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  • Saudi Internet Penetration Reaches 99%
     

    According to the “Internet Saudi Arabia” report for 2023, published by the Communications, Space, and Technology Commission, both men and women demonstrated high levels of internet usage, with rates of 99.3 percent and 98.5 percent respectively. The report also says that 52.3% of users spend more than seven hours online each day.  

     
  • Saudi Car Market: Tops GCC, women purchase 30% of cars sold in 2023
     

    In 2023, Saudi Arabia sold 729,466 cars, a 17% increase from the previous year. The Toyota Yaris was the best-selling car, accounting for 37% of the sales. Car sales are expected to surge to 870,000 this year.

     
  • Nusuk pilgrim card launched
     

    With the 2024 Hajj expected to begin June 14, Minister of Hajj and Umrah Dr. Tawfiq Al-Rabiah released the Nusuk card by presenting its copy to Indonesian Minister of Religious Affairs Yaqut Cholil Qoumas in Jakarta on Tuesday, April 30, during his official visit to Indonesia.

     
  • 10th Saudi Film Festival Underway
     

    The 10th Saudi Film Festival runs May 2-9 at the King Abdulaziz Center for World Culture (Ithra) in Dhahran.  Debuting in 2008 this year’s edition has two main themes: Indian cinema and sci-fi films.

     
  • PIF and BlackRock Launch $5bn Investment Fund
     

    BlackRock and Public Investment Fund signed a non-binding MOU that calls for the sovereign fund to invest up to $5bn in stages as the new firm hits agreed milestones. Investments will provide capital for a variety of funds invested in public equities and bonds as well as alternative assets.

     
  • Saudi Space Agency and WEF Establish Space C4IR Center
     

    The World Economic Forum has signed an agreement with the Saudi Space Agency to establish a Centre for the Fourth Industrial Revolution (C4IR)  focused on space. The Centre for Space Futures, set to open in autumn 2024, will be hosted by the Saudi Space Agency.

     
  • Special World Economic Forum Convenes in Riyadh
     

    The World Economic Forum Special Meeting on Global Collaboration, Growth and Energy for Development in Riyadh convenes 1,000 global leaders from 92 countries on 28-29 April, to support global dialogue and find actionable, collaborative and sustainable solutions to shared global challenges.

     
  • Vision 2030 Marks 8th Year Since Launch
     

    Launched on April 25, 2016, Vision 2030, Saudi Arabia’s blueprint for economic and social transformation marks it 8th year and the halfway point between 2016 and 2030.

     
  • IMF Launches New Regional Office in Saudi Arabia
     

    The goal of the new office is to strengthen the IMF’s collaboration with governments and institutions in the Middle East including promoting economic stability, growth, and regional integration.  It also underscores the growing economic importance of the region.

     
  • Saudi’s Regional Headquarters Program Moves Forward
     

    In February the Zakat, Tax and Customs Authority published guidelines specifying RHQ tax rules. Under the new rules, specific activities qualify for tax incentives. The new RHQ tax rules aim to clarify the scope and conditions of tax relief for RHQ entities, as announced by MISA in December 2023. 

     

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