70 Percent Increase in New Licenses for Foreign Businesses in First Quarter, Al-Omar Says

The number of new licenses approved for foreign businesses in Saudi Arabia rose by 70 percent in the first quarter from a year earlier, the head of Saudi Arabia's General Investment Authority (SAGIA) said.

Saudi Arabia

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Saudi Economy

Saudi GDP could surprise on the upside, higher budget deficit seen in 2019: IMF

The International Monetary Fund (IMF) estimates that Saudi Arabia’s economic growth in 2019 may be slightly higher than its earlier 1.8 percent forecast as the ...



Trump Wants Cheap Oil. IMF Data Show Saudis Need Higher Prices

The estimates highlight the tricky task facing Crown Prince Mohammed bin Salman as he tries to forge closer ties with Trump and, at the same ...


Bond Market

Saudi Arabia to open up bond market to retail investors

Officials said last week that the country’s government sukuk, or Islamic bonds, would be sold in chunks of SR1,000 ($267), rather than the typical SR1m, ...


Economy and Labor

Analysis: Why Business as Usual May Soon Change in Saudi Arabia

As their country moves away from its economic model based largely on hydrocarbon production, Saudis hungry for economic and social opportunity find themselves drawn to ...



Saudis Issue 70% More Foreign Business Licenses From Year Ago

Applications from British and Chinese companies drove the increase, rising by 86 percent and 71 percent, respectively, Ibrahim Al Omar, governor of Sagia, as the ...


Tourism and Hospitality

Saudi tourism sector will bring in $70 billion to Kingdom in 2019

Saudi Arabia has been steering its efforts towards its tourism sector, which is expected to contribute $70.9 billion to the kingdom's GDP in 2019. ...


Shale Gas

Saudi Aramco Sees Shale Gas as Kingdom’s Next Energy Bonanza

Now, with improved technology, Aramco is seeking unconventional gas at the South Ghawar and Jafurah deposits in eastern Saudi Arabia, Nasser said. ...



Saudi Arabia’s Flyadeal to decide on Boeing 737 Max order in ‘coming weeks,’ CEO says

Flyadeal’s decision hinges on the jet’s availability in time to meet the carrier’s growth targets, as the carrier seeks to add more domestic routes in ...



Saudi Taqa Sees $1.2 Billion in America, Middle East Oil Deals

A Saudi oilfield services company backed by the country’s sovereign wealth fund kicked off a planned $1.2 billion in acquisitions by buying Texas-based Schlumberger Ltd.’s ...


Fawaz Alhokair Group

Saudi Mall Owner Seeks $836 Million From Initial Share Sale

Fawaz Alhokair Group, the Saudi retailer that owns the franchise for brands like Banana Republic and Zara, is seeking to raise as much as 3.1 ...



Leading Bank Of Saudi Arabia Launches Ripple Based Cross-Border Instant Payments

Ripple can add another bank to the list of financial entities using its cross-border payments focused technology, as the Saudi British Bank (SABB) announced they ...



BlackRock’s Larry Fink returns to Saudi Arabia after brief Khashoggi boycott

Fink gushed about the tightening spreads on Saudi Aramco's recent bond issue, and he said that when it comes to issues raised by journalists, "the ...



Ukraine suspends joint venture with Saudi Arabia to build An-132 aircraft

President of Ukraine Antonov State Company, Alexander Donets, which manufactures the aircraft, announced on Friday that the company will continue to build the vehicles but ...



Podcast: How the world’s largest construction firms see Saudi Arabia

In this episode of Construction Week Viewpoint, co-hosts Oscar Rousseau, deputy editor, and Jack Ball, senior reporter, discuss some key firms that have, or are looking ...


Housing and Real Estate

Saudi Real Estate Signs $179 Million Deal With Saudi Fransi

Saudi Real Estate Refinance Co., a subsidiary of the Public Investment Fund, agreed to acquire a mortgage portfolio from Banque Saudi Fransi. “The agreement is among ...


Saudi +

Regional and related topics


Trump and Khamenei: A Lose-Lose Confrontation

Can Khamenei overcome his pride and cynicism to try to exploit the Trump administration’s internal divides, or will he choose to escalate? An insufficient response ...


Global Military Spending

Here’s how much global military spending rose in 2018

Sixty percent of global military spending came from five countries: The United States ($649 billion), China ($250 billion), Saudi Arabia ($67.6 billion), India ($66.5 billion) ...



Boeing CEO Poised to Pitch 737 Max Comeback Case to Shareholders

This year, the aerospace giant’s CEO can expect a grilling from investors and reporters. Outside the Chicago gathering, protesters are expected to rebuke the company ...


San Diego Synagogue Attack

Jewish community will ‘stand tall’ after synagogue shooting

Authorities said the 19-year-old gunman opened fire as about 100 people were worshipping exactly six months after a mass shooting in a Pittsburgh synagogue. ...


Sri Lanka Attacks

Sri Lanka on alert for attacks as archbishop slams poor church security

Sri Lankan security officials have warned that Islamist militants behind Easter Sunday’s suicide bombings are planning attacks and could be dressed in uniform, as the ...



How the US military’s opium war in Afghanistan was lost

The US has spent $1.5m (£1.15m) a day since 2001 fighting the opium war in Afghanistan. So why is business still booming? ...



Commentary: Is Iran Running Out of Patience With Nuclear Agreements?

In a series of public and private appearances last week in New York—on the sidelines of a UN preparatory meeting for a 2020 review of the Nuclear Non-Proliferation ...



What Insurgency Will Look Like in 2030

Robots, artificial intelligence, cyberwar, 3D printing, bio-enhancements, and a new geopolitical competition; the 21st century is being shaped by a range of momentous, and scary, ...



Man accused of spying for the United Arab Emirates dies in Turkish custody

A man accused by Turkish authorities of spying for the United Arab Emirates has been found dead inside his prison cell, according to a statement ...


UAE Road

UAE to build road network made from recycled rubber, asphalt

Regional director of Michelin in the Middle East, Naser Shashaa, said that the company has been implementing its 4R strategy – which aims to reduce, ...


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