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  • Jadwa Saudi Chartbook: Inflation at 10 Month Low
     

    Jadwa Investment’s recently released Saudi Charbook for the month of August 2012 found that the Saudi economy remained “robust.” On the subject of inflation in Saudi Arabia, Jadwa found “year-on-year inflation slowed to a 10-month low in June, owing to a fall in rental inflation. Most other components of the cost of living index were little changed […]

     
  • Jadwa Saudi Chartbook for August 2012: Banking Indicators
     

    Jadwa Investment’s recently released Saudi Charbook for the month of August 2012 found that the Saudi economy remained “robust.” On the subject of banking indicators in Saudi Arabia, Jadwa found that “bank lending to the private sector jumped in June. Monthly growth was the highest since August 2009. In year-on-year terms it was at its peak since […]

     
  • ‘There is a large infrastructure boom happening in Saudi Arabia’
     

    Saudi Arabia is spending more than $60 billion on a logistics hub, airport improvement and roads to reduce travel time in the Arab world’s biggest economy. The investments also yielded the largest sukuk, or Islamic bond, offered in the Middle East this year and an initial public offering on the stock exchange in June. “There […]

     
  • Wealth Management in the Middle East: Boon or Bust?
     

    Middle Eastern policymakers and bankers will develop an indigenous wealth management industry which keeps the super-wealthy’s investments at home. Developing a local national wealth management industry requires letting in foreign competition, changing banking and securities laws, and growing local companies whose shares are worth buying. The first part of the article reviews trends in wealth […]

     
  • Saudi Students Flood In as U.S. Reopens Door
     

    The more than 300 graduates gathered at a hotel overlooking the Potomac River were all from Saudi Arabia, part of a massive government-paid foreign study program to earn bachelor’s, master’s and doctorate degrees and return home to help run their country. “You are the best of the best, and the future of our country,” Saudi […]

     
  • Saudi consumer electronics market surges
     

    Saudi Arabia’s consumer electronics devices market, defined as the addressable market for computing devices, mobile handsets and video, audio and gaming products is projected at $6.4 billion in 2012, Business Monitor International said in “Saudi Arabia Consumer Electronics Report Q2 2012″report. This is expected to increase to $8.2 billion by 2016, driven by the growing […]

     
  • The Saudi Cultural Mission’s New Headquarters
     

    The new SACM headquarters in Fairfax, Virginia provides a modern hub for Saudi Students in the United States, and stands as a symbol of the strong cultural relations between the United States and Saudi Arabia. Until recently, the future of the iconic Watergate hotel and office complex in Washington DC, which was the site of […]

     
  • With customs union, GCC edges toward closer economic ties
     

    Saudi Arabia, the biggest Arab economy, is leading moves toward political and economic cooperation, which it believes would give the mostly Sunni-led monarchies of the Gulf more power to withstand any confrontation with Shi’ite Iran. Closer business ties within the GCC, which consists of Saudi Arabia, the UAE, Kuwait, Qatar, Oman and Bahrain and has […]

     
  • Saudi car sales to hit $25 billion by 2013
     

    Saudi Arabia has ambitious plans to further expand its lucrative automobile industry. In 2011 alone, the Kingdom announced the sale of approximately 800,000 cars potentially increasing to 1 million vehicles per year by the end of the current decade. In this context, the country is planning to start manufacturing automobile parts by 2013 in addition […]

     
  • Gulf States Move to Diversify Income Sources
     

    Saudi Arabia, the world’s biggest oil exporter, has identified mining as a key investment area after oil and petrochemicals, and is spending an estimated $38 billion to develop two cities centered around mining…“The idea is to try and improve the range of benefits and advantages of doing business in the G.C.C. and in Saudi Arabia, […]

     

MUST-READS

  • JBS to open new chicken nugget plant in Saudi Arabia

    JBS, the world’s largest poultry producer, will open a new plant in Jeddah, Saudi Arabia, where the company will produce chicken nuggets. The Brazil-based company invested $50 million in the facility, which is expected to begin operations in November. When fully operational, the plant will employ about 500 people.

