How Modi’s landmark visit to Jeddah added ‘further momentum’ to historic Saudi-India ties
Indian Prime Minister Narendra Modi was escorted by Royal Saudi Air Force F-15 fighter jets ahead of his touchdown in Jeddah on Tuesday, where he was greeted by a 21-gun salute in a ceremonial welcome that highlighted the growing defense ties between the two countries. The visit marked Modi’s first to the Red Sea port […]
Saudi Arabia raises $990m in sukuk in April
Saudi Arabia’s National Debt Management Center raised SR3.71 billion ($990 million) through its riyal-denominated sukuk issuance for April, reflecting a 40.5 percent increase compared to the previous month, according to an official statement. The amount marks a significant rise from March, when the Kingdom secured SR2.64 billion through sukuk. In previous months, Saudi Arabia issued […]
IMF projects 3% growth for Saudi economy in 2025
Saudi Arabia’s real gross domestic product is expected to grow by 3 percent in 2025, with further acceleration to 3.7 percent in 2026, according to the latest World Economic Outlook released by the International Monetary Fund. The forecast marks a downward revision of 0.3 percentage points for 2025 and 0.4 percentage points for 2026 compared […]
Saudi crown prince meets with Indian PM Modi in Jeddah
Saudi Crown Prince Mohammed bin Salman received Indian Prime Minister Narendra Modi at Al-Salam Palace in Jeddah on Tuesday evening. An official reception ceremony was held for Modi and the two leaders held an official session of talks, Saudi Press Agency reported. Prince Mohammed and Modi also chaired the Saudi-Indian Strategic Partnership Council. India’s prime […]
Saudi Arabia, Indonesia sign key agreements to boost trade and mining cooperation
Saudi Arabia and Indonesia have signed a series of memoranda of understanding aimed at enhancing bilateral trade and expanding cooperation in the mining sector. As part of an official visit to Jakarta, Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar Alkhorayef, signed an MoU with Indonesia’s Minister of Energy and Mineral Resources, Bahlil Lahadalia, […]
Saudi defense minister arrives in Tehran for an official visit
Saudi Minister of Defense, Prince Khalid bin Salman, arrived on Thursday in the Iranian capital, Tehran, on an official visit, the Saudi Press Agency reported. During the visit, Prince Khalid will hold several meetings to discuss bilateral relations and issues of mutual interest between the two countries. The visit follows renewed diplomatic engagement between the […]
Saudi banks extend $2.4bn in home loans in Feb.; demand broadens across nationals and expats
Saudi Arabia’s banks issued SR8.91 billion ($2.37 billion) in new residential mortgages to individuals in February — a 28.33 percent annual increase, according to official data. Figures from the Saudi Central Bank, also known as SAMA, show that apartment lending recorded the highest growth during this period, rising by 46.45 percent to SR2.9 billion. While […]
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 […]