SME financing in Saudi Arabia surges 20.4% in Q4 of 2023
Financing provided to small and medium enterprises in Saudi Arabia surged by 20.4 percent year on year to $73.5 billion in the fourth quarter of 2023, official data showed. In its latest quarterly report, the Kingdom’s Small and Medium Enterprises General Authority said that credit facilities provided to micro and SMEs amounted to $6.7 billion […]
King Khalid International tops Saudi airport rankings with 82% compliance rate: GACA report
Saudi Arabia’s King Khalid International Airport emerges as one of the top three performing terminals in the Kingdom, according to official data. The Riyadh-based aviation facility topped the category for international terminals with over 15 million passengers annually, achieving an 82 percent compliance rate with the General Authority of Civil Aviation’s standards. In its monthly […]
Saudi Arabia’s non-oil exports up 3.3%: GASTAT
Saudi Arabia’s non-oil exports, including re-exports, saw an annual increase of 3.3 percent in the first quarter of this year, official data showed. According to the latest report released by the General Authority for Statistics, the value of re-exported goods increased by 31.5 percent during the same period, while national non-oil exports, excluding re-exports, decreased […]
Lebanon’s reforms insufficient for recovery, IMF says
Lebanon’s economic reforms are insufficient to help lift the country out of its economic crisis, the International Monetary Fund said on Thursday. Ernesto Ramirez Rigo, the head of the IMF mission visiting Lebanon, said in a statement that Lebanon’s ongoing refugee crisis, fighting with Israel at its Southern border and the spillover from the war […]
Italy’s Fincantieri launches Saudi shipbuilding unit to strengthen collaboration
Italian shipbuilder Fincantieri plans to enhance collaboration with Saudi Arabia through a newly established unit, the company said. Fincantieri Arabia will bolster the Kingdom’s Vision 2030 development agenda in the cruise, defense, and offshore sectors, the group disclosed in a press release, issued on the sidelines of an industrial conference in Riyadh. Fincantieri is the only […]
Saudi aviation sector surges with over $20bn in deals at Riyadh forum
Saudi Arabia’s aviation sector received a major boost with over 100 agreements, exceeding SR75 billion ($20 billion), signed during the first two days of the Future Aviation Forum. The Riyadh event saw the signing of 102 memorandums of understanding and deals, ranging from aviation services to aircraft procurement, cargo and logistics services, and advanced air […]
Saudi Arabia rises 9 spots in WEF’s global tourism index
Saudi Arabia has climbed nine spots to rank 41 on a global tourism index – marking the Gulf region’s largest improvement – thanks to its strengthening infrastructure, corporate presence, and major business centers. According to the World Economic Forum’s Travel & Tourism Development Index report, Saudi Arabia has recorded the most significant improvement in the Middle East and […]
Saudi, Japanese culture ministers discuss cooperation
Saudi Arabia’s Minister of Culture Prince Badr bin Farhan met in Tokyo on Tuesday his Japanese counterpart Masahito Moriyama. The pair discussed enhancing cultural cooperation between the two countries within the Saudi-Japan Vision 2030. Prince Badr said the Kingdom’s participation in Expo 2025 Osaka will offer opportunities to learn about the Saudi culture, history, and […]
Saudi deputy foreign minister offers condolences to Iran over death of president
Saudi Arabia’s deputy minister of foreign affairs, Waleed Elkhereiji, on Tuesday offered condolences and sympathy to Iran following the deaths of President Ebrahim Raisi and Foreign Minister Hossein Amir-Abdollahian in a helicopter crash. Elkhereiji delivered the message, on behalf of Foreign Minister Prince Faisal bin Farhan, to the Iranian ambassador to the Kingdom, Alireza Enayatiat, […]
Saudi, Iraq officials meet to discuss border security
Saudi Arabia and Iraq officials have been meeting in Baghdad to discuss border-security issues, the Saudi Press Agency reported on Wednesday. Maj. Gen. Shayie bin Salem Al-Wadaani, director-general of Saudi Arabia’s Border Guards, led the Kingdom’s delegation at Iraq’s Ministry of Interior headquarters. During the meeting, the officials discussed ways to enhance security cooperation, the […]