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  • Saudi labor courts issued 130,000 rulings last year, up 21% from 2023

    The Ministry of Justice said that labor courts across Saudi Arabia pronounced more than 130,000 judgments during the year 2024, and this figure records an increase of 21 percent compared to the previous year 2023. A total of 290,000 court sessions were held during the last year. The ministry said that labor courts contributed to shortening the average lifespan of a labor case to just 20 days, which is the period from the date of filing the case until it is closed. It added that the average number of sessions for closed cases was two sessions. The ministry stressed that consolidating the concept of institutionalization and the work of central departments such as the Case Preparation Center and the Case Audit Center have contributed to raising the courts’ achievement and speeding up the resolution of cases.

  • Saudi National Bank Proposes 16 Million Share Buyback

    Saudi National Bank (SNB), the largest bank in Saudi Arabia by assets, has proposed the repurchase of up to 16 million treasury shares. The initiative, aimed at supporting the bank’s employees’ equity programme, highlights SNB’s commitment to empowering its workforce. The proposed buyback will be financed entirely through the bank’s internal resources, as disclosed in a statement to the Saudi stock exchange. Currently, treasury shares constitute 0.92% of the total shares designated for the equity programme. If approved, the buyback will further strengthen the programme’s foundation and align with the bank’s long-term growth strategy.

  • The best residential PV system configuration for Saudi Arabia

    Researchers in Saudi Arabia have identified the best and optimum PV system configurations for the Saudi residential market. Their analysis investigated the capacity threshold that leads to a lower cost of electricity compared to grid electricity costs. They used NREL’s HOMER software to analyze the energy requirements of the residential units, the solar energy potential and weather characteristics of the selected location, and the financial parameters influencing a project’s profitability.
     

  • Saudi Arabia to launch 2 Orange Line stations tomorrow

    The Riyadh Public Transport Project announced that Al-Hala and First Industrial City stations on the Orange Line will be launched tomorrow, Jan. 21. The Orange Line stretches from East Riyadh to West Riyadh, with a total length of 41 kilometers. It spans from Jeddah Road in the west to the Second Eastern Ring Road, passing along the Khashm Al-An area in the east.

  • Saudi wealth fund ramps up efforts to tap ETF investors

    The Saudi Arabian sovereign wealth fund’s investment in a recently launched exchange traded fund underlines the kingdom’s growing interest in using the mass-market fund structure to develop its capital markets. The Saudi Public Investment Fund has stumped up $200mn as a seed investor in State Street Global Advisors’ Europe-listed SPDR JPMorgan Saudi Arabia Aggregate Bond Ucits ETF, which launched in December. The ETF provides exposure to US dollar-denominated Saudi sovereign and quasi-sovereign bonds with an average maturity of about 10 years. It is believed to be the first Saudi bond ETF to be listed in Europe or the US. According to its latest strategy report, the PIF’s mandate is to act as an “economic catalyst” for Saudi Arabia at a time when the kingdom aims to diversify the economy away from oil and to develop its capital markets with the ambitious Vision 2030 development programme.

  • Saudi: Violations of foreign trucks surge 203% to over 26,000 in 2024

    Violations of foreign trucks in Saudi Arabia surged 203 percent to more than 26,000 during the year 2024 compared to 8,569 violations in 2023, according to the Ministry of Transport and Logistics. At a time when foreign truck drivers continue to violate decisions issued by the relevant authorities, the Ministry of Environment, Water and Agriculture has decided to ban foreign trucks transporting agricultural products, livestock and fodder within the Kingdom from entering public utility markets, except after obtaining a permit issued by the Transport General Authority (TGA).

  • Saudi EXIM Bank Provides Over $1.5 Billion to Support Global Mineral Flow

    Saudi Export-Import Bank (Saudi EXIM Bank) participated as a strategic partner in the fourth annual Future Minerals Forum (FMF), organized by the Ministry of Industry and Mineral Resources under the theme "Year of Impact." The bank contributed insights to drive global development in the mining sector and foster international trade relationships through panel discussions and the conference’s accompanying exhibition. On the sidelines of the forum, Saudi EXIM Bank signed a $15 million credit-line agreement with Pakistan’s Habib Metropolitan Bank Limited to enhance the flow of non-oil Saudi exports to the South Asian country. Under the agreement, Habib Metropolitan Bank will provide credit facilities to importers in Pakistan to finance the purchase of Saudi products. The collaboration aligns with Saudi EXIM Bank's efforts to expand the Kingdom's export base, boost competitiveness in regional and global markets, and open new avenues for export.

  • Saudi Arabia builds first road using recycled construction waste

    Saudi Arabia's Roads General Authority (RGA) has achieved a significant milestone in sustainable infrastructure development by completing the kingdom’s first road built with recycled construction and demolition (C&D) waste in its asphalt mixture. The innovative project carried out in collaboration with Al Ahsa Municipality and the National Centre for Waste Management (MWAN), saw recycled C&D materials incorporated into the asphalt paving layers of a road in the Al Ahsa Governorate. This initiative aligns with Saudi Arabia’s ambitious Vision 2030 goals, emphasizing the transition to a circular economy. The kingdom aims to achieve a 60% recycling rate of C&D waste by 2035, significantly reducing environmental impact while promoting resource efficiency.

  • Saudi Aramco Sees Oil Demand Growth at 1.3 Million Bpd in 2025

    Saudi Aramco, the world’s largest oil exporter, expects global oil demand to grow by a steady 1.3 million barrels per day (bpd) this year compared to 2024, the chief executive of the biggest oil firm in the world told Reuters. Oil demand is set to hit nearly 106 million bpd this year, up from about 104.6 million bpd last year, Saudi Aramco’s chief executive officer Amin Nasser told Reuters on the sidelines of the World Economic Forum in Davos. “We still think the market is healthy ... last year we averaged around 104.6 million barrels (per day), this year, we're expecting an additional demand of about 1.3 million barrels ... so there is growth in the market,” Nasser told Reuters

  • Top Saudi diplomat says Trump administration is not looking for war with Iran

    The top Saudi diplomat on Tuesday played down fears that the incoming Trump administration was looking for war with Iran and called on Tehran to engage with the US to address the issue of its nuclear weapon program. “I don’t see the incoming US administration as contributory to the risk of war. On the contrary, I think President Trump has been quite clear that he does not favor conflict,” Prince Faisal bin Farhan said at the World Economic Forum (WEF) in Davos. Prince Faisal admitted that the Middle East was abundant in risk factors, but it also had huge potential. “I hope that the [Trump administration’s] approach will be met, also on the Iranian side, by addressing the issue of the nuclear program, by being willing to engage with the incoming administration in a way that can help us stay on track with this positive momentum,” he said.