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  • 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 […]

     
  • No Big Outflow of Money from Saudi Arabia Yet as U.S. Treasury Monitors Situation – Reports
     

    There has been no big outflow of money from Saudi Arabia as a result of the sweeping anti-corruption crackdown that was announced two weeks ago, according to central bank governor Ahmed Al-Kholifey. In comments made to CNN and reported in Reuters, Al-Kholifey said Saudi Arabia is seeing “some increase, but it’s not that much,” and […]

     
  • Trump Tweets U.S. Interest for Aramco IPO, but can the NYSE Compete?
     

    President Donald Trump used his Twitter account to encourage Saudi Arabia to list shares of Saudi Aramco on the New York Stock Exchange (NYSE) as markets around the world compete for the sought-after listing. “Would very much appreciate Saudi Arabia doing their IPO of Aramco with the New York Stock Exchange. Important to the United […]

     
  • Investors, Analysts with Mixed Interpretations After Wild Weekend in Saudi Arabia
     

    Investors and analysts are mixed in their reactions after a wild weekend for Saudi Arabia that put the Kingdom into the international spotlight. Within the span of just days, Saudi Arabia said it shot down a missile that nearly hit Riyadh’s international airport, launched a new corruption body that immediately arrested some of Saudi Arabia’s wealthiest international businessmen and […]

     
  • Saudi Arabia will Introduce Tourist Visas ‘Soon’, Tourism Authority Head Confirms
     

    Saudi Arabia plans to start issuing tourist visas “soon,” Prince Sultan bin Salman bin Abdul Aziz, head of the Saudi tourism authority, said in a statement according to several reports. Prince Sultan did not give an exact time frame. The Kingdom issues separate visas for the millions of pilgrims that visit Saudi Arabia each year for […]

     
  • KAPSARC’s New Headquarters Near Riyadh, Designed by Zaha Hadid Architects, Receives LEED Platinum Status
     

    The futuristic-looking new headquarters of the King Abdullah Petroleum Studies and Research Centre (KAPSARC) on the outskirts of Riyadh has received LEED Platinum certification—the first of Zaha Hadid Architects’ projects to receive the title. KAPSARC is a non-profit dedicated to studying energy and their environmental impacts. The new 230,000 square-foot campus comprises five buildings and cuts a striking figure against […]

     
  • Saudi Arabia Allows Foreign Investors into Local IPOs, Hopes to List Aramco on Tadawul
     

    Foreign investors are now able to participate in initial public offerings (IPO) on companies listed on the Nomu (parallel) market in Saudi Arabia, according to reports based on comments from Saudi Arabia’s Capital Market Authority (CMA) chairman Mohammed El Kuwaiz. El Kuwaiz said Thursday that foreign investors can take part in company flotations when asked about the […]

     
  • Over 87,000 Business Licenses Issued to Saudi Arabia this Year – Report
     

    Saudi Arabia’s Ministry of Commerce and Investment issued over 87,000 business licenses to women in the last year as the Kingdom looks to increase female integration into the Saudi economy. The Ministry said it issued 87,575 commercial registrations for women “for businesses in various fields, including trade, manufacturing, communications, information technology, real estate, cleaning, tourism, restaurants […]

     
  • 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 […]

     
  • Saudi-based Restaurant Management Startup Raises $4m
     

    A restaurant management startup in Saudi Arabia has raised a $4m Series A investment as the Kingdom sees signs of life for new small and medium-sized enterprises (SMEs). Foodics, which is a Saudi-based company, offers an all-in-one iPad-based point of sale and restaurant management system. Foodics raised its venture funding from Saudi VC firms Raed […]

     

MUST-READS

  • Saudi Arabia’s spending trajectory is sustainable, kingdom’s finance minister says: Video

    Mohammed al-Jadaan, Saudi Arabia’s minister of finance, says the kingdom’s non-oil revenues have grown significantly and cover about 37% of the national expenditure.

  • Saudi Arabia’s Hassana eyes investment in Brookfield Middle East fund

    Hassana, the investment arm of Saudi Arabia's main pension fund, is considering becoming an anchor investor in Brookfield's (BN.TO), opens new tab new $2 billion Middle East fund, it said on Thursday. That would bring Hassana on board with the kingdom's PIF sovereign wealth fund, which announced on Wednesday that it had entered a non-binding agreement to become an anchor investor in the Brookfield Middle East Partners fund.

