Saudi Arabia’s economy is forecast to contract 2.3 percent in 2020, with non-oil GDP expected to contract by 4 percent due in part to the global recession caused by the spread of the deadly coronavirus, the IMF said.
Saudi Arabia's Public Investment Fund disclosed on Monday that it had acquired an 8.2% stake in Carnival Corporation & plc, operator of Carnival Cruise line, as of March 26, according to reports.
Jadwa Investment's recently-released April 2020 Saudi Chartbook highlighting latest data for the Kingdom's economy shows indications that the Coronavirus will have a negative impact on the economy as Saudi Arabia locks down to safeguard its citizens.
Saudi Arabia on Monday night began implementing a nationwide dusk-to-dawn curfew to halt the spread of COVID-19, urging the public to stay home unless necessary and closing restaurants, cinemas, malls, and other places of gathering.
Saudi Arabia is launching a soccer league for women, another step forward as the Kingdom continues ahead with its Vision 2030 social and economic reform plan.
Planners and developers working on making Saudi Arabia's Al-Ula UNESCO heritage site easier and more enjoyable to visit are keen to keep in tact the natural beauty and wonder of the site, the UAE-based The National reports, citing an interview with Francesca Arici, the site’s chief planning office
The Saudi Arabia Monetary Agency (SAMA) announced the launch of licenses for non-bank financial institutions, a news release on its website said, issuing the first licenses for an electronic wallet company and the first license for a payment services company in the Kingdom.
The Saudi Heritage Preservation Society has called on UNESCO to protect traditional Khawlani coffee cultivation techniques in Saudi Arabia in a press release, noting that the Arabian tradition "has been passed down for generations by the ancient tribes of Khawlan."
