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  • A Gradual Pickup in Private Sector Lending in Saudi Arabia Seen in Monetary Update
     

    A recently-released report by Jadwa Investment finds a gradual pickup in private sector lending since April 2018 after showing a slowdown in 2017 and Q1 2018. The Monetary and Financial Update report from the Riyadh-based Jadwa looks at the Kingdom’s monetary policy and other key economic data. Jadwa Investment sees “a rising level of uncertainty” in the […]

     
  • Positive Trends Seen in Latest Saudi Economic Data; Non-Oil PMI Up
     

    A recently-released report from Jadwa Investment found a positive trend in Saudi economic data for the month of November, with POS and cash withdrawals rising by 18 percent and 2 percent respectively, year-on-year, and growth in the non-oil PMI index. The monthly report from the Riyadh-based investment firm analyzes key macro and micro economic trends in […]

     
  • Saudi’s SAMA Warns Against Cryptocurrencies
     

    The Saudi government has outlawed using and trading in Bitcoin, citing the high risk and negative consequences in the cryptocurrency. Saudi Arabia’s Monetary Agency (SAMA) warned against trading in digital currencies for “their negative consequences and high risks on traders as they are out of government supervision.” SAMA continued that cyptocurrencies like Bitcoin “are illegal in the kingdom […]

     
  • Saudi Foreign Reserves Continue to Rise, Expected to Reach $536b by 2019 — Jadwa Investment
     

    SAMA FX reserves rose by $1.8 billion month-on-month to stand at $506 billion in June, a recently released report by Jadwa Investment said, noting that FX reserves have risen by $10 billion during the year so far. The Riyadh-based investment group expects a continued rise to reach $536 billion by the end of the year. Fahad Alturki, chief […]

     
  • Jadwa Investment Chartbook: SAMA Reserves Rise and Other Positive Signs for Saudi Economy
     

    The latest monthly edition of the Saudi Chartbook published by Jadwa Investment finds positive indicators for the Saudi economy as growth picks up in the Kingdom. According to Jadwa, non-oil exports in March increased by 1.8 percent year-on-year, the Kingdom’s FX reserves soared to the largest monthly increase since October 2013, and while inflation ticked […]

     
  • Saudi Central Bank will Test Ripple Payments Technology
     

    Ripple has struck a deal with Saudi Arabia’s central bank on a pilot program that will see banks in the country test the company’s technology, according to reports. “This ground-breaking pilot program is the first of its kind to be launched by a central bank. Participating banks from the KSA will use xCurrent to instantly settle […]

     
  • ‘Largest Ever’ Budgeted Expenditure for Saudi Arabia in 2018 as Kingdom Looks to Propel Growth
     

    Government officials unveiled Saudi Arabia’s largest budgeted expenditure ever as the Kingdom looks to propel economic growth following two years of reduced spending. Compared to previous years, the budget is expansionary. Saudi Arabia will spend SR88 billion ($23.5 billion) more in 2018 compared with 2017. The announcement was made at a press conference at which Finance Minister Mohammed […]

     
  • Jadwa Investment Latest Chartbook Highlights ‘Improving Performance’ Indicators in the Saudi Economy
     

    The latest edition of the monthly Chartbook from Jadwa Investment finds economic indicators showed improving performance during the month of October this year, citing a “notable improvement” in cash withdrawals from ATMs and POS transactions. The Riyadh-based bank also noted an $8.2 billion increase (in month-to-month terms) in SAMA FX reserves for the Kingdom, to $493 billion in […]

     
  • Keeping Track of Saudi Arabia’s Public Investment Fund’s Expanding Footprint
     

    Saudi Arabia’s Public Investment Fund (PIF) has created a handful of new companies in several sectors in the Kingdom while investing in many others, injecting capital and a new competitor in the housing, energy, waste and recycling, tourism, transportation sectors and more. As the PIF’s role in the Saudi economy increases, critics say the mega-fund will crowd out private […]

     
  • Saudi Economy Contracts as Production Cuts, Reforms Begin
     

    Saudi Arabia’s economy contracted by 1.03 percent in the second quarter of this year following a 0.5-percent contraction in the first quarter, according to reports, as participation in the OPEC oil production cut and disappointing growth in non-oil industries weighed on the economy. While the contraction in the economy is to be expected as OPEC and Russia seek […]

     

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