Saudi insurance sector’s outlook stable in 2025: S&P Global
Saudi Arabia’s insurance sector is set to remain resilient in 2025, with expected growth in top-line revenue between 10 percent and 15 percent, according to a new analysis. In its latest report, credit rating agency S&P Global revealed that the net profit of insurance companies in the Kingdom grew by 17 percent in Q3 2024, […]
PIF launches Adeera to redefine Saudi hospitality with local brands
Saudi Arabia is making a significant move to develop its own homegrown hospitality brands with the launch of Adeera, a new hotel management company fully owned by the Public Investment Fund. The new venture aims to introduce a variety of local hotel brands designed to meet the needs of a diverse range of visitors, from mid-range […]
Robust manufacturing sector lifts Saudi industrial index by 5%: GASTAT
Saudi Arabia’s industrial production index rose by 5 percent year on year in October, driven by robust growth across key economic sectors, official data showed. According to figures from the General Authority for Statistics, the index also edged up 0.4 percent month on month, reaching 106.9 points. The mining and quarrying sub-index, which includes oil production, […]
Minister of Economy and Planning Meets with Middle East Institute Delegation
Minister of Economy and Planning Faisal Alibrahim has met with a delegation from the Middle East Institute to discuss the Kingdom’s economic diversification efforts under Saudi Vision 2030, and the latest global economic developments. SPA
Saudi Economy’s Liquidity Grows by over SAR247 Billion
Liquidity levels, or “available money,” in the Saudi economy have grown by more than SAR247.647 billion year-on-year, reflecting an increase of 9.2% and reaching SAR2,936.089 billion by the end of October 2024, compared with SAR2,688.442 billion in the same period last year. The growth is based on the broad money supply indicator (M3), according to […]
Energy Efficiency Project at Prince Abdulaziz Bin Musaed Hospital in Arar Aims for 14% Energy Saving
The National Energy Services Company (Tarshid) has launched an energy efficiency retrofit project at Prince Abdulaziz Bin Musaed Hospital in Arar city, aiming to achieve a 14% reduction in energy consumption in the hospital’s 10 buildings, while complying with the best global standards, according to a press release issued recently by the company. Tarshid Managing […]
SAMA Announces Launch of ‘Samsung Pay’ Service in Saudi Arabia
The Saudi Central Bank (SAMA) announced in a press release today the launch of “Samsung Pay” in Saudi Arabia, through the national payment system “mada”, as part of its continuous endeavors to improve digital payment, in line with the Saudi Vision 2030. This will help promote financial inclusion and expand the use of FinTech solutions […]
HRH the Crown Prince Congratulates the King of Morocco on the Successful Surgery He Underwent
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, has sent a cable congratulating King Mohammed VI of Morocco on the success of the surgery he underwent. The Crown Prince wished the Moroccan king continued good health and happiness. SPA
The Custodian of the Two Holy Mosques Congratulates the King of Morocco on the Successful Surgery He Underwent
Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud has sent a cable congratulating King Mohammed VI of Morocco on the success of the surgery he underwent. The Custodian of the Two Holy Mosques wished the Moroccan king continued good health and happiness. SPA
COP16: Saudi Arabia vows to intensify action to tackle drought, land degradation
Saudi Arabia’s incoming COP16 president vowed to work with the international community to tackle drought and desertification on the first day of a UN conference in Riyadh. Abdulrahman Al-Fadli, the Kingdom’s minister of environment, used his speech at the event – being held from Dec. 2 to 13 under the theme “Our Land. Our Future” […]