  • Saudi Arabia’s foreign assets rise 5.5 percent to $467.5 billion in June 2024

    Saudi Arabia’s foreign reserve assets increased by 5.5 percent in June 2024, reaching SAR1.754 trillion ($467.5 billion). This compares to SAR1.662 trillion ($442.98 billion) in the same month of 2023, according to official data. This represents the highest level since November 2022.

  • Saudi budget deficit at $4.09 billion in Q2 2024, finance ministry says

    Saudi Arabia’s budget deficit was 15.341 billion riyals ($4.09 billion) in the second quarter of 2024, the finance ministry said on Wednesday. Saudi oil revenues came in at 212.99 billion riyals in the same quarter, up 18 percent compared with the same quarter a year earlier, while expenditures were up 15 percent at 368.932 billion riyals, the ministry added.

  • Prince Abdulaziz hosts official dinner for Saudi delegation at Paris 2024 Olympics

    Prince Abdulaziz bin Turki bin Faisal, Chairman of the Saudi Arabian Olympic and Paralympic Committee and head of the Saudi delegation participating in the 33rd Summer Olympic Games (Paris 2024) hosted an official dinner for the Saudi delegation in Paris. In his speech at the event, Prince Abdulaziz welcomed all the distinguished guests, including the heads of national Olympic committees, international federations, and sports leaders from around the world who attended the Saudi delegation's dinner.

  • Korea-Saudi Business Forum Highlights Expanding Cooperation Beyond Oil

    Since establishing diplomatic relations with Korea in 1962, Saudi Arabia has seen its trade volume increase 400-fold, becoming Korea's largest oil supplier and the largest trading partner in the Middle East. The cooperation, which was previously centered on infrastructure construction, has recently expanded to include fields such as eco-friendly energy and artificial intelligence (AI).

  • FIFA Publishes Saudi Arabia’s Official World Cup 2034 Bid Book

    The official bid book outlines Saudi Arabia’s extensive plans and infrastructure projects and reflects the Kingdom's historic transformation. It provides the Kingdom’s plan to successfully stage one of the world's largest and most important sporting events, the FIFA World Cup.

  • Saudi, Iranian foreign ministers discuss regional developments

    Saudi Foreign Minister Prince Faisal bin Farhan and his Iranian counterpart Ali Bagheri-Kani have discussed the latest regional developments in a phone call, according to a foreign ministry statement. Prince Faisal and the acting Iranian foreign minister also discussed bilateral relations, the statement said. The call between the two officials follows escalating regional tensions, including Wednesday’s assassination of Hamas leader Ismail Haniyeh.

  • Saudi Arabia: Criteria for Fourteenth Wave of VAT E-Invoicing Integration

    The Saudi General Authority of Zakat and Tax has unveiled the selection criteria for the fourteenth wave of its VAT e-invoicing system integration into the Fatoora platform. According to the announcement, this new wave will commence on February 1, 2025. It will target taxpayers whose VAT-taxable revenue exceeded 5 million Saudi riyals (approximately USD 1.3 million) in either 2022 or 2023.

  • Saudi Arabia’s Q2 2024 budget shows 26% rise in non-oil revenues

    The Ministry of Finance has revealed on Wednesday the budget for the second quarter of 2024. Non-oil revenues increased by 26.09% to SR140.6 billion, compared to SR111.51 billion in the first quarter of the year, marking an increase of SR29.09 billion. Oil revenues also rose by 17.08%, surpassing the SR200 billion mark, reaching SR212.99 billion in the second quarter compared to SR181.92 billion in the first quarter.

  • Saudi Minister of Commerce Concludes Visit to Republic of Korea

    The Saudi Minister of Commerce and Chairman of the Board of Directors of the National Competitiveness Center (NCC), Dr. Majid bin Abdullah Al-Qasabi, met with the Minister of Land, Infrastructure and Transport, Dr. Sangwoo Park, today in Seoul, Republic of Korea. The meeting, which also had the Kingdom of Saudi Arabia's Ambassador to the Republic of Korea, Sami bin Mohammed Al-Sadhan, in attendance, covered discussions on the Kingdom's Vision 2030, economic and development reforms, cooperation and partnership opportunities, and the exchange of expertise, particularly in priority sectors.