Saudi-based Walaa Cooperative Insurance Co. maintains ‘A-’ rating: S&P Global
Saudi Arabia’s Walaa Cooperative Insurance Co. maintained its “A-” long-term insurer financial strength rating by S&P Global, with a stable outlook. The New York-based credit rating agency also affirmed its “gcAAA” long-term Gulf Cooperation Council regional scale rating and “ksaAAA” long-term Saudi national scale assessment for Walaa, highlighting the insurer’s capital position and planned business […]
World leaders to attend Saudi Real Estate Future Forum 2025 for industry-shaping discussions
The Real Estate Future Forum is set to serve as a global hub for industry leaders, policymakers, and investors as Saudi Arabia transitions toward a diversified and innovation-driven economy. The event will be held from Jan. 27— 29 at the Four Seasons Hotel in Riyadh and will gather over 300 speakers from 85 countries to […]
Saudi Arabia raises local workforce quotas across key sectors
Saudi professionals in dentistry, pharmacy, accounting, and technical engineering will soon see expanded job opportunities as the Kingdom rolls out new Saudization targets under its Vision 2030 plan. The HRSD, in collaboration with health, commerce, and housing authorities, is now focused on localizing 269 professions. The initiative builds on earlier measures, such as increasing Saudization […]
Saudi Arabia’s non-oil GDP defying expectations, finance minister tells World Economic Forum
DAVOS: Saudi Arabia’s finance minister on Wednesday said that the recent International Monetary Fund downgrading of its growth projection for the Kingdom’s economy for the year ahead did not paint the full picture. Speaking on a panel at the annual meeting of the World Economic Forum in Davos, Mohammed Al-Jadaan said that it was important […]
Saudi Arabia’s non-oil exports surge 19.7%: GASTAT
Saudi Arabia’s non-oil exports surged 19.7 percent year on year in November to reach SR26.92 billion ($7.18 billion), bolstering the Kingdom’s efforts to diversify its economy. According to the General Authority for Statistics, chemical products led the growth, accounting for 24 percent of total non-oil exports, followed by plastic and rubber products, which made up […]
Saudi agritech firm closes $2.55m in seed funding round
Saudi Arabia’s hydroponic farming sector is poised for a boost, as the Kingdom-based agritech startup Arable announces the successful closure of a $2.55 million seed funding round, led by undisclosed investors. The funding round attracted both institutional and private investors, with 90 percent of the capital coming from foreign investors. The funds will be allocated […]
Saudi Arabia’s FM announces landmark visit to Lebanon
DAVOS: Prince Faisal bin Farhan said on Tuesday in Davos he would visit Lebanon later this week, the first such trip by a Saudi foreign minister in more than a decade. He made the announcement during a panel on diplomacy at the World Economic Forum’s annual meeting in the Swiss resort town. The one-day trip on […]
Saudi economy minister speaks on global growth, US economic policies, Vision 2030
Saudi Arabia’s Minister of Economy and Planning Faisal Alibrahim on Tuesday said the Kingdom would continue to assess shifting US economic policies as it eyes more integration to help protect global trade. Alibrahim made the comments during a panel discussion at the World Economic Forum in Davos. Moderator Steve Sedgwick asked Alibrahim about US President […]
Saudi reserves at central bank grow to $450bn
Saudi Arabia’s reserves at the Kingdom’s central bank saw a 2.8 percent year-on-year rise to SR1.69 trillion ($450.31 billion) in November. These assets include monetary gold, foreign accounts, and special drawing rights — the International Monetary Fund’s reserve position. The latter category comprises currency and deposits abroad as well as investments in foreign securities and […]
Saudi Arabia qualifies 6 mining firms for Exploration Enablement Program
Saudi Arabia has chosen six local and international mining companies for its Exploration Enablement Program designed to boost investments and enhance the competitiveness of the sector. Royal Road, Ajlan and Bros Holding, and EV Metals Group were selected for this first phase of qualification, as well as Ma’aden, Gold and Minerals Co., and Al-Masane Al-Kobra Mining Co., […]