global trade hits record $33tn in 2024, growing by 3.7%: UNCTAD
Global trade reached a record high of $33 trillion in 2024, marking a 3.7 percent increase from the previous year, driven by an uptick in the services sector. According to the latest Global Trade Update from the UN Conference on Trade and Development, services drove growth, rising 9 percent for the year and adding $700 billion […]
Saudi Arabia, Ukraine issue joint statement as talks kick off in Jeddah
Saudi Arabia and Ukraine issued a joint statement Tuesday following the visit of Ukraine President Volodymyr Zelensky to the Kingdom, the Saudi Press Agency reported. Saudi Arabia expressed hope that efforts would succeed in ending this crisis in Ukraine in line with international law and the United Nations Charter, including respect for the principles of […]
Saudi Arabia leads Arab nations in condemning Israel’s Gaza electricity cut
Saudi Arabia led other Arab nations Qatar and Jordan in condemning Israel’s decision to cut electricity supply to the war-battered Gaza Strip, calling in separate statements for the international community to take action. Israel announced on Sunday it was disconnecting the only power line to a water desalination plant in Gaza, in an effort to […]
Tadawul approves Morgan Stanley Saudi Arabia as market maker for 8 listed securities
Tadawul has approved Morgan Stanley Saudi Arabia to serve as a market maker for eight securities on the main trading platform and the parallel index, Nomu. The decision allows the financial services company to enhance market liquidity and improve price efficiency in accordance with regulations and procedures. Among the securities listed on the main index, […]
PIF launches Saudi Arabia’s first duty-free company to boost travel retail market
Saudi Arabia’s Public Investment Fund has launched Al Waha Duty Free Operating Co. as part of its strategy to capture a larger share of the Kingdom’s travel retail market, contributing to the nation’s economic growth. In a press statement, it was announced that Al Waha is the first Saudi-owned duty-free operator. The company plans to […]