  • Saudi Arabia’s start-up airline places £6bn plane order in challenge to Gulf rivals

    This is in addition to an earlier agreement for 39 Boeing wide-bodies announced last year, which includes the option for another 33. Chief executive Tony Douglas said the Airbus jets will help “support economic growth” by establishing the comprehensive route network needed to transform the city of Riyadh into a global aviation hub.

  • Saudi Arabia’s Q3 GDP grows by estimated 2.8% y/y

    Saudi Arabia's economy grew 2.8% in the third quarter year on year, preliminary government data showed on Thursday, supported by an increase in non-oil activities. Non-oil growth rose 4.2%, government activities increased 3.1% and the oil sector grew 0.3%, data released by the General Authority for Statistics showed. GDP had shrunk in the second quarter on a year-on-year decline in oil activities of almost 9%.

  • BlackRock Gets Nod From Saudi Arabia for Regional HQ in Riyadh

    With the move, BlackRock will be able to expand its operations across the Middle East, according to a statement. The company established BlackRock Saudi Arabia Company six years ago and is regulated by the kingdom’s Capital Market Authority. “BlackRock plays an important role in Saudi Arabia’s asset management landscape,” Hassan Alduhaim, senior adviser of the minister of investment of Saudi Arabia, said in the statement. “We look forward to BlackRock’s continued growth in Saudi Arabia and the Region.”

  • Israel pounds Beirut’s southern suburbs after US truce push

    Israel pounded Beirut's southern suburbs with a series of powerful airstrikes early on Friday morning after issuing evacuation orders to residents, in the first such strikes in days targeting the dense urban area, Reuters witnesses said. The Israeli military said it was targetting Hezbollah facilities and assets, an assertion that it has repeated over the course of dozens of strikes over more than a month in the neighborhood where the Iran-backed group holds sway.

  • Gulf region poised to rival Silicon Valley as next global tech hub, ‘unicorn factory’, tech investor says

    Speaking on the sidelines of the Future Investment Initiative (FII) in Riyadh this week, Moschini outlined an ambitious vision where the Gulf could become a “unicorn factory,” particularly by capitalising on its growing ties with Latin American entrepreneurs seeking global expansion. “One of my main goals is to connect talented Latin American entrepreneurs who are eager to expand with the resources and vision that can help them grow and turn the Gulf into a unicorn factory,” Moschini said in an interview with Arabian Business. She noted that Latin America, despite being home to dozens of unicorns, still faces significant capital access challenges that the Gulf could help address.

  • Red Sea Global announces $1.5bn AMAALA infrastructure funding

    The deal, supported by local and international financial institutions including First Abu Dhabi Bank, Emirates NBD, Riyad Bank, SNB, and Alinma Bank, highlights the consortium’s efforts to realise AMAALA’s vision of a sustainable luxury destination. Red Sea Global Group chief executive John Pagano said: “This project showcases our ability to develop large-scale, fully renewable energy-powered tourism destinations, delivering exceptional guest experiences and strong financial returns for partners.

  • Saudi commercial property market thrives as office investment interest hits 6-year high

    Saudi Arabia remains one of the strongest commercial property markets in the world, according to the Royal Institution of Chartered Surveyors (RICS) Global Construction Monitor Q3 2024. Overall occupier demand reported a very strong reading (+56 per cent net aggregate), and this growth is found among every commercial property sector, with office property recording an exceptionally strong +76 per cent result. There is exceptionally strong international investor demand growth, particularly for office property, which posted a +88 per cent reading – a record since the monitor was established in Q4 2018.

  • Saudi Arabia aims to enable direct investment by GCC residents: ElKuwaiz

    ElKuwaiz sees two prominent amendments to expand the scope of foreign investment. The first is to work on reviewing the rules of opening investment accounts, considering dealing with GCC residents as Saudi residents regarding investing in stocks, and thus allowing them to invest directly in the Saudi market.   This will be followed—after a year—with a review of the investor regulations to liberalize them in terms of the targeted categories and ratios, which have become a restricted factor for foreign investors.