Riyadh Meetings Presidency Issues Statement on Syria
The Riyadh Meetings Presidency issued a statement on Syria today following a meeting convened at the invitation of Saudi Foreign Minister Prince Faisal bin Farhan Al Saud. The gathering built upon the ministerial discussions hosted in Aqaba, Jordan, on December 14, 2024. The meeting brought together foreign ministers and representatives from Bahrain, Egypt, France, Germany, […]
Saudi Arabia de-risks investments to attract foreign SMEs: Al-Falih
Saudi Arabia is de-risking investments for foreign small and medium-sized enterprises to encourage their entry into the Kingdom, according to a senior official. In an interview with Arab News on the sidelines of the Standard Incentives for the Industrial Sector program, Saudi Minister of Investment Khalid Al-Falih said the initiative aims to attract international SMEs […]
Saudi Arabia allocates $2.66bn to activate Standard Incentives Program for the industrial sector
Saudi Arabia announced the allocation of SR10 billion ($2.66 billion) to activate the Standard Incentives Program for the industrial sector, following a Cabinet approval last month. The announcement was made during the Standard Incentives for the Industrial Sector event on Jan. 11. According to a press statement, the initiative seeks to spur growth in the […]
Arab, EU diplomats arrive in Riyadh for meeting on Syria
Top diplomats from the Middle East and Europe were arriving in the Saudi capital on Sunday to discuss Syria, as world powers push for stability after the fall of Bashar Assad. The talks on Sunday will unfold in two sessions: the first will bring together Arab officials, while the second will feature wider participation, including […]
Saudi Arabia’s $2.66bn program to align industrial incentives with investor demand: Alkhorayef
Saudi Arabia is taking a flexible approach to distributing its SR10 billion ($2.66 billion) standardized incentive program to maximize its impact across industries, according to a senior official. In an interview with Arab News on the sidelines of the Standard Incentives for the Industrial Sector event, Saudi Minister of Industry and Mineral Resources, Bandar Alkhorayef, […]
Saudi capital market strategy set to boost growth, transparency
Saudi Arabia’s Capital Market Authority has unveiled its ambitious 2024-2026 strategic plan, which aims to further develop the Kingdom’s financial market and enhance its global competitiveness. With more than 40 initiatives, the plan is set to transform the capital market into a key pillar of the national economy, in line with Vision 2030. In an […]
Kingdom approves 2025 annual borrowing plan with $37bn funding target
Saudi Arabia’s Minister of Finance Mohammed Al-Jadaan on Sunday approved the annual borrowing plan for 2025, outlining a strategic road map for managing the Kingdom’s funding needs. The plan, which has been endorsed by the National Debt Management Center’s board of directors, detailed developments in public debt in 2024, initiatives to strengthen local debt markets, […]
Saudi Arabia boosts desalinated water supply to 50% in Vision 2030 push
Saudi Arabia’s water sector witnessed significant shifts in 2023, with a 31 percent increase in desalinated seawater production, now comprising 50 percent of the country’s distributed water supply, up from 44 percent in 2022, official data showed. According to the General Authority for Statistics’ latest Water Accounts report, non-renewable groundwater consumption by the agricultural sector […]
Saudi Arabia’s King Abdulaziz International Airport serves 49.1m passengers in 2024
King Abdulaziz International Airport in the Saudi port city of Jeddah served 49.1 million passengers in 2024, representing a 14 percent growth compared to the previous year. In a statement, Jeddah Airports Co. said that this achievement marks a “historic milestone,” as KAIA handled the highest annual operational figure in the history of airports in the […]
Saudi Arabia’s non-oil sector sustains growth in December: PMI survey
Saudi Arabia’s non-oil private sector ended 2024 on a strong footing, driven by the fastest sales growth in a year, which pushed the Kingdom’s Purchasing Managers’ Index to 58.4 in December, according to a survey. The Riyad Bank Saudi Arabia PMI survey, compiled by S&P Global, showed that total sales volumes in the non-energy sector […]