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  • Saudi Arabia Set to Become World’s Biggest Construction Market

    Saudi Arabia is set to become the world’s largest construction market as the kingdom pours vast amounts of money into projects aimed at overhauling and diversifying the economy, according to real estate consultancy group Knight Frank. The country’s total construction output value is forecast to reach $181.5 billion by the end of 2028, up almost 30% from 2023 levels, the London-based firm said in a research report published Monday.

  • From Saudi Arabia to 105 countries — the incredible story of a modern nomad

    As a child, Nasser Al-Sadhan would spend hours watching documentaries on countries such as New Zealand and India, fascinated by the diverse landscapes and cultures depicted on the screen. As an adult, Al-Sadhan has been able to turn his childhood fantasies into reality by visiting these countries. Each step he takes in these unfamiliar territories brings back memories of the wonder and amazement he felt as a child. Al-Sadhan is not your average traveler. The 35-year-old, born and raised in Riyadh, has backpacked to an astounding 105 countries, each journey leaving a mark on his soul.

  • Saudi milling company Arabian Mills plans to list 30% stake in IPO, CMA says

    Saudi Arabia's Arabian Mills for Food Products is planning to list 15.4 million shares equal to a 30% stake on its local bourse, according to a statement by the Saudi capital markets authority (CMA) on Monday.
    Saudi regulator CMA said it had approved the firm's public listing application, adding Arabian Mills would publish the IPO prospectus "within sufficient time prior to the start of the subscription period."

  • Saudi Arabia’s Vision 2030 is ‘more than halfway’ done, investment minister says

    Saudi Arabia's Minister of Investment, Khalid Al Falih, has told an event in London that the kingdom's development plan is on its way to implementation and ahead of schedule. “We're more than halfway through the implementation of Vision 2030, and I'm glad to report that we're ahead of schedule on all aspects of the implementation,” he told the UK-Saudi Sustainable Infrastructure Summit. Vision 2030, Saudi Arabia's plan to transform the country from heavy reliance on oil and gas revenue to a technologically-advanced economy powered by renewable energy through a series of giga-projects involving trillion of dollars.

  • Is This The Beginning Of A Reconciliation Between The U.S. And Saudi Arabia?

    The signing of a 20-year deal for the U.S.’s NextDecade Corporation to sell liquefied natural gas (LNG) to Saudi Arabia’s flagship company, Aramco, could have a significance way beyond the confines of the energy market.The signing of a 20-year deal for the U.S.’s NextDecade Corporation to sell liquefied natural gas (LNG) to Saudi Arabia’s flagship company, Aramco, could have a significance way beyond the confines of the energy market.

  • Saudi Arabia’s non-oil exports rise 12.4 percent, imports down 1.3 percent in April: Report

    Saudi Arabia’s non-oil exports saw a 12.4 percent annual increase in April 2024 while imports declined by 1.3 percent. National non-oil exports rose 1.6 percent while the value of re-exported goods increased by 56.4 percent during the same period. The latest report from the General Authority for Statistics (GASTAT) also reveals that Saudi Arabia’s merchandise exports declined by 1 percent annually in April 2024. Therefore, the share of oil exports from total exports declined from 80.6 percent in April 2023 to 78 percent in April 2024.

  • Saudi Arabia sees sharp increase in FDI to $65 billion after pandemic: Report

    Saudi Arabia attracted $65.1 billion in foreign direct investment (FDI) in the three years following the pandemic until 2023, placing it among West Asia’s top recipients, a new report suggests. According to the latest World Investment Report by the UN Conference on Trade and Development, the Kingdom’s FDI outflows totaled over the same period $73.1 billion, with $16 billion recorded in 2023 alone. This ranks Saudi Arabia 16th among the top 20 economies globally for FDI outflows

  • Saudi Arabia’s futuristic ‘mega cities’ could be quietly downgraded: report

    Continued low oil prices mean that some of the more ambitious elements of NEOM - such as The Line project - might be reduced in size and constructed over a longer period with the source telling the BBC that the planned 170km linear city will be just 2.4km in length when its first stage is completed in 2030. "The decision will be based on multiple factors," an anonymous advisor told the BBC.

  • Despite mediation efforts, the risk of an all-out Israel-Hezbollah war is rising rapidly

    • The war of words between Hezbollah and Israel continues to escalate, with Hezbollah Secretary-General Hassan Nasrallah stating in a speech on June 19 that if Israel were to mount a large military offensive against the group, there will be “no rules” and “no ceilings” to its response.

  • Saudi Arabia shortens Friday sermons until end of summer

    The sermon preceding the Friday noon prayers at Islam's two holiest mosques in Saudi Arabia will be shortened to a few minutes until the end of summer to ease the burden on worshippers amid the extreme heat in the kingdom. Under a royal directive, the duration of the Friday sermon and prayers in the two Holy Mosques will be reduced to 15 minutes, starting yesterday and continuing until the end of summer, a senior Saudi official has